The Japan neurology devices market size is expected to expand at a high CAGR of 5.5% during the forecast period, 2021–2028. Growth of the market is attributed to the increasing neurological diseases, rising investment in neuroscience equipment by private agents, and the growth of R&D in neurotherapies.
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.
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 Japan 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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Japan Neurology Devices Market - 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, Interventional Neurology Devices [Interventional/Surgical Simulators, Neurothrombectomy Devices, Carotid Artery Stents, and Others], Neurosurgery Devices [Neuroendoscopes, Stereotactic Systems, and Others], Neurostimulation Devices [Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, Sacral Nerve Stimulation Devices, and Others], and Others), and End Users (Hospitals, Ambulatory Surgery Centers, and Neurology Clinics)
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Geography
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Japan
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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, Abbott Laboratories, Boston Scientific Corporation, B. Braun Melsungen AG, and Medtronic PLC
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Neurology Devices Market Segment Insights
The sacral nerve stimulation segment is projected to hold a major market share
Based on type of devices, the neurology devices market is fragmented into cerebrospinal fluid management devices, interventional neurology devices, neurosurgery devices, neurostimulation devices, and others. The sacral nerve stimulation segment is expected to represent a key share of the market during the forecast period owing to increasing neurological diseases, large investment in neuroscience equipment by private agents, and growth of R&D in neurotherapies. These devices are effective in treating bladder problems. Therefore, as the incidence of overactive bladder increases, it is expected that the demand for sacral nerve stimulation devices will grow during the forecast period. The sacral nerve stimulation device is an effective and safe method for treating patients with stool and urinary dysfunction. Increasing demand for minimally invasive therapies, increasing prevalence of bladder diseases, and introduction of new coatings and engineering strategies are the main factors driving the market.
The hospitals segment is anticipated to expand at a substantial CAGR
Based on end users, the 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, 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 Japan neurology device market has been segmented on the basis of
Type of Devices
- Cerebrospinal Fluid Management Devices
- Interventional Neurology Devices
- Interventional/Surgical Simulators
- Neurothrombectomy Devices
- Carotid Artery Stents
- Others
- Neurosurgery Devices
- Neuroendoscopes
- Stereotactic Systems
- Others
- Neurostimulation Devices
- Spinal Cord Stimulation Devices
- Deep Brain Stimulation Devices
- Sacral Nerve Stimulation Devices
- Other Neurostimulation Devices
- Other Types of Devices
End Users
- Hospitals
- Ambulatory Surgery Centers
- Neurology Clinics
Key Players
Competitive Landscape
Key players competing in the neurology devices market include Stryker Corporation, Abbott Laboratories, Boston Scientific Corporation, B. Braun Melsungen AG, and Medtronic PLC.
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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