The number of pipeline Neurology products in 2021 saw a 135% rise globally when compared to Neurology pipeline products in 2020, according to GlobalData’s pipeline products database. This compares to an 15% rise for all pipeline medical devices in 2021 compared to 2020.
The global Neurology Devices market was worth $11.45bn in 2020 and is expected to reach $11.10bn by 2025, according to GlobalData’s analysis.
Neurology Devices pipeline products by categories: Neuromodulation Devices has the most devices
Looking at the device categories of pipeline products, Neuromodulation Devices accounted for the largest proportion (36.39%) in 2021, followed by Interventional Neuroradiology (34.43%) and Neurological Diagnostic and Monitoring Equipment (11.8%).
Of the global medical devices market value, the Neurology Devices market held a 2% share worth $11bn in 2021 and is expected to reach $11.1bn by 2025.
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 51.16% of medical devices in 2021, compared with 53.44% in 2020. The number of devices at the In Approval stage inclined by 350% in 2021, when compared with 2020.
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 (45%) during 2021, followed by Asia-Pacific (36%), and Europe (18%).
On a country level, the US had the most pipeline Neurology Devices during the year, representing the largest share (44%) of Neurology pipeline products. In second place was China (27%), followed by South Korea (4%).
New pipeline Neurology medical devices: Expected to be approved by 2025
According to GlobalData, approximately 63% of pipeline Neurology Devices in 2021 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 Neurovascular Thrombectomy Devices, at 5% 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.
Zylox-Tonbridge Medical Technology Co Ltd tops Neurology Devices development in 2021
According to GlobalData, top ten medical device companies accounted for 28.2% of pipeline Neurology Devices activity during 2021. The leading company for developing Neurology Devices was Zylox-Tonbridge Medical Technology Co Ltd with 4.92%, followed by HeMo Bioengineering Ltd at 4.26%.
Companies launching new medical devices are more likely to disrupt existing market share or are better able to defend existing share.
Company-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 84% share of the Neurology medical devices market, while institute-developed pipeline products held the remaining share.
The monthly average for 2021 saw company-developed Neurology pipeline products account for 84% of pipeline products and institute-developed pipeline products account for 16%.
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.