The South America neurology monitoring market size is expected to grow at a significant CAGR during the forecast period, 2021-2028. The growth of market is attributed to increasing prevalence of neurological diseases such as Parkinson’s diseases, peripheral neuropathy, brain tumors, and epilepsy.
Especially for the patients suffering from neurological diseases specialized monitoring setup is required in the operating room and intensive care units preventing from mechanical and ischemic injury to the nervous system, thus all these system administer the intracranial pressure and the flow of blood, and monitors the activity of the brain which allow the growth of the market in the coming years.
Manufacturers are investing heavily on research and development for product development such as implantable wireless brain devices to treat neurological and psychiatric diseases these devices are majorly used for combating with depression, reducing stress and bipolar disorder, and traumatic brain injuries by effectively manipulating brain signals.
With the COVID-19 outbreak neurological monitoring segment witnessed a massive downfall in the demand curve, the virus outbreak surged the demand for ventilators and the manufacturers are focusing more on meeting the demand for the same, along with the other devices such as respiratory and brain monitoring devices.
The pandemic affected severally on the neurology monitoring business as hospitals primary objective was to setup COVID-19 specific ICU’s accompanied by the temporary shutdown of the production and disrupted supply chain affected the regions globally.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing aging population and demand for medical care is expected to boost the market in the coming years.
- Increasing incidences of neurological diseases such as brain aneurysms, Parkinson’s diseases and more is estimated to propel the market during forecast period.
- Growing application of neurology monitoring in clinical trials is anticipated to drive the market during the projected period.
- Rising demand for non-invasive process by the patients is expected to augments the market during forecast period.
- Rapid growth in healthcare industry in developing market is estimated to fuel the market in the coming years.
- R&D and technological advancement in development of implantable wireless brain devices for the treatment of neurological and psychiatric disease creates lucrative opportunities for the key players in the market.
Scope of the market
The report on the South America neurology monitoring 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 Monitoring Market – South America 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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Product Types (Electroencephalography Devices, Magnetic Resonance Imaging (MRI) Devices, Cerebral Oximeters, Intracranial Pressure Monitors, Others), Diseases Types (Sleep Disorders, Parkinson’s Diseases, Traumatic Brain Injury (TBI), Other Diseases)
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Geographical Scope
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Brazil, Argentina, and Rest of South America
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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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GE Healthcare; Philips Healthcare; Natus Medical, Inc.; Nihon Kohden Corporation; Dragerwerk Ag & Co. Kgaa.
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Market Segment Insights
The electroencephalography devices segment is expected to hold key share of the market
Based on the product types, the market is segregated into electroencephalography devices, magnetic resonance imaging (MRI) devices, cerebral oximeters, intracranial pressure monitors, and others. The electroencephalography devices segment is expected to hold key share of the market during the forecast period due to measure and record the brain activity for effective treatment of sleep apnea, they are typically non-invasive thus demanded heavily, along with surging demand for high quality EEG devices in numerous companies to cater the need of EEG users impelling the market.
The traumatic brain injury (TBI) segment is anticipated to constitute major share of the market
On the basis of diseases types, the market is categorized into sleep disorders, Parkinson’s diseases, traumatic brain injury (TBI), and other diseases. The traumatic brain injury (TBI) segment is anticipated to constitute major share of the market in the coming years owing to growing number of incidence across globe leads to extensive demand for the management of these cases, hence intensive use of neurological monitoring devices are required.
Segments
Segments Covered in the Report
South America neurology monitoring market has been segmented on the basis of
Product types
- Electroencephalography Devices
- Magnetic Resonance Imaging (MRI) Devices
- Cerebral Oximeters
- Intracranial Pressure Monitors
- Others
Diseases types
- Sleep Disorders
- Parkinson’s Diseases
- Traumatic Brain Injury (TBI)
- Other Diseases
Geographies
- Brazil
- Argentina
- Rest of South America
Key players
- GE Healthcare
- Philips Healthcare
- Natus Medical, Inc.
- Nihon Kohden Corporation
- Dragerwerk Ag & Co. Kgaa.
Competitive Landscape
Key players competing in the South America neurology monitoring market include GE Healthcare; Philips Healthcare; Natus Medical, Inc.; Nihon Kohden Corporation; Dragerwerk Ag & Co. Kgaa.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance In July 2020, Philips Healthcare and Biointellisense formed a strategic alliance to enhance remote patients monitoring for at-risk patients from hospitals into the home.
In January 2021, Philips Healthcare sign 5 years technology, research, and innovative partnership to advance patients care.
In June 2021, Nihon Kohden Corporation launched NK network care service program to maximize network systems supporting its patients monitoring and neurology equipments.
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