The pediatric neurology sector has been witnessing the emergence of many advent devices over the past few years that are offering effective outcomes. As a result, the global pediatric neurology device market is increasing pervasively. Factors such as the increasing prevalence of neurological disorders in children are fuelling the market growth to an extent. Also, the risk factors for these disorders are speeding up the market growth, creating the demand for the better diagnostic and treatment methods.
pediatric neurology device market size will register approximately 6.3% CAGR between 2017 -2023, valuing exponentially by 2023. Common neurological disorders include stroke, Alzheimer’s disease, ADHD, epilepsy, headache, Parkinson’s disease, multiple sclerosis, sleep disorders, pain, brain, tremor, and spinal cord injuries, brain tumors, peripheral nervous disorders and amyotrophic lateral sclerosis occurring in children. Also, some not so serious issues such as seizures, delayed speech, poor muscle tone, or frequent headaches can be treated in pediatric neurology.
Additional factors substantiating the market growth include increasing governmental funding and programs especially in the developing regions to support the R&D activities undertaken for the invention of new devices. Technological advancements that took place in the smart and connected devices and the proliferation of some ubiquitous technologies such as the Artificial Intelligence (AI) and Internet of Things (IoT) in the pediatric neurology devices foster the market growth.
Global Pediatric Neurology Device Market- Regional Analysis
The Asia Pacific is emerging as a promising market for pediatric neurology devices, growing rapidly. Increasing incidents of neurological disorders are fuelling the market growth. Moreover, factors such as the augmenting demand for quality devices in the healthcare and proliferating healthcare technology is projected to provide impetus to the market growth, leading to the increasing the uptake of advanced equipment.
Globally, North America is dominating the global pediatric neurology device market. Furthermore, factors such as extensive uptake of technologically advanced medical devices, increasing governmental support for R&D activities and high expenditures in the neurological care substantiate the market growth include. With the growing prevalence of neurological disorders in children, the market is expected to evaluate phenomenally by 2023.
Europe region is another lucrative market for pediatric neurology device. Increasing focus on the development of advent diagnostic devices, rising government support for R&D activities is contributing to the market growth. Also, the increasing numbers of specialty services offered by various healthcare providers foster the growth of the market in the region.
October 4, 2018 – Dictum Health Inc., (US), innovators in telehealth’s Virtual Exam Room (VER) technology, and eMD Telehealth Solutions, a telehealth company, announced their collaborative launch of Dictum Health’s Care Central Telestroke Module in several regional hospitals to support local healthcare providers and patients with 24-hour access to neurologists including pediatric neurologists as well.
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