Neurology Devices Market - China Industry Analysis, Size, Share, Growth , Trends, and Forecast The China neurology devices market size is projected to expand at a CAGR of 5.22% during the forecast period. Growth of the market is attributed to the increasing neurological diseases, rising investment in neuroscience equipment by private agents, and the growth of R&D in neurotherapies.
Neurological equipment helps in early detection of various neurological diseases to help prevent Alzheimer’s disease, major depression, spinal cord injury, acute ischemic stroke, traumatic brain injury, and other diseases. These devices represent minimally invasive based technology. Neurological devices are usually used in complex neurological cases, such as acute ischemic stroke, and are recommended for minimally invasive treatment. Compared to drug thrombolysis, these devices have potential advantages, such as faster recanalization and lower bleeding risk. The Covid-19 pandemic affected the demand and supply of China neurology devices market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
Increasing investment in pharmaceutical and biotechnology industry is anticipated to boost the market during the forecast period. Rapid growth of the healthcare industry due to increasing geriatric population is the major factors fueling the market during the forecast period. Growing demand for minimally invasive surgeries and improvement in healthcare infrastructure is projected to drive the market during forecast period.