Market Size of France Neurology Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
France Neurology Devices Market Analysis
France's Neurology Devices Market is expected to witness a CAGR of 7.1% in the forecast period.
The COVID-19 pandemic had a significant impact on the neurology devices market. Due to the lockdown across the country, people were postponing their non-emergency visits for neurological diseases. As per the article from PubMed published in April 2021, it was observed that COVID-19 had a significant effect on hospital admissions and treatment for neurological diseases during 2020, and the procedures increased gradually during 2021. However, currently, the market has reached its pre-pandemic nature in terms of demand for neurology devices and is expected to witness strong growth in the coming years.
The key factors propelling the growth of the market are the increasing burden of neurological disorders, a growing number of stroke and cerebral aneurysms, and rising disposable incomes coupled with lifestyle changes.
The increasing geriatric population in the country is one of the major drivers for the market. According to the France Country Health Profile 2021 published in September 2021 by the Organization for Economic Co-operation and Development, around 20.4% of the French population was above the age of 65 years in 2021. Since the geriatric population is more prone to neurological disorders, a rise in the geriatric population is therefore anticipated to drive market growth.
Moreover, the increasing government initiatives and investments to modernize and digitize the French healthcare system are driving the growth of the market studied. In October 2021, France's Health Minister announced the investment of EUR 650.0 (USD 689.58) million to accelerate the national digital health strategy as part of the Health Innovation 2030 plan. Such initiatives may lead to the development of advanced neurological devices, which may increase the market share over the forecast period.
However, the high cost of equipment is expected to hinder market growth in the coming years.
France 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 French Neurology Devices Market is segmented by Type of Device (Cerebrospinal Fluid Management Devices, Interventional Neurology Devices, Neurosurgery Devices, Neurostimulation Devices, and Other Types of Devices). The report offers the value in USD million for the above segments.
| By Type of Device | |
| Cerebrospinal Fluid Management Devices | |
| Interventional Neurology Devices | |
| Neurosurgery Devices | |
| Neurostimulation Devices | |
| Other Types of Devices |
France Neurology Devices Market Size Summary
The France Neurology Devices Market is poised for robust growth, driven by an increasing prevalence of neurological disorders and a rising geriatric population. The market has rebounded to its pre-pandemic state, with demand for neurology devices expected to surge in the coming years. Key factors contributing to this growth include the growing incidence of strokes and cerebral aneurysms, lifestyle changes, and rising disposable incomes. Government initiatives aimed at modernizing the healthcare system, such as significant investments in digital health strategies, are further propelling market expansion. Despite the high cost of equipment posing a challenge, the market is witnessing advancements in neurosurgery devices, spurred by the need to address essential tremors and traumatic brain injuries.
The competitive landscape of France's Neurology Devices Market is characterized by the presence of major players employing strategies like mergers, acquisitions, and collaborations to enhance their market position. Companies such as B. Braun SE, Boston Scientific Corporation, and Medtronic PLC are actively involved in product development and business expansion. The market is also seeing innovations like Carthera's SonoCloud-9, designated as a breakthrough device by the US FDA, and Braintale's brainTale-care platform, which underscores the ongoing advancements in neurological technology. These developments, coupled with government strategies to manage the rising burden of neurological diseases, are expected to sustain the market's growth trajectory over the forecast period.
France Neurology Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Burden of Neurological Disorders
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1.2.2 Increasing Geriatric Population and High Disposable Income
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1.3 Market Restraints
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1.3.1 High Cost of Equipment
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type of Device
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2.1.1 Cerebrospinal Fluid Management Devices
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2.1.2 Interventional Neurology Devices
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2.1.3 Neurosurgery Devices
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2.1.4 Neurostimulation Devices
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2.1.5 Other Types of Devices
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France Neurology Devices Market Size FAQs
What is the current France Neurology Devices Market size?
The France Neurology Devices Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)
Who are the key players in France Neurology Devices Market?
Boston Scientific Corporation, Stryker Corporation, Medtronic PLC, Abbott Laboratories and B. Braun SE are the major companies operating in the France Neurology Devices Market.
