The Brazil neurology devices market size is expected to register a robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising incidence of neurological disorders, massive investments by private companies in neurology devices, and growth in R&D activities in the field of neurotherapies.
Neurology is concerned with medical treatment and study of syndrome of the nervous system. It is sophisticated, complex system which coordinates and regulates body activities. Human body has two major nervous system, namely central nervous system and peripheral nervous system. Central nervous system contains spinal cord and the brain. Peripheral nervous system contains all remaining neural elements such as ears, eyes, skins and other sensory receptors.
Neurological devices help to prevent, diagnose, and treat various types of neurological disorders such as major depression, spinal cord injury, Alzheimer’s disease, epilepsy, traumatic brain injury, and Parkinson’s disease. It helps to restore sight and hearing and is responsible for improving functions for those with hereditary limb differences.
Market Trends, Drivers, Restraints, and Opportunities
- Rising geriatric population is anticipated to drive the market growth. This is due to the fact that older people are more susceptible to neurological disorders such as Parkinson’s disease and Alzheimer’s disease.
- High demand for minimally intrusive surgeries and rising spending power are estimated to spur the growth of the market.
- Upgrade in healthcare infrastructure and development of progressive devices are expected to propel the growth of the market during the forecast period.
- Stringent government regulations toward the authorization of neurology devices and lack of skilled neurosurgeons can hamper the market growth.
- The introduction of innovative products and technological developments in the neurology devices to make disease diagnosis easier for the efficient treatment of neurovascular disorders period can create lucrative opportunities for the market during the forecast period.
Scope of the Neurology Devices Market Report
The report on the Brazil neurology devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Neurology Devices Market - Brazil Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Type of Devices (Cerebrospinal Fluid Management Devices, Neurosurgery Devices [Stereotactic Systems, Aneurysm Clips, Neuroendoscopes, and Others], Interventional Neurology Devices [Neurothrombectomy Devices, Embolic Coils, Carotid Artery Stents, Interventional/Surgical Simulators, and Support Devices], Neurostimulation Devices [Deep Brain Stimulation Devices, Spinal Cord Stimulation Devices, Sacral Nerve Stimulation Devices, and Others], and Others)
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Country
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Brazil
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Stryker Corporation; B. Braun Melsungen AG; Abbott Laboratories; Medtronic PLC; and Boston Scientific Corporation
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Brazil Neurology Devices Market Segment Insights
Neurostimulation devices segment is anticipated to constitute a key market share
Based on type of devices, the market is segregated into cerebrospinal fluid management devices, neurosurgery devices, interventional neurology devices, neurostimulation devices, and others. The neurosurgery devices segment is further classified as stereotactic systems, aneurysm clips, neuroendoscopes, and others. The interventional neurology devices segment is divided into neurothrombectomy devices, embolic coils, carotid artery stents, interventional/surgical simulators, and support devices. The neurostimulation devices segment is categorized as deep brain stimulation devices, spinal cord stimulation devices, sacral nerve stimulation devices, and others. The sacral nerve stimulation sub-segment is expected to constitute a key share of the market during the projected period.
Sacral nerve stimulation devices are typically used for those patient for whom medication or other types of medications are not successful. It is done by small device that has ability to transfer electrical impulses to the directed sacral nerves situated in the lower back. These devices are effective in handling bladder problems. Increasing cases of overactive bladder is anticipated to spur the segment growth during the forecast period.
Segments
The Brazil neurology devices segmented on the basis of:
Type of Devices
- Cerebrospinal Fluid Management Devices
- Neurosurgery Devices
- Stereotactic Systems
- Aneurysm Clips
- Neuroendoscopes
- Others
- Interventional Neurology Devices
- Neurothrombectomy Devices
- Embolic Coils
- Carotid Artery Stents
- Interventional/Surgical Simulators
- Support Devices
- Neurostimulation Devices
- Deep Brain Stimulation Devices
- Spinal Cord Stimulation Devices
- Sacral Nerve Stimulation Devices
- Others
- Others
Country
Key Players
Competitive Landscape
The key players competing in the Brazil neurology devices market are Stryker Corporation; B. Braun Melsungen AG; Abbott Laboratories; Medtronic PLC; and Boston Scientific Corporation.
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