Russia Neurology Devices Market Analysis Report [2022-30]

Russia Neurology Devices Market Analysis

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The Russia Neurology Devices Market is expected to witness growth from $206 Mn in 2022 to $xx Bn in 2030 with a CAGR of xx% for the forecasted year 2022-2030. New technologies such as robotic exoskeletons, brain-computer interfaces, and minimally invasive surgical devices are propelling growth in Russia's neurology devices market. Various companies in Russia are investing in R&D, which is resulting in the development of innovative neurology devices that are driving the market growth. The market is segmented by product type and by the end user. The key players in Russia's neurology device market are Medtronic, Cadwell Industries, Boston Scientific, Natus Medical, Cadwell Industries, and Integra LifeSciences.

ID: IN10RUMD012 CATEGORY: Medical Devices GEOGRAPHY: Russia AUTHOR: Jigyasu Bhandari

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Russia Neurology Devices Market Executive Analysis

The Russia Neurology Devices Market size is at around $206 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. In Russia, healthcare costs accounted for about 5.3% of the GDP. An estimated 20% of this amount was spent on capital expenses, which included the building and remodeling of healthcare facilities and the acquisition of medical equipment. There are 80–100 instances of Multiple Sclerosis (MS) per 100,000 individuals in Russia.

According to estimates, there are 3-5 new occurrences for every 100,000 persons annually; there are 300–400 instances of Parkinson's disease per 100,000 persons in Russia. According to estimates, there are 12 to 20 new cases of Parkinson’s disease for every 100,000 persons each year, there are 5–10 instances of epilepsy per 1,000 individuals in Russia. According to estimates, there are between 50 and 70 new cases for every 100,000 persons annually, there are approximately 169 incidents of stroke for every 100,000 individuals in Russia each year. According to estimates, there are 600–700 cases of stroke for every 100,000 persons.

Neurology Devices are used to identify, treat, and keep track of illnesses and diseases that impact the neurological system. These tools are made to help medical experts assess the physical characteristics and electrical activity of the brain, spinal cord, and peripheral nerves. Neurology devices are used to identify and treat illnesses like Parkinson's disease, epilepsy, and chronic pain. The market for neurology devices in Russia is also fueled by the rise in the popularity of minimally invasive procedures and the creation of cutting-edge goods. In addition, there is a rising need for neurology equipment in academic and research settings for the investigation of the neurological system and associated diseases. Patients with illnesses like traumatic brain injury and stroke are monitored using neurology devices that track activity in the brain and nervous system. Neurology devices are used in research to better understand neurological issues and develop novel remedies.

russia neurology devices market analysis

Market Dynamics

Market Growth Drivers

In Russia, the prevalence of neurological disorders is rising as a result of a number of causes, including an aging population, poor lifestyles, and environmental pollution, which is a growing demand for neurology devices. New technologies such as robotic exoskeletons, brain-computer interfaces, and minimally invasive surgical devices are propelling growth in Russia's neurology devices market. Various companies in Russia are investing in R&D, which is resulting in the development of innovative neurology devices that are driving the market growth. The favorable regulatory environment in Russia encourages new market participants and enhances innovation in the neurology devices industry.

Market Restraints

There is a lack of general public awareness and understanding of neurological disorders, resulting in low demand for neurology devices. Medical device licensing processes are complicated and subject to stringent government regulations, which can delay the launch of new devices.

Competitive Landscape

Key Players

Stryker
Medtronic
Natus Medical
Cadwell Industries
Boston Scientific
Integra LifeSciences

Notable Recent Deals

2022: The acquisition of Neurosoft, a Russian manufacturer of medical equipment, by Nihon Kohden, a Japanese medical technology company, is one notable deal in the Russian market for neurology devices. EEG, EMG, and evoked potentials testing equipment, which are crucial diagnostic tools in neurology, are the area of expertise of Neurosoft. This acquisition expands Nihon Kohden's presence in Russia's neurology devices market.

Healthcare Policies and Regulatory Landscape

The Federal Service for Surveillance in Healthcare (FSSH) and the Ministry of Health of the Russian Federation oversee healthcare policy and regulatory landscape in Russia regarding neurology devices. Roszdravnadzor registration and approval are required for neurology devices before they may be marketed and sold in Russia. The approval procedure could be laborious and complicated. Some neurology devices used in the management of specific neurological illnesses are partially reimbursed by the Russian government. In Russia, intellectual property is protected by laws and rules. Manufacturers of neurology devices are required to abide by these rules in order to safeguard their innovation.

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.