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Global Pediatric Neurology Devices Market Overview
Pediatric Neurology Device Market Size was valued at USD 1.95 Billion in 2023. The Global Pediatric Neurology Device industry is projected to grow from USD 2.03 Billion in 2024 to USD 3.45 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.12% during the forecast period (2024 - 2032). Pediatric neurology is a branch of science referring to neurological disorders in children such as insomnia and frequent headaches.
The prevalence of neurological disorders in children is rising rapidly. Neurological disorders are diseases of spine, brain, and nerves that connect them. Approx. 600 diseases of the nervous system are present across the world. However, there are many devices introduced by the market players for the diagnosis and treatment of neurological disorders in children.
Neurological disorders are either lower risk disorders or major risk disorders. Lower risk disorders include insomnia, delayed speech, poor muscle tone, and frequent headaches, whereas major risk disorders include head and spinal cord trauma, infections or inflammatory processes, neuro-genetic disorder, epilepsy, seizures, and others. Various pediatric neurology devices are available in the market, which are used for the treatment of neurological disorders in children. These devices are designed such that it can be used for the treatment of a wide range of neurological disorders.
Pediatric neurology devices market growth is majorly attributed to the increasing prevalence of neurological disorders and other related problems across the globe. According to the Migraine Research Foundation report, it has been observed that half of all migraine sufferers have their first attack before the age of 12 and migraine has even been reported to in 18 months old children. Additionally, the prevalence of epilepsy in children appears to be lower in developed countries and highest in rural areas of underdeveloped countries.
Moreover, the government of developing countries are looking forward to adopting advanced technology from the developed nations to improve the quality of life of their citizen and also support the launch of medical devices for treating and helping children with neurological disorders. However, the high cost associated with monitoring and diagnosis of the neurological diseases may restrain the market growth.
In this breakthrough alliance between Healing Innovations, a major medical technology provider and Arkansas Children’s Hospital in April 2024, Rise&Walk technology—customized for aiding children through the rehabilitation process after spinal cord and traumatic brain injuries—was developed for the first time.
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.
Pediatric Neurology Devices Market Segment Insights
The pediatric neurology devices market is segmented on the basis of type, service and treatment, neurological subspecialties, age group, and end user
Pediatric Neurology Devices Type Insights
By type, the pediatric neurology devices market is segmented into neurosurgery devices, neurostimulator, cerebrospinal fluid (CSF) management devices, and others.
Pediatric Neurology Devices Service & Treatment Insights
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.
Pediatric Neurology Devices Age Group Insights
On the basis of the age group, pediatric neurology devices market is segmented into neonates, infants, children, and adolescents
Pediatric Neurology Devices End-User Insights
On the basis of the end user, pediatric neurology devices market is segmented into hospitals, healthcare centers, neurological research centers, and others.
Pediatric Neurology Devices Regional Insights
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.
Pediatric Neurology Devices Market Key Players
- 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.)
Intended Audience
- Pediatric Neurology Device Manufacturers
- Pediatric Neurology Device Suppliers & Distributors
- Neurological Hospitals and Clinics
- Research and Development (R&D) Companies
- Medical Research Laboratories
- Academic Medical Institutes and Universities
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