Germany Neurology Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Germany Neurology Devices Market Analysis
The Germany neurology devices market is expected to grow with a CAGR of 7.8% in the forecast period.
The pandemic affected the studied market. Reorganizing stroke and neurological intensive care during the COVID-19 pandemic in Germany, a research study that was published in November 2021, stated that the coronavirus disease 19 (COVID-19) outbreak has dramatically forced healthcare systems to reorganize their departments, including neurological wards. The study compared how to stroke units, intermediate care units (IMC), and neurological intensive care units (ICUs) reorganized and implemented safety measures. A separate location was set up in 84.2% of hospitals for patients awaiting the results of their COVID-19 test, and 94.7% had a designated area for their management. In 36.8% of the institutions, outpatient care was even halted or cut by 63.2%. Thus, the market was adversely affected by the pandemic.
The key factors propelling the growth of the market are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, and an increase in R&D in the field of neuro therapies. The increasing incidence of neurological disorders like brain aneurysms, brain tumors, epilepsy, memory disorders, multiple sclerosis, Parkinson's disease, peripheral neuropathy, and spinal cord tumors is expected to increase the market growth. For instance, according to the German Brain Tumor Association, 2020, 25% of all cancer diagnoses in the young involve tumors in the brain and central nervous system. According to the article published in the Journal of Global Health in February 2021, by Peige Songs, in Germany, the overall prevalence of Attention-deficit/hyperactivity disorder (ADHD) diagnosis was 4.8 % over a lifetime. As expected, there was a considerable gender gap between boys and girls (7.7%). (1.8 percent ). Thus, the increasing prevalence of ADHD is expected to rise the demand for neurology devices thereby boosting the market. Similarly, according to the article published in the Brain Behavior Immunology in August 2021, by Sofia Pappa, Anxiety was found to be prevalent in 23.2% of people, followed by depression in 22.08%, and, insomnia was found to be prevalent in 38.9% of the people. These diseases hamper the normal functioning of the brain thereby boosting the market for neurology devices. Thus, the abovementioned factors are expected to increase the market growth.
However, the high cost of the devices and stringent regulations and guidelines for new devices is restraining market growth.
Germany Neurology Devices Market Trends
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.
Germany Neurology Devices Industry Overview
The Germany neurology devices market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product development. Key players operating in the market are B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC, Abbott Laboratories, Johnson and Johnson, and Smith & Nephew among others.
Germany Neurology Devices Market Leaders
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B. Braun Melsungen AG
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Boston Scientific Corporation
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Stryker Corporation
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Medtronic PLC
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Abbott Laboratories
*Disclaimer: Major Players sorted in no particular order
Germany Neurology Devices Market News
- In November 2021, to give their patients more thorough electronic assessments, Divergence Neuro Technologies Inc. (Divergence) and OVID Clinics GmbH Gr. collaborated to allow OVID to pilot Divergence's cloud-based clinical assessment and neurofeedback software system (the "Divergence Neuro Platform for Therapists").
- In July 2020, Excellent Brain, an Israeli startup that specializes in the development of cutting-edge brain training products using Neurofeedback technology, and Mindtecstore, a brand of TITAN Commerce, a seasoned distributor of cutting-edge EEG equipment and solutions, have joined forces to expand the Neurofeedback market in Europe.
Germany Neurology Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increase in Incidence of Neurological Disorders
- 4.2.2 Increase in R&D in the Field of Neurotherapies
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4.3 Market Restraints
- 4.3.1 High Cost of Equipment
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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 (Market Size by Value - USD million)
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5.1 By Type of Device
- 5.1.1 Cerebrospinal Fluid Management Devices
- 5.1.2 Interventional Neurology Devices
- 5.1.2.1 Interventional/Surgical Simulators
- 5.1.2.2 Neurothrombectomy Devices
- 5.1.2.3 Carotid Artery Stents
- 5.1.2.4 Embolic Coils
- 5.1.2.5 Support Devices
- 5.1.3 Neurosurgery Devices
- 5.1.3.1 Neuroendoscopes
- 5.1.3.2 Stereotactic Systems
- 5.1.3.3 Aneurysm Clips
- 5.1.3.4 Other Neurosurgery Devices
- 5.1.4 Neurostimulation Devices
- 5.1.4.1 Spinal Cord Stimulation Devices
- 5.1.4.2 Deep Brain Stimulation Devices
- 5.1.4.3 Sacral Nerve Stimulation Devices
- 5.1.4.4 Other Neurostimulation Devices
- 5.1.5 Other Types of Devices
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 B. Braun Melsungen AG
- 6.1.2 Boston Scientific Corporation
- 6.1.3 Stryker Corporation
- 6.1.4 Medtronic PLC
- 6.1.5 Abbott Laboratories
- 6.1.6 Johnson and Johnson
- 6.1.7 Smith & Nephew
- 6.1.8 Nihon Kohden Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Germany 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 Germany Neurology Devices Market is Segmented by Type of Device (Cerebrospinal Fluid Management Devices, Interventional Neurology Devices (Interventional/Surgical Simulators, Neurothrombectomy Devices, Carotid Artery Stents, Embolic Coils, and Support Devices), Neurosurgery Devices (Neuroendoscopes, Stereotactic Systems, Aneurysm Clips, and Other Neurosurgery Devices), Neurostimulation Devices (Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, Sacral Nerve Stimulation Devices, and Other Neurostimulation Devices), and Other Types of Devices). The report offers the value (in USD million) for the above segments.
| By Type of Device | Cerebrospinal Fluid Management Devices | |
| Interventional Neurology Devices | Interventional/Surgical Simulators | |
| Neurothrombectomy Devices | ||
| Carotid Artery Stents | ||
| Embolic Coils | ||
| Support Devices | ||
| Neurosurgery Devices | Neuroendoscopes | |
| Stereotactic Systems | ||
| Aneurysm Clips | ||
| Other Neurosurgery Devices | ||
| Neurostimulation Devices | Spinal Cord Stimulation Devices | |
| Deep Brain Stimulation Devices | ||
| Sacral Nerve Stimulation Devices | ||
| Other Neurostimulation Devices | ||
| Other Types of Devices |
Germany Neurology Devices Market Research FAQs
What is the current Germany Neurology Devices Market size?
The Germany Neurology Devices Market is projected to register a CAGR of 7.80% during the forecast period (2024-2029)
Who are the key players in Germany Neurology Devices Market?
B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC and Abbott Laboratories are the major companies operating in the Germany Neurology Devices Market.
What years does this Germany Neurology Devices Market cover?
The report covers the Germany Neurology Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Germany Neurology Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Germany Neurology Devices Industry Report
Statistics for the 2024 Germany Neurology Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Neurology Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
