Sweden Neurology Devices Market Size

Sweden Neurology Devices Market Analysis

The Sweden neurology devices market is expected to register a CAGR of 4.5% during the forecasted period.

• The COVID-19 pandemic significantly impacted neurology care in Sweden during the early phase, which also impacted the usage of neurology devices. For instance, according to an article published by PubMed in January 2023, a study was conducted in Southern Sweden, which showed that 74% of the patients admitted due to COVID-19 had one or more neurological complications. Thus, the COVID-19 pandemic significantly impacted the market initially; however, as the pandemic subsided, people are having fewer neurological complications associated with COVID-19. Hence, the studied market is expected to have stable growth during the forecast period of the study.
• The key factors propelling the growth of this market are an increase in the incidence of neurological disorders, huge investments by private players in neurology devices, and an increase in R&D expenditure in the field of neuro therapies.
• The rising prevalence of neurological disorders, such as Parkinson's disease, Alzheimer's disease, epilepsy, and brain diseases, among others, is the major factor driving the market growth. For instance, according to an article published by PubMed in September 2022, a study was conducted in Sweden that showed that hospital-treated infections were associated with an increased risk of Alzheimer's diseases and Parkinson's diseases in Sweden, primarily among Alzheimer's disease and Parkinson's diseases cases diagnosed before 60 years. Such studies suggest that infectious events can be a trigger or amplifier of a pre-existing disease process, leading to the clinical onset of neurodegenerative disease at a relatively early age. Thus, the high burden of these neurodegenerative diseases in the country is expected to boost market growth.
• Moreover, according to an article published by PubMed Central in October 2022, a study was conducted in Sweden that showed an increased risk of epilepsy following both bacterial and viral central nervous system infections, most prominently after herpes simplex encephalitis and brain abscesses which can both cause loss of brain tissue and cortical scarring. Thus, the increased risk of epilepsy is expected to increase the disease burden, which is further expected to boost the usage of neurology devices in Sweden.
• Thus, the aforementioned factors, such as the rising prevalence of neurological disorders and the increasing risk factors, are expected to boost the market growth during the forecast period of the study. However, the high cost of equipment and stringent regulations and guidelines for new devices are expected to impede market growth.