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Australia Neurology Devices Market- Growth, Trends, and Forecasts (2020 - 2025)

  • ID: 5175576
  • Report
  • August 2020
  • Region: Australia
  • 90 pages
  • Mordor Intelligence
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until Dec 31st 2020

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FEATURED COMPANIES

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Johnson and Johnson
  • Medtronic PLC
  • Nihon Kohden Corporation
  • Penumbra Inc.
  • MORE
The Australia Neurology Devices Market is expected to grow with a CAGR of 6.1% in the forecast period. 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 the rising aging population.

According to the Australian Bureau of Statistics, 2019, the proportion of the population aged 65 years and over increased from 12.3% to 15.9% over the 20 years. the increasing geriatric population has a heavy risk of developing neurological diseases like sleeping disorders, Parkinson's diseases, etc. therefore, the growing geriatric population boosts the market growth in the country.

However, the high cost of the devices and stringent regulations and guidelines for new devices is restraining market growth.

Key Market Trends

Neurostimulation Devices is Expected to Grow Fastest during the Forecast Period

The fastest growth of the segment is due to the increasing usage of the sacral nerve stimulation devices and deep brain stimulation devices. The 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 PainAustrlia.org, 3.24 million Australians were living with chronic pain in 2018. 1.74 million were women and 1.50 million were men. The neurostimulation devices are majorly used for chronic neuropathic pain, that is not controlled by anticonvulsants and antidepressants. hence the large patient pool is a boosting factor for the segment growth.

Competitive Landscape

The Australia Neurology Devices Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players are B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC, Abbott Laboratories, Johnson and Johnson, Smith & Nephew

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Johnson and Johnson
  • Medtronic PLC
  • Nihon Kohden Corporation
  • Penumbra Inc.
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Incidence of Neurological Disorders coupled with Rise in Geriatric Population
4.2.2 Increase in R&D in the Field of Neurotherapies
4.3 Market Restraints
4.3.1 High Cost of Equipment and Stringent Regulations
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
5.1 By Type of Device
5.1.1 Cerebrospinal Fluid Management Devices
5.1.2 Interventional Neurology Devices
5.1.3 Neurosurgery Devices
5.1.4 Neurostimulation Devices
5.1.5 Other Types of Devices

6 COMPETITIVE LANDSCAPE
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 PLC
6.1.8 Nihon Kohden Corporation
6.1.9 Penumbra Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown

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  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Stryker Corporation
  • Medtronic PLC
  • Abbott Laboratories
  • Johnson and Johnson
  • Smith & Nephew PLC
  • Nihon Kohden Corporation
  • Penumbra Inc.
Note: Product cover images may vary from those shown

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