New Zealand Neurology Devices Market Analysis

New Zealand Neurology Devices Market Analysis


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The New Zealand 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 market for neurology devices in New Zealand has grown as a result of the increase in neurological disorders such as multiple sclerosis, Alzheimer's disease, Parkinson's disease, epilepsy, and other disorders. The market is segmented by treatment, route of administration, age group, and by distribution channel. Some key players in this market include Medtronic, Boston Scientific, Natus Medical, Johnson and Johnson, and Nihon Kohden.

ID: IN10NZMD012 CATEGORY: Medical Devices GEOGRAPHY: New Zealand AUTHOR: Jigyasu Bhandari

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New Zealand Neurology Devices Market Executive Analysis

The New Zealand 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. Over the next four decades, it is expected that New Zealand's population would rise by approximately one-fifth, from 4.8 Mn in 2020 to 5.7 Mn in 2060. In 2020, there were expected to be 16.4% more people than 65 years old than there were in 1960 (8.6%). This is relatively near to both the average (17.0%) and the percentage recorded in Australia (16.2%) according to the Organisation for Economic Co-operation and Development (OECD). The proportion of people 65 and older will more than double to more than 25.9% of the population by 2060, while the proportion of people in the oldest age groups (80 and above) will more than triple.

New Zealand now has the highest mortality rate from motor neuron disease in the world, with 2.2 fatalities per 100,000 people, just ahead of Australia and the United Kingdom. One in four New Zealanders over 65 will experience a brain ailment by 2036, including Alzheimer's, Parkinson's, and stroke. Debilitating neurological deficits, loss of independence, and a major ongoing healthcare requirement are the results of these illnesses, which are now incurable. The most common kind of dementia is Alzheimer's Disease (AD). It is a progressive brain disease that over time impairs memory, thinking, and reasoning skills, ultimately limiting a person's ability to live freely. The majority of the time, older people experience it. A rough 10% of New Zealanders over 65 and over 25% of those over 85 are considered to have AD, according to estimates. Every week, two people in New Zealand pass away from motor neuron disease. One in 300 people is at risk of getting the disease, and the majority pass away within 15 to 20 months of being diagnosed.

Market Dynamics

Market Growth Drivers

The market for neurology devices in New Zealand has grown as a result of the increase in neurological disorders such as multiple sclerosis, Alzheimer's disease, Parkinson's disease, epilepsy, and other disorders. Estimates predict that as neurological ailments become more common, the market for neurology equipment will grow. The demand for non-invasive and minimally invasive neurology devices has been expanding significantly in New Zealand, which has been fueled by a number of causes including the increased prevalence of neurological illnesses, technological improvements, and these considerations.

Market Restraints

Neurology device regulations in New Zealand are restrictive, which might make it difficult for smaller businesses and start-ups to enter the market. The protracted and difficult regulatory process can also prevent the release of innovative products, which might restrict market expansion. Neurology devices may face competition from alternative therapies including physical therapy and pharmacological treatments for the treatment of neurological problems. This may restrict the uptake and application of neurology devices, which could impede market expansion.

Competitive Landscape

Key Players

  • Medtronic
  • Boston Scientific
  • Stryker
  • Johnson and Johnson
  • Natus Medical
  • Nihon Kohden

Notable Recent Deals

January 2022: A non-invasive ventilation technology has been acquired by the New Zealand-based Fisher & Paykel Healthcare from the German business B&D Electromedical. Patients with neurological diseases like ALS and Parkinson's disease who are experiencing respiratory distress can be treated with this device.

Healthcare Policies and Regulatory Landscape

For neurology devices, New Zealand has a well-established regulatory framework. The New Zealand Medicines and Medical Devices Safety Authority (Medsafe), the country's regulatory body, is in charge of regulating neurological devices there. Medsafe evaluates the efficacy and safety of neurology devices and grants approvals for those that adhere to its requirements. Medsafe also keeps an eye on the neurology devices' safety and responds if any problems are found. New Zealand’s healthcare policy is created by the government. For instance, the Ministry of Health is in charge of creating rules and regulations for the use of neurological equipment. To create rules that support patient safety and provide access to the right neurological technologies, the ministry collaborates closely with healthcare providers and patient organizations.

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.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

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

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Last updated on: 21 February 2023
Updated by: Riya Doshi

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