Sweden Neurology Devices Market Analysis Report 2022 to 2030

Sweden Neurology Devices Market Analysis

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Sweden's Neurology Devices Market size was valued at $45 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022-30 and will reach $xx Mn in 2030. The market for neurology devices in Sweden is expanding as a result of rising healthcare spending, population growth, ageing, and the rising demand for healthcare services are some of the variables that are responsible for this increase in spending. The market is segmented by product type and by the end user. Some key players in the market include Medtronic, Stryker, Abbott Laboratories, B. Braun Melsungen AG, Abbott Laboratories, Johnson and Johnson, and Jude Medical.

ID: IN10SEMD012 CATEGORY: Medical Devices GEOGRAPHY: Sweden AUTHOR: Jigyasu Bhandari

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Sweden Neurology Devices Market Executive Analysis

The Netherland Neurology Devices Market is at around $45 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. Sweden's health spending as a percentage of GDP in 2019 was 10.9%. Although Sweden's health spending as a percentage of GDP has been very variable recently. In 2016, health spending made up 10.9% of the GDP. The central government only contributed about 2% of this cost, whereas municipalities contributed up to 25% and the regions roughly 57% in Sweden respectively. Sweden has the fifth-highest per capita spending on health care in Europe and the third-highest share of GDP spent on it (11.0% in 2015 vs. 9.9% for the rest of Europe). 84% of all health spending is made up of public funds, which is more than the average for Europe (79%).

Neurological Devices are medical tools that aid in the diagnosis, prevention, and treatment of a range of neurological disorders and conditions, including traumatic brain injury, Alzheimer's disease, Parkinson's disease, and major depression. The majority of individuals for whom pharmacological therapy or other types of medication are unsuccessful use sacral nerve stimulation devices. It is carried out with the aid of a little apparatus that can deliver electrical impulses to the targeted sacral nerves in the lower back. It has been discovered that these devices are effective in addressing bladder issues. The segment for sacral nerve stimulation devices is therefore anticipated to expand over the course of the forecast period as the prevalence of overactive bladder rises.

sweden neurology devices market analysis

Market Dynamics

Market Growth Drivers

Sweden's neurology devices market is anticipated to expand significantly during the next few years. Sweden's strong emphasis on innovation and well-developed healthcare system has aided in the country's expanding market for neurology devices. The demand for neurology devices is rising in Sweden as neurological ailments like epilepsy, Parkinson's disease, and Alzheimer's disease become more common. Sweden places a lot of emphasis on R&D and has made large investments in the life sciences industry. This promotes innovation and the creation of new products and technologies in the market for neurology devices. The expansion of the neurology market is being fuelled by the creation of novel and cutting-edge instruments for minimally invasive neurosurgery and portable EEG. The healthcare industry is adopting these devices more frequently as a result of the increased accuracy, usability, and patient comfort they provide. The market for neurology devices is expanding as a result of rising healthcare spending in Sweden. Population growth, aging, and the rising demand for healthcare services are some of the variables that are responsible for this increase in spending.

Market Restraints

The Swedish government's lengthy and challenging regulatory approval process for innovative neurological devices may prohibit certain companies from entering the market. The regulatory environment for neurological devices, in particular, is highly regulated, and in Sweden, adhering to the regulations can be challenging and time-consuming. This might make it harder for cutting-edge and innovative technologies to get started.

Competitive Landscape

Key Players

B. Braun Melsungen AG
Stryker
Medtronic
Boston Scientific
Abbott Laboratories
Medtronic
Jude Medical
Johnson and Johnson

Notable Recent Deals

2021: The Japanese pharmaceutical firm Eisai and the Swedish medical technology business BioArctic. To research and market innovative antibody therapeutics for the treatment of Alzheimer's disease and other neurological illnesses, the two businesses have formed a strategic partnership. The collaboration merges Eisai's expertise in drug research and marketing with BioArctic's knowledge of neurology devices.

2022: The acquisition of Neuronetrix Solutions by Elekta, a Swedish business in the medical technology industry. Electroencephalography (EEG) technology is used by Neuronetrix, a US-based company, to create and commercialize a diagnostic platform called COGNISION that assesses brain function. Elekta's acquisition of Neuronetrix broadens its selection of neurology devices and strengthens the company's position as a world authority on precise neurosurgery.

Healthcare Policies and Regulatory Landscape

The development and use of neurology devices are encouraged by Sweden's established regulatory framework for medical devices. The country's approval and marketing of neurology devices are governed by the Swedish Medical Products Agency (MPA). Manufacturers must receive a CE Marking certification and adhere to the Medical Produce Agency (MPA) medical device rules in order to commercialize a neurological product in Sweden. The MPA also demands clinical data to show the device's effectiveness and safety. Sweden’s healthcare system is publicly supported, the majority of medical treatments, including neurology care, are offered for free or at a minimal cost. The Swedish government routinely evaluates healthcare regulations and allots funds to provide equal and high-quality healthcare access.

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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.