Ireland Neurology Devices Market Analysis Report 2022 to 2030

Ireland Neurology Devices Market Analysis

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The Ireland Neurology Device Market is expected to witness growth from $xx Bn in 2022 to $xx Bn in 2030 with a CAGR of xx% for the forecasted year 2022-2030. In Ireland, the prevalence of neurological diseases like epilepsy, Parkinson's disease, and Alzheimer's disease is rising, which is fueling demand for neurology devices. The market is segmented by product type and by the end user. Major Key players in Malaysia's neurology devices market include GA Health, Medtronic, Abbott Laboratories, Boston Scientific, and Nihon Kohden.

ID: IN10IEMD012 CATEGORY: Medical Devices GEOGRAPHY: Ireland AUTHOR: Jigyasu Bhandari

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Ireland Neurology Devices Market Executive Analysis

The Ireland Neurology Devices Market size is at around $xx Bn in 2022 and is projected to reach $xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period. Ireland's total health spending as a percentage of GDP was at 7.2% in 2020, up just 6.7% from the previous year but still much below the 9.9% European Union (EU) average. Ireland's health spending has grown somewhat recently; it is currently around one-fifth more than the EU average. In 2018, 17% of adults in Ireland, down from 27% in 2002, smoked tobacco every day, which is currently slightly lower than the EU average. In 2014, nearly one-third of adults reported regularly consuming large amounts of alcohol. From 15% in 2007 to 18% in 2015, the obesity rate grew and is currently higher than the EU average. In Ireland, public funding makes up 73% of all health spending, which is less than the EU average (79%). The remaining portion is covered directly by households (12%) or by voluntary health insurance (13%), which is far more common than in most other EU nations.

In Ireland, there are about 10,000 new stroke cases reported annually, 37,000 persons with epilepsy, and every year, approximately 1,200 new cases are thought to be diagnosed, 8,000 or more people who have Parkinson's disease. In terms of neurological research, Ireland does incredibly well. Ireland is home to a number of highly regarded researchers who specialize in neurology and psychiatry. Science promotion in Ireland has benefited greatly from the backing of organizations like the Health Research Board (HRB), Science Foundation Ireland (SFI), and the Irish Research Council (IRC). Neurology devices are also used in the development and research of new medicines and treatments for neurological illnesses. to research if non-invasive brain stimulation can be used to treat a range of neurological conditions.

Market Dynamics

Market Growth Drivers

In Ireland, the prevalence of neurological diseases like epilepsy, Parkinson's disease, and Alzheimer's disease is rising, which is fueling demand for neurology equipment. The expansion of the neurology devices market in Ireland is being aided by the development of novel and cutting-edge equipment for neurology, including brain monitoring devices, minimally invasive surgical tools, and neurostimulation devices. Ireland has an ageing population, and neurological problems are more likely to occur as people get older. The need for neurology devices in the nation is being driven by this demographic trend.

Market Restraints

Ireland has strict regulations that manufacturers must follow in order to maintain the security and efficiency of their products on the market for neurology equipment. Regulation compliance can be time-consuming and expensive, which may prevent new companies from entering the market and limit the expansion of current manufacturers. The adoption of neurological devices may be impacted by the availability and sufficiency of reimbursement programs. Access to neurology devices might be hampered by poor or limited reimbursement rules, which can also restrain market expansion. Neurology devices may have a good replacement for other therapies like physical therapy or medication. The accessibility and acceptance of complementary therapies may restrict the market share of neurology devices and have an impact on market expansion.

Competitive Landscape

Key Players

GA Health (IE)
Tcoag (IE)
Abbott Laboratories
Nihon Kohden
Medtronic
Boston Scientific

Notable Recent Deals

2021: A supplier of laser- and energy-based medical devices, Lumenis Surgery was acquired by Boston Scientific Corporation. It is anticipated that the acquisition will improve Boston Scientific's product offerings in the neurology market.

Healthcare Policies and Regulatory Landscape

The Health Products Regulatory Authority (HPRA), which is in charge of regulating medical devices in Ireland, keeps a close watch on the regulatory environment. The European Medical Devices Regulation (MDR) is a new legal framework with the goal of enhancing the performance and safety of medical devices. It went into effect in May 2021. The MDR applies to all neurological equipment sold in Ireland. The ISO 13485 quality management standard, which outlines the specifications for a quality management system for medical devices, must be followed by manufacturers of neurology devices in Ireland.

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.