Market Size of Argentina Neurology Devices Industry
| 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.
