South Africa Neurology Devices Market Size (2024 - 2029)

The South Africa Neurology Devices Market is anticipated to experience notable expansion over the forecast period, driven by an increase in the prevalence of neurological disorders and substantial investments from private entities in neurology devices. The market's growth is further supported by heightened research and development activities in Neurotherapy. Additionally, the rising population of elderly individuals, particularly those aged 65 and over, is expected to contribute to a growing demand for neurology devices, as this demographic is more susceptible to conditions like dementia. These factors collectively indicate a positive trajectory for the market size in the coming years.

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Market Size of South Africa Neurology Devices Industry

Market Snapshot1
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.50 %

Major Players

South Africa Neurology Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

South Africa Neurology Devices Market Analysis

The South Africa Neurology Devices Market is expected to grow with a CAGR of 4.5% during the forecasted period. 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 in the field of Neurotherapy.

According to the World Population Ageing 2019 report, in South Africa population aged 65 years or over in 2019 was 3.171 million (5.4%) and this number is projected to reach to 4.404 million (6.7%) in 2030. This is expected to consistently increase the dementia patient population which boost the interest of existing players to invest more in this country.

Thus, owing to the above factors the market is expected to show significant growth over the forecast period.

South Africa 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 growth of neurological devices is being driven through an emphasis on developing superior neuromodulation and neurostimulation techniques, leveraging minimally invasive procedures that benefit patients. The South Africa 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
Interventional Neurology Devices
Interventional/Surgical Simulators
Neurothrombectomy Devices
Carotid Artery Stents
Others
Neurosurgery Devices
Neuroendoscopes
Stereotactic Systems
Other Neurosurgery Devices
Neurostimulation Devices
Spinal Cord Stimulation Devices
Deep Brain Stimulation Devices
Sacral Nerve Stimulation Devices
Other Neurostimulation Devices
Other Types of Devices
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South Africa Neurology Devices Market Size Summary

The South Africa Neurology Devices Market is poised for growth, driven by an increasing prevalence of neurological disorders and substantial investments from private entities in the development of neurology devices. The market is further bolstered by advancements in research and development within the neurotherapy sector. As the population aged 65 and over continues to rise, so does the incidence of dementia, prompting existing market players to intensify their investments in the region. This demographic shift is expected to sustain the demand for neurology devices, contributing to the market's expansion over the forecast period.

A notable segment within this market is the sacral nerve stimulation devices, which are particularly beneficial for patients unresponsive to traditional drug therapies. These devices, which deliver electrical impulses to sacral nerves in the lower back, are gaining traction due to the increasing incidence of overactive bladder conditions. The demand for minimally invasive therapies, coupled with technological advancements in device engineering, is driving the growth of this segment. Companies like Medtronic Plc are actively offering solutions such as "The InterStim II System" to enhance the quality of life for patients with bladder and bowel control issues. The market is characterized by fragmentation and competitiveness, with numerous players engaged in the development of advanced neuromodulation techniques, indicating a dynamic landscape with potential for new entrants.

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South Africa Neurology Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increase in Incidence of Neurological Disorders

      2. 1.2.2 Huge Investments by Private Players in Neurology Devices

      3. 1.2.3 Increase in R&D in the Field of Neurotherapies

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Equipment

      2. 1.3.2 Stringent FDA Validation and Guidelines for New Devices

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type of Device

      1. 2.1.1 Cerebrospinal Fluid Management Devices

      2. 2.1.2 Interventional Neurology Devices

        1. 2.1.2.1 Interventional/Surgical Simulators

        2. 2.1.2.2 Neurothrombectomy Devices

        3. 2.1.2.3 Carotid Artery Stents

        4. 2.1.2.4 Others

      3. 2.1.3 Neurosurgery Devices

        1. 2.1.3.1 Neuroendoscopes

        2. 2.1.3.2 Stereotactic Systems

        3. 2.1.3.3 Other Neurosurgery Devices

      4. 2.1.4 Neurostimulation Devices

        1. 2.1.4.1 Spinal Cord Stimulation Devices

        2. 2.1.4.2 Deep Brain Stimulation Devices

        3. 2.1.4.3 Sacral Nerve Stimulation Devices

        4. 2.1.4.4 Other Neurostimulation Devices

      5. 2.1.5 Other Types of Devices

South Africa Neurology Devices Market Size FAQs

The South Africa Neurology Devices Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)

B. Braun Melsungen AG, Stryker Corporation, Medtronic PLC, Abbott Laboratories and Johnson and Johnson are the major companies operating in the South Africa Neurology Devices Market.

South Africa Neurology Devices Report Snapshots

South Africa Neurology Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)