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Chile Neurology Devices Market Size, Share, Growth, Report: By Type: Cerebrospinal Fluid Management Devices, Interventional Neurology Devices, Neurosurgery Devices, Neurostimulation Devices, Others; By End-Use: Hospitals, Ambulatory Surgery Centres; Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Chile Neurology Devices Market Outlook
The Chile neurology devices market size was approximately USD 42.61 million in 2023. The market is assessed to grow at a CAGR of 2.80% between 2024 and 2032, reaching a value of USD 53 million by 2032.
Key Takeaways
- Chile was the 75th largest exporter of medical instruments in the world in 2022, with exports totalling $14.9M.
- The integration of artificial intelligence into neurology devices is on the rise, improving their functionalities. Artificial intelligence driven devices can aid in customised treatment strategies, precise diagnosis, and forecasting patient prognoses.
- Chile is poised to be the inaugural nation worldwide to enact legislation on neurotechnologies and incorporate "brain rights" into its constitution.
The healthcare sector in Chile has been experiencing a significant growth, which is a key driver of the market for neurology devices. The increasing prevalence of neurological disorders worldwide is boosting the demand for proper treatments and diagnostic procedures, consequently driving the neurology devices demand. The rise in the elderly population and the growing cases of neurovascular conditions, like stroke, among seniors are further fuelling the demand for these treatments.
Furthermore, continuous advancements in neurology devices and the high demand for minimally invasive surgeries are also major factors contributing to the Chile neurology devices market growth. Other factors, such as substantial investments by global medical device manufacturers, increasing healthcare spending, and extensive research and development in neurotherapy, are also playing a role in driving the market.
According to the Chile neurology devices market analysis, cerebrospinal fluid management devices hold a substantial share of the market. These devices have been specifically designed to offer a secure and device-based alternative for the treatment of debilitating and life-threatening diseases that involve contaminants in the cerebrospinal fluid. The presence of blood in the spinal fluid poses a significant challenge for patients with aneurysmal Subarachnoid Hemorrhage (aSAH), which is a severe neurological condition that occurs following the rupture of a cerebral aneurysm. The existence of blood in the spinal fluid increases the risk of complications such as edema, delayed neurological deficits, hydrocephalus, and stroke. Failure to remove the blood from the central nervous system significantly elevates the risk of stroke by 3.7 times and the likelihood of requiring endovascular procedures by 2.6 times for aSAH patients. It has been demonstrated that the removal of blood through cerebrospinal fluid management devices yields beneficial outcomes.
Moreover, cutting- edge technologies like artificial intelligence (AI) are revolutionising the field of neurology by seamlessly integrating into various devices, enhancing their functionalities, and ultimately improving patient outcomes. With the ability to analyse vast amounts of data and learn from patterns, artificial intelligence powered neurology devices are transforming the way neurological disorders are diagnosed, treated, and monitored.
Market Segmentation
Chile Neurology Devices Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Type
- Cerebrospinal Fluid Management Devices
- Interventional Neurology Devices
- Interventional/Surgical Simulators
- Neurothrombectomy Devices
- Carotid Artery Stents
- Embolic Coils
- Support Devices
- Neurosurgery Devices
- Neuroendoscopes
- Stereotactic Systems
- Aneurysm Clips
- Others
- Neurostimulation Devices
- Spinal Cord Stimulation Devices
- Deep Brain Stimulation Devices
- Sacral Nerve Stimulation Devices
- Others
- Others
Market Breakup by End-Use
- Hospitals
- Ambulatory Surgery Centres
- Others
Competitive Landscape
Market participants are progressively directing their attention towards the integration of cutting-edge technologies like artificial intelligence and machine learning into neurology devices to attain a competitive advantage.
- B. Braun Melsungen SE
- Stryker Corporation
- Medtronic Plc
- Abbott Laboratories
- Nihon Kohden Corporation
- Integra Lifesciences Corporation
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- PMT Corporation
- MicroPort Scientific Corporation
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by End-Use |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Chile Neurology Devices Market Overview
8.1 Key Industry Highlights
8.2 Chile Neurology Devices Historical Market (2017-2023)
8.3 Chile Neurology Devices Market Forecast (2024-2032)
9 Chile Neurology Devices Market by Type
9.1 Cerebrospinal Fluid Management Devices
9.1.1 Historical Trend (2017-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Interventional Neurology Devices
9.2.1 Historical Trend (2017-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Type
9.2.3.1 Interventional/Surgical Simulators
9.2.3.2 Neurothrombectomy Devices
9.2.3.3 Carotid Artery Stents
9.2.3.4 Embolic Coils
9.2.3.5 Support Devices
9.3 Neurosurgery Devices
9.3.1 Historical Trend (2017-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Type
9.3.3.1 Neuroendoscopes
9.3.3.2 Stereotactic Systems
9.3.3.3 Aneurysm Clips
9.3.3.4 Others
9.4 Neurostimulation Devices
9.4.1 Historical Trend (2017-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Type
9.4.3.1 Spinal Cord Stimulation Devices
9.4.3.2 Deep Brain Stimulation Devices
9.4.3.3 Sacral Nerve Stimulation Devices
9.4.3.4 Others
9.5 Others
10 Chile Neurology Devices Market by End-Use
10.1 Hospitals
10.1.1 Historical Trend (2017-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Ambulatory Surgery Centres
10.2.1 Historical Trend (2017-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 B. Braun Melsungen SE
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Stryker Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Medtronic Plc
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Abbott Laboratories
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Nihon Kohden Corporation
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Integra Lifesciences Corporation
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Boston Scientific Corporation
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Koninklijke Philips N.V.
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 PMT Corporation
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 MicroPort Scientific Corporation
12.2.10.1 Company Overview
12.2.10.2 Product Portfolio
12.2.10.3 Demographic Reach and Achievements
12.2.10.4 Certifications
12.2.11 Others
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Chile Neurology Devices Market: Key Industry Highlights, 2017 and 2032
2. Chile Neurology Devices Historical Market: Breakup by Type (USD Million), 2017-2023
3. Chile Neurology Devices Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Chile Neurology Devices Historical Market: Breakup by End-Use (USD Million), 2017-2023
5. Chile Neurology Devices Market Forecast: Breakup by End-Use (USD Million), 2024-2032
6. Chile Neurology Devices Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 42.61 million.
The market is estimated to grow at a CAGR of 2.80% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 53 million by 2032.
The market is driven by the rise in government investment in the healthcare sector and an increase in neurological disorders among the population.
The key market trends include the integration of cutting-edge technologies into neurology devices and the growing investments by medical device manufacturers.
The major types of neurology devices in the market are cerebrospinal fluid management devices, interventional neurology devices, neurosurgery devices, and neurostimulation devices, among others.
The major end users in the market are hospitals, and ambulatory surgery centres, among others.
The major players in the market are B. Braun Melsungen SE, Stryker Corporation, Medtronic Plc, Abbott Laboratories, Nihon Kohden Corporation, Integra Lifesciences Corporation, Boston Scientific Corporation, Koninklijke Philips N.V., PMT Corporation, and MicroPort Scientific Corporation, among others.
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