New Zealand Neurology Devices Market Analysis Report [2022-30]

New Zealand Neurology Devices Market Analysis

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The New Zealand 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 market for neurology devices in New Zealand has grown as a result of the increase in neurological disorders such as multiple sclerosis, Alzheimer's disease, Parkinson's disease, epilepsy, and other disorders. The market is segmented by treatment, route of administration, age group, and by distribution channel. Some key players in this market include Medtronic, Boston Scientific, Natus Medical, Johnson and Johnson, and Nihon Kohden.

ID: IN10NZMD012 CATEGORY: Medical Devices GEOGRAPHY: New Zealand AUTHOR: Jigyasu Bhandari

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New Zealand Neurology Devices Market Executive Analysis

The New Zealand 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. Over the next four decades, it is expected that New Zealand's population would rise by approximately one-fifth, from 4.8 Mn in 2020 to 5.7 Mn in 2060. In 2020, there were expected to be 16.4% more people than 65 years old than there were in 1960 (8.6%). This is relatively near to both the average (17.0%) and the percentage recorded in Australia (16.2%) according to the Organisation for Economic Co-operation and Development (OECD). The proportion of people 65 and older will more than double to more than 25.9% of the population by 2060, while the proportion of people in the oldest age groups (80 and above) will more than triple.

New Zealand now has the highest mortality rate from motor neuron disease in the world, with 2.2 fatalities per 100,000 people, just ahead of Australia and the United Kingdom. One in four New Zealanders over 65 will experience a brain ailment by 2036, including Alzheimer's, Parkinson's, and stroke. Debilitating neurological deficits, loss of independence, and a major ongoing healthcare requirement are the results of these illnesses, which are now incurable. The most common kind of dementia is Alzheimer's Disease (AD). It is a progressive brain disease that over time impairs memory, thinking, and reasoning skills, ultimately limiting a person's ability to live freely. The majority of the time, older people experience it. A rough 10% of New Zealanders over 65 and over 25% of those over 85 are considered to have AD, according to estimates. Every week, two people in New Zealand pass away from motor neuron disease. One in 300 people is at risk of getting the disease, and the majority pass away within 15 to 20 months of being diagnosed.

Market Dynamics

Market Growth Drivers

The market for neurology devices in New Zealand has grown as a result of the increase in neurological disorders such as multiple sclerosis, Alzheimer's disease, Parkinson's disease, epilepsy, and other disorders. Estimates predict that as neurological ailments become more common, the market for neurology equipment will grow. The demand for non-invasive and minimally invasive neurology devices has been expanding significantly in New Zealand, which has been fueled by a number of causes including the increased prevalence of neurological illnesses, technological improvements, and these considerations.

Market Restraints

Neurology device regulations in New Zealand are restrictive, which might make it difficult for smaller businesses and start-ups to enter the market. The protracted and difficult regulatory process can also prevent the release of innovative products, which might restrict market expansion. Neurology devices may face competition from alternative therapies including physical therapy and pharmacological treatments for the treatment of neurological problems. This may restrict the uptake and application of neurology devices, which could impede market expansion.

Competitive Landscape

Key Players

Medtronic
Boston Scientific
Stryker
Johnson and Johnson
Natus Medical
Nihon Kohden

Notable Recent Deals

January 2022: A non-invasive ventilation technology has been acquired by the New Zealand-based Fisher & Paykel Healthcare from the German business B&D Electromedical. Patients with neurological diseases like ALS and Parkinson's disease who are experiencing respiratory distress can be treated with this device.

Healthcare Policies and Regulatory Landscape

For neurology devices, New Zealand has a well-established regulatory framework. The New Zealand Medicines and Medical Devices Safety Authority (Medsafe), the country's regulatory body, is in charge of regulating neurological devices there. Medsafe evaluates the efficacy and safety of neurology devices and grants approvals for those that adhere to its requirements. Medsafe also keeps an eye on the neurology devices' safety and responds if any problems are found. New Zealand’s healthcare policy is created by the government. For instance, the Ministry of Health is in charge of creating rules and regulations for the use of neurological equipment. To create rules that support patient safety and provide access to the right neurological technologies, the ministry collaborates closely with healthcare providers and patient organizations.

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.