The Future of the Neurology Devices Market to 2016 – Market Forecasts Competitive Landscape and P by GBIResearch

VIEWS: 164 PAGES: 77

More Info
									  The Future of the Neurology Devices Market to 2016 – Market
    Forecasts, Competitive Landscape and Pipeline Analysis
 Reference Code: GBIME0005MR                                                                                                 Publication Date: February 2010

                                     The Global Neurology Devices Market to Exceed $5 billion by 2016
                                     The global neurology devices market is forecast to exceed $5 billion by 2016 with a Compound
                                     Annual Growth Rate (CAGR) of 12.5% from 2009-2016.
US is the biggest market
for neurology devices and              Neurology Devices Market, Global, Overall Revenues ($ billion), 2009 – 2016
it contributed 64% towards
the global market in 2009.                                                    6



                                                                              5


                                                                                                       12.5%
                                                                              4
                                                       Revenues ($ billion)




                                                                              3



                                                                              2



                                                                              1



                                                                              0
                                                                                            2009                              2016


                                       Source: GBI Research



                                     The market is expected to be driven by patient demographics, increasing physician adoption,
                                     patient demand and the availability of reimbursement for the procedures. Globally million people
                                     suffer from epilepsy at any given time and in the US, about three million individuals have some
                                     form of epilepsy. The huge patient population which is being affected with various neurological
                                     disorders presents huge growth opportunities for the market in the future. Neurological disorders
                                     such as epilepsy and chronic migraines do not respond well to drugs mean that neurological
                                     devices will move further up the continuum of care.
                                     The US to Continue to be the Biggest Market for Neurology Devices

                                       Neurology Devices Market, US and Remaining Countries Contribution(%), 2009



                                                                                    Remaining
                                                                                  Countries, 36%




                                                                                                                                US, 64%




                                       Source: GBI Research




The Future of the Neurology Devices Market to 2016 – Market                                                                  GBIME0005MR /Published FEB 2010
Forecast, Competitive Landscape and Pipeline Analysis
                                                                                                                                                           Page 1
                                                                                            © GBI Research. This is a licensed product and is not to be photocopied
                                     The US is the biggest market for neurology devices contributing 64% towards the global market in
                                     2009. The US neurology device market valued at $1.6 billion in 2009 is forecast to grow at a CAGR
                                     of 12% to reach $3.5 billion in 2016. The market is expected to be driven by increasing physician
  In 2008, Medtronic with            adoption and possible FDA approval for new indications. Growth in neurostimulation devices,
  45% share was the global           safety and efficacy of existing neurology devices and increasing investments by both existing
  leader in the neurology            players and new companies who are trying to enter the neurology devices are expected to further
  devices market.                    drive the growth in the market.
                                     Neurostimulation Devices is the Fastest Growing Category in the Global Neurology Devices
                                     Market
                                     Neurostimulation devices is the fastest growing category within the neurology devices market. It is
                                     forecast to grow at a CAGR of 15% for the next seven years to exceed $3.5 billion by 2016.
                                     Historically the market grew at a rate of 11.7% in the last seven years. The market is expected to
                                     be driven by it use in post cancer therapy pain, lower back pain, Parkinson’s disease, epilepsy,
                                     migraines and chronic pain. Clinical data supporting the use of neurology devices to treat various
                                     neurological disorders is expected to increase the physician adoption. Steady increase in the
                                     incidence rate of spinal disease and the increase in average life expectancy are expected to boost
                                     growth in the market.
                                     Medtronic is the Dominant Player in the Global Neurology Devices Market

                                       Global Neurology Devices Market, Companies Share (%), 2008




                                                                                                                     Medtronic, 45%

                                                                Remaining
                                                              Companies, 55%




                                       Source: GBI Research



                                     In 2008, Medtronic with a 45% market share dominated the global neurology devices market. The
                                     company’s dominance can be attributed to its huge presence in neurostimulation devices and
                                     cerebrospinal fluid management market categories. However, the competition is expected to
                                     intensify in the future as companies attempt to secure and grow their positions in the market. About
                                     50 new products are expected to hit the market in the next few years. This may result in a shift in
                                     the prevailing competitive landscape. A strong pipeline of products and consolidation are expected
                                     to intensify the competition further.
                                     Patient Demographics to be the Key Driver for Neurology Devices Market Growth in the
                                     Future
                                     Globally, 50 million people suffer from epilepsy at any given time and in the US an estimated 140
                                     million people are affected with neurological disorders such as chronic pain, migraine, stroke,
                                     Alzheimer's disease, epilepsy and Parkinson's disease. Out of the 3 million Americans suffering
                                     from epilepsy, about one million patients do not respond to current treatment options and continue
                                     to experience seizures. This huge patient population presents opportunities for growth in the future.
                                     Also the fact that some of the neurological disorders including epilepsy do not respond well to
                                     drugs means that neurological devices can be used at an earlier stage of treatment after the initial
                                     failure of the pharmaceuticals.




