Market Size of Germany Neurology Devices Industry
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 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.
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Other Types of Devices |
Germany Neurology Devices Market Size Summary
The Germany neurology devices market is poised for significant growth, driven by an increasing incidence of neurological disorders and substantial investments in neurotherapies. The market's expansion is supported by the rising prevalence of conditions such as brain tumors, epilepsy, and Parkinson's disease, which necessitate advanced medical devices. The COVID-19 pandemic initially disrupted the market by forcing healthcare systems to reorganize, impacting outpatient care and neurological wards. However, the demand for neurology devices is expected to rise as the prevalence of disorders like ADHD and anxiety increases, highlighting the need for innovative treatment solutions. Despite challenges such as high device costs and stringent regulatory requirements, the market is set to benefit from the growing use of sacral nerve stimulation and deep brain stimulation devices, which are effective in treating various neurological and neuropsychiatric disorders.
The competitive landscape of the Germany neurology devices market is characterized by the presence of major players such as B. Braun Melsungen AG, Boston Scientific Corporation, and Medtronic PLC, who are actively engaging in strategies like product development and collaborative models to enhance their market position. The launch of new products, such as STADAPHARM GmbH's triple combination therapy for Parkinson's disease, underscores the market's potential for growth. Additionally, partnerships and expansions, like those between Divergence Neuro Technologies Inc. and OVID Clinics GmbH, are fostering innovation and broadening the market's reach. These developments, coupled with the high prevalence of neurological conditions, present substantial opportunities for market growth in Germany.
Germany 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 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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1.4 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 (Market Size by Value - USD million)
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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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2.1.5 Other Types of Devices
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Germany Neurology Devices Market Size 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.