India Neurology Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 7.1 %

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Market Overview

  • The key factors propelling the growth of the market in India are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, an increase in R&D in the field of Neurotherapy, and the rising aging population.
  • The growth of the neurology devices market in India is also attributed to the increasing incidence of neurological disorders that include brain aneurysms, brain tumors, epilepsy, memory disorders, multiple sclerosis, Parkinson’s disease, peripheral neuropathy, post-herpetic neuralgia, spinal cord tumor, and stroke.
  • Moreover, the increasing healthcare spending, increasing investment by medical device manufacturers, and increasing neurological disease prevalence is expected to drive the overall Neurology Devices market growth in India.

 

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 growth of neurological devices is being driven through an emphasis on developing superior neuromodulation and neurostimulation techniques, leveraging minimally invasive procedures that benefit patients. This has resulted in companies investing more in R&D, in an effort to better treat and rehabilitate the brain. 

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 Dominate the Market over the Forecasted Period

  • Neurostimulation devices are implantable, programmable medical devices that deliver electrical stimulation to a specific part of the patient’s brain, spinal cord or peripheral nervous system to help treat various conditions, including chronic pain, movement disorders, epilepsy, and Parkinson’s disease. 
  • Neuromodulation is an intracranial, electrical neuromodulation therapy that has FDA approval for the treatment for most of the neurological diseases such as bladder control, headache, tremors, chronic pain, stroke, minimally conscious state, and spinal cord injury, which are most commonly found in the elderly population.
  • In India, the geriatric population is rising. As a result, the incidence of neurological disorders is also expected to rise in India. Hence it is expected that the demand for these devices is expected to increase in the future.
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Competitive Landscape

India is a developing country. As result there, increasing demand for neurology devices. This has in-turn helped market growth of neurology devices market. This has made the market more lucrative. This will encourage global players to make their presence in India.

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

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

      3. 4.2.3 Rise in the Aging Population

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Equipment

      2. 4.3.2 Stringent Regulatory Validation and Guidelines for New Devices

    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 Abbott Laboratories

      2. 6.1.2 B. Braun Melsungen AG

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Johnson and Johnson

      5. 6.1.5 Medtronic PLC

      6. 6.1.6 MicroPort Scientific Corporation

      7. 6.1.7 Nihon Kohden Corporation

      8. 6.1.8 Smith & Nephew

      9. 6.1.9 Stryker Corporation

    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 India Neurology Devices Market market is studied from 2018 - 2026.

The India Neurology Devices Market is growing at a CAGR of 7.1% over the next 5 years.

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

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