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Argentina Neurology Devices Market Size (2024 - 2029)

The Argentina neurology devices market is anticipated to experience stable growth over the forecast period, driven by an increasing prevalence of neurological disorders and significant investments in research and development. The market's expansion is supported by the resurgence of neurology care post-pandemic, although challenges such as high equipment costs and stringent regulatory requirements may hinder progress. Despite these obstacles, the market's size is expected to grow as the demand for neurology devices rises in response to the growing incidence of conditions like Parkinson's, Alzheimer's, and epilepsy.

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Market Size of Argentina Neurology Devices Industry

Argentina Neurology Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.80 %

Major Players

Argentina Neurology Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Argentina Neurology Devices Market Analysis

The Argentina neurology devices market is expected to grow with a CAGR of 4.8% during the forecasted period.

The COVID-19 pandemic significantly impacted neurology care in Argentina during the early phase, which in turn impacted the usage of neurology devices as well. For instance, according to an article published by Frontiers in September 2021, a study was conducted in Argentina, which showed that the number of emergency department visits and outpatient consultations to an Argentinian tertiary neurological center remained very low during the initial pandemic phase. Thus, the COVID-19 pandemic significantly impacted the market initially; however, as the pandemic has currently subsided, neurology care is going back to normal in Argentina; 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 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 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 Frontiers in May 2022, Argentina is said to have a high prevalence of epilepsy and a study was conducted in the country which showed that the pooled prevalence rate of epilepsy was 5.3 per 1,000 for male patients and 7.1 per 1,000 for female patients.

Furthermore, according to the data updated by ClinicalTrials.gov in April 2023, there are currently 11 active clinical trials of dementia in Argentina. Thus, the rise in research and development in Argentina related to neurological disorders such as dementia is expected to boost market growth.

Thus, the aforementioned factors, such as the rising prevalence of neurological disorders and the increasing research and development activities, 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.

Argentina 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 Argentina Neurology Devices market is segmented by type of device (cerebrospinal fluid management device, interventional neurology device (interventional/surgical simulators, neuro thrombectomy devices, carotid artery stents, embolic coils, and support devices), neurosurgery device (neuro endoscopes, stereotactic systems, aneurysm clips, and other neurosurgery devices), neurostimulation device (spinal cord stimulation devices, deep brain stimulation devices, sacral nerve stimulation devices, and other neurostimulation devices), and other type of devices). The report offers the value (in USD) for the above segments.

By Type of Device
Cerebrospinal Fluid Management Devices
Interventional Neurology Devices
Interventional/Surgical Simulators
Neurothrombectomy Devices
Carotid Artery Stents
Embolic Coils
Support Devices
Neurosurgery Devices
Neuroendoscopes
Stereotactic Systems
Aneurysm Clips
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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Argentina Neurology Devices Market Size Summary

The Argentina 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 affected neurology care and device usage. However, as the situation has normalized, the market is expected to expand steadily. Key factors contributing to this growth include the rising prevalence of conditions such as Parkinson's disease, Alzheimer's disease, and epilepsy, alongside robust research and development activities in the field. The market is characterized by a fragmented landscape with numerous private players investing in advanced neurology devices, aiming to capitalize on the growing demand.

Segments such as sacral nerve stimulation devices and deep brain stimulation devices are anticipated to see increased adoption due to the high prevalence of urinary and fecal incontinence, as well as neurological disorders among the adult and geriatric populations. The rising awareness and prevalence of these conditions are expected to drive the demand for such devices. Additionally, ongoing clinical trials and research initiatives in Argentina are likely to further bolster market growth. Despite challenges like high equipment costs and stringent regulations, the market's potential is supported by the active involvement of key players and the development of minimally invasive procedures.

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Argentina 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 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 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

        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 Embolic Coils

        5. 2.1.2.5 Support Devices

      3. 2.1.3 Neurosurgery Devices

        1. 2.1.3.1 Neuroendoscopes

        2. 2.1.3.2 Stereotactic Systems

        3. 2.1.3.3 Aneurysm Clips

        4. 2.1.3.4 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

Argentina Neurology Devices Market Size FAQs

The Argentina Neurology Devices Market is projected to register a CAGR of 4.80% during the forecast period (2024-2029)

Stryker Corporation, Medtronic PLC, Abbott Laboratories, Nihon Kohden Corporation and B.Braun SE are the major companies operating in the Argentina Neurology Devices Market.

Argentina Neurology Devices Market Report Snapshots

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