Market Trends of Europe Neurology Monitoring Industry
This section covers the major market trends shaping the Europe Neurology Monitoring market according to our research experts:
Parkinson's Disease Segment is Expected to Witness a Significant Growth During the Forecast Period.
Patients with Parkinson's disease suffer from a progressive neurological disorder that affects the movements of their body parts. Symptoms begin gradually, sometimes with barely noticeable tremors, and neurological monitoring devices are designed to monitor patients' motor and cognitive functions. The Parkinson's disease segment is expected to witness significant growth during the forecast period. Parkinson's disease is more prevalent in Europe due to the increasing geriatric population. Also, a rise in brain injuries and the recent expansion of brain tracking for neurodegenerative disease in clinical studies are contributing to the growth of the market studied in Europe.
The high prevalence of Parkinson's disorder is driving the demand for neuromonitoring devices. For instance, an article published in the journal Pharmacoeconomics Open in January 2022 reported that Parkinson's disease is the second most common neurodegenerative disorder. It affects around 0.3% of the entire population in western countries. The prevalence of this disease increases with age, reaching 1% of the population aged 60 years and older. Therefore, the high prevalence of the geriatric population in the region drives the demand for neurological monitoring devices.
Furthermore, advancements in various magnetic resonance imaging techniques can effectively elaborate on the neuroanatomic and pathophysiologic changes in the nigral structure of patients with Parkinson's disease and other parkinsonian syndromes. Siemens Healthineers, for instance, installed a Magnetom 11.7T MRI system in October 2021 at NeuroSpin at CEA-Paris-Saclay and based at the Frederic Joliot Institute for Life Sciences.
Similarly, in October 2021, Esaote launched a total body magnetic resonance imaging system called Magnifico Open, which is an open MRI system with cutting-edge technology. Neurological imaging can be useful in diagnosing and monitoring Parkinson's disease, which can be well visualized with 3-T and 7-T MRI. Thus, advancements in neurology monitoring devices are driving the growth of this segment.
Thus, for the aforesaid reasons, the segment is expected to witness significant growth during the forecast period.
Germany is Expected to Witness a Significant Growth During the Forecast Period.
Germany is expected to witness significant growth during the forecast period owing to the increasing development and new device launches in the neurology monitoring market. The country also reported a high geriatric population and a high incidence of brain disorders such as brain cancer, epilepsy, stroke, Parkinson's disorder, etc. Thus, all these factors are significantly contributing to the increased demand for neurological devices, thereby contributing to the growth of the market studied.
Technological advancement due to the presence of key market players is significantly contributing to market growth. For instance, in May 2021, WISE Srl, a medical device manufacturing company, developed its WISE Cortical Strip (WCS). It is a single-use medical device that is attached to the brain surface for intraoperative neurophysiological monitoring (IONM). It was launched in many countries, including Germany. Such factors are likely to boost the market growth during the forecast period. Therefore, technological advancements in wearable sensor devices provide better support for patients who are more prevalent to tremors and seizures, thereby driving the market.
The growing incidence of traumatic brain injuries in Germany contributing to the growth of the market studied in the country. For instance, an article published in the journal Saf. Sci. in April 2021 reported that a high incidence of head injuries and skull fractures was reported in Germany. The article also reported a significant increase in the trend of head injuries observed in the country. Thus, high incidences of traumatic brain injuries demand an increase in brain surgeries, and that demands increasing neurological monitoring devices, thereby contributing to the growth of the market studied.
Thus, due to the aforesaid reasons, the country is expected to witness significant growth during the forecast period, thereby driving the growth of the market studied.
