Russia Neurology Devices Market Analysis

Russia Neurology Devices Market Analysis


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The Russia Neurology Devices Market is expected to witness growth from $206 Mn in 2022 to $xx Bn in 2030 with a CAGR of xx% for the forecasted year 2022-2030. New technologies such as robotic exoskeletons, brain-computer interfaces, and minimally invasive surgical devices are propelling growth in Russia's neurology devices market. Various companies in Russia are investing in R&D, which is resulting in the development of innovative neurology devices that are driving the market growth. The market is segmented by product type and by the end user. The key players in Russia's neurology device market are Medtronic, Cadwell Industries, Boston Scientific, Natus Medical, Cadwell Industries, and Integra LifeSciences.

ID: IN10RUMD012 CATEGORY: Medical Devices GEOGRAPHY: Russia AUTHOR: Jigyasu Bhandari

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Russia Neurology Devices Market Executive Analysis

The Russia Neurology Devices Market size is at around $206 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. In Russia, healthcare costs accounted for about 5.3% of the GDP. An estimated 20% of this amount was spent on capital expenses, which included the building and remodeling of healthcare facilities and the acquisition of medical equipment. There are 80–100 instances of Multiple Sclerosis (MS) per 100,000 individuals in Russia.

According to estimates, there are 3-5 new occurrences for every 100,000 persons annually; there are 300–400 instances of Parkinson's disease per 100,000 persons in Russia. According to estimates, there are 12 to 20 new cases of Parkinson’s disease for every 100,000 persons each year, there are 5–10 instances of epilepsy per 1,000 individuals in Russia. According to estimates, there are between 50 and 70 new cases for every 100,000 persons annually, there are approximately 169 incidents of stroke for every 100,000 individuals in Russia each year. According to estimates, there are 600–700 cases of stroke for every 100,000 persons.

Neurology Devices are used to identify, treat, and keep track of illnesses and diseases that impact the neurological system. These tools are made to help medical experts assess the physical characteristics and electrical activity of the brain, spinal cord, and peripheral nerves. Neurology devices are used to identify and treat illnesses like Parkinson's disease, epilepsy, and chronic pain. The market for neurology devices in Russia is also fueled by the rise in the popularity of minimally invasive procedures and the creation of cutting-edge goods. In addition, there is a rising need for neurology equipment in academic and research settings for the investigation of the neurological system and associated diseases. Patients with illnesses like traumatic brain injury and stroke are monitored using neurology devices that track activity in the brain and nervous system. Neurology devices are used in research to better understand neurological issues and develop novel remedies.

russia neurology devices market analysis

Market Dynamics

Market Growth Drivers

In Russia, the prevalence of neurological disorders is rising as a result of a number of causes, including an aging population, poor lifestyles, and environmental pollution, which is a growing demand for neurology devices. New technologies such as robotic exoskeletons, brain-computer interfaces, and minimally invasive surgical devices are propelling growth in Russia's neurology devices market. Various companies in Russia are investing in R&D, which is resulting in the development of innovative neurology devices that are driving the market growth. The favorable regulatory environment in Russia encourages new market participants and enhances innovation in the neurology devices industry.

Market Restraints

There is a lack of general public awareness and understanding of neurological disorders, resulting in low demand for neurology devices. Medical device licensing processes are complicated and subject to stringent government regulations, which can delay the launch of new devices.

Competitive Landscape

Key Players

  • Stryker
  • Medtronic
  • Natus Medical
  • Cadwell Industries
  • Boston Scientific
  • Integra LifeSciences

Notable Recent Deals

2022: The acquisition of Neurosoft, a Russian manufacturer of medical equipment, by Nihon Kohden, a Japanese medical technology company, is one notable deal in the Russian market for neurology devices. EEG, EMG, and evoked potentials testing equipment, which are crucial diagnostic tools in neurology, are the area of expertise of Neurosoft. This acquisition expands Nihon Kohden's presence in Russia's neurology devices market.

Healthcare Policies and Regulatory Landscape

The Federal Service for Surveillance in Healthcare (FSSH) and the Ministry of Health of the Russian Federation oversee healthcare policy and regulatory landscape in Russia regarding neurology devices. Roszdravnadzor registration and approval are required for neurology devices before they may be marketed and sold in Russia. The approval procedure could be laborious and complicated. Some neurology devices used in the management of specific neurological illnesses are partially reimbursed by the Russian government. In Russia, intellectual property is protected by laws and rules. Manufacturers of neurology devices are required to abide by these rules in order to safeguard their innovation.

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”.

 

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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.

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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
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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: Ritu Baliya

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