The UAE Neurology Devices Market is expected to grow with a CAGR of 4.8% during the forecast period. The key factors propelling the growth of this market are increasing burden of neurological disorders, and huge investments by private players in neurology devices.
According to the World Population Ageing 2019 report, in UAE population aged 65 years or over in 2019 was 1,13,000 (1.2%) and this number is projected to reach 5,48,000 (5.1%) in 2030. The country is having large category of the elderly and older population which may raise the need for neurological diseases related treatment. This is expected to consistently increase the patient population with neurological disorders which boosts the interest of existing players to invest more in this country.
Thus, owing to the above factors the market is expected to show significant growth over the forecast period.
Key Market Trends
Neurostimulation Devices Segment is Expected to Grow Good Over the Forecast Period
The Neurostimulation devices such as sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. It is performed with the help of a small device, which is capable of sending electrical impulses to the targeted sacral nerves located in the lower back region. These devices are found to be successful in treating bladder problems. Hence, with increasing incidences of overactive bladder, the sacral nerve stimulation devices segment is expected to grow during the forecast period.
Sacral nerve stimulation devices are an effective and safe treatment for patients suffering from fecal and urinary dysfunction. Increasing demand for the minimal invasive therapy, rising prevalence of urinary bladder diseases, and technological advancements such as introduction of novel coatings and engineering strategies are the main factors driving the growth of the market.
In UAE, Stryker company offers "Neuroform Atlas Stent System" which is designed to provide enhanced conformability, stability, and ease of use. The unique adaptive cell design provides the coil support and wall apposition needed to perform safe and effective stent-assisted coiling procedures.
Thus, considering above all factors the segment is expected to show growth in coming years.
The UAE Neurology Devices Market is fragmented competitive. There are market participants involved in R&D for the development of advanced simulation and neuromodulation techniques with minimally invasive procedures that are more preferable to the patients. Furthermore, many private companies are showing great interest in developing novel neurological devices to earn huge profits. In the coming years, few other players are expected to enter the market.
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