The size of the Neurological Monitoring Devices Market in Europe was worth USD 2.81 billion in 2022 and estimated to be growing at a CAGR of 6.81% to reach USD 3.91 billion by 2027.
The increasing prevalence of neurological disorders in Europe is the main factor driving the neurophysiological monitoring (NPM) devices market. The growing importance of long-term monitoring and intraoperative monitoring promotes growth in the NPM market, along with increased clinical diagnostic is the verification of magnetoencephalography (MEG) monitoring equipment. Lack of skilled professionals is hindering the development of the market.
Additionally, factors for the growth of the market in Europe are the increasing incidence of neurological disorders, the vast investments by private agents in neurological monitoring devices, the increase of R&D in the field of neuro therapies, and the increasing aging of the population. The development of the neurological monitoring devices market in Europe is also assigned to the elevating incidence of neurological disorders, as well as brain aneurysms, brain tumors, epilepsy, memory disorders, multiple sclerosis, Parkinson's, peripheral neuropathy, postherpetic neuralgia, a tumor of the spinal cord and stroke. Rising healthcare spending, increasing investments by medical device manufacturers, and the growing prevalence of neurological diseases are expected to drive the overall growth of the neurological monitoring devices market in Europe.
The high cost of neurological monitoring devices and surgeries is a significant factor limiting the European market for neurological monitoring devices, especially in developing countries where reimbursement policies are inadequate.
This research report on the Europe Neurological Monitoring Devices Market segmented and sub-segmented into the following categories:
Europe holds the second-largest share in the Global Neurological Monitoring Device Market. The increased incidence of post-surgical stroke has led to the need for more improved and automated neurological monitoring devices. Therefore, neurological monitoring devices are widely integrated into hospitals and clinics to assess the activity of sedatives and anesthesia. According to WHO estimates in 2019, the European prevalence of epilepsy and multiple sclerosis was estimated at 75 million and 3.2 million, respectively. The European region offers a vast untapped market for neurological monitoring devices due to the growing awareness of neurological disorders, increasing purchasing power, and increasing numbers of people with multiple sclerosis, epilepsy, cerebrovascular disease, and Parkinson's disease and Alzheimer's disease. An increase in demand for neurological monitoring devices is expected in Europe, as the region has a growing group of patients with neurological disorders. The European market for neurological monitoring devices is influenced by EEG devices, followed by MEG systems and intracranial pressure monitors.
The generality of Parkinson's disease has elevated over the years in developed regions of Europe. It is mainly due to the increase in the geriatric population. According to the 2019 United Nations Population Aging Report, the population aged 65 and over comprises 26.7% of the UK population and is expected to reach 33.7% by 2040.
Some of the leading companies operating in the European Neurological Monitoring Devices Market profiled in this report are CAS Medical Systems Inc., Compumedics Ltd., Natus Medical Inc., Philips Healthcare, GE Healthcare, AMD Telemedicine, Intel Corporation, Johnson & Johnson, InTouch Health, InTechnology, MEG International Services Ltd., Rimed Inc., Siemens Healthcare, Medtronic Inc., Electrical Geodesics Incorporated, Nihon Kohden Corporation & Advanced Brain Monitoring.
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