The Canada neurology devices market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 7.5% during the forecast period.
Neurological devices are medical devices that help to diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer’s disease, Parkinson’s disease, major depression, and traumatic brain injury. In Canada the burden of neurological disease is expected to increase as the population ages, Therefore, the increasing geriatric population in the country is boosting the market growth. The National Population Health Study of Neurological Conditions (NPHSNC) is also aiming to improve knowledge about neurological conditions and their impacts on individuals, their families, caregivers, and the health care system.
Neurological conditions are among the leading causes of disability in the Canadian population and are associated with a large public health burden. The key factors propelling the growth of the market are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, an increase in R&D in the field of neuro therapies, and the rise in the aging population. The increasing incidence of neurological disorders is increasing foreign direct investment by global medical device manufacturers is boosting the market growth.
Major Neurological Diseases with Prevalence
The major neurological diseases in Canada are stroke, Brain injury, epilepsy, spinal cord injury, Alzheimer’s disease or other dementias, multiple sclerosis, Parkinson’s disease. Of these, people suffering from the effects of strokes are more in number compared to any other disease, it is followed by Brain injury and spinal cord injury.