India Neurology Devices Market By Product Type (Neurostimulation Devices, Neurodiagnostic Devices), By Distribution Channel (Direct Sales, Third-Party Distributors), By Application (Epilepsy, Parkinson’s Disease), By End-User (Hospitals, Neurology Clinics), Size and Forecast
Report ID: 470314|No. of Pages: 202
India Neurology Devices Market By Product Type (Neurostimulation Devices, Neurodiagnostic Devices), By Distribution Channel (Direct Sales, Third-Party Distributors), By Application (Epilepsy, Parkinson’s Disease), By End-User (Hospitals, Neurology Clinics), Size and Forecast
India Neurology Devices Market Size And Forecast
India Neurology Devices Market size was valued at USD 272.5 Million in 2024 and is projected to reach USD 542.97 Million by 2031, growing at a CAGR of 9.0% from 2024 to 2031.
- Neurology devices encompass a broad spectrum of medical technologies used for the diagnosis, monitoring, and treatment of neurological disorders.
- These devices are integral to the management of conditions such as epilepsy, stroke, Parkinson’s disease, and traumatic brain injuries.
- Neurology devices can be categorized into diagnostic tools, therapeutic devices, and monitoring systems.
- The neurostimulation devices, such as deep brain stimulators, are used to treat conditions like Parkinson’s disease and epilepsy.
- These devices play a pivotal role in improving patient outcomes and enhancing the quality of life for individuals with neurological conditions.
- The field of neurology devices is evolving with technological advancements such as artificial intelligence (AI), machine learning, and minimally invasive techniques that enhance the precision and efficiency of diagnoses and treatments.
India Neurology Devices Market Dynamics
The key market dynamics that are shaping the India neurology devices market include:
Key Market Drivers
- Rising Prevalence of Neurological Disorders: The market is witnessing substantial growth due to the escalating prevalence of neurological disorders. The Indian Council of Medical Research (ICMR) reported in February 2024 that neurological disorders affect approximately 22% of the population, representing a significant healthcare challenge.
- Growing Prevalence of Neurological Disorders: India’s rapidly developing healthcare infrastructure is one of the critical drivers for neurology device market expansion. The Ministry of Health and Family Welfare’s data from January 2024 indicated a 15.7% increase in specialized neurology centers across major metropolitan regions?. For instance, in September 2023, GE Healthcare responded by launching advanced neuroimaging technologies specifically designed for emerging market requirements.
- Rising Technological Advancements in Neurology Devices: Technological innovations are propelling the neurology devices market. The Department of Science and Technology revealed in March 2024 that India’s investment in neurological medical technology research increased by 22.5% compared to the previous fiscal year. For instance, in December 2023, Siemens Healthineers demonstrated commitment by introducing AI-powered neurological diagnostic platforms.?
- Rising Government Investments in Neurology Devices: Economic investments are boosting the neurology devices market’s potential. The government’s Production Linked Incentive (PLI) scheme, as reported in May 2024, allocated approximately INR 1,200 crores specifically for medical device manufacturing. For instance, in October 2023, Medtronic India announced a USD 50 million investment in local manufacturing capabilities.
Key Challenges:
- High Cost of Production Hampering the Affordability: The high cost of advanced neurology devices remains a significant barrier to market growth. According to a 2023 report by the Indian Ministry of Health and Family Welfare, only 1 in 10 hospitals in India have access to advanced neuroimaging equipment. Many healthcare facilities, particularly in rural areas, cannot afford these technologies, limiting access to quality neurological care.
- Deficit of Neurologists Hindering Device Utilization: India’s shortage of skilled professionals, such as neurologists and medical technicians is hampering the effective use of neurology devices. The Ministry of Health reported in 2023 that there is a deficit of over 20,000 neurologists in the country. This shortage is impacting the deployment and usage of advanced neurological technologies in clinical settings.
