Sweden Neurology Devices Market Outlook 2031:
The Sweden neurology devices market size was valued at USD 45 Million in 2022 and is projected to reach USD 66.87 Million by 2031, expanding at a CAGR of 4.5% during the forecast period 2023 - 2031. 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 fast recanalization and low bleeding risk. The overall market is predicted to rise due to rising healthcare spending, increased foreign direct investment by global medical device manufacturers, and rising neurological illness prevalence.
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 the 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 the Neurology Devices Market Report
The report on the Sweden neurology devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Sweden Neurology Devices Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Photoelectric, Dual-sensor, Ionization), End-users (Hospitals, Ambulatory Surgery Centers, and Neurology Clinics)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
|B. Braun Melsungen AG, Stryker Corporation, Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories
Sweden Neurology Devices Market Segment Insights
The sacral nerve stimulation segment is projected to hold a major market share
Based on types, the Sweden neurology devices market is segregated into neurosurgery devices, neurostimulation device, interventional neurology device, neurosurgery device, cerebrospinal fluid management device, 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 neuro therapies. These devices are effective in treating bladder problems.
Therefore, as the incidence of the 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 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.
The Sweden neurology devices market is segmented on the basis of
- Ambulatory Surgery Centers
- Neurology Clinics
The major players in the Sweden neurology devices market include BRK Brands, Hochiki America, Honeywell International, Kidde, Siemens, Apollo Fire Detectors, and Emerson Electric.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.