China's Neurology Device Market size is at around $1.01 Bn in 2022 and is projected to reach $2.07 Bn in 2030, exhibiting a CAGR of 9.3% during the forecast period (2022-2030). China is a leading manufacturer and simultaneous consumer of neuro devices attributed to its dominance in research and manufacturing excellence by major players like Mindray Medical International, Medtronic, JinkoSolar Holding, and Lepu Medical Technology. This report by Insights10 is segmented by product type like neurostimulation, interventional neurology, neurosurgery devices, and neuro-endoscopes, and by the end user.
The use of neurological devices such as Brain-Computer Interfaces (BCI) and deep brain stimulation devices is increasing in China. The Chinese government has been investing in the development and production of these devices, and there are several domestic companies producing and selling them. The healthcare system in China is also rapidly improving, which has created a growing market for these devices. However, there is a need for more regulation and standardization in the industry to ensure the safety and effectiveness of these devices. Products for cranial stabilization, tissue ablation, Cerebo-Spinal Fluid (CSF) management, neuro-critical care, duraplasty, and electrosurgery have become the forefront for neurology devices in China due to striving for clinical excellence and advanced quality care to individuals in China and increasing global demand.
Environmental factors such as pollution, lack of physical activity, and unhealthy diets contribute to the high prevalence of neurological disorders in China. The rapid pace of urbanization and changes in lifestyle have resulted in higher rates of stress, lack of sleep, and other factors that can increase the risk of neurological disorders. Many neurological disorders are underdiagnosed and undertreated in China due to a lack of awareness, resources, and access to healthcare. The incidence of stroke in China is increasing due to factors such as high blood pressure, diabetes, and unhealthy lifestyle.
China exports neurological devices to several countries globally, including - many countries in Asia, including India, Southeast Asian countries, and South Korea, import neurological devices from China. China exports neurological devices to several countries in Europe, including Germany, the United Kingdom, and France. China also exports these devices to countries in South America, including Brazil and Argentina. The United States and Canada also import neurological devices from China. China is a major producer of medical devices, including neurological devices, and exports a significant portion of its production to other countries. The demand for these devices is growing globally, and China is well-positioned to meet this demand with its competitive prices and growing manufacturing capabilities. The devices are widely used in China, and the demand for these devices is driven by the increasing prevalence of neurological disorders, the improving healthcare system in China, and the growing middle class, which is more aware of their health and willing to invest in medical devices like-
Market Growth Drivers
The need for neurological devices in China is driven by several factors such as the population in China ages, and there is an increasing need for devices that can help manage age-related neurological conditions such as Parkinson's disease and Alzheimer's disease. There is a high prevalence of neurological disorders such as stroke, brain injury, and spinal cord injury in China, and these devices can help treat and manage these conditions. The Chinese government is investing heavily in improving the country's healthcare system, which has created a growing market for these devices. Advances in technology have made it possible to develop more effective and sophisticated neurological devices, which are in high demand in China. The growing middle class in China is more aware of their health and willing to invest in new and innovative medical devices, including neurological devices.
Market Restraints
The regulatory environment for medical devices in China is still developing, and there is a need for clearer and more consistent regulations to ensure the safety and efficacy of these devices due to stringent policies, the roll-out of neuro devices is a time-consuming and costly endeavor that pours onto the cost of treatment borne by the patients as well. The cost of these devices can be high, and many patients may not be able to afford them without adequate insurance coverage. Reimbursement policies for medical devices, including neurological devices, can be inconsistent and may limit their availability and affordability to patients. There is still a lack of awareness among the general public and healthcare professionals about the benefits and potential applications of neurological devices, which can limit their adoption and use, due to limited training access by neurologists the expansion of utilization of neurology devices is limited. Access to specialized care for neurological conditions is limited in many parts of China, and this can limit the availability and use of these devices.
Key Players
The regulatory body for medical devices in China is the National Medical Products Administration (NMPA). The NMPA, China's medical device regulatory organization, evaluates the safety, efficacy, and quality of medical devices before they are permitted for sale in China and establishes standards and rules for medical devices. It also inspects and monitors medical device manufacturing facilities, responds to adverse events and product recalls related to medical devices, provides information and guidance to industry and healthcare professionals, collaborates with international regulatory agencies to ensure that Chinese and international standards are aligned, and regulates medical device labeling, advertising, and promotion.
Reimbursement for medical devices, including neurological devices, in China, is a complex issue and can vary depending on the specific device, the patient's condition, and the region. In general, reimbursement for medical devices in China is still limited and inconsistent, and patients are often required to pay for these devices out of pocket. However, the reimbursement situation is gradually improving, and the Chinese government is taking steps to increase access to medical devices for patients. The National Reimbursement Drug List (NRDL) and the Essential Drug List (EDL) include some medical devices, including some neurological devices, and these devices are eligible for reimbursement through the public healthcare system. However, the reimbursement coverage can vary widely depending on the specific device and the patient's condition, and patients may still face significant out-of-pocket expenses. Private insurance and out-of-pocket payments are also important sources of funding for medical devices in China, but they are still limited, particularly in rural areas and for people with lower incomes.
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
The Neurology Device Market is segmented as mentioned below:
By Product Type (Revenue, USD Billion):
By End User (Revenue, USD Billion):
Methodology for Database Creation
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