United Kingdom Neurology Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Neurostimulation, Interventional Neurology, CSF Management Devices, and Neurosurgery Devices), By End Use (Hospitals & Clinics and Specialty Center), and United Kingdom Neurology Devices Market Insights, Industry Trend, Forecasts to 2033.

United Kingdom Neurology Devices Market Insights Forecasts to 2033

• The United Kingdom Neurology Devices Market is growing at a CAGR of 7.45% during the forecast period 2023 to 2033
• The United Kingdom Neurology Devices Market Size is anticipated to hold a significant share by 2033

The United Kingdom Neurology Devices Market Size is anticipated to hold a significant share by 2033, growing at a CAGR of 7.45% from 2023 to 2033. The growing prevalence of neurological disorders and the increasing aging population are driving the growth of the neurology devices market in the UK.     

Market Overview

The neurology devices market is the industry encompassing medical technologies used for diagnosis, monitoring, and treating neurological disorders. Neurology devices are medical tools and equipment, including brain imaging techniques and neurostimulation devices. These devices aid in restoring hearing and sight and provide increased function for those with limb loss or congenital limb differences. There is an upsurging need for advanced diagnostic and therapeutic neurology devices fueled by the prevalence of neurological disorders like Alzheimer’s disease, Parkinson’s disease, and epilepsy. Further, technological advancement in neurostimulation devices is significantly enhancing the treatment outcomes for neurological disorders. The increasing investment by medical device manufacturers and upsurging healthcare expenditure for R&D are expected to provide opportunities for market expansion.

Report Coverage

This research report categorizes the market for the UK 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 United Kingdom 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 UK neurology devices market.

Driving Factors

The growing prevalence of neurological disorders in the UK is responsible for driving the neurology devices market. For instance, an estimated one in six people live with at least one neurological condition, with the collective number of people with these conditions in the country coming to 14.5 million. Further, the increasing aging population is driving the demand for neurology devices for the management of age-related neurological disorders such as Alzheimer’s and Parkinson’s disease, as well as strokes. Further, the need for advanced diagnostics and treatments driving the use of sophisticated devices and imaging techniques like MRI, CT scans, PET scans, and EEG, thereby propelling the market growth.

Restraining Factors

The increased price of devices and strict regulatory validation & guidelines for new devices are challenging the market growth.

Market Segmentation

The United Kingdom neurology devices market share is classified into product and end use. 

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

The United Kingdom neurology devices market is segmented by product into neurostimulation, interventional neurology, CSF management devices, and neurosurgery devices. Among these, the neurostimulation segment dominated the market with the largest revenue share in 2023 and is expected to grow at a significant CAGR during the projected period. A neurostimulation device is an implantable medical device used to modulate and alter neural activities for therapeutic purposes. The use of these devices for pain management, as well as technological advancements including the development of miniaturized devices and wireless technologies, are driving the market.

• The specialty center segment held the largest revenue share of the neurology devices market and is expected to grow at a significant CAGR during the projected period.

The United Kingdom neurology devices market is segmented by end use into hospitals & clinics and specialty center. Among these, the specialty center segment held the largest revenue share of the neurology devices market and is expected to grow at a significant CAGR during the projected period. Neurological conditions like epilepsy, Parkinson’s disease, and traumatic brain injury are diagnosed and treated by using neurological devices such as EEG, MRI, CT scans, and neurostimulation devices in the specialty center. The increase in number of ambulatory surgery centers across the country is propelling the market in the specialty center segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.K. 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

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

Key Target Audience

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

Market Segment

This study forecasts revenue at U.K., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Neurology Devices Market based on the below-mentioned segments:

UK Neurology Devices Market, By Product

• Neurostimulation
• Interventional Neurology
• CSF Management Devices
• Neurosurgery Devices

UK Neurology Devices Market, By End Use

• Hospitals & Clinics
• Specialty Center