Australia Neurology Devices Market- Growth, Trends, and Forecasts (2020 – 2025)

The Australia Neurology Devices Market is segmented by Type of Device (Cerebrospinal Fluid Management Devices, Interventional Neurology Devices, Neurosurgery Devices, Neurostimulation Devices, and Other Types of Devices).

Market Snapshot

CAGR
Study Period: 2017-2025
Base Year: 2019
CAGR: 6.1 %

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Market Overview

The Australia Neurology Devices Market is expected to grow with a CAGR of 6.1% in the forecast period. The key factors propelling the growth of the market are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, and the rising aging population.

According to the Australian Bureau of Statistics, 2019, the proportion of the population aged 65 years and over increased from 12.3% to 15.9% over the 20 years. the increasing geriatric population has a heavy risk of developing neurological diseases like sleeping disorders, Parkinson's diseases, etc. therefore, the growing geriatric population boosts the market growth in the country.

However, the high cost of the devices and stringent regulations and guidelines for new devices is restraining market growth.

Scope of the report

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.

By Type of Device
Cerebrospinal Fluid Management Devices
Interventional Neurology Devices
Neurosurgery Devices
Neurostimulation Devices
Other Types of Devices

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Key Market Trends

Neurostimulation Devices is Expected to Grow Fastest during the Forecast Period

The fastest growth of the segment is due to the increasing usage of the sacral nerve stimulation devices and deep brain stimulation devices. The deep brain stimulation devices are generally used to treat neuropsychiatric disorders and are effectively used in treating various other neurological disorders, like Parkinson's disease, essential tremor, dystonia, chronic pain, major depression, and obsessive-compulsive disorder. 

According to PainAustrlia.org, 3.24 million Australians were living with chronic pain in 2018. 1.74 million were women and 1.50 million were men. The neurostimulation devices are majorly used for chronic neuropathic pain, that is not controlled by anticonvulsants and antidepressants. hence the large patient pool is a boosting factor for the segment growth.

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Competitive Landscape

The Australia Neurology Devices Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players are B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC, Abbott Laboratories, Johnson and Johnson, Smith & Nephew

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increase in Incidence of Neurological Disorders coupled with Rise in Geriatric Population

      2. 4.2.2 Increase in R&D in the Field of Neurotherapies

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Equipment and Stringent Regulations

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type of Device

      1. 5.1.1 Cerebrospinal Fluid Management Devices

      2. 5.1.2 Interventional Neurology Devices

      3. 5.1.3 Neurosurgery Devices

      4. 5.1.4 Neurostimulation Devices

      5. 5.1.5 Other Types of Devices

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 B. Braun Melsungen AG

      2. 6.1.2 Boston Scientific Corporation

      3. 6.1.3 Stryker Corporation

      4. 6.1.4 Medtronic PLC

      5. 6.1.5 Abbott Laboratories

      6. 6.1.6 Johnson and Johnson

      7. 6.1.7 Smith & Nephew PLC

      8. 6.1.8 Nihon Kohden Corporation

      9. 6.1.9 Penumbra Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Australia Neurology Devices Market market is studied from 2017 - 2025.

The Australia Neurology Devices Market is growing at a CAGR of 6.1% over the next 5 years.

B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC, Abbott Laboratories are the major companies operating in Australia Neurology Devices Market.

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