The Finland Neurology Device Market is expected to grow from $27 Mn in 2022 to $xx Mn in 2030 with a CAGR of xx% for 2022-2030. The demand for neurology devices, such as neurostimulation devices, EEG machines, and imaging systems, rises in tandem with the prevalence of neurological illnesses. The elderly population in Finland is increasing, and this group is more likely to experience neurological diseases. Manufacturers can take advantage of this potential by creating neurological Devices that meet the demands of patients. The market is segmented by product type and by the end user. Some key players in the market include Johnson and Johnson, GE Healthcare, Stryker and Medtronic.
The Finland Neurology Devices Market size is around $27 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. Finland spent $24.0 billion on healthcare in 2020, an increase of 3.0% in real terms from the previous year. A $4000 per capita cost was incurred. Healthcare costs made up 9.2% of the GDP in 2020, an increase of 0.2% points over the previous two years. In 2021, governmental funding comprised 78.54% of health spending, while private money comprised 24% of it. From 2018, the proportion of public funding increased by 0.8%.
In Finland, there are roughly 13,000 new cases of stroke each year, and there are about 110,000 persons who have had a stroke. In Finland, there are thought to be 15,000 to 20,000 people who have Parkinson's disease. Around 7,000 to 8,000 people in Finland are thought to have Multiple Sclerosis (MS) on average. In Finland, there are currently 200,000 persons who have Alzheimer's disease or another type of dementia. There are roughly 50,000 people in Finland who have epilepsy. Patients recovering from neurological disorders like spinal cord injuries and stroke use neurology devices, such as robotic exoskeletons and virtual reality systems. In order to treat neurological conditions such as chronic pain, mobility problems, and spasticity, neurology devices are used.
Market Growth Drivers
The elderly population in Finland is increasing, and this group is more likely to experience neurological diseases. Manufacturers can take advantage of this potential by creating neurological Devices that meet the demands of senior patients. The demand for neurology devices, such as neurostimulation devices, EEG machines, and imaging systems, rises in tandem with the prevalence of neurological illnesses. Manufacturers can take advantage of this chance by creating cutting-edge neurology devices that are tailored to the individual requirements of patients and healthcare professionals. Technical developments in neurology devices have led to the creation of ground-breaking devices with enhanced therapeutic and diagnostic capabilities. Manufacturers can take advantage of this chance by spending money on research and development to build cutting-edge neurology devices that provide more precision, sensitivity, and patient comfort.
Market Restraints
In Finland, there is government oversight of neurology devices, and following the rules can be significant and time-consuming. Maintaining compliance with evolving regulatory requirements, particularly for more modern and complicated devices, may be difficult for manufacturers in Finland.
Key Players
2021: In 2021, the Swiss firm Abacus Medical and the Finland Company Nexstim signed a distribution agreement to offer Nexstim's NBS System throughout the Nordic and Baltic nations. Nexstim develops and markets guided brain stimulation systems for therapeutic and diagnostic uses.
2021: In 2021, Kapyla Rehabilitation Center, a Finnish neurological rehabilitation centre, and the Finnish business Kaiku Health, which offers digital patient monitoring and patient-reported outcome solutions, partnered to create a digital platform for monitoring patients with neurological illnesses.
In Finland, The National Supervisory Authority for Welfare and Health and the Finnish Medicines Agency (FIMEA) are in authority of the regulatory environment for neurology devices. The Finland government also encourages the use of cutting-edge medical technologies, including neurology devices, through a number of programmes like the Innovative Public Procurement programme. This programme promotes the use of cutting-edge medical technologies by public healthcare providers, such as neurology devices, through open public procurement procedures.
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
The Neurology Device Market is segmented as mentioned below:
By Product Type (Revenue, USD Billion):
By End User (Revenue, USD Billion):
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