APAC Neurology Devices Market Analysis Report 2022 to 2030

APAC Neurology Devices Market Analysis

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APAC Neurology Devices Market is expected to witness growth from $2.65 Bn in 2022 to $5.30 Bn in 2030 with a CAGR of 9.07% for the forecasted year 2022-2030. The APAC neurology devices market is anticipated to expand at the highest rates of all the continents due to its enormous patient base, which includes a sizable number of people suffering from neurovascular illnesses that harm the human brain. The demand for neurology devices in the APAC area is being driven by the region's aging population and the rising incidence of neurological disorders such as Alzheimer's disease, Parkinson's disease, and stroke. The market is segmented by product type and by the end user. Some key players in the market include Johnson and Johnson, GE Healthcare, Stryker, and Medtronic.

ID: IN10APMD012 CATEGORY: Medical Devices GEOGRAPHY: Asia - Pacific AUTHOR: Jigyasu Bhandari

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APAC Neurology Devices Market Executive Analysis

APAC Neurology Devices Market size is at around $2.65 Bn in 2022 and is projected to reach $5.30 Bn in 2030, exhibiting a CAGR of 9.07% during the forecast period. Prior to the COVID-19 pandemic, per capita, health spending in Asia-Pacific nations kept increasing. Per capita, health spending increased by 65% in low- and lower-middle-income Asia-Pacific nations, while it increased by 76% in higher-middle-income nations. High-income countries had seen growth, albeit more subduedly, at 33%. Despite this, there were still significant disparities in the amount of money spent on healthcare per person in Asia-Pacific nations in 2019, with Bangladesh spending only $105 and Australia spending $ 5294.The Alzheimer's Disease Foundation, Malaysia (ADFM) anticipates that in 2020, there will be between 204,000 and 264,000 people (8.5% to 11%) who have dementia. By 2050, this number is expected to climb by 312%, from 637,500 to 825,000. Additionally, the prevalence of dementia in India is expected to increase by 197% by 2050. During the forecast period, it is anticipated that the high prevalence of neurological illnesses in the area will increase the utility of neurology monitoring equipment.

The APAC neurology devices market is anticipated to be driven by the rising frequency of neurological disorders, technological developments, and rising demand for less invasive procedures. Vascular disorders of the brain and central nervous system are diagnosed and treated with the aid of interventional neurology devices. Angiography, fluoroscopy, endovascular procedures, and catheter-based techniques are all included in interventional neurology. One of the earliest primary in-vivo brain vascular imaging techniques, catheter angiography is used to diagnose a number of neurological diseases, including cerebral aneurysm, arteriovenous malformations, intracranial stenosis, arteriovenous fistula, and vasculitis. The structure and functioning of the brain are investigated using neurology devices to monitor and diagnose neurological diseases. To track and monitor brain processes during this procedure, many brain-monitoring technologies are used. These tools also assist in monitoring the electrical and neurological activity of the brain.

APAC Neurology Device Market Analysis

Market Dynamics

Market Growth Drivers

The APAC neurology devices market is anticipated to expand at the highest rates of all the continents due to its enormous patient base, which includes a sizable number of people suffering from neurovascular illnesses that harm the human brain. The APAC neurology devices market is predicted to be driven by easy access to modern technology, rising discretionary spending, and rising neurology device usage among neurosurgeons. High levels of young stress and an increase in brain injuries from traffic accidents are other factors that are anticipated to support market growth. The demand for neurology devices in the APAC area is being driven by the region's ageing population and the rising incidence of neurological disorders such as Alzheimer's disease, Parkinson's disease, and stroke. The expansion of the neurology devices market is being fuelled by investments being made by numerous APAC governments in healthcare initiatives, including the marketing and usage of medical equipment.

Market Restraints

Medical device regulations are strict in the APAC region, which can make it challenging for new businesses to enter the market and for established firms to introduce new products. In the APAC region, there are few reimbursement regulations for medical devices, making it challenging for patients to afford cutting-edge neurology devices.

Competitive Landscape

Key Players

Stryker
Medtronic
Johnson & Johnson
Penumbra
Natus Medical
GE Healthcare
Surtex Instruments

Recent Notable Deals

2022: In order to grow its neurology businesses in APAC, the Japanese neurology device manufacturer Terumo Corporation announced that it has successfully acquired Quirem Medical, a US-based company.

2020: Collaboration between Chinese healthcare technology business Yitu Healthcare and Japanese medical device maker Hitachi Healthcare in 2020. In order to increase the precision and effectiveness of diagnosis and therapy for neurological illnesses like dementia and stroke, the alliance sought to build AI-powered diagnostic imaging solutions.

Healthcare Policies and Regulatory Landscape

The Healthcare policies and regulatory landscape for neurology devices in the APAC region are expanding, with a focus on enhancing access to secure and efficient medical devices while handling the demands of cost and innovation. In APAC, the regulatory environment for neurology devices is characterized by a mix of stringent and relaxed rules. For instance, sophisticated nations like Japan and Australia have tight guidelines for the approval of medical devices, including those for neurology, to guarantee their efficacy and safety. On the other side, patients may have access to a broader variety of neurological devices in developing nations in the area because of less strict restrictions, but this could also result in the introduction of low-quality or harmful devices.

The APAC region has a wide range of reimbursement practices for neurology devices. Certain medical devices are reimbursable by the government in some nations, but patients must pay for them out of pocket in others. The uptake and application of neurological devices in a certain market can be significantly impacted by reimbursement policies.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Neurology Device Market Segmentation

The Neurology Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

Neurostimulation
?Spinal Cord Stimulation Devices
Deep Brain Stimulation Devices
Sacral Nerve Stimulation
Vagus Nerve Stimulation
Gastric Electric Stimulation
Interventional Neurology
- Aneurysm Coiling & Embolization
- Embolic Coils
- Flow Diversion Devices
- Liquid Embolic Agents
- Cerebral Balloon Angioplasty & Stenting
- Carotid Artery Stents
- Filter Devices
- Balloon Occlusion Devices
- Neurothrombectomy
- Clot Retriever
- Suction Aspiration Devices
- Snares
CSF Management
- CSF Shunts
- CSF Drainage
Neurosurgery Devices
- Ultrasonic Aspirators
- Stereotactic Systems
- Neuroendoscopes
- Aneurysm Clips

By End User (Revenue, USD Billion):

??Hospitals and Clinics
Specialty Centres
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.