The France Neurology Devices Market is expected to grow with a CAGR of 7.1% in the forecast period. The key factors propelling the growth of the market are the increasing burden of neurological disorders, a growing number of stroke and cerebral aneurysms, rising disposable incomes coupled with a change in lifestyle. The increasing geriatric population, growth of health consciousness among people, and increasing hospital numbers in the country are further boosting the market growth. As per one of the studies published by ICM - Hôpital Pitié Salpêtrière, each there is a significant increase in the number of patients suffering from neurological diseases such as Alzheimer's Disease, Parkinson's Disease, stroke, epilepsy, etc, which are demanding more healthcare treatment via devices and drugs both, thus boosting the demand of this market in France. Furthermore, increasing foreign direct investment by global medical device manufacturers are boosting the market growth. However, the high cost of the devices and stringent regulations and guidelines for new devices is restraining market growth.
Key Market Trends
Neurostimulation Devices is Expected to Grow Fastest during the Forecast Period
The fastest growth of the segment is due to the increasing usgae of the sacral nerve stimulation devices and deep brain stimulation devices. The deep brain stimulation devices generally used to treat neuropsychiatric disorders and are effectively used in treating various other neurological disorders, like Parkinson's disease, essential tremor, dystonia, chronic pain, major depression, and obsessive-compulsive disorder. The neurostimulation devices are majorly used for chronic neuropathic pain, that are controlled by anticonvulsants and antidepressants. According to Jean Valmier, in the article, published in 2018, stated that neuropathic pain is a chronic illness affecting 7-10% the population in France.
The France 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, Smith & Nephew
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