Romania Neurology Devices Market Analysis Report 2022 to 2030

Romania Neurology Devices Market Analysis

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The Romania Neurology Device Market is expected to witness growth from $37 Mn in 2022 to $xx Mn in 2030 with a CAGR of xx% for the forecasted year 2022-2030. In Romania, the demand for neurology devices is being driven by the increase in neurological ailments like stroke, epilepsy, and Alzheimer's disease. Technology developments have resulted in the creation of novel and inventive neurology devices The market is segmented by product type and by end user. Some key players in this market include Stryker, Medtronic, Abbott Laboratories, Elekta, Boston Scientific, Nihon Kohden, and LivaNova.

ID: IN10ROMD012 CATEGORY: Medical Devices GEOGRAPHY: Romania AUTHOR: Jigyasu Bhandari

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Romania Neurology Devices Market Executive Analysis

The Romania Neurology Devices Market size is at around $37 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. By importing $358 Mn in medical equipment in 2020, Romania became to the 48th-largest medical instrument importer in the world. In terms of imports, medical equipment ranked 52nd in Romania that year. Romania imports the majority of its medical equipment from Germany ($104 Mn), the Netherlands ($58.9 Mn), China ($37.5 Mn), Austria ($16.5 Mn), and Italy ($16.3 Mn). With an estimated value of $9.71 Mn, imports from the United States account for 2.71% of all imports. The Netherlands ($9.18M), Austria ($5.78M), and China ($10.3M) saw the largest increases in Romania's imports of medical devices between 2019 and 2020. Romanian pharmaceutical sales in 2021 reached $4.4 Bn, or $232.6 per person, or 1.6% of GDP and 26.7% of health expenditures.

With a population of over 19 million, 17.8% of whom are over 65, Romania is a middle-income, previously socialist nation in Eastern Europe. There are around 72,000 patients with Parkinson's disease in Romania, according to the patient's group, a non-governmental organisation. The National Health Insurance House's prescription drug data for Parkinson's disease provide the basis for this estimate. Nevertheless, some people with Parkinsonian symptoms may benefit from Parkinson's disease medication; as a result, this report's estimate of the country's Parkinson's disease sufferers is probably too high. Furthermore, a thorough analysis of data on Parkinson's disease from around the world, in specific regions, and in individual nations revealed that Romania.

Neurology devices including robotic exoskeletons and virtual reality systems are utilised in the rehabilitation of patients with neurological illnesses like stroke and spinal cord injuries. Neurology devices are used to treat neurological illnesses such as chronic pain, movement disorders, and spasticity. These devices include neurostimulation devices, deep brain stimulation devices, and intrathecal pumps. The study and creation of novel treatments for neurological problems require neurology devices including magnetoencephalography and transcranial magnetic stimulation machines.

Romania Neurology Device Market Analysis

Market Dynamics

Market Growth Drivers

In Romania, the demand for neurology devices is being driven by the increase in neurological ailments like stroke, epilepsy, and Alzheimer's disease. Technology developments have resulted in the creation of novel and inventive neurology devices that are more efficient in treating neurological illnesses and enhancing patient outcomes, such as robotic exoskeletons and neurostimulation devices. and the demand for neurology devices that enable minimally invasive operations is being driven by patients who are increasingly looking for less invasive and more effective treatment alternatives for neurological illnesses.

Market Restraints

In Romania, Alternative therapies, including conventional medicine or non-invasive techniques, could put neurology devices in competition on the Romanian market. Romania's regulatory framework can be onerous, which may cause delays in the clearance of novel neurology devices. Additionally, this may raise the price of introducing new devices to the market.

Competitive Landscape

Key Players

Stryker
Medtronic
Abbott Laboratories
Elekta
LivaNova
Boston Scientific
Nihon Kohden

Healthcare Policies and Regulatory Landscape

Medical devices including Neurology devices and other healthcare items in Romania are subject to regulation and oversight by the National Agency for Medicines and Medical Devices (ANMDM). The National Health Insurance House is responsible for regulating payments for neurology devices and other healthcare services in Romania. Before being marketed and sold in Romania, all medical devices require ANMDM approval. This comprises neurology equipment, which, based on their classification, is subject to particular rules and specifications. To assure the continued safety and efficacy of medical devices, particularly neurology devices, the National Agency for Medicines and Medical Devices (ANMDM) undertakes post-market surveillance. Regulations set forth by the European Union (EU) and Good Clinical Practise (GCP) standards must be followed in Romania when conducting clinical trials for 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.