Market Size of South Africa Neurology Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Neurology Devices Market Analysis
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.
South Africa 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 growth of neurological devices is being driven through an emphasis on developing superior neuromodulation and neurostimulation techniques, leveraging minimally invasive procedures that benefit patients. The South Africa Neurology Devices Market is segmented by type of device (Cerebrospinal Fluid Management Device, Interventional Neurology Device, Neurosurgery Device, Neurostimulation Device, and Other Type of Devices).
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| Cerebrospinal Fluid Management Devices | ||||||
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| Other Types of Devices |
South Africa Neurology Devices Market Size Summary
The South Africa Neurology Devices Market is poised for growth, driven by an increasing prevalence of neurological disorders and substantial investments from private entities in the development of neurology devices. The market is further bolstered by advancements in research and development within the neurotherapy sector. As the population aged 65 and over continues to rise, so does the incidence of dementia, prompting existing market players to intensify their investments in the region. This demographic shift is expected to sustain the demand for neurology devices, contributing to the market's expansion over the forecast period.
A notable segment within this market is the sacral nerve stimulation devices, which are particularly beneficial for patients unresponsive to traditional drug therapies. These devices, which deliver electrical impulses to sacral nerves in the lower back, are gaining traction due to the increasing incidence of overactive bladder conditions. The demand for minimally invasive therapies, coupled with technological advancements in device engineering, is driving the growth of this segment. Companies like Medtronic Plc are actively offering solutions such as "The InterStim II System" to enhance the quality of life for patients with bladder and bowel control issues. The market is characterized by fragmentation and competitiveness, with numerous players engaged in the development of advanced neuromodulation techniques, indicating a dynamic landscape with potential for new entrants.
South Africa 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 Incidence of Neurological Disorders
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1.2.2 Huge Investments by Private Players in Neurology Devices
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1.2.3 Increase in R&D in the Field of Neurotherapies
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1.3 Market Restraints
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1.3.1 High Cost of Equipment
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1.3.2 Stringent FDA Validation and Guidelines for New Devices
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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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2.1.2.1 Interventional/Surgical Simulators
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2.1.2.2 Neurothrombectomy Devices
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2.1.2.3 Carotid Artery Stents
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2.1.2.4 Others
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2.1.3 Neurosurgery Devices
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2.1.3.1 Neuroendoscopes
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2.1.3.2 Stereotactic Systems
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2.1.3.3 Other Neurosurgery Devices
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2.1.4 Neurostimulation Devices
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2.1.4.1 Spinal Cord Stimulation Devices
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2.1.4.2 Deep Brain Stimulation Devices
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2.1.4.3 Sacral Nerve Stimulation Devices
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2.1.4.4 Other Neurostimulation Devices
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2.1.5 Other Types of Devices
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South Africa Neurology Devices Market Size FAQs
What is the current South Africa Neurology Devices Market size?
The South Africa Neurology Devices Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in South Africa Neurology Devices Market?
B. Braun Melsungen AG, Stryker Corporation, Medtronic PLC, Abbott Laboratories and Johnson and Johnson are the major companies operating in the South Africa Neurology Devices Market.
