Market Size of Brazil Neurology Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Brazil Neurology Devices Market Analysis
The Brazil Neurology Devices Market is expected to grow with a CAGR of 4.7% 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 Population Ageing 2019 report, in Brazil population aged 65 years or over in 2019 was 19.526 million (9.3%) and this number is projected to reach to 30.413 million (13.6%) in 2030. As the number of elderly population is expected to grow in coming years and elderly population are more prone to neurological disorders such as Parkinsons disease and Alzheimer's disease which drives the market in future.
Thus, owing to above factors the market is expected to show significant growth over the forecast period.
Brazil Neurology Devices Industry Segmentation
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 Brazil 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 | |||||||
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Brazil Neurology Devices Market Size Summary
The Brazil Neurology Devices Market is poised for growth, driven by an increasing incidence of neurological disorders and substantial investments from private entities in the development of neurology devices. The aging population in Brazil, which is projected to rise significantly, is particularly susceptible to neurological conditions such as Parkinson's and Alzheimer's diseases, further propelling market expansion. The market is characterized by the development of advanced neurotherapies and the growing demand for minimally invasive treatments. Sacral nerve stimulation devices, in particular, are gaining traction due to their effectiveness in treating bladder issues when other therapies fail. This segment's growth is supported by technological advancements and the rising prevalence of urinary bladder diseases.
The competitive landscape of the Brazil Neurology Devices Market is fragmented, with numerous participants engaged in research and development to create advanced stimulation and neuromodulation techniques. The market is witnessing increased interest from private companies aiming to introduce innovative neurological devices. Government support, as indicated by rising healthcare expenditures, is expected to further bolster the market. Key players such as B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC, and Abbott Laboratories are actively involved in this dynamic market, with new entrants anticipated in the coming years.
Brazil Neurology Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Incidence of Neurological Disorders
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1.2.2 Huge Investments by Private Players in Neurology Devices
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1.2.3 Increase in R&D in the Field of Neurotherapies
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1.3 Market Restraints
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1.3.1 High Cost of Equipment
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1.3.2 Stringent FDA Validation and Guidelines for New Devices
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type of Device
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2.1.1 Cerebrospinal Fluid Management Devices
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2.1.2 Interventional Neurology Devices
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2.1.2.1 Interventional/Surgical Simulators
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2.1.2.2 Neurothrombectomy Devices
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2.1.2.3 Carotid Artery Stents
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2.1.2.4 Embolic Coils
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2.1.2.5 Support Devices
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2.1.3 Neurosurgery Devices
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2.1.3.1 Neuroendoscopes
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2.1.3.2 Stereotactic Systems
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2.1.3.3 Aneurysm Clips
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2.1.3.4 Other Neurosurgery Devices
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2.1.4 Neurostimulation Devices
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2.1.4.1 Spinal Cord Stimulation Devices
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2.1.4.2 Deep Brain Stimulation Devices
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2.1.4.3 Sacral Nerve Stimulation Devices
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2.1.4.4 Other Neurostimulation Devices
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2.1.4.5 Other Types of Devices
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Brazil Neurology Devices Market Size FAQs
What is the current Brazil Neurology Devices Market size?
The Brazil Neurology Devices Market is projected to register a CAGR of 4.70% during the forecast period (2024-2029)
Who are the key players in Brazil Neurology Devices Market?
B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC and Abbott Laboratories are the major companies operating in the Brazil Neurology Devices Market.
