Argentina Neurology Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Argentina Neurology Devices Market Analysis
The Argentina neurology devices market is expected to grow with a CAGR of 4.8% during the forecasted period.
The COVID-19 pandemic significantly impacted neurology care in Argentina during the early phase, which in turn impacted the usage of neurology devices as well. For instance, according to an article published by Frontiers in September 2021, a study was conducted in Argentina, which showed that the number of emergency department visits and outpatient consultations to an Argentinian tertiary neurological center remained very low during the initial pandemic phase. Thus, the COVID-19 pandemic significantly impacted the market initially; however, as the pandemic has currently subsided, neurology care is going back to normal in Argentina; hence, the studied market is expected to have stable growth during the forecast period of the study.
The key factors propelling the growth of this market are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, and an increase in R&D in the field of neuro therapies.
The rising prevalence of neurological disorders such as Parkinson's disease, Alzheimer's disease, epilepsy, and brain diseases, among others, is the major factor driving the market growth. For instance, according to an article published by Frontiers in May 2022, Argentina is said to have a high prevalence of epilepsy and a study was conducted in the country which showed that the pooled prevalence rate of epilepsy was 5.3 per 1,000 for male patients and 7.1 per 1,000 for female patients.
Furthermore, according to the data updated by ClinicalTrials.gov in April 2023, there are currently 11 active clinical trials of dementia in Argentina. Thus, the rise in research and development in Argentina related to neurological disorders such as dementia is expected to boost market growth.
Thus, the aforementioned factors, such as the rising prevalence of neurological disorders and the increasing research and development activities, are expected to boost the market growth during the forecast period of the study. However, the high cost of equipment and stringent regulations and guidelines for new devices are expected to impede market growth.
Argentina Neurology Devices Market Trends
Sacral Nerve Stimulation Devices Segment is Expected to Have a Significant Market Share Over the Forecast Period
The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. It is performed with the help of a small device, which is capable of sending electrical impulses to the targeted sacral nerves located in the lower back region. These devices are found to be successful in treating bladder problems. Hence, with increasing incidences of overactive bladder and bowel incontinence, the sacral nerve stimulation devices segment is expected to grow during the forecast period.
According to an article published by PubMed Central in May 2022, a survey was conducted in various countries, including Argentina, where the majority of the respondents wanted to know about the current treatment options available for fecal incontinence. Thus, increasing awareness about fecal incontinence is expected to boost the usage of sacral nerve stimulation.
Furthermore, according to an article published by PubMed in January 2021, a study was conducted in Argentina, which showed that there is a high prevalence of stress urinary incontinence among Argentinian women. The article also stated that among the patients who were having stress urinary incontinence, the prevalence of uncomplicated stress urinary incontinence was 39%. Thus, the high burden of urinary incontinence in the country is expected to boost the adoption of sacral nerve stimulation devices. Moreover, the rising adult and geriatric population in the country is also expected to boost segment growth, as these diseases are mainly associated with these age groups.
Hence, the aforementioned factors, such as the rising prevalence of fecal incontinence and urinary incontinence and the rising adult and geriatric population, are expected to boost the segment growth during the forecast period of the study.
Deep Brain Stimulation Devices Segment is Expected to Have a Significant Growth Over the Forecast Period
Deep brain stimulation (DBS) is a neurosurgical technique that regulates neuron activity by using internal pulse generators to electrodes in specific target areas of the brain. These devices are used for the treatment of various neurological diseases such as dystonia, Alzheimer's disease, Parkinson's disease, and epilepsy, among others. Thus, the rising prevalence of such neurological disorders in Argentina and the rising geriatric population is expected to boost the segment growth.
For instance, according to an article published by Frontiers in January 2023, a study was conducted in Argentina, which showed that there is a normal decline in spatial memory related to aging in older people, and this is dramatically increased in neuropathological conditions such as Alzheimer's disease (AD). This indicates that the high burden of Alzheimer's Disease (AD) in the elderly population of the country is expected to create opportunities for market players to market deep brain stimulation devices in the country for the early screening and treatment of AD, thereby propelling the market growth.
Furthermore, according to the data updated by ClinicalTrials.gov in April 2023, there are currently 2 active clinical trials for epilepsy in Argentina. Thus, the rise in research and development in Argentina related to neurological disorders such as epilepsy is expected to boost the segment growth.
