Canada Neurology Devices Market Evolution Segmentation and Insight of Trends 2023 to 2028 with Top Countries Data

Report Overview

The Canada neurology devices market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 7.5% during the forecast period.

Neurological devices are medical devices that help to diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer's disease, Parkinsons disease, major depression, and traumatic brain injury. In Canada the burden of neurological disease is expected to increase as the population ages, Therefore, the increasing geriatric population in the country is boosting the market growth. The National Population Health Study of Neurological Conditions (NPHSNC) is also aiming to improve knowledge about neurological conditions and their impacts on individuals, their families, caregivers, and the health care system.

Market Drivers

Neurological conditions are among the leading causes of disability in the Canadian population and are associated with a large public health burden. The key factors propelling the growth of the market are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, an increase in R&D in the field of neuro therapies, and the rise in the aging population. The increasing incidence of neurological disorders is increasing foreign direct investment by global medical device manufacturers is boosting the market growth.

Major Neurological Diseases with Prevalence

The major neurological diseases in Canada are stroke, Brain injury, epilepsy, spinal cord injury, Alzheimers disease or other dementias, multiple sclerosis, Parkinsons disease. Of these, people suffering from the effects of strokes are more in number compared to any other disease, it is followed by Brain injury and spinal cord injury.

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Top Major Players

The Canada Neurology Devices Market is moderately competitive with several major players, recently NeuroCatch Inc. has received a Health Canada medical device license for Canada's first and only objective, rapid neuro-physiological brain function assessment system, through the measurement of event-related potentials (ERPs), that is easy-to-use, cost-effective, and readily accessible. Medtronics is another major player in Canada Neurological Device Market and has also received a Health Canada licence for the Percept™ PC Deep Brain Stimulation (DBS) system with BrainSense™ Technology. BrainSense technology makes Percept; the first and only licensed DBS neurostimulation system with the ability to chronically capture and record brain signals while delivering therapy to patients with neurologic disorders associated with Parkinson's disease, essential tremor, dystonia, or epilepsy. Other major players are B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, etc.

The Canada Neurology Devices Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global Canada Neurology Devices market. This report explores all the key factors affecting the growth of the global Canada Neurology Devices market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Market Segmentation

By Device Type:

Based on device type, the market is segmented into cerebrospinal fluid management devices, interventional neurology devices, neurosurgery devices, neurosurgery devices, neurostimulation devices, Neurorehabilitation Devices, and other types of devices. Neurostimulation devices are the fastest-growing segment due to the increasing usage of sacral nerve stimulation devices and deep brain stimulation devices. The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. These devices are found to be successful in treating bladder problems. The deep brain stimulation devices are generally used to treat neuropsychiatric disorders and are effectively used in treating various other neurological disorders, like Parkinson's disease (PD), essential tremor, dystonia, chronic pain, major depression, and obsessive-compulsive disorder. The Wearable Neurorehabilitation devices market is also seeing tremendous growth owing to the increase in R&D expenditure and convenience in usage.

By End User:

On the basis of end user market is segmented into Hospitals, Neurology Clinics, Ambulatory Care Centres. Of these, the hospital segment garnered maximum share in Canada and is anticipated to continue this during the forecast period. This is attributed to the easy availability of neurological devices in hospital settings and preference among patients to visit hospitals for diagnosis and treatment of neurological devices

Top Major Players

The Canada Neurology Devices Market is moderately competitive with several major players, recently NeuroCatch Inc. has received a Health Canada medical device license for Canada's first and only objective, rapid neuro-physiological brain function assessment system, through the measurement of event-related potentials (ERPs), that is easy-to-use, cost-effective, and readily accessible. Medtronics is another major player in Canada Neurological Device Market and has also received a Health Canada licence for the Percept™ PC Deep Brain Stimulation (DBS) system with BrainSense™ Technology. BrainSense technology makes Percept; the first and only licensed DBS neurostimulation system with the ability to chronically capture and record brain signals while delivering therapy to patients with neurologic disorders associated with Parkinson's disease, essential tremor, dystonia, or epilepsy. Other major players are B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, etc.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global Canada Neurology Devices Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global Canada Neurology Devices Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Canada Neurology Devices market
Chapter 2: Exclusive Summary - the basic information of the Canada Neurology Devices Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Canada Neurology Devices
Chapter 4: Presenting the Canada Neurology Devices Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Canada Neurology Devices market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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