Thailand Neurology Devices Market Analysis Report 2022 to 2030

Thailand Neurology Devices Market Analysis

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Thailand's Neurology Devices Market size was valued at $xx Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022-30 and will reach $xx Bn in 2030. The increasing prevalence of neurological disorders in Thailand has a significant impact on the demand for neurology devices. The market is segmented by product type and by the end user. Some key players in this market include Medtronic, Johnson and Johnson, Siemens, GE Healthcare, Philips Healthcare, and Boston Scientific.

ID: IN10THMD012 CATEGORY: Medical Devices GEOGRAPHY: Thailand AUTHOR: Jigyasu Bhandari

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Thailand Neurology Devices Market Executive Analysis

Thailand's Neurology Devices Market 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. In Thailand, the total cost of healthcare is estimated to be $25.3 billion. By 2026, costs are anticipated to rise to $47.9 billion, representing a compound annual growth rate of 6.6% over the previous ten years. The cost of healthcare as a percentage of GDP is likewise high, at 6.6%. Due to the fast rise in demand for medical services and medications since Thailand's Universal Coverage Scheme was first implemented in 2002, the Thai government dedicates roughly 13.3% of its overall budget to public health care. The aging population of Thailand is another problem; by 2021, 20% of the country's people will be 60 or older. Thailand spent $296 per capita on healthcare in 2019. Thailand's health spending per capita increased from US$62 in 2000 to US$296 in 2019, expanding at an average annual rate of 8.83%.

In 2021, the incidence of stroke was 193 per 100,000 person-years, while the prevalence among people 45 and older was 1.9%. Parkinson's disease prevalence in Thailand is estimated to be around 83.8 per 100,000 people, whereas multiple sclerosis prevalence is estimated to be around 1.09 per 100,000 people, Accurate and prompt diagnosis of neurological illnesses, greater treatment outcomes, and superior patient care are all advantages of adopting neurology devices in Thailand. With the use of these tools, healthcare professionals can deliver more specialized and efficient therapies, lowering the overall toll that neurological illnesses have on sufferers as well as the healthcare system. In Thailand, neurology devices have a wide variety of uses, advantages, and applications. These tools are crucial for the detection and treatment of neurological illnesses, and they also significantly enhance the well-being and results of patients.

Market Dynamics

Market Growth Drivers

In Thailand, the elderly population is expanding, and this population is more likely to experience neurological diseases. This is boosting the market expansion for neurology devices. The increasing prevalence of neurological disorders in Thailand has a significant impact on the demand for neurology devices. Additionally, it is projected that the growing number of product launches and technological advancements in the field of pain management will increase demand for neurostimulation devices and promote market growth. In Thailand, the prevalence of neurological conditions such as multiple sclerosis, Parkinson's disease, epilepsy, and Alzheimer's disease is rising. Due to this, the need for neurology devices is rising.

Market Restraints

The market for neurology monitoring in Thailand is moderately competitive and home to many global and local companies. Due to the presence of virtually all significant worldwide companies in the neurology surveillance sector, the competition in the market has increased.

Competitive Landscape

Key Players

Medtronic
Siemens
Philips Healthcare
GE Healthcare
Boston Scientific
Stryker
Johnson and Johnson

Notable Recent Deals

January 2022: Global Health Solution, a Thai medical equipment distributor, and Ziehm Imaging, a German medical technology business, have partnered to offer Ziehm Imaging's line of neurology imaging devices.

May 2021: The US-based medical device manufacturer Natus Medical and the Thai company Synphaet Industries have a distribution arrangement for Natus Medical's neurology products in Thailand. EEG and EMG machines were among the items offered.

Healthcare Policies and Regulatory Landscape

Neurology devices are governed by a well-established healthcare policy and regulatory system in Thailand. The Medical Device Act of 2008 regulates the manufacturing, distribution, importation, and registration of neurology devices. The act stipulates that all medical devices must be registered with the Thai FDA before they can be sold in Thailand. The Medical Device Act must be upheld by the Thai FDA to maintain the security and efficiency of neurology devices there. Before any neurology devices are permitted for use in Thailand, the Thai FDA evaluates them for efficacy and safety.

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.