Portugal Neurology Devices Market Analysis Report 2022 to 2030

Portugal Neurology Devices Market Analysis

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The Portugal Neurology Device Market is expected to witness growth from $38 Mn in 2022 to $xx Mn in 2030 with a CAGR of xx% for the forecasted year 2022-2030. The market is anticipated to expand as Portugal's demand for neurology devices increases. The need for neurology devices is being driven by a rise in the prevalence of neurological disorders such as epilepsy, Parkinson's disease, multiple sclerosis, and dementia in Portugal. The market is segmented by product type and by the end user. Major Key Players in Portugal's neurology devices market include Neurowave, BrainCare, Medtronic, Johnson and Johnson and Boston Scientific.

ID: IN10PTMD012 CATEGORY: Medical Devices GEOGRAPHY: Portugal AUTHOR: Jigyasu Bhandari

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Portugal Neurology Devices Market Executive Analysis

The Portugal neurology devices market size is at around $38 Mn in 2022 and is projected to reach $xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period. Current healthcare spending in Portugal increased by 12.65% in 2022, hitting 11.2% of GDP. The Gross Fixed Capital Formation (GFCF) of public providers increased by 32.6% in 2020, while the GFCF of the entire economy decreased by 1.6%. In 2020, household spending fell by 6.0% as a result of budget cuts to the major private providers: hospitals (-8.8%), ambulatory health care providers (-11.5%), and other sales of medical supplies (-3.2%).

In Portugal, neurological conditions were the cause of 12.2% of all fatalities in 2019. A Portuguese Alzheimer's Association claims that 200,000 Portuguese citizens already have dementia, and that figure is anticipated to treble by the year 2050. The most typical cause of dementia, Alzheimer's disease is more prevalent as people get older. Parkinson's disease is a degenerative neurological condition that impairs movement; it affects 103.9 instances per 100,000 people in Portugal, The central nervous system is impacted by the chronic autoimmune disease known as multiple sclerosis there are 51.2 occurrences of multiple sclerosis per 100,000 people in Portugal. Neurology devices are useful in Portugal for the diagnosis, management, and therapy of neurological ailments and are essential tools for healthcare workers and researchers. Neurological disorders are diagnosed using instruments that measure electrical activity in the brain and nerves, such as electromyography and electroencephalography devices. Deep Brain Stimulation (DBS) devices are used to treat Parkinson's disease and epilepsy.

Portugal Neurology Device Market Analysis

Market Dynamics

Market Growth Drivers

The market is anticipated to expand as Portugal's demand for neurology devices increases. The need for neurology devices is being driven by a rise in the prevalence of neurological disorders such as epilepsy, Parkinson's disease, multiple sclerosis, and dementia in Portugal. As a result, the market for neurology devices is offering manufacturers significant potential. Neurology devices are less painful, have fewer complications, and necessitate shorter hospital stays, the demand for non-invasive and minimally invasive neurology devices is rising in Portugal. The need for less invasive, more patient-friendly technologies is pushing manufacturers to create them. The market for neurology devices in Portugal is expanding as a result of the country's ageing population, as neurological problems are more common in the elderly. As a result, there is already a substantial market for neurology devices, which is predicted to increase over the next few years.

Market Restraints

The restrictive Portuguese regulatory framework for neurology devices can be a barrier to manufacturers. The lengthy approval procedure may cause new product introductions to be severely delayed, which may be detrimental to market competitors.

Competitive Landscape

Key Players

Neurowave (PT)
Esaote (PT)
BrainCare (PT)
Medtronic
Boston Scientific
GE Healthcare
Johnson and Johnson

Notable Recent Deals

2021: Johnson & Johnson purchased the remaining stock in Acclarent, a Portuguese manufacturer of medical devices with a focus on market expansion.

Healthcare Policies and Regulatory Landscape

The Portuguese regulatory body in charge of policing and regulating Neurology devices is called INFARMED. In Portugal, INFORMED is in charge of approving and overseeing the use of neurological devices. The agency monitors neurological devices both before and after they are put on the market, examines clinical data, and judges their efficacy and safety. Portugal's manufacturing, distribution, and sales of neurological devices are regulated by the Medical Devices Law. The law specifies the regulatory standards for neurological equipment as well as the obligations of distributors, importers, and producers.

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.