The China neurology devices market size was valued at USD 1.01 Billion in 2022 and is anticipated to reach USD 2.25 Billion by 2031, expanding at a CAGR of 9.3% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing number of neurological diseases, rising investment in neuroscience equipment by private agents, and the growth of R&D in neuro therapies.
Neurological equipment helps in early detection of various neurological diseases to help prevent Alzheimer’s disease, major depression, spinal cord injury, acute ischemic stroke, traumatic brain injury, and other diseases. These devices represent minimally invasive based technology.
Neurological devices are usually used in complex neurological cases, such as acute ischemic stroke, and are recommended for minimally invasive treatment. Compared to drug thrombolysis, these devices have potential advantages, such as faster recanalization and lower bleeding risk.
The Covid-19 pandemic affected the demand and supply of China neurology devices market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
China Neurology Devices Market Trends, Drivers, Restraints, and Opportunities
- Increasing investment in pharmaceutical and biotechnology industry is anticipated to boost the market during the forecast period.
- Rapid growth of the healthcare industry due to increasing geriatric population is the major factors fueling the market during the forecast period.
- Growing demand for minimally invasive surgeries and improvement in healthcare infrastructure is projected to drive the market during forecast period.
- High cost of neurological treatments and devices is anticipated to restrict the market growth.
- Implementations of strict regulations by government on neurological devices act as major challenges that can hamper the market growth during the forecast period.
- R&D investment and technological advancement of neurological devices for easy and minimally invasive diagnosis of neurological disorders is expected to offer immense opportunities for the market players.
Scope of Neurology Devices Market Report
The report on the China 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 - China Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Cerebrospinal Fluid Management Device, Interventional Neurology Device, Neurosurgery Device, Neurostimulation Device, and Others), End-users (Hospitals, Ambulatory Surgery Centers, and Neurology Clinics)
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Country Scope
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China
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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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Abbott Laboratories; B. Braun Melsungen AG; Boston Scientific Corporation; Johnson and Johnson; Medtronic PLC; MicroPort Scientific; Nihon Kohden Corporation; Smith & Nephew plc; and Stryker Corporation.
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China Neurology Devices Market Segment Insights
The cerebrospinal fluid management device segment holds a major market share
Based on types, the China neurology devices market is segregated into cerebrospinal fluid management devices, interventional neurology devices, neurosurgery device, neurostimulation device, and others. The cerebrospinal fluid management device segment is anticipated to expand at a rapid pace. The CSF imbalance can cause an increase in intracranial pressure (ICP), which can cause a variety of symptoms. In recent years, there has been tremendous development in the diagnosis and treatment of neurological illnesses, which is projected to drive market the market during forecast period.
The hospitals segment is anticipated to expand at a substantial CAGR
Based on end users, the China neurology devices market is segregated into hospitals, ambulatory surgery centers, and neurology clinics. The hospital segment accounts for a significant share of the market. Growth of the market is attributed to increasing prevalence of neurological disorders and rapid advancement in neurology devices.
On the other hand, the ambulatory surgery centers segment is anticipated to expand at a rapid pace during the forecast period due to increasing inclination of patients for minimally invasive medical procedures, the increasing number of outpatient surgery centers in developed countries, and convenience of programming in these centers, professional clinical staff, increased productivity, and increased safety and efficiency.
Segments
The China neurology devices market is segmented on the basis of
Types
- Photoelectric
- Dual-sensor
- Ionization
End-users
- Hospitals
- Ambulatory Surgery Centers
- Neurology Clinics
Country
Key Players
- Abbott Laboratories
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Johnson and Johnson
- Medtronic PLC
- MicroPort Scientific
- Nihon Kohden Corporation
- Smith & Nephew plc
- Stryker Corporation
Competitive Landscape
Major players competing in the China neurology devices market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Johnson and Johnson, Medtronic PLC, MicroPort Scientific, Nihon Kohden Corporation, Smith & Nephew plc, and Stryker Corporation.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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