Market Size of France Neurology Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.10 % |
| Market Concentration | Medium |
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?
France Neurology Devices Market Analysis
France's Neurology Devices Market is expected to witness a CAGR of 7.1% in the forecast period.
The COVID-19 pandemic had a significant impact on the neurology devices market. Due to the lockdown across the country, people were postponing their non-emergency visits for neurological diseases. As per the article from PubMed published in April 2021, it was observed that COVID-19 had a significant effect on hospital admissions and treatment for neurological diseases during 2020, and the procedures increased gradually during 2021. However, currently, the market has reached its pre-pandemic nature in terms of demand for neurology devices and is expected to witness strong growth in the coming years.
The key factors propelling the growth of the market are the increasing burden of neurological disorders, a growing number of stroke and cerebral aneurysms, and rising disposable incomes coupled with lifestyle changes.
The increasing geriatric population in the country is one of the major drivers for the market. According to the France Country Health Profile 2021 published in September 2021 by the Organization for Economic Co-operation and Development, around 20.4% of the French population was above the age of 65 years in 2021. Since the geriatric population is more prone to neurological disorders, a rise in the geriatric population is therefore anticipated to drive market growth.
Moreover, the increasing government initiatives and investments to modernize and digitize the French healthcare system are driving the growth of the market studied. In October 2021, France's Health Minister announced the investment of EUR 650.0 (USD 689.58) million to accelerate the national digital health strategy as part of the Health Innovation 2030 plan. Such initiatives may lead to the development of advanced neurological devices, which may increase the market share over the forecast period.
However, the high cost of equipment is expected to hinder market growth in the coming years.
