Neurological devices market to be valued at $20.9b by 2033

The sector’s growth is attributed to a rising prevalence of neurological disorders.

The global market for neurological devices is projected to reach $20.9b by 2033 at a compound annual growth rate (CAGR) of 4.60%, according to GlobalData.

The sector’s expansion is attributed to the rising prevalence of neurological disorders, particularly sleep apnea, driven primarily by an ageing population and changing lifestyle factors.

“This growth is driving demand for advanced diagnostic and therapeutic technologies,” Cynthia Stinchcombe, Medical Devices Analyst at GlobalData, said.

In line with this, the recent FDA approval of the Inspire V Therapy System is expected to drive neurological disease management.

Moreover, wearable technologies and digital health applications are increasingly being integrated into neurology.

Devices leveraging data from wearable tech facilitate continuous monitoring of neurological conditions, complementing traditional diagnostic methods.