The Future of the Neurology Devices Market to 2016 – Market                                                     GBIME0005MR /Published FEB 2010
Forecast, Competitive Landscape and Pipeline Analysis
                                                                                                                                              Page 2
                                                                               © GBI Research. This is a licensed product and is not to be photocopied
                                     1 Table of Contents
                                     1    Table of Contents .................................................................................................................... 3
                                       1.1      List of Tables.................................................................................................................. 6
                                       1.2      List of Figures................................................................................................................. 7
                                     2    Introduction .............................................................................................................................. 8
                                       2.1      GBI Research Guidance ................................................................................................ 8
                                     3    Neurology Devices: Market Characterization........................................................................... 9
                                       3.1      Global Neurology Devices Market, Revenue ($ billion), 2002 – 2009 ............................ 9
                                       3.2      Global Neurology Devices Market, Revenue Forecast ($ billion), 2009 – 2016 .......... 10
                                       3.3      Global Neurology Devices Market, Key Trends............................................................ 10
                                          3.3.1     Technological Advances to be a Mainstay in the Neurology Devices Market.......... 10
                                          3.3.2     Neurology Devices Market is Increasingly Attracting Interest from Cardiovascular
                                          Device Companies................................................................................................................. 11
                                          3.3.3     Remote Patient Monitoring is a Distinct Possibility in near Future........................... 11
                                       3.4      Neurology Devices, Market Dynamics.......................................................................... 11
                                          3.4.1     Market Drivers ......................................................................................................... 11
                                          3.4.2     Market Restraints .................................................................................................... 12
                                       3.5      Global Neurology Devices Market, Key Company Share (%), 2008 ............................ 14
                                     4    Global Neurology Devices Market: Category Analysis and Forecasts ................................... 15
                                       4.1      Neurostimulation Devices............................................................................................. 15
                                       4.2      Neurostimulation Devices Market, Global, Revenue ($m), 2002 – 2009...................... 16
                                       4.3      Neurostimulation Devices Market, Global, Revenue Forecast ($m), 2009 – 2016 ....... 17
                                       4.4      Neurostimulation Devices: Market Dynamics ............................................................... 17
                                          4.4.1     Market Drivers ......................................................................................................... 17
                                          4.4.2     Market Restraints .................................................................................................... 19
                                       4.5      Neurostimulation Devices Market, Global, Company Shares (%), 2008 ...................... 20
                                       4.6      Interventional Neurology .............................................................................................. 20
                                       4.7      Interventional Neurology Market, Global, Revenue ($m), 2002 – 2009........................ 21
                                       4.8      Interventional Neurology Market, Global, Revenue Forecast ($m), 2009 – 2016........ 22
                                       4.9      Interventional Neurology: Market Dynamics................................................................. 22
                                          4.9.1     Market Drivers ......................................................................................................... 22
                                          4.9.2     Market Restraints .................................................................................................... 23
                                       4.10     Interventional Neurology Market, Global, Company Shares (%), 2008 ........................ 24
                                       4.11     CSF Management ........................................................................................................ 24
                                       4.12     CSF Management Market, Global, Revenue ($m), 2002 – 2009 ................................. 25
                                       4.13     Global CSF Management Market, Revenue Forecasts ($m), 2009 – 2016.................. 26
                                       4.14     CSF Management: Market Dynamics .......................................................................... 26
                                          4.14.1       Market Driver: Hydrocephalus Prevalence to Drive the Market in the Future ..... 26
                                          4.14.2       Market Restraint: Lack of Accurate Diagnosis is Slowing the Market Growth..... 27
                                       4.15     Global CSF Management Market, Global, Company Shares (%), 2008 ...................... 27
                                       4.16     Neurosurgical Products ................................................................................................ 27
                                       4.17     Neurosurgical Products Market, Global, Revenue ($m), 2002 – 2009 ......................... 28
                                       4.18     Neurosurgical Products Market, Global, Revenue Forecast ($m), 2009 – 2016 ......... 29
                                       4.19     Neurosurgical Products: Market Dynamics .................................................................. 29
                                          4.19.1       Market Drivers .................................................................................................... 29
                                          4.19.2       Market Restraints: Technical Difficulties in Performing the Procedure and Advent
                                          of Ventricular Shunts is Slowing the Market Growth .............................................................. 30
                                       4.20     Global Neurosurgical Products Market, Key Company Shares (%), 2008.................... 30
                                       4.21     Radiosurgery................................................................................................................ 31
                                       4.22     Global Radiosurgery Market, Global, Revenue ($m), 2002 – 2009.............................. 31
                                       4.23     Global Radiosurgery Market, Revenue Forecasts ($m), 2009 – 2016 ......................... 32
                                       4.24     Radiosurgery: Market Dynamics .................................................................................. 32
                                          4.24.1       Market Drivers .................................................................................................... 32



