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

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

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.

Key Market Trends

Sacral Nerve Stimulation Devices is the Segment under Neurostimulation Devices that is Expected to Grow Fastest during the Forecast Period

The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. It is performed with the help of a small device, which is capable of sending electrical impulses to the targeted sacral nerves located in the lower back region. These devices are found to be successful in treating bladder problems. Hence, with increasing incidences of overactive bladder, the sacral nerve stimulation devices segment is expected to grow during the forecast period.

Sacral nerve stimulation devices are an effective and safe treatment for patients suffering from fecal and urinary dysfunction. Increasing demand for minimally invasive therapy, rising prevalence of urinary bladder diseases, and technological advancements such as the introduction of novel coatings and engineering strategies are the main factors driving the growth of the market.

In South Africa, Medtronic Plc offers "The InterStim II System" the neurostimulator for bladder and bowel control which delivers sustained improvements in quality of life for people with overactive bladder (OAB), nonobstructive urinary retention, and chronic fecal incontinence (FI).

Competitive Landscape

The South Africa Neurology Devices Market is fragmented competitive. There are market participants involved in R&D for the development of advanced stimulation and neuromodulation techniques with minimally invasive procedures that are more preferable to the patients. Furthermore, many private companies are showing great interest in developing novel neurological devices to earn huge profits. In the coming years few other players are expected to enter into the market.

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1 INTRODUCTION
1.1 Study Assumptions
1.2 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
4.2.2 Huge Investments by Private Players in Neurology Devices
4.2.3 Increase in R&D in the Field of Neurotherapies
4.3 Market Restraints
4.3.1 High Cost of Equipment
4.3.2 Stringent FDA Validation and Guidelines for New Devices
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
5.1.2.1 Interventional/Surgical Simulators
5.1.2.2 Neurothrombectomy Devices
5.1.2.3 Carotid Artery Stents
5.1.2.4 Others
5.1.3 Neurosurgery Devices
5.1.3.1 Neuroendoscopes
5.1.3.2 Stereotactic Systems
5.1.3.3 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
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Stryker Corporation
6.1.3 Medtronic PLC
6.1.4 Abbott Laboratories
6.1.5 Johnson and Johnson
6.1.6 Nihon Kohden Corporation
6.1.7 Smith & Nephew
6.1.8 Integra LifeSciences Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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