- Limited Awareness and Delayed Diagnosis: The limited awareness of neurological diseases and available treatments is hampering the demand for specialized neurology devices. A 2023 survey by the Indian Council of Medical Research indicated that only 40% of the population is aware of neurological conditions like strokes and epilepsy. This lack of awareness is discouraging early diagnosis and treatment, reducing the demand for advanced medical technologies.
- Rural Infrastructure Gap Hindering Market Growth: The lack of infrastructure in rural regions of India is obstructing the growth of the neurology devices market. As of 2023, the government reported that only 30% of India’s rural population has access to healthcare facilities equipped with neurology devices. This geographical disparity is limiting the reach of advanced neurological care.
Key Trends
- Rising Geriatric Population Driving Demand for Neurology Devices: The growing geriatric population is creating substantial market opportunities for neurology devices. The National Statistical Office projected in February 2024 that individuals above 60 will constitute 13.1% of India’s population by 2031. For instance, in November 2023, Philips India responded by introducing specialized neurological screening packages for senior citizens.
- Growing Adoption of Cutting-Edge Neurological Diagnostics: Enhanced diagnostic capabilities are driving the market expansion. The Indian Radiological and Imaging Association reported in April 2024 a 19.3% increase in advanced neurological diagnostic procedures nationwide. For instance, in January 2024, Wipro GE Healthcare launched next-generation neuroimaging solutions targeting this diagnostic trend.
- Boosting Accessibility through Digital Health Initiatives in Neurology: Digital health initiatives are propelling the neurology device market growth. The Ministry of Electronics and Information Technology announced in February 2024 a national teleneurology program, covering 75% of districts. For instance, in December 2023, Siemens Healthcare introduced comprehensive digital neurology platforms.
- Rising Investments in Neurological Research and Development: Increasing research and development investments are boosting market potential. The Department of Biotechnology reported in March 2024 a 26.8% increase in neuroscience research funding. For instance, in September 2023, Medtronic India unveiled a new neurotechnology research center in Bangalore signaling a significant commitment to innovation.
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India Neurology Devices Market Regional Analysis
Here is a more detailed regional analysis of the India neurology devices market:
- Maharashtra is dominating the India neurology devices market, due to its advanced healthcare infrastructure and growing medical technology industry. According to a 2024 report by the Indian Ministry of Health, Maharashtra accounts for approximately 15% of the country’s total healthcare spending, making it a leading region for medical device adoption, including neurology devices. This state’s substantial investment in healthcare infrastructure continues to attract major global players like Medtronic, which opened a new facility in Pune in January 2024, aimed at advancing neurology device manufacturing.
- Karnataka is witnessing significant growth in the India neurology devices market, driven by technological advancements and the state’s expanding healthcare infrastructure. According to the India Brand Equity Foundation (IBEF), Karnataka’s medical technology sector is projected to grow at a robust pace, with Bengaluru positioning itself as a key hub for healthcare innovation. This is also supported by recent efforts to increase collaboration between healthcare providers and MedTech companies to improve access to advanced treatments.
India Neurology Devices Market: Segmentation Analysis
The India Neurology Devices Market is segmented based on Product Type, Distribution Channel, Application, and End-User.
Neurology Devices Market, By Product Type
- Neurostimulation Devices
- Deep brain stimulators (DBS)
- Spinal cord stimulators (SCS)
- Transcranial magnetic stimulators (TMS)
- Neurodiagnostic Devices
- Electroencephalography (EEG)
- Electromyography (EMG)
- Cerebrospinal Fluid (CSF) Management Devices
- Brain Monitoring Devices
Based on Product Type, the India Neurology Devices Market is bifurcated into Neurostimulation Devices, Neurodiagnostic Devices, Cerebrospinal Fluid (CSF) Management Devices, and Brain Monitoring Devices. The neurodiagnostic devices segment is dominating the India neurology devices market. Devices such as EEG, EMG, and evoked potential systems are widely utilized for diagnosing various neurological disorders. However, the neurostimulation devices segment is experiencing rapid growth, driven by the increasing prevalence of neurological conditions like Parkinson’s disease, epilepsy, and chronic pain.
