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The Japan 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).
The Japan Neurology Devices Market is expected to grow with a CAGR of 5.5% 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 Ageing 2019 report, the number of people who are above 65 years of age in Japan was 35.524 million (28%) in 2019 which is projected to reach 37.278 million (30.9%) in 2030. As number of geriatric population is expected to increase in coming years who are more prone to disorders such as cognitive impairment and dementia which ultimately rises the growth of market in near future.
Thus, owing to above factors the market is expected to show significant growth over the forecast period.
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 Japan 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|
|Other Types of Devices|
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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 minimally invasive therapy, rising prevalence of urinary bladder diseases, and technological advancements such as the introduction of novel coatings and engineering strategies are the main factors driving the growth of the market.
According to a nationwide survey study report by Suzuki M et al., presented at ICS 2019 Gothenburg, estimated that the prevalence of double incontinence among the elderly population is very high in Japan. Moreover, the aging rate of elderly population among entire population, has been increasing in Japan exceeded 28.1% in 2019 and which is expected to rise in future which shows positive impact on market and this group of population need these devices for the management of the diseases.
Thus, rising prevalence of elderly population along with increasing urinary disorders is expected to drive the market in near future.
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The Japan 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.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Incidence of Neurological Disorders
4.2.2 Huge Investments by Private Players in Neurology Devices
4.2.3 Increase in R&D in the Field of Neurotherapies
4.3 Market Restraints
4.3.1 High Cost of Equipment
4.3.2 Stringent FDA Validation and Guidelines for New Devices
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Device
5.1.1 Cerebrospinal Fluid Management Devices
5.1.2 Interventional Neurology Devices
126.96.36.199 Interventional/Surgical Simulators
188.8.131.52 Neurothrombectomy Devices
184.108.40.206 Carotid Artery Stents
5.1.3 Neurosurgery Devices
220.127.116.11 Stereotactic Systems
18.104.22.168 Other Neurosurgery Devices
5.1.4 Neurostimulation Devices
22.214.171.124 Spinal Cord Stimulation Devices
126.96.36.199 Deep Brain Stimulation Devices
188.8.131.52 Sacral Nerve Stimulation Devices
184.108.40.206 Other Neurostimulation Devices
5.1.5 Other Types of Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Stryker Corporation
6.1.3 Boston Scientific Corporation
6.1.4 Medtronic PLC
6.1.5 Abbott Laboratories
6.1.6 Johnson and Johnson
6.1.7 Nihon Kohden Corporation
6.1.8 Smith & Nephew
6.1.9 Elekta AB
6.1.10 Integra LifeSciences Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments