UNITED KINGDOM NEUROLOGY DEVICES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 Neurostimulation devices are implantable, programmable medical devices that deliver electrical stimulation to specific parts of the patient’s brain, spinal cord, or peripheral nervous system to help treat various conditions, including chronic pain, movement disorders, epilepsy, and Parkinson’s disease. Neuromodulation is an intracranial, electrical neuromodulation therapy with Food and Drug Administration approval for treating most neurological conditions such as bladder control, headache, tremors, chronic pain, stroke, minimally conscious state, and spinal cord injury, which are most commonly found in the elderly population.

The high burden of neurological diseases and the increasing use of neurostimulation to treat such conditions is projected to augment the segment's growth. As per NICE, in 2020, there were around 137,000 people having Parkinson's disease in the United Kingdom. Also, in September 2022, the National Institute for Health and Care Excellence (NICE) issued a recommendation that ReActiv8 Restorative Neurostimulation is used in the National Health Service in the United Kingdom with special arrangements for clinical governance, consent, and audit or research. The high burden of neurological diseases is associated with the increase in the utility of neurostimulation devices for their management and is ultimately projected to boost the market growth.

Furthermore, the key market players' technological advancement, product launches, and availability of devices in the United Kingdom are propelling the segment's growth. For instance, in November 2021, Neuvana LLC, a wellness and neuroscience technology company, launched its new product, Xen, to be available to consumers in the 27 countries that comprise the European Union and the United Kingdom. Xen is a pocket-sized device that connects to a mobile phone through an app and sends a gentle electrical signal through patented earbuds to stimulate the vagus nerve in the ear. Such technological advancements and launches are linked to boosting the demand for these devices, which is ultimately projected to increase during the forecast period.

The UK neurology devices market is expected to grow with a CAGR of 7.5% during the forecast period. The impact of COVID-19 was adverse on the neurology devices market owing to the cancellations in elective procedures, including neurosurgery which impacted the market.

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