The Lebanon 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 prevalence of neurodegenerative diseases like Alzheimer's and Parkinson's disease is rising in Lebanon as the population matures. The demand for Neurology devices, such as diagnostic instruments or brain stimulation devices, may increase as a result of the expanding patient population. 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.
The Lebanon Neurology Devices Market size is at around $xx Bn in 2022 and is projected to reach $xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period. The cost of contemporary health care represented 8.80% of Lebanon's Gross Domestic Product (GDP) in 2020. Lebanon's GDP per individual is approximately $8,259. Health expenditures are roughly $662, and public health spending is approximately $345. Lebanon's health spending rose by 57% over the previous 15 years to $719 per person in 2017. Lebanon's health expenses as a share of GDP rank among the highest in the Arab world (8.80% in 2021).
Better patient outcomes can be achieved by using neurology devices to diagnose and manage neurological conditions more precisely. Numerous neurology devices are non-invasive, which means they don't need to be surgically implanted or involve other intrusive procedures. This lowers the possibility of complications and makes patient therapy safer. Numerous neurological disorders, such as epilepsy, Parkinson's disease, multiple sclerosis, Alzheimer's disease, and others are diagnosed using neurology devices. These diseases are diagnosed using tools like computed tomography scanners, magnetic resonance imaging machines, and electroencephalogram machines. Neurology device is used in a number of ways to address neurological conditions. For instance, vagus nerve stimulation devices are used to treat epilepsy and melancholy, while deep brain stimulation devices are used to treat Parkinson's disease and essential tremors. Neurology devices are also used to track the progression of neurological disorders. The neurological function is monitored and any alterations in neurological conditions are detected using equipment like nerve conduction studies, electroencephalography machines, and electromyography machines.
Market Growth Drivers
The prevalence of neurodegenerative diseases like Alzheimer's and Parkinson's disease is rising in Lebanon as the population matures. The demand for Neurology devices, such as diagnostic instruments or brain stimulation devices, may increase as a result of the expanding patient population. The demand for neurology devices in Lebanon may be fueled by new developments and inventive goods that enhance patient outcomes in terms of diagnosis, treatment, and outcomes. For instance, patients and healthcare professionals may find interest in the creation of minimally invasive procedures or wearable technology. Government policies in Lebanon that are advantageous, such as tax breaks or subsidies, may promote the creation and production of neurology devices there. Additionally, laws that support the effectiveness, safety, and high quality of neurology devices can foster market expansion and industry confidence.
Recent economic and political unrest in Lebanon may have an impact on the desire for and cost neurology devices. Healthcare expenditure may decline as a result of instability, making it difficult for hospitals and clinics to make costly purchases of neurology devices. Neurology devices prices in Lebanon may rise as a result of import tariffs and taxes, making it more difficult for healthcare providers to buy them. High taxes and tariffs may make it more difficult for international companies to compete in the Lebanese market for neurology devices.
October 2020: A Medical technology firm called LivaNova declared in 2020 that the first Vagus Nerve Stimulation (VNS) Therapy System implantation in Lebanon had been successfully completed. Epilepsy and melancholy that is resistant to therapy are both treated with the VNS Therapy System.
The Lebanese Ministry of Public Health (MoPH) and the Lebanese Order of Physicians (LOP) oversee the regulatory framework for healthcare in Lebanon and the market for neurology devices. In Lebanon, the MoPH is in charge of establishing the rules and policies governing the use of neurology devices. Additionally, it is in charge of issuing licences for the importation, marketing, and retailing of neurology devices in Lebanon. The MoPH has published recommendations for the registration of neurology devices in Lebanon, including particular regulations pertaining to neurology devices. The requirements for the registration of neurology devices are outlined in the guidelines, including the requirement for clinical data and proof of safety and effectiveness. To further monitor the security of neurology devices in Lebanon, the MoPH created a medical device vigilance system. This method enables the reporting of unfavourable incidents and offers a way to monitor and address safety issues with regard to neurology devices.
1. Report Description of the Lebanon Neurology Device Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Lebanon Neurology Device Market Executive Summary
2.1 Lebanon Neurology Device Market – Industry Snapshot & key buying criteria, 2021-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Lebanon Neurology Device Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Lebanon Neurology Device Market Segmentation
4.1 By Device Type
4.1.2 Interventional Neurology
4.1.3 CSF Management
4.1.4 Neurosurgery Devices
4.2 By End User
4.2.1 Hospitals and Clinics
4.2.2 Speciality Centres
5. Lebanon Neurology Device Market Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Lebanon
8.2 Regulatory Framework in Lebanon
8.3 Pricing & Reimbursement Scenario in Lebanon Neurology Device Market
9. Factors Driving Future Growth
9.1 New Trends and Development Lebanon Neurology Device Market
9.2 Future Opportunities
10. Strategic Recommendations
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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