Neurology Devices Market, By Distribution Channel
- Direct Sales
- Third-Party Distributors
- Other Distribution Channels
Based on the Distribution Channel, the India Neurology Devices Market is bifurcated into Direct Sales, Third-Party Distributors, and Other Distribution Channels. The third-party distributors’ segment is dominating the India neurology devices market, due to their extensive distribution networks, established relationships with healthcare providers, and deep understanding of regional market dynamics. However, the direct sales segment is experiencing rapid growth. This channel offers manufacturers greater control over the sales process, ensuring optimal product positioning, technical support, and adherence to regulatory standards.
Neurology Devices Market, By Application
- Epilepsy
- Parkinson’s Disease
- Traumatic Brain Injury (TBI)
- Alzheimer’s Disease and Dementia
- Others
Based on Application, the India Neurology Devices Market is bifurcated into Epilepsy, Parkinson’s Disease, Traumatic Brain Injury (TBI), Alzheimer’s Disease and Dementia, and Others. The epilepsy segment is dominating the India neurology devices market, due to its high prevalence and significant unmet need for effective treatment and monitoring solutions. However, the Alzheimer’s disease and dementia segment is experiencing rapid growth, driven by the aging population, rising healthcare expenditure, and increased awareness of early diagnosis and treatment.
Neurology Devices Market, By End-User
- Hospitals
- Neurology Clinics
- Ambulatory Surgery Centers (ASCs)
- Others
Based on End-User, the India Neurology Devices Market is bifurcated into Hospitals, Neurology Clinics, Ambulatory Surgery Centers (ASCs), and Others. The hospitals segment is dominating the India neurology devices market, due to their comprehensive infrastructure, specialized expertise, and capacity to handle complex neurological cases. However, the ambulatory surgery centers (ASCs) segment is experiencing rapid growth, driven by the increasing prevalence of minimally invasive procedures, coupled with government initiatives promoting outpatient care.
Key Players
The “India Neurology Devices Market” study report will provide valuable insight with an emphasis on the India market. The major players in the market are B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC and Nihon Kohden Corporation, among others.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.
India Neurology Devices Market Key Developments
- In February 2022, Medtronic Private Limited, a fully owned subsidiary of Medtronic PLC, successfully performed the first clinical procedure in India using the Intellis Spinal Cord Stimulation (SCS) system. This device, recognized as the world’s smallest spinal cord stimulator, is designed to manage specific chronic intractable pain conditions.
- ? In June 2022, Medtronic PLC introduced the Pipeline Vantage with Shield Technology, a fourth-generation flow diverter designed for the endovascular treatment of brain aneurysms. This new device features enhanced design improvements, including advancements to both the delivery system and the implant itself.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value in USD Million |
| KEY COMPANIES PROFILED | B. Braun Melsungen AG, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC and Nihon Kohden Corporation, among others. |
| SEGMENTS COVERED | By Product Type, By Distribution Channel, By Application, By End-User. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. India Neurology Devices Market, By Product Type
• Neurostimulation Devices
• Neurodiagnostic Devices
• Cerebrospinal Fluid (CSF) Management Devices
• Brain Monitoring Devices
5. India Neurology Devices Market, By Distribution Channel
• Direct Sales
• Third-Party Distributors
• Other Distribution Channels
6. India Neurology Devices Market, By Application
• Epilepsy
• Parkinson’s Disease
• Traumatic Brain Injury (TBI)
• Alzheimer’s Disease and Dementia
• Others
7. India Neurology Devices Market, By End-User
• Hospitals
• Neurology Clinics
• Ambulatory Surgery Centers (ASCs)
• Others
8. Regional Analysis
• India
9. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
10. Competitive Landscape
• Key Players
• Market Share Analysis
11. Company Profiles
• B. Braun Melsungen AG
• Boston Scientific Corporation
• Stryker Corporation
• Medtronic PLC
• Nihon Kohden Corporation
12. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
13. Appendix
• List of Abbreviations
• Sources and References
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Data Collection Matrix
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Econometrics and data visualization model
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Industry Analysis Matrix
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