Argentina Neurology Devices Market Analysis

Argentina Neurology Devices Market Analysis


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Argentina's Neurology Device Market is expected to witness growth from $xx Bn in 2022 to $xx Bn in 2030 with a CAGR of xx% for the forecasted year 2022-2030. The demand for neurology devices is rising in Argentina as neurological diseases are becoming more common. This includes ailments like multiple sclerosis, Parkinson's disease, seizures, and stroke, among others. The market is segmented by product type and by the end user. Some key players in this market include Johnson and Johnson, GE Healthcare, Stryker, Medtronic, Abbott Laboratories, and Philips Healthcare.

ID: IN10ARMD012 CATEGORY: Medical Devices GEOGRAPHY: Argentina AUTHOR: Jigyasu Bhandari

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Argentina Neurology Devices Market Executive Analysis

Argentina Neurology Devices Market size is at around $xx Bn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. Argentina typically spends 10% of its GDP on healthcare, which is among the highest rates in the area. In Argentina, imports make up between 70%-75% of the market for medical devices and equipment. The United States typically controls between 20% -25% of the market.

In Argentina, Neurological diseases affected 8.8% of the total population. Stroke (7.4%), dementia (8.6%), and migraine (17.9%) were the most prevalent brain conditions. Multiple Sclerosis (MS), Parkinson's disease, and epilepsy were some other prevalent brain conditions. In Argentina, there are 200 incidences of Parkinson's disease for every 100,000 people. 7.6 out of every 1,000 people in Argentina had epilepsy. 8.4 instances of Multiple Sclerosis (MS) were found for every 100,000 people in Argentina. In research studies to better comprehend neurological disorders and create novel treatments, neurology devices are used in Argentina. TMS and EEG devices are two examples of tools used in studies to look into the neural processes underlying different neurological disorders. In Argentina, Neurology Devices are used to track the development of the illness and the effectiveness of treatment. For instance, EEG and EMG devices are used to assess, respectively, the efficacy of treatments for epilepsy and neuromuscular diseases. Imaging technology is used to track the development of diseases like brain tumors and multiple sclerosis (MS).

Market Dynamics

Market Growth Drivers

The demand for neurology devices is rising in Argentina as neurological diseases are becoming more common. This includes ailments like multiple sclerosis, Parkinson's disease, seizures, and stroke, among others. The market for neurology devices is being driven by Argentina's growing elderly population. As people get older, they have a greater chance of getting neurological conditions like dementia, Alzheimer's, and Parkinson's. The demand for newer, more sophisticated devices in Argentina is being driven by technological developments in neurology devices. For instance, improvements in imaging technology have produced more precise and accurate imaging systems that are used to identify and track neurological diseases.

Market Restraints

In Argentina, reimbursement for neurology devices might be constrained, which can make it challenging for medical professionals and patients to obtain these devices. The ability of manufacturers to offer their products on the market may be restricted by limited reimbursement. The Argentine market for neurology devices may also be constrained by regulatory issues. A manufacturer's ability to sell their products on the market may be constrained if they have trouble getting regulatory clearance for their devices.

Competitive Landscape

Key Players

  • Philips Healthcare
  • Medtronic
  • Abbott Laboratories
  • Johnson & Johnson
  • Boston Scientific
  • Nihon Kohden
  • GE Healthcare
  • Stryker

Notable Recent Deals

2020: To distribute Neurosoft's EEG and EMG systems in Argentina, Grupo Gamma, an Argentine distributor of medical technology, revealed a partnership with Neurosoft (a Russian company) in 2020.

2020: To support and provide training for deep brain stimulation (DBS) procedures, top medical device manufacturer Medtronic revealed a partnership with Hospital Universitario Austral in Buenos Aires in 2020.

Healthcare Policies and Regulatory Landscape

A Regulatory structure for Neurology devices exists in Argentina. The National Administration of Drugs, Food, and Medical Technology (ANMAT) is Argentina's governing body in charge of monitoring neurology devices. In Argentina, the safety, effectiveness, and quality of neurology devices are governed by ANMAT. The regulatory approval of ANMAT is required for manufacturers to sell neurology devices in Argentina. An application must be submitted as part of the clearance process, and it must contain data on the device's efficacy and safety as well as details on its production and quality control procedures. A device may be distributed in the Argentine market once it has received approval. The market for neurology devices in Argentina is influenced by healthcare policies in addition to governmental approval. The Argentina government has put in place a number of programmes to enhance access to and the quality of the country's healthcare system, including neurology treatment. For instance, the National Neurological Disease Plan was introduced in 2015 with the aim of enhancing neurological disease diagnosis, management, and therapy. The strategy calls for expanding the number of facilities with a focus on neurological care as well as enhancing patients' access to care and medications for neurological illnesses.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Neurology Device Market Segmentation

The Neurology Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

  • Neurostimulation
  • ?Spinal Cord Stimulation Devices
  • Deep Brain Stimulation Devices
  • Sacral Nerve Stimulation
  • Vagus Nerve Stimulation
  • Gastric Electric Stimulation
  • Interventional Neurology
    • Aneurysm Coiling & Embolization
    • Embolic Coils
    • Flow Diversion Devices
    • Liquid Embolic Agents
    • Cerebral Balloon Angioplasty & Stenting
    • Carotid Artery Stents
    • Filter Devices
    • Balloon Occlusion Devices
    • Neurothrombectomy
    • Clot Retriever
    • Suction Aspiration Devices
    • Snares
  • CSF Management
    • CSF Shunts
    • CSF Drainage
  • Neurosurgery Devices
    • Ultrasonic Aspirators
    • Stereotactic Systems
    • Neuroendoscopes
    • Aneurysm Clips

By End User (Revenue, USD Billion):

  • ??Hospitals and Clinics
  • Specialty Centres
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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The market is segmented by product type and by end-user.

The Argentina Neurology devices market is studied from 2022-2030.

Johnson and Johnson, GE Healthcare, Stryker, Medtronic, Abbott Laboratories and Philips Healthcare are the major companies operating in Argentina's neurology devices market.


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  • Qualitative, acute and result oriented market analysis
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Last updated on: 22 November 2023
Updated by: Riya Doshi

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