Sweden Neurology Devices Market Size (2024 - 2029)

The Sweden neurology devices market is anticipated to experience stable growth, driven by an increasing prevalence of neurological disorders and heightened risk factors. The market's expansion is supported by significant investments from private entities and increased R&D expenditure in neuro therapies. Despite the initial impact of the COVID-19 pandemic on neurology care and device usage, the market is expected to recover as neurological complications related to the pandemic decline. However, challenges such as the high cost of equipment and stringent regulatory requirements may hinder market growth.

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Market Size of Sweden Neurology Devices Industry

Sweden Neurology Devices Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.50 %
Market Concentration Medium

Major Players

Sweden Neurology Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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.

Sweden Neurology Devices Industry Segmentation

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 Sweden neurology devices market is segmented by type of device (cerebrospinal fluid management device, interventional neurology device, neurosurgery device, neurostimulation device, and other types of devices).

The report offers the value (in USD) for the above segments.

By Type of Device
Cerebrospinal Fluid Management Devices
Interventional Neurology Devices
Neurosurgery Devices
Neurostimulation Devices
Other Types of Devices
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Sweden Neurology Devices Market Size Summary

The Sweden neurology devices market is poised for stable growth, driven by an increasing incidence of neurological disorders and significant investments in neurotherapies. The market experienced initial disruptions due to the COVID-19 pandemic, which highlighted the neurological complications associated with the virus. However, as these complications have decreased, the market is expected to expand steadily. The rising prevalence of conditions such as Parkinson's disease, Alzheimer's disease, and epilepsy is a major factor propelling market growth. Additionally, the market is supported by substantial private sector investments and increased research and development expenditures aimed at advancing neurotherapeutic devices. Despite these positive trends, challenges such as high equipment costs and stringent regulatory requirements may hinder market expansion.

The neurostimulation and neurosurgery device segments are anticipated to experience growth due to the high prevalence of conditions like urinary and fecal incontinence, as well as the rising geriatric population. Neurostimulation devices, in particular, are expected to see increased adoption as they are widely used to treat various disorders. The market is moderately consolidated, with key players like B. Braun SE, Medtronic PLC, and Abbott Laboratories actively involved in developing advanced devices. Recent developments, such as clinical trials and studies identifying early markers of Alzheimer's disease, underscore the ongoing innovation and research within the market. These factors collectively contribute to the anticipated growth of the Sweden neurology devices market over the forecast period.

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Sweden 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 Increasing Incidence of Neurological Disorders

      2. 1.2.2 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 Regulations and Guidelines for New Devices

    4. 1.4 Porter's Five Forces 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 (Market Size by Value - USD Million)

    1. 2.1 By Type of Device

      1. 2.1.1 Cerebrospinal Fluid Management Devices

      2. 2.1.2 Interventional Neurology Devices

      3. 2.1.3 Neurosurgery Devices

      4. 2.1.4 Neurostimulation Devices

      5. 2.1.5 Other Types of Devices

Sweden Neurology Devices Market Size FAQs

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

Stryker Corporation, Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories and B.Braun SE are the major companies operating in the Sweden Neurology Devices Market.

Sweden Neurology Devices Market Report Snapshots

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