Austria Neurology Devices Market Analysis Report 2022 to 2030

Austria Neurology Devices Market Analysis

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The Austria Neurology Device market size was valued at $50 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022 to 2030 and will reach $xx Mn in 2030. The neurology devices market in Austria is expanding as a result of factors such as an ageing population, technological improvements, and an increase in the frequency of neurological disorders. The market is segmented by product type and by the end user. Some key players in this market include medPhoton GmbH, Medtronic, Abbott Laboratories, and Nihon Kohden.

ID: IN10ATMD012 CATEGORY: Medical Devices GEOGRAPHY: Austria AUTHOR: Jigyasu Bhandari

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Austria Neurology Device Market Executive Analysis

The Austria Neurology Devices Market is at around $50 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. Healthcare spending in Austria reached $45.4 billion in 2017 (10.4% of GDP). 75% of the total is paid for by the public. When taken as a whole, Austrian healthcare spending has grown at an average annual rate of 4.9% during the past 20 years. In 2019, Austria's healthcare spending accounted for 10.4% of GDP, higher than The Organization for Economic Cooperation and Development (OECD) average of 8.8%.

Around 20,000 new occurrences of stroke are reported in Austria each year, making it one of the most prevalent neurological conditions there. The frequency of stroke is higher in males than in women, and the risk of stroke rises with age, according to the Austrian Stroke Unit Registry. There are an estimated 130,000 people living with dementia in Austria, making it a significant health concern. Dementia is more prevalent in women than in men, and its prevalence rises with age. Another prominent neurological disorder in Austria that affects about 25,000 people is Parkinson's disease. Parkinson's disease affects more people as they get older, and males are slightly more likely than women to develop it. Over 12,000 people in Austria have Multiple Sclerosis (MS), a chronic autoimmune illness of the central nervous system. Women are more likely than men to have MS, and those between the ages of 20 and 40 are typically diagnosed with the disease. An estimated 80,000 persons in Austria are thought to suffer from epilepsy, a neurological disorder marked by recurring seizures. Although the ailment can affect anyone at any age, it is typically identified in young children and elderly people.

Austria Neurology Device Market Analysis

Market Dynamics

Market Growth Drivers

Austria's neurology devices market is anticipated to expand in the years to come as a result of the rising incidence of neurological disorders, technological improvements, advantageous reimbursement policies, and an ageing population. In Austria, the incidence of neurological conditions such as stroke, dementia, Parkinson's disease, and multiple sclerosis is rising. As a result, there is an increase in demand for neurology devices. The market expansion in Austria is being driven by advancements in neurology devices. For instance, non-invasive and minimally invasive technology advancements are creating safer and more efficient treatment options. Similar to how robotics and artificial intelligence are being adopted, neurosurgery is becoming more precise and accurate. The need for neurology devices in Austria is being driven by the country's ageing population. Ageing raises the likelihood of developing neurological conditions including dementia and stroke. The need for neurology devices is consequently rising.

Market Restraints

The approval and marketing of neurology devices may be delayed in Austria because of the country's rigorous regulatory regulations. For startups and smaller businesses, this might be a considerable entry barrier. The Austrian government offers compensation for a number of medical treatments and devices, while coverage for specific neurological devices may be restricted. Due to this, it may be challenging for healthcare professionals to defend the acquisition and usage of these devices.

Competitive Landscape

Key Players

medPhoton GmbH (AT)
Leonhard Lang (AT)
Medtronic
Abbott Laboratories
Nihon Kohden
Boston Scientific

Notable Deals

2022: medPhoton and Brainlab maintained their close cooperation in the field of intraoperative imaging. Brainlab invested a deliberate investment in medPhoton, contributed to the development of Loop-X, and was appointed the device's sole distributor in the surgical area.

Healthcare Policies and Regulatory Landscape

The Austrian Federal Office for Safety in Healthcare (BASG) is the regulatory body in Austria in charge of overseeing neurological devices. Neurology device evaluation, approval, and oversight are the purview of the BASG. The social insurance concept serves as the foundation for the Austrian healthcare system, which mandates health insurance for all citizens. The healthcare system is heavily regulated and funded by the government, which has an effect on the accessibility and payment of neurological devices.

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.