Lebanon Neurology Devices Market Report 2022 to 2030

Lebanon Neurology Devices Market Analysis

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The Lebanon 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. The prevalence of neurodegenerative diseases like Alzheimer's and Parkinson's disease is rising in Lebanon as the population matures. The demand for Neurology devices, such as diagnostic instruments or brain stimulation devices, may increase as a result of the expanding patient population. The market is segmented by product type and by the end user. Some key players in this market include Johnson and Johnson, GE Healthcare, Stryker, Medtronic, Abbott Laboratories and Philips Healthcare.

ID: IN10LBMD012 CATEGORY: Medical Devices GEOGRAPHY: Lebanon AUTHOR: Jigyasu Bhandari

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Lebanon Neurology Devices Market Executive Analysis

The Lebanon 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. The cost of contemporary health care represented 8.80% of Lebanon's Gross Domestic Product (GDP) in 2020. Lebanon's GDP per individual is approximately $8,259. Health expenditures are roughly $662, and public health spending is approximately $345. Lebanon's health spending rose by 57% over the previous 15 years to $719 per person in 2017. Lebanon's health expenses as a share of GDP rank among the highest in the Arab world (8.80% in 2021).

Better patient outcomes can be achieved by using neurology devices to diagnose and manage neurological conditions more precisely. Numerous neurology devices are non-invasive, which means they don't need to be surgically implanted or involve other intrusive procedures. This lowers the possibility of complications and makes patient therapy safer. Numerous neurological disorders, such as epilepsy, Parkinson's disease, multiple sclerosis, Alzheimer's disease, and others are diagnosed using neurology devices. These diseases are diagnosed using tools like computed tomography scanners, magnetic resonance imaging machines, and electroencephalogram machines. Neurology device is used in a number of ways to address neurological conditions. For instance, vagus nerve stimulation devices are used to treat epilepsy and melancholy, while deep brain stimulation devices are used to treat Parkinson's disease and essential tremors. Neurology devices are also used to track the progression of neurological disorders. The neurological function is monitored and any alterations in neurological conditions are detected using equipment like nerve conduction studies, electroencephalography machines, and electromyography machines.

Market Dynamics

Market Growth Drivers

The prevalence of neurodegenerative diseases like Alzheimer's and Parkinson's disease is rising in Lebanon as the population matures. The demand for Neurology devices, such as diagnostic instruments or brain stimulation devices, may increase as a result of the expanding patient population. The demand for neurology devices in Lebanon may be fueled by new developments and inventive goods that enhance patient outcomes in terms of diagnosis, treatment, and outcomes. For instance, patients and healthcare professionals may find interest in the creation of minimally invasive procedures or wearable technology. Government policies in Lebanon that are advantageous, such as tax breaks or subsidies, may promote the creation and production of neurology devices there. Additionally, laws that support the effectiveness, safety, and high quality of neurology devices can foster market expansion and industry confidence.

Market Restraints

Recent economic and political unrest in Lebanon may have an impact on the desire for and cost neurology devices. Healthcare expenditure may decline as a result of instability, making it difficult for hospitals and clinics to make costly purchases of neurology devices. Neurology devices prices in Lebanon may rise as a result of import tariffs and taxes, making it more difficult for healthcare providers to buy them. High taxes and tariffs may make it more difficult for international companies to compete in the Lebanese market for neurology devices.

Competitive Landscape

Key Players

Philips Healthcare
Medtronic
Abbott Laboratories
Johnson & Johnson
Boston Scientific
Nihon Kohden
GE Healthcare
Stryker

Notable Recent Deals

October 2020: A Medical technology firm called LivaNova declared in 2020 that the first Vagus Nerve Stimulation (VNS) Therapy System implantation in Lebanon had been successfully completed. Epilepsy and melancholy that is resistant to therapy are both treated with the VNS Therapy System.

Healthcare Policies and Regulatory Landscape

The Lebanese Ministry of Public Health (MoPH) and the Lebanese Order of Physicians (LOP) oversee the regulatory framework for healthcare in Lebanon and the market for neurology devices. In Lebanon, the MoPH is in charge of establishing the rules and policies governing the use of neurology devices. Additionally, it is in charge of issuing licences for the importation, marketing, and retailing of neurology devices in Lebanon. The MoPH has published recommendations for the registration of neurology devices in Lebanon, including particular regulations pertaining to neurology devices. The requirements for the registration of neurology devices are outlined in the guidelines, including the requirement for clinical data and proof of safety and effectiveness. To further monitor the security of neurology devices in Lebanon, the MoPH created a medical device vigilance system. This method enables the reporting of unfavourable incidents and offers a way to monitor and address safety issues with regard to neurology 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.

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The market is segmented by product type and by end-user.

The Lebanon Neurology devices market is studied from 2022-2030.

Johnson and Johnson, GE Healthcare, Stryker, Medtronic, Abbott laboratories and Philips Healthcare are the major companies operating in Lebanon neurology devices market.