Brazil Neurology Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Brazil Neurology Devices Market Analysis
The Brazil Neurology Devices Market is expected to grow with a CAGR of 4.7% during the forecasted period. The key factors propelling the growth of this market are increase in incidence of neurological disorders,huge investments by private players in neurology devices and increase in R&D in the field of neurotherapies.
According to the World Population Ageing 2019 report, in Brazil population aged 65 years or over in 2019 was 19.526 million (9.3%) and this number is projected to reach to 30.413 million (13.6%) in 2030. As the number of elderly population is expected to grow in coming years and elderly population are more prone to neurological disorders such as Parkinsons disease and Alzheimer's disease which drives the market in future.
Thus, owing to above factors the market is expected to show significant growth over the forecast period.
Brazil Neurology Devices Market Trends
This section covers the major market trends shaping the Brazil Neurology Devices Market according to our research experts:
Sacral Nerve Stimulation Devices is the Segment under Neurostimulation Devices that is Expected to Grow Fastest during 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, the sacral nerve stimulation devices segment is expected to grow during the forecast period.
Sacral nerve stimulation devices are an effective and safe treatment for patients suffering from fecal and urinary dysfunction. Increasing demand for the minimal invasive therapy, rising prevalence of urinary bladder diseases, and technological advancements such as introduction of novel coatings and engineering strategies are the main factors driving the growth of the market.
As per Ministério da Saúde Brazil and Conselho Federal de Medicina 2018 survey report, estimated that in 2017, the Brazilian government's expenditure spend on healthcare was around 1.27 thousand Brazilian reals per person, up from 1.24 thousand reals in 2016. This indicates support from Brazilian government's regarding people's health will boost the segment in coming years.
Thus, owing to above factors the segment is expected to show significant growth over the forecast period.
Brazil Neurology Devices Industry Overview
The Brazil Neurology Devices Market is fragmented competitive. There are market participants involved in R&D for the development of advanced stimulation and neuromodulation techniques with minimally invasive procedures that are more preferable to the patients. Furthermore, many private companies are showing great interest in developing novel neurological devices to earn huge profits. In the coming years few other players are expected to enter into the market.
Brazil Neurology Devices Market Leaders
B. Braun Melsungen AG
Boston Scientific Corporation
Stryker Corporation
Medtronic PLC
Abbott Laboratories
*Disclaimer: Major Players sorted in no particular order
Brazil Neurology Devices Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increase in Incidence of Neurological Disorders
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4.2.2 Huge Investments by Private Players in Neurology Devices
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4.2.3 Increase in R&D in the Field of Neurotherapies
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4.3 Market Restraints
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4.3.1 High Cost of Equipment
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4.3.2 Stringent FDA Validation and Guidelines for New Devices
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type of Device
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5.1.1 Cerebrospinal Fluid Management Devices
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5.1.2 Interventional Neurology Devices
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5.1.2.1 Interventional/Surgical Simulators
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5.1.2.2 Neurothrombectomy Devices
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5.1.2.3 Carotid Artery Stents
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5.1.2.4 Embolic Coils
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5.1.2.5 Support Devices
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5.1.3 Neurosurgery Devices
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5.1.3.1 Neuroendoscopes
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5.1.3.2 Stereotactic Systems
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5.1.3.3 Aneurysm Clips
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5.1.3.4 Other Neurosurgery Devices
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5.1.4 Neurostimulation Devices
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5.1.4.1 Spinal Cord Stimulation Devices
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5.1.4.2 Deep Brain Stimulation Devices
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5.1.4.3 Sacral Nerve Stimulation Devices
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5.1.4.4 Other Neurostimulation Devices
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5.1.4.5 Other Types of Devices
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 B. Braun Melsungen AG
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6.1.2 Stryker Corporation
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6.1.3 Boston Scientific Corporation
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6.1.4 Medtronic PLC
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6.1.5 Abbott Laboratories
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6.1.6 Johnson and Johnson
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6.1.7 Nihon Kohden Corporation
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6.1.8 Smith & Nephew
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6.1.9 Elekta AB
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6.1.10 Integra LifeSciences Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Brazil 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 Brazil Neurology Devices Market is segmented by type of device (Cerebrospinal Fluid Management Device, Interventional Neurology Device, Neurosurgery Device, Neurostimulation Device, and Other Type of Devices).
| By Type of Device | |||||||
| Cerebrospinal Fluid Management Devices | |||||||
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Brazil Neurology Devices Market Research FAQs
What is the current Brazil Neurology Devices Market size?
The Brazil Neurology Devices Market is projected to register a CAGR of 4.70% during the forecast period (2024-2029)
Who are the key players in Brazil Neurology Devices Market?
B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC and Abbott Laboratories are the major companies operating in the Brazil Neurology Devices Market.
What years does this Brazil Neurology Devices Market cover?
The report covers the Brazil Neurology Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Neurology Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Neurology Devices Industry Report
Statistics for the 2024 Brazil Neurology Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Neurology Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
