Indian Neurology Devices Market Analysis


  • Type: Therapeutics Area
  • Published : April 2021
  • Region: Asia
  • Country: India
  • Report ID : 1204

  • Format: PPT, PDF

Indian Neurology Devices Market: Segmented by Device Type (Cerebrospinal Fluid Management Devices, Interventional Neurology Devices, Neurosurgery Devices, Neurostimulation Devices, Other Types of Devices) and by End User (Hospitals, Neurology Clinics, Ambulatory Care Centres) Growth, Trends, and Forecasts (2019 – 2028)

SKU: 1204 Categories: ,

Report Overview

The Indian 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 7.1% during the forecast period.

The increasing healthcare spending, increasing investment by medical device manufacturers, and increasing neurological disease prevalence is expected to drive the overall Neurology devices market growth in India. It is estimated that 30 million Indians suffer from serious neurological disorders a year. The most common include epilepsy at 6-8 million people, strokes at 1-2 million people and headaches at 10-12 million people. Market growth will be driven by increased aging population and improvements in neurological device technology. Increasing rate of neurological disorders prevalence with around 10 million people with epilepsy and high fatality rates of stroke has given rise to product demand.

Market Drivers

The key factors propelling the growth of the Neurology device market in India are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, an increase in R&D in the field of Neurotherapy, and the rising aging population. Another factor is increase in geriatric population will increase the probability of more old people suffering from neurological disorders, resulting in demand for various neurological devices. Growing awareness among people and government initiatives such as National Epilepsy Control Program and established stroke units at different levels of health care pyramid will induce rapid growth over the forecast period.

Major Neurological Diseases with Prevalence

The major neurological diseases in India 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. A total of 260 (out of 10,000 studied) individuals were found positive for neurological disorders yielding a crude prevalence of 2.6%. The crude prevalence for rural areas was found to be 2.28% (206/9000), whereas the crude prevalence in urban area was found to be 5.4% (54/1000). Migraine was the most common disorder.

1. Indian Neurology Devices Market Overview…………………………………………..
A. Market Size
2. Market Growth Drivers……………………………………………………..……………
A. Increase in Incidence of Neurological Disorders
B. Increase in R&D in the Field of Neurotherapies
C. Rise in the Aging Population
3. Indian Neurology Disease Market by Prevalence…………………….…………
A. Stroke
B. Brain Injury.
C. Epilepsy.
D. Spinal CordIinjury.
E. Alzheimer’s disease or Other Dementias.
4. Indian Neurology Device Market Segmentation……………………………………….
A. By Device Type
I. Cerebrospinal Fluid Management Devices
II. Interventional Neurology Devices
III. Neurosurgery Devices
IV. Neurostimulation Devices
V. Neurorehabilitation Devices
VI. Other Type of Devices
B. By End User
I. Hospitals
II. Neurology Clinics
III. Ambulatory Care Centres
5. Neurology Devices Major Market Share…………….………………………………
A. Market Analysis, Insights and Forecast by Revenue
6. Competitive Landscape………………………………………………………….……..
A. Major Players
B. Merger and Acquisitions
7. Key Company Profiles…………………………………………………………………….
A. Medtronic plc AG Company overview, Product & Services, Strategies & Financials
B. Boston Scientific Corporation Company overview, Product & Services, Strategies & Financials
C. Stryker Corporation, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape…………………………..……
A. Policy changes and Regulatory Guidelines
9. Factors Driving Future Growth………………………………………………………
A. Key Industry Developments
B. Future Opportunities
10. Conclusion

Market Segmentation

By Device Type:

Based on device type, the market is segmented into cerebrospinal fluid management devices, interventional neurology devices, neurosurgery devices, neurosurgery devices, neurostimulation devices, Neurorehabilitation Devices and other types of devices. Neurostimulation devices is expected to show good growth over the forecast period. Neurostimulation devices are implantable, programmable medical devices that deliver electrical stimulation to a specific part of the patient’s brain, spinal cord or peripheral nervous system to help treat various conditions, including chronic pain, movement disorders, epilepsy, and Parkinson’s disease.

By End User:

On the Basis of end user market is segmented into Hospitals, Neurology Clinics, Ambulatory Care Centres. Out of all these, hospital segment has maximum share in India, and is anticipated to continue this during the forecast period. This is attributed to the easy availability of neurological devices in hospital settings and preference among patients to visit hospitals for diagnosis and treatment of neurological devices

Major Players

In India, the geriatric population is rising. As a result, the incidence of neurological disorders is also expected to rise in India. With the increasing demand for neurology devices has in-turn helped market growth of neurology devices market.  Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Johnson and Johnson, Medtronic PLC, MicroPort Scientific Corporation, Nihon Kohden Corporation, Smith & Nephew, Stryker Corporation are major players in Neurology Device Market in India.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

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The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

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