OrthoPediatrics announced early in January 2024 that it had acquired Boston Orthotics & Prosthetics at an undisclosed amount. In addition to the acquisition, OrthoPediatrics has signed a debt financing agreement with MidCap Financial and could raise up to $80 million of capital by combining a term loan with the revolving loan, replacing the previous unused $50 million line of credit.
Oxford Nanopore Technologies teamed up with American firm Fabric Genomics in October 2023 to create software capable of analyzing and reporting genomic information from neonatal and pediatric patients in ICUs.
Axoft launched its brain-machine interface (BMI) for the treatment of long-term neurological disorders with the FDA Breakthrough Device designation in October 2022. This minimally invasive device offers electrical stability to monitor brain signals and a high number of sensors per volume unit on it to optimize the amount of information that can be communicated between living brains and circuits.
Abbott got US Food and Drug Administration (FDA) approval for its new spinal cord stimulation device—a new modality called FlexBurst360™ therapy within the Proclaim™ Plus spinal cord stimulation (SCS) system—in August 2022. It provides pain coverage over as many as six sites on limbs while mimicking natural patterns observed inside human brain neurons.
Medtronic plc disclosed United States FDA clearance news in July 2021, where they performed their initial operations related to Deep Brain Stimulation (DBS) using the SenSight directional lead system. The SenSight was a one-of-a-kind DBS directional lead that combined directionality advantages with sensing capabilities, thus allowing physicians to achieve accurate patient-specific DBS therapy addressing certain movement disorders symptoms such as Parkinson’s disease, dystonia and essential tremor, and medically refractory epilepsy.
gammaCore Sapphire was approved by the US Food and Drug Administration (FDA) in February 2021 as an acute, preventive treatment for migraine in adolescents aged between twelve to seventeen years. It is a handheld, non-invasive device that applies a low-voltage electric signal resulting in an electrical field close to the vagus nerve thereby averting and relieving headaches without any need to undergo surgery.
The pediatric neurology devices market is segmented on the basis of type, service and treatment, neurological subspecialties, age group, and end user
By type, the pediatric neurology devices market is segmented into neurosurgery devices, neurostimulator, cerebrospinal fluid (CSF) management devices, and others.
On the basis of service and treatment, pediatric neurology devices market is segmented into electroencephalogram, intrathecal baclofen therapy, neurological evaluations, vagal nerve stimulation, and others.
On the basis of the neurological subspecialties, pediatric neurology devices market is segmented into neuro-oncology, neuromuscular, neonatal neurology, neuro-immunology, stroke, and others.
On the basis of the age group, pediatric neurology devices market is segmented into neonates, infants, children, and adolescents
On the basis of the end user, pediatric neurology devices market is segmented into hospitals, healthcare centers, neurological research centers, and others.
The Americas dominate the market owing to the rising prevalence of disease such as depression, epilepsy, and migraine, high healthcare spending, and increasing government support for research & development. According to a report published by the Centers for Disease Control and Prevention in 2017, more than 470,000 children below 17 years have epilepsy. Additionally, According to the Migraine Research Foundation, (2014), migraine was the 3rd most prevalent illness in the world. Nearly 1 in 4 U.S. households includes a migraine patient.
Europe holds the second position in the market owing to the government support for research & development and availability of funds for research. Moreover, people of this region have more healthcare awareness. This is expected to continue to drive the European market over the forecasted period.
Asia Pacific is considering the huge market for pediatric neurology devices market players owing to the presence of huge patient population in countries like India and china. Moreover, high health care expenditure, adding the fuel to this market. Additionally, countries from this region looking forward to adopt advanced technology and treatment from developed nations to improve the quality of life for their citizen.
Whereas the Middle East and Africa are considering the low market due to incapability of investment and poor healthcare infrastructure.
Intended Audience
| Report Attribute/Metric | Details |
| Â Â Market Size | Â Â 2032: USD 3.45 Billion |
| Â Â CAGR | Â 5.12% (2024-2032) |
| Â Â Base Year | Â Â 2023 |
| Â Â Forecast Period | Â Â 2024-2032 |
| Â Â Historical Data | Â Â 2022 |
| Â Â Forecast Units | Â Â Value (USD Billion) |
| Â Â Report Coverage | Â Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â type, service and Treatment, Neurological Subspecialties, Age group, and End user |
| Â Â Geographies Covered | Â Â North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Â Elana, Inc. (the Netherlands), Ethicon Inc. (U.S.), Inova Health System (U.S.), Medtronic (U.S.), The Nemours Foundation (U.S.), Stryker Corporation (U.S.), Boston Scientific Corporation (U.S.), B.Braun Melsungen AG (Germany), Integra LifeSciences Corporation (U.S.), St. Jude Medical, LLC (U.S.) |
| Â Â Key Market Opportunities | Â Â New product launches and R&D Amongst major key Players |
| Â Â Key Market Drivers | Â Â Increasing prevalence of neurological disorders |
Global Pediatric Neurology Devices Market Highlights:
Frequently Asked Questions (FAQ) :
The pediatric neurology devices market CAGR would be 4.5% during the forecast period.
The pediatric neurology devices market restraints would be high cost included for monitoring and diagnosis of various neurological diseases.
The pediatric neurology devices market report includes healthcare centers, neurological research centers, hospitals, and others as end users.
The pediatric neurology devices market would be dominated by the Americas.
The Asia Pacific pediatric neurology devices market would be the fastest-growing.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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