The Future of the Neurology Devices Market to 2016 – Market                                                                          GBIME0005MR /Published FEB 2010
Forecast, Competitive Landscape and Pipeline Analysis
                                                                                                                                                                             Page 3
                                                                                        © GBI Research. This is a licensed product and is not to be photocopied
                                          4.24.2       Market Restraint: High Cost of Radiosurgery Systems is Slowing the Purchasing
                                          Decision of the Hospitals ....................................................................................................... 33
                                       4.25     Global Radiosurgery Market, Key Company Shares (%), 2008 ................................... 33
                                     5    Global Neurology Devices Market: Country Analysis and Forecasts ..................................... 35
                                       5.1      Neurology Devices Market: Cross-Country Analysis .................................................... 35
                                       5.2      Revenue, By Country, 2002 – 2009 ............................................................................. 36
                                          5.2.1    The US Neurology Devices Market, Revenues ($m), 2002 – 2009 ......................... 36
                                          5.2.2    Canada Neurology Devices Market, Revenues ($m), 2002 – 2009......................... 36
                                          5.2.3    The UK Neurology Devices Market, Revenues ($m), 2002 – 2009 ......................... 37
                                          5.2.4    Germany Neurology Devices Market, Revenues ($m), 2002 – 2009 ...................... 38
                                          5.2.5    France Neurology Devices Market, Revenues ($m), 2002 – 2009 .......................... 38
                                          5.2.6    Italy Neurology Devices Market, Revenues ($m), 2002 – 2009............................... 39
                                          5.2.7    Spain Neurology Devices Market, Revenues ($m), 2002 – 2009 ............................ 40
                                          5.2.8    Japan Neurology Devices Market, Revenues ($m), 2002 – 2009 ........................... 40
                                          5.2.9    China Neurology Devices Market, Revenues ($m), 2002 – 2009............................ 41
                                          5.2.10       India Neurology Devices Market, Revenues ($m), 2002 – 2009......................... 42
                                          5.2.11       Australia Neurology Devices Market, Revenues ($m), 2002 – 2009................... 42
                                          5.2.12       Brazil Neurology Devices Market, Revenues ($m), 2002 – 2009 ....................... 43
                                       5.3      Revenue Forecasts, By Country, 2009 – 2016............................................................. 44
                                          5.3.1    The US Neurology Devices Market, Revenues ($m), 2009 – 2016 ......................... 44
                                          5.3.2    Canada Neurology Devices Market, Revenues ($m), 2009 – 2016......................... 44
                                          5.3.3    The UK Neurology Devices Market, Revenues ($m), 2009 – 2016 ......................... 45
                                          5.3.4    Germany Neurology Devices Market, Revenues ($m), 2009 – 2016 ...................... 46
                                          5.3.5    France Neurology Devices Market, Revenues ($m), 2009 – 2016 .......................... 46
                                          5.3.6    Italy Neurology Devices Market, Revenues ($m), 2009 – 2016............................... 47
                                          5.3.7    Spain Neurology Devices Market, Revenues ($m), 2009 – 2016 ............................ 48
                                          5.3.8    Japan Neurology Devices Market, Revenues ($m), 2009 – 2016 ........................... 48
                                          5.3.9    China Neurology Devices Market, Revenues ($m), 2009 – 2016............................ 49
                                          5.3.10       India Neurology Devices Market, Revenues ($m), 2009 – 2016......................... 50
                                          5.3.11       Australia Neurology Devices Market, Revenues ($m), 2009 – 2016................... 50
                                          5.3.12       Brazil Neurology Devices Market, Revenues ($m), 2009 – 2016 ....................... 51
                                     6    Global Neurology Devices Market: Competitive Assessment ................................................ 52
                                       6.1      Medtronic ..................................................................................................................... 52
                                       6.2      Boston Scientific Corporation ....................................................................................... 53
                                       6.3      St. Jude Medical........................................................................................................... 54
                                       6.4      Cordis Corporation ....................................................................................................... 55
                                       6.5      ev3 ............................................................................................................................... 55
                                     7    Global Neurology Devices Market: Product Pipeline Analysis ............................................... 57
                                       7.1      Neurostimulation Devices............................................................................................. 57
                                          7.1.1    Boston Scientific Corporation: Bion Microstimulator System ................................... 58
                                          7.1.2    NeuroPro Technologies: Deep Brain Stimulation .................................................... 58
                                          7.1.3    Brainsway: Deep TMS H System ............................................................................ 58
                                          7.1.4    Cyberonics: Direct Deep Brain Stimulation.............................................................. 58
                                          7.1.5    Intelect Medical: Enspire DBS Therapy system for stroke....................................... 58
                                          7.1.6    Intelect Medical: Enspire Deep Stimulation therapy system .................................... 58
                                          7.1.7    St. Jude Medical: Libra Deep Brain Stimulation System.......................................... 59
                                          7.1.8    St. Jude Medical: Libra Deep Brain Stimulation System-depression....................... 59
                                          7.1.9    St. Jude Medical: Libra Deep Brain Stimulation System-essential tremor ............... 59
                                          7.1.10       St. Jude Medical: LibraXP Deep Brain Stimulation System ................................ 59
                                          7.1.11       The Magstim Company Limited: Magstim Rapid ................................................ 59
                                          7.1.12       Cleveland Medical Devices: ParkinTune ............................................................ 60
                                          7.1.13       Northstar Neuroscience: Renova-DT Cortical Stimulation System ..................... 60
                                          7.1.14       Duke University: Spinal Cord Stimulator............................................................. 60
                                          7.1.15       DynaMed Systems: Traxon ................................................................................ 60
                                          7.1.16       Cyberonics: 3T MRI Safe Lead........................................................................... 60

