Spain Neurology Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal Fluid Management Devices, and Others), By End User (Hospitals, Ambulatory Surgery Centers, and Others), and Spain Neurology Devices Market Insights, Industry Trend, Forecasts to 2033

Spain Neurology Devices Market Insights Forecasts to 2033

• The Spain Neurology Devices Market Size is Growing at a CAGR of 7.06% from 2023 to 2033
• The Spain Neurology Devices Market Size is expected to hold a significant share by 2033

The Spain Neurology Devices Market Size is anticipated to hold a significant share by 2033, Growing at a CAGR of 7.06% from 2023 to 2033. The growing burden of neurological disorders and increase in research & development activities in the neurotherapy field is driving the growth of the neurology devices market in the Spain.     

Market Overview

The neurology devices market refers to the medical technologies that are used for diagnosis, monitoring, and treatment of neurological disorders such as epilepsy, stroke, and Parkinson’s disease. Neurology devices comprise a wide range of tools from imaging techniques to surgical instruments that are intended for diagnosis, treatment, monitoring, or prevention of neurological disorders or injuries, as well as supporting physiological processes associated with the nervous system. Microsurgical instruments, stereotactic radiosurgery systems, intraoperative MRI machines, and ultrasonic aspirators are some of the common neurosurgery devices used, based on surgery type and location of the tumor, and surgeon’s preference. The adoption of non-invasive and minimally invasive treatments, as well as the development of novel technologies including miniaturization and wireless technologies, are escalating lucrative market growth opportunities for neurology devices.

Report Coverage

This research report categorizes the market for the Spain neurology devices market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Spain neurology devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Spain neurology devices market.

Driving Factors

The growing burden of neurological disorders like epilepsy, Parkinson’s disease, and Alzheimer’s diseases is driving the market demand for neurology devices for neurodiagnostics, neurointerventional procedures, and neurostimulation. Further, the growth in research & development activities in the field of neurotherapy, including TMS therapy, neurofeedback for treating ADHD, and transcranial Electrical Stimulation (tES), are promoting the market growth for neurology devices. Further, the increased healthcare expenditure by the government organization i promoting market growth. According to the data by Freopp organization,  Spain allocates about nine percent of its GDP to health expenditure.

Restraining Factors

The increased cost of neurology devices and the shortage of skilled professionals are hampering the market. Further, the stringent regulations and certification requirements associated with the approval of novel products are restraining the neurology devices market.

Market Segmentation

The Spain neurology devices market share is classified into product and end user.

• The interventional neurology devices segment dominated the market with the largest revenue share in 2023 and is anticipated to grow at a significant CAGR during the projected period.

The Spain neurology devices market is segmented by product into neurostimulation devices, neurosurgery devices, interventional neurology devices, cerebrospinal fluid management devices, and others. Among these, the interventional neurology devices segment dominated the market with the largest revenue share in 2023 and is anticipated to grow at a significant CAGR during the projected period. Interventional neurology devices are used for performing minimally invasive procedures in which the affected area of the brain or spinal cord is accessed and treated via blood vessels. The high accuracy of the device and its use recommended by health authorities is propelling the market growth.

• The hospitals segment held the largest share of the Spain neurology devices market in 2023 and is anticipated to grow at the fastest CAGR during the forecast period.

The Spain neurology devices market is segmented by end user into hospitals, ambulatory surgery centers, and others. Among these, the hospitals segment held the largest share of the Spain neurology devices market in 2023 and is anticipated to grow at the fastest CAGR during the forecast period. The ease of availability of advanced technologies and the presence of highly skilled professionals in the hospitals are responsible for driving the neurology devices market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Spain neurology devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• B. Braun Melsungen AG
• Boston Scientific Corporation
• Stryker Corporation
• Medtronic PLC
• Abbott Laboratories
• Johnson & Johnson
• Smith & Nephew PLC
• Nihon Kohden Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In October 2024, Cognito Therapeutics, a neurotechnology company advancing disease-modifying therapies to treat CNS diseases, announced it has been selected to present multiple poster presentations for its disease-modifying therapy Spectris in patients with Alzheimer’s Disease, at the 17th Clinical Trials on Alzheimer’s Disease (CTAD) conference.

• In September 2024, Aidoc, a leading healthcare AI provider, introduced seven new AI solutions to the European healthcare market. These additions mark a significant expansion of Aidoc's award-winning aiOS platform, which alerts radiologists and care teams to suspected urgent pathologies in medical images, ensuring rapid delivery of treatment to patients.

• In February 2022, InspireMD, Inc., a global developer of the CGuard Embolic Prevention Stent System (EPS) device for the treatment of carotid artery disease and stroke prevention, announced its CGuard Carotid Stent, utilizing its proprietary MicroNet mesh, would be included as a device option for stenting in the CREST-2 Trial.

Market Segment

This study forecasts revenue at Spain, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Spain neurology devices market based on the below-mentioned segments:

Spain Neurology Devices Market, By Product

• Neurostimulation Devices
• Neurosurgery Devices
• Interventional Neurology Devices
• Cerebrospinal Fluid Management Devices
• Others

Spain Neurology Devices Market, By End User

• Hospitals
• Ambulatory Surgery Centers
• Others