Hence, the aforementioned factors, such as the rising prevalence of dystonia and Parkinson's disease and the rising geriatric population, are expected to boost the segment growth during the forecast period of the study.
Argentina Neurology Devices Industry Overview
The Argentina neurology devices market is fragmented in nature. There are market participants involved in R&D for the development of advanced stimulation and neuromodulation techniques with minimally invasive procedures that are preferable to the patients. Furthermore, many private companies are showing great interest in developing novel neurological devices to earn huge profits. Some of the key market players are B. Braun SE, Medtronic PLC, Abbott Laboratories, Nihon Kohden Corporation, and Stryker Corporation, among others.
Argentina Neurology Devices Market Leaders
Stryker Corporation
Medtronic PLC
Abbott Laboratories
Nihon Kohden Corporation
B.Braun SE
*Disclaimer: Major Players sorted in no particular order
Argentina Neurology Devices Market News
- October 2022: An update was posted for a clinical trial for studying lateral cord magnetic stimulation for refractory spastic cerebral palsy in Argentina is expected to start in October 2023.
- April 2022: CereVasc, Inc. stated that the first patient had been treated in its clinical study of the eShunt System in patients with normal pressure hydrocephalus (NPH). A clinical trial was underway in Argentina to study minimally invasive treatment for NPH.
Argentina Neurology Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidence of Neurological Disorders
4.2.2 Huge Investments by Private Players in Neurology Devices
4.2.3 Increase in R&D in the Field of Neurotherapies
4.3 Market Restraints
4.3.1 High Cost of Equipment
4.3.2 Stringent Regulations and Guidelines for New Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Type of Device
5.1.1 Cerebrospinal Fluid Management Devices
5.1.2 Interventional Neurology Devices
5.1.2.1 Interventional/Surgical Simulators
5.1.2.2 Neurothrombectomy Devices
5.1.2.3 Carotid Artery Stents
5.1.2.4 Embolic Coils
5.1.2.5 Support Devices
5.1.3 Neurosurgery Devices
5.1.3.1 Neuroendoscopes
5.1.3.2 Stereotactic Systems
5.1.3.3 Aneurysm Clips
5.1.3.4 Other Neurosurgery Devices
5.1.4 Neurostimulation Devices
5.1.4.1 Spinal Cord Stimulation Devices
5.1.4.2 Deep Brain Stimulation Devices
5.1.4.3 Sacral Nerve Stimulation Devices
5.1.4.4 Other Neurostimulation Devices
5.1.5 Other Types of Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Stryker Corporation
6.1.3 Medtronic PLC
6.1.4 Abbott Laboratories
6.1.5 Johnson and Johnson
6.1.6 Nihon Kohden Corporation
6.1.7 Smith & Nephew
6.1.8 Elekta AB
6.1.9 Integra LifeSciences Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Argentina Neurology Devices Industry Segmentation
As per the scope of the report, neurological devices are medical devices that help to diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer's disease, Parkinson's disease, major depression, and traumatic brain injury. The Argentina Neurology Devices market is segmented by type of device (cerebrospinal fluid management device, interventional neurology device (interventional/surgical simulators, neuro thrombectomy devices, carotid artery stents, embolic coils, and support devices), neurosurgery device (neuro endoscopes, stereotactic systems, aneurysm clips, and other neurosurgery devices), neurostimulation device (spinal cord stimulation devices, deep brain stimulation devices, sacral nerve stimulation devices, and other neurostimulation devices), and other type of devices). The report offers the value (in USD) for the above segments.
| By Type of Device | |||||||
| Cerebrospinal Fluid Management Devices | |||||||
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| Other Types of Devices |
Argentina Neurology Devices Market Research FAQs
What is the current Argentina Neurology Devices Market size?
The Argentina Neurology Devices Market is projected to register a CAGR of 4.80% during the forecast period (2024-2029)
Who are the key players in Argentina Neurology Devices Market?
Stryker Corporation, Medtronic PLC, Abbott Laboratories, Nihon Kohden Corporation and B.Braun SE are the major companies operating in the Argentina Neurology Devices Market.
What years does this Argentina Neurology Devices Market cover?
The report covers the Argentina Neurology Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Argentina Neurology Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Argentina Neurology Devices Industry Report
Statistics for the 2024 Argentina Neurology Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Argentina Neurology Devices analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
