Kuwait Neurology Devices Market Analysis Report 2022 to 2030

Kuwait Neurology Devices Market Analysis

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The Kuwait Neurology Devices 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 market for neurology devices in Kuwait is growing as a result of an ageing population, rising demand for minimally invasive procedures, and rising prevalence of neurovascular disorders. The market is segmented by product type and by the end user. Some key players in this market include Al-Hokail Medical, Medtronic, Johnson and Johnson, Boston Scientific, Stryker and GE Healthcare.

ID: IN10KWMD012 CATEGORY: Medical Devices GEOGRAPHY: Kuwait AUTHOR: Jigyasu Bhandari

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Kuwait Neurology Devices Market Executive Analysis

The Kuwait 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. Kuwait spent $1,765 on healthcare in 2021, a 1.64% increase from 2020. The enormous $8.9 Billion in healthcare spending budgeted for Kuwait in 2021–2022. Kuwait's out-of-pocket spending as a percentage of current health spending in 2020 was 11.9%. Out-of-pocket spending decreased significantly from 25.5% in 2000 to 11.9% in 2020 as a percentage of Kuwait's current health expenditures. Kuwait completed 13 public healthcare projects worth $4.6 billion from 2017 to 2022. Nine more public sector projects totalling $5.3 billion are in the execution stage. Four more projects are in the design stage, while three projects worth $1.5 billion and $3.8 billion each are in the study stage. The $1.1 billion Sheikh Jaber Al-Ahmed Al-Sabah Hospital for neurology, which opened in 2020 as a COVID-19 emergency facility, and the $1.1 billion New Jahra neurology centres are two examples of recent public sector projects that have been completed.

In Kuwait, neurology devices are important for the diagnosis, treatment, and management of neurological disorders and are essential equipment for doctors and researchers. In neurology, neurological disorders are diagnosed using instruments that measure electrical activity in the brain and nerves, such as electromyography and electroencephalography equipment. Deep Brain Stimulation (DBS) devices are used to treat Parkinson's disease and epilepsy, for example, and other neurological conditions. Neurology gadgets used for neurological disorder rehabilitation include neuroprosthetics for individuals with paralysis or amputations.

Kuwait Neurology Device Market Analysis

Market Dynamics

Market Growth Drivers

The market for neurology devices in Kuwait is growing as a result of an ageing population, rising demand for minimally invasive procedures, and rising prevalence of neurovascular disorders. The rising incidence of neurological ailments like epilepsy, Alzheimer's disease, and Parkinson's disease is fueling Kuwait's demand for neurology devices. Modern neurological devices that are more precise, efficient, and safe are what drives the demand for neurology devices in Kuwait. The Kuwaiti government is investing more money in the infrastructure of the medical industry, which includes neurology devices, in order to improve healthcare services and outcomes. The development of sophisticated neurology devices that are more effective, accurate, and user-friendly as a result of technological advancements is contributing to the neurology devices market's continued expansion in Kuwait.

Market Restraints

Kuwait's neurology devices market is extremely competitive, with a number of well-established players already present. Because of this, it might be challenging for new competitors to gain traction and market share. The procedure of receiving regulatory approval for neurology devices can be drawn out and difficult. It can be quite difficult for manufacturers in Kuwait to adhere to the rules and requirements imposed by the Kuwaiti Ministry of Health.

Competitive Landscape

Key Players

Al-Hokail Medical (KW)
Al-Shifa Medical (KW)
Medtronic
Boston Scientific
Stryker
Johnson and Johnson
Penumbra

Notable Deals

2020: To supply cutting-edge neurology equipment to Kuwaiti neurology centres, GE Healthcare and the Kuwait Ministry of Health entered into a contract. This contract improves its position in the Kuwait neurology devices market.

Healthcare Policies and Regulatory Landscape

The usage, sale, and import of neurology devices in Kuwait are governed by the Kuwaiti Ministry of Health. Before selling or distributing their device on the market in Kuwait, manufacturers and suppliers of neurological devices are required to register their devices with the Kuwaiti Ministry of Health and receive the required permits. Importers must get the required approvals and adhere to the appropriate regulations in order to import neurology devices into Kuwait, which is subject to import regulations.

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.