Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2019 |
| CAGR: | 4.2 % |
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Market Overview
The Chile Neurology Devices Market is expected to grow with a CAGR of 4.2% during the forecasted period. The key factors propelling the growth of this market are increase in incidence of neurological disorders, and Increasing R&D and huge Investments by Private Players in Neurology Devices.
According to the World Population Ageing 2019 report, in Chile population aged 65 years or over in 2019 was 2.252 million (11.9%) and this number is projected to reach to 3.338 million (17.2%). As number of elderly population expected to grow in near future who are more prone neurological disorders which ultimately increases the growth of the market in coming years.
Thus, owing to above factors the market is expected to show significant growth over the forecast period.
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. The Chile 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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Key Market Trends
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.
According to the Organisation for Economic Co-operation and Development (OECD), in 2018, Chile spent about USD 2.2 thousand per person on healthcare, up from USD 1.25 thousand per capita spent in 2010. Thus, rise in healthcare expenditure which is expected to boost the market in near future.
Thus, owing to above factors the segment is expected to show significant growth over the forecast period.
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Competitive Landscape
The Chile 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.
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 Increasing R&D and Huge Investments by Private Players in Neurology Devices
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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 Regulatory Scenario
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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 Medtronic PLC
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6.1.4 Abbott Laboratories
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6.1.5 Johnson and Johnson
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6.1.6 Nihon Kohden Corporation
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6.1.7 Smith & Nephew
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6.1.8 Elekta AB
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6.1.9 Integra LifeSciences Corporation
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Chile Neurology Devices Market market is studied from 2018 - 2026.
What is the growth rate of Chile Neurology Devices Market?
The Chile Neurology Devices Market is growing at a CAGR of 4.2% over the next 5 years.
Who are the key players in Chile Neurology Devices Market?
B. Braun Melsungen AG, Stryker Corporation, Medtronic PLC, Abbott Laboratories, Nihon Kohden Corporation are the major companies operating in Chile Neurology Devices Market.