The Future of the Neurology Devices Market to 2016 – Market                                                                         GBIME0005MR /Published FEB 2010
Forecast, Competitive Landscape and Pipeline Analysis
                                                                                                                                                                            Page 4
                                                                                       © GBI Research. This is a licensed product and is not to be photocopied
                                          7.1.17      Cyberonics: Nerve Wrap..................................................................................... 61
                                          7.1.18      Cyberonics: Next Generation Programmer-VNS therapy ................................... 61
                                          7.1.19      Cyberonics: Next Generation Wand-VNS therapy .............................................. 61
                                          7.1.20      Cyberonics: NXT HC-Pulse Generator ............................................................... 61
                                          7.1.21      Cyberonics: NXT NP-Pulse Generator ............................................................... 61
                                          7.1.22      Cyberonics: NXT SR-Pulse Generator ............................................................... 61
                                          7.1.23      Boston Scientific Corporation: Precision Implantable neurostimulator................ 62
                                          7.1.24      MICROTRANSPONDER: Wireless Vagus Nerve Stimulator .............................. 62
                                       7.2      Interventional Neurology .............................................................................................. 63
                                          7.2.1    Neurovasx: cPAX Aneurysm Treatment System ..................................................... 63
                                          7.2.2    ev3: Pipeline Embolization Device .......................................................................... 64
                                          7.2.3    BioCure: GelCoil...................................................................................................... 64
                                          7.2.4    Micrus Endovascular Corporation: Occlusion balloons............................................ 64
                                          7.2.5    Micrus Endovascular Corporation: Cerecyte Microcoil ............................................ 64
                                          7.2.6    Micrus Endovascular Corporation: InterPaq Microcoil ............................................. 64
                                          7.2.7    Micrus Endovascular Corporation: MicruSphere Microcoil ...................................... 64
                                          7.2.8    Micrus Endovascular Corporation: UltiPaq Microcoil ............................................... 65
                                          7.2.9    Micrus Endovascular Corporation: Liquid embolic product...................................... 65
                                          7.2.10      Valor Medical: Neucrylate................................................................................... 65
                                          7.2.11      Surpass Medical Ltd: Brain Aneurysm Occluder ................................................ 65
                                          7.2.12      Micrus Endovascular Corporation: Flow diversion technology............................ 65
                                          7.2.13      W. L. Gore & Associates: GORE Embolic Filter ................................................. 66
                                          7.2.14      ev3: Solitaire FR Revascularization Device ........................................................ 66
                                       7.3      CSF Management ........................................................................................................ 66
                                          7.3.1    NeuroDx Development LLC: ICP Check.................................................................. 66
                                          7.3.2    Neuro Diagnostic Devices: Implantable ICP monitor ............................................... 66
                                          7.3.3    University of Cincinnati: Smart Sensor .................................................................... 67
                                          7.3.4    University Hospital Zurich: SmartShunt ................................................................... 67
                                          7.3.5    CSF Therapeutics: CSF Therapeutic device ........................................................... 67
                                          7.3.6    NeuroSystems, LLC: Multimodality monitoring........................................................ 67
                                          7.3.7    Biosan Medical Ltd: Ventritek105 ............................................................................ 67
                                       7.4      Neurosurgical Products ................................................................................................ 68
                                          7.4.1    Xylos Corporation: Dura replacement product......................................................... 68
                                          7.4.2    JetGuide Ltd: JetGuide-Neuro................................................................................. 68
                                          7.4.3    NICO Corporation: Myriad System .......................................................................... 68
                                          7.4.4    Renishaw plc: Neuroenhance.................................................................................. 68
                                          7.4.5    Renishaw plc: Neurolocate...................................................................................... 68
                                     8    Global Neurology Devices Market: Consolidation Landscape ............................................... 69
                                       8.1      Deals by Volume, 2006 – 2009 .................................................................................... 69
                                       8.2      Key Deals in 2009 ........................................................................................................ 71
                                          8.2.1    ev3 Completes Acquisition Of Chestnut Medical..................................................... 71
                                          8.2.2    St. Jude Medical Acquires Northstar Neuroscience ................................................ 72
                                     9    Appendix................................................................................................................................ 73
                                       9.1      Definitions .................................................................................................................... 73
                                          9.1.1    Neurology Devices .................................................................................................. 73
                                       9.2      Acronyms ..................................................................................................................... 74
                                       9.3      Research Methodology ................................................................................................ 75
                                          9.3.1    Secondary Research ............................................................................................... 75
                                          9.3.2    Primary Research.................................................................................................... 76
                                          9.3.3    Models..................................................................................................................... 76
                                          9.3.4    Forecasts................................................................................................................. 76
                                          9.3.5    Expert Panels .......................................................................................................... 76
                                       9.4      Contact Us ................................................................................................................... 77
                                       9.5      Disclaimer .................................................................................................................... 77



