Market Trends of Germany Neurology Devices Industry
This section covers the major market trends shaping the Germany Neurology Devices Market according to our research experts:
Neurostimulation Devices is Expected to Grow Fastest during the Forecast Period
The fastest growth of the segment is due to the increasing usage of sacral nerve stimulation devices and deep brain stimulation devices. The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. 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 the Globocan 2020, the total estimated cases of brain, and central nervous system cancer in Germany in 2020 was around 7,697 with a 5-year prevalence of 23,889 cases. Thus, such a high prevalence rate in the country is expected to increase the demand for neurology devices.
As stated by the Alzheimer's Association, in the year 2021, more than 1.6 million people in Germany were suffering from Alzheimer's Disease. A large number of Alzheimer's patients indicate the market opportunity in the country. Additionally, in February 2021, Germany-based STADAPHARM GmbH launched a new triple combination product with modern pump technology for the treatment of advanced Parkinson's disease in Germany and Austria. Thus, such product launches are expected to increase the market growth.
Thus, the abovementioned factors are expected to increase the market growth.
