The number of Neurology Devices pipeline products in 2020 saw a 17% drop globally when compared to Neurology Devices pipeline products in 2019, according to GlobalData’s pipeline products database. This compares to an 34% rise for all pipeline medical devices in 2020 compared to 2019.
The global Neurology Devices market was worth $8.58bn in 2019 and is expected to reach $11.10bn by 2025, according to GlobalData’s analysis.
Neurology Devices pipeline products by categories: Neurological Diagnostic and Monitoring Equipment has the most devices
Looking at the device categories of pipeline products, Neurological Diagnostic and Monitoring Equipment accounted for the largest proportion (32.28%) in 2020, followed by Neuromodulation Devices (28.35%) and Interventional Neuroradiology (20.47%).
Of the global medical devices market value, the Neurology Devices market held a 2% share worth $8bn in 2020 and is expected to reach $11.1bn by 2025.
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Neurology Devices development activity: Advanced stage of development leads
Devices at an advanced stage of development (in clinical trials, in the approval process, already approved in Europe or the rest of the world) accounted for 50.78% of medical devices in 2020, compared with 57.14% in 2019. The number of devices at the In Approval stage declined by 57% in 2020, when compared with 2019.
The In Approval stage is considered to be the period where the manufacturer is waiting for final approval from regulators, following completion of the required development steps.
A decrease in products awaiting approval would indicate less new products entering the market in the coming months, while an increase indicates more devices entering the market, posing a market share threat to existing marketed devices.
North America tops pipeline Neurology Devices products activity
Comparing the number of pipeline Neurology Devices products activity in different regions of the globe, North America held the top position (69%) during 2020, followed by Europe (21%), and Asia-Pacific (9%).
On a country level, the US had the most pipeline Neurology Devices during the year, representing the largest share (74%) of Neurology pipeline products. In second place was Australia (5%), followed by South Korea (4%).
New pipeline Neurology medical devices: Expected to be approved by 2025
According to GlobalData, approximately 61% of pipeline Neurology Devices in 2020 were expected to receive regulatory approval by the end of 2025. The leading categories for devices expected to receive regulatory approval by the end of 2025 was Electrical Activity Testing, at 8% of devices. Differences in regulatory approval timelines reflect the stage of development for a device, the device complexity or risk categorization (or device class) or if there are changes in regulatory oversight.
Vesalio LLC tops Neurology Devices development in 2020
According to GlobalData, top ten medical device companies accounted for 30.71% of pipeline Neurology Devices activity during 2020. The leading company for developing Neurology Devices was Vesalio LLC with 6.3%, followed by MemoryMD Inc at 5.51%.
Companies launching new medical devices are more likely to disrupt existing market share or are better able to defend existing share.
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By GlobalDataCompany-developed pipeline products lead Neurology Devices in development
Looking at the share of activity in terms of Neurology pipeline products developers, company-developed pipeline products accounted for an 87% share of the Neurology medical devices market, while institute-developed pipeline products held the remaining share.
The monthly average for 2020 saw company-developed Neurology pipeline products account for 87% of pipeline products and institute-developed pipeline products account for 13%.
Methodology
The medical devices pipeline data used in this article were extracted from Medical Pipeline Products Database of GlobalData’s Medical Intelligence Center. Pipeline Products database covers all medical devices which are in development stage and intended for diagnosis, treatment, and management of diseases/conditions/symptoms directly or indirectly. Pipeline products are covered from various authenticated sources like company websites, SEC filings, conference presentations, analyst presentations, news releases, grants etc. The information is collected by following systematic research techniques and proprietary methodology.
