North America Neurology Monitoring Market Size (2024 - 2029)

The North America Neurology Monitoring Market is projected to experience significant expansion over the forecast period, driven by the rising prevalence of neurological disorders and traumatic brain injuries. This growth is further supported by the increasing number of product approvals in the sector. Neurology monitoring devices, which are essential for tracking intracranial pressure, blood flow dynamics, and brain electrical activity, are becoming increasingly vital due to the high burden of neurological conditions on patients and society.

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Market Size of North America Neurology Monitoring Industry

North America Neurology Monitoring Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 2.76 Billion
Market Size (2029) USD 3.49 Billion
CAGR (2024 - 2029) 4.72 %

Major Players

North America Neurology Monitoring Market Key Players

*Disclaimer: Major Players sorted in no particular order

North America Neurology Monitoring Market Analysis

The North America Neurology Monitoring Market size is estimated at USD 2.76 billion in 2024, and is expected to reach USD 3.49 billion by 2029, growing at a CAGR of 4.72% during the forecast period (2024-2029).

TheNorth America Neurology Monitoring Marketwill show a rapid growth due to the increasing burden of neurological disorders, growing incidence of traumatic brain injuries and the increasing number of product approvals.

Neurological disorders are increasingly recognized as one of the most prevalent disorders with high burden to the patients, their families, and society. Neurological disorders contribute significantly to morbidity and mortality worldwide. According to a report published by the Alzheimer's Association, it was estimated that around 5.8 millionAmericans of all ages are living with Alzheimer's dementia in 2019 as 5.4 million Americans were recorded in the year 2016. Therefore the above statistics clearly demonstrate an increase in the number of patients with neurological disorders and therefore neurology monitoring devices are found to be used. Hence all these systems monitors the intracranial pressure and blood flow dynamics and also monitors the brain electrical activity, thereby propelling the market growth.

North America Neurology Monitoring Industry Segmentation

Neurology monitoring devices are used to monitor and diagnose the neurological conditions by exploring the structure and function of the brain. This process involves the use of several brain monitoring devices to track and monitor the brain functions. In addition, these devices help monitor neural and electrical activity in the brain.

By Product Type
Magnetic Resonance Imaging (MRI) Devices
Electroencephalography devices
Cerebral Oximeters
Intracranial Pressure Monitors
Others
By Disease Type
Traumatic Brain Injury (TBI)
Stroke
Sleep Disorders
Parkinson's Disease
Epilepsy
Other Diseases
Geography
North America
United States
Canada
Mexico
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North America Neurology Monitoring Market Size Summary

The North America Neurology Monitoring Market is poised for significant expansion, driven by the increasing prevalence of neurological disorders and the rising incidence of traumatic brain injuries. This growth is further supported by the increasing number of product approvals in the region. Neurological disorders, which contribute substantially to global morbidity and mortality, are becoming more prevalent, thereby escalating the demand for neurology monitoring devices. These devices play a crucial role in monitoring intracranial pressure, blood flow dynamics, and brain electrical activity, which are essential for the diagnosis and management of conditions such as Alzheimer's disease. The heightened demand for high-quality electroencephalography (EEG) devices, used to record brain wave activity, is a testament to the growing need for advanced monitoring solutions in the healthcare sector.

The market landscape is characterized by a fragmented structure with numerous players, including prominent companies like Natus Medical, Inc., Philips, Nihon Kohden Corporation, GE Healthcare, Drägerwerk, and Siemens Healthineers. These companies are heavily investing in research and development to innovate and introduce technologically advanced products that aim to minimize costs and side effects. The competitive environment encourages continuous improvement and adaptation to meet the specific needs of EEG users, further propelling market growth. As the demand for effective and efficient neurology monitoring solutions continues to rise, the market is expected to experience robust growth over the forecast period.

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North America Neurology Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Burden of Neurological Disorders

      2. 1.2.2 Growing Incidence of Traumatic Brain Injuries

      3. 1.2.3 Increasing Number of Product Approvals

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Monitoring Devices

      2. 1.3.2 Shortage of Trained Professionals

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Magnetic Resonance Imaging (MRI) Devices

      2. 2.1.2 Electroencephalography devices

      3. 2.1.3 Cerebral Oximeters

      4. 2.1.4 Intracranial Pressure Monitors

      5. 2.1.5 Others

    2. 2.2 By Disease Type

      1. 2.2.1 Traumatic Brain Injury (TBI)

      2. 2.2.2 Stroke

      3. 2.2.3 Sleep Disorders

      4. 2.2.4 Parkinson's Disease

      5. 2.2.5 Epilepsy

      6. 2.2.6 Other Diseases

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

North America Neurology Monitoring Market Size FAQs

The North America Neurology Monitoring Market size is expected to reach USD 2.76 billion in 2024 and grow at a CAGR of 4.72% to reach USD 3.49 billion by 2029.

In 2024, the North America Neurology Monitoring Market size is expected to reach USD 2.76 billion.

North America Neurology Monitoring Report Snapshots

North America Neurology Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)