The Future of the Neurology Devices Market to 2016 – Market                                                                         GBIME0005MR /Published FEB 2010
Forecast, Competitive Landscape and Pipeline Analysis
                                                                                                                                                                           Page 5
                                                                                       © GBI Research. This is a licensed product and is not to be photocopied
                                     1.1     List of Tables
                                     Table 1:     Neurology Devices Market, Global, Revenue ($ billion), 2002 – 2009 ........................... 9
                                     Table 2:     Neurology Devices Market, Global, Revenue ($ billion), 2009 – 2016 ......................... 10
                                     Table 3:     Healthcare Expenditure as Percentage of GDP, Top 12 Countries, 2008.................... 13
                                     Table 4:     Neurology Devices Market, Global, Company Share (%), 2008................................... 14
                                     Table 5:     Neurostimulation Devices Market, Global, Revenue ($m), 2002 – 2009...................... 16
                                     Table 6:     Neurostimulation Devices Market, Global, Overall Revenues ($m), 2009 – 2016........ 17
                                     Table 7:     65 and older population (m), Global, Percentage of 65 and older population, 2008 –
                                     2015         19
                                     Table 8:     Neurostimulation Devices Market, Global, Company Share (%), 2008 ........................ 20
                                     Table 9:     Interventional Neurology Market, Global, Revenue ($m), 2002 – 2009........................ 21
                                     Table 10:       Interventional Neurology Market, Global, Revenue ($m), 2009 – 2016 ................... 22
                                     Table 11:       Interventional Neurology Market, Global, Company Share (%), 2008 ..................... 24
                                     Table 12:       CSF Management Market, Global, Revenue ($m), 2002 – 2009............................. 25
                                     Table 13:       CSF Management Market, Global, Revenue ($m), 2009 – 2016............................. 26
                                     Table 14:       CSF Management Market, Global, Company Shares (%), 2008 ............................. 27
                                     Table 15:       Neurosurgical Products Market, Global, Revenue ($m), 2002 – 2009 .................... 28
                                     Table 16:       Neurosur
								
To top