Mexico Neurology Devices Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2020 |
| CAGR | 6.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Neurology Devices Market Analysis
The Mexico Neurology Devices Market is expected to grow with a CAGR of 6.2% in the forecast period. The key factors propelling the growth of the market are the increasing incidence of neurological disorders and the rising aging population. The increasing incidence of neurological disorders like brain aneurysms, brain tumors, epilepsy, memory disorders, multiple sclerosis, Parkinson’s disease, peripheral neuropathy, post-herpetic neuralgia, spinal cord tumor, and stroke. These neurological diseases mostly occur in the elder population which is in a huge number in the country.
The National Council for the Evaluation of Social Development Policy (CONEVAL 2018) reports that 7.8% of the population in Mexico is 65 years old or older. The increasing elderly population is expected to increase the incidence of chronic neurological diseases that in turn boosts the demand of the devices. However, the high cost of the devices is restraining market growth.
Mexico Neurology Devices Market Trends
This section covers the major market trends shaping the Mexico Neurology Devices Market according to our research experts:
Neurosurgery Devices is Expected to Grow Fastest during the Forecast Period
Neurosurgery devices are widely used for the treatment of various neurological disorders that cannot be cured just with therapeutic drugs. Common neurological disorders include brain tumor, stroke, Parkinson’s disease, Alzheimer’s disease, Epilepsy, and multiple sclerosis.
According to the Institute for Health Metrics and Evaluation, 2017, the number of cases for Parkinson's disease was 13,468; Epilepsy was 70,261; brain and nervous system cancer were 3,288. in Mexico. All these diseases need treatments and procedures, that boost the demand for the neurological devices, therefore, the increasing patient pool is expected to propel the segment growth in the forecast period.
Mexico Neurology Devices Industry Overview
The Mexico Neurology Devices Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players are B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC, Abbott Laboratories, Johnson and Johnson, and Smith & Nephew.
Mexico Neurology Devices Market Leaders
Abbott Laboratories
B. Braun Melsungen AG
Boston Scientific Corporation
Stryker Corporation
Medtronic PLC
*Disclaimer: Major Players sorted in no particular order
Mexico Neurology Devices Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Growing Burden of Neurological Disorders
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4.2.2 Technological Advancements in Neurological Devices
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4.3 Market Restraints
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4.3.1 High Cost of Equipment
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type of Device
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5.1.1 Cerebrospinal Fluid Management Devices
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5.1.2 Interventional Neurology Devices
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5.1.3 Neurosurgery Devices
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5.1.4 Neurostimulation Devices
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5.1.5 Other Types of Devices
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 B. Braun Melsungen AG
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6.1.2 Boston Scientific Corporation
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6.1.3 Stryker Corporation
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6.1.4 Medtronic PLC
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6.1.5 Abbott Laboratories
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6.1.6 Johnson and Johnson
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6.1.7 Smith & Nephew
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6.1.8 Nihon Kohden Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Neurology Devices Industry Segmentation
As per the scope of the report, neurological devices are medical devices that help to diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer's disease, Parkinson’s disease, major depression, and traumatic brain injury.
| By Type of Device | |
| Cerebrospinal Fluid Management Devices | |
| Interventional Neurology Devices | |
| Neurosurgery Devices | |
| Neurostimulation Devices | |
| Other Types of Devices |
Mexico Neurology Devices Market Research FAQs
What is the current Mexico Neurology Devices Market size?
The Mexico Neurology Devices Market is projected to register a CAGR of 6.2% during the forecast period (2023-2028).
Who are the key players in Mexico Neurology Devices Market?
Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation and Medtronic PLC are the major companies operating in the Mexico Neurology Devices Market.
Mexico Neurology Devices Industry Report
Statistics for the 2023 Mexico Neurology Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Neurology Devices analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
