The size of the Interventional Neurology Market in Latin America was worth USD 290.07 million in 2022 and estimated to reach USD 438.18 million by the end of 2027, with a growing potential of 8.60%.
Interventional neurology is a medical specialty that includes medical imaging processing equipment to visualize the neck, head, and spine for therapeutic and diagnostic procedures. In addition, interventional neurology provides various treatment options, including substitutes to invasive procedures and treatment approaches for patients who would not have a choice without the skills of this type of medical specialist.
The growth of the Latin American interventional neurology market is expected to grow due to the rising prevalence of neurological disorders such as strokes, neuropathy, epilepsy, Alzheimer’s disease, and Parkinson’s disease among people, especially aging people are more prone to these diseases. Also, the increase in the technological advancements for developing advanced devices and effective treatment procedures are for diagnosing or treating these diseases; for instance, these doctors and physicians use modern, advanced radiological technological imaging and 3D technologies for treating and diagnosing the disease in the patients are uplifting the market growth.
Moreover, increase in the investments from government and non-government organizations in research and development activities. In addition, the increasing government focus on developing well-equipped, advanced medical and health care infrastructure with better reimbursement policies is further accelerating the growth of the Latin American interventional neurology market.
Furthermore, the growing awareness of neurological disorders among people and various treatments and medications available is predicted to favor the market. As well as an increase in the preferences towards invasive surgical procedures as they have fewer complications with less pain and faster recovery rates are further propelling the growth of the market.
However, the increase in the cost of treatment and interventional Neurology are the main reasons restraining the market growth. In addition, the lack of skilled and trained professionals for operating and maintaining devices is hindering the development of the Latin American interventional Neurology market. On the other hand, the strict government rules and regulations with stringent approval processes are hampering the market's growth. Also, the lack of disposable income among people affects the development of the Latin American interventional neurology market.
This research report on the Latin America interventional neurology market has been segmented and sub-segmented into the following categories.
By End User:
Based on the region, the Latin American interventional neurology market is anticipated to witness a promising share in the global market during the forecast period. Increasing focus towards favorable and proper reimbursement policies in the region, increasing the prevalence of neurological diseases among the people, and improving the healthcare sector is expected to encourage the market's growth rate during the forecast period. In addition, the growing geriatric population is influencing the market growth, the Neurological disorders or diseases are more prone to older people due to aging and medical problems as they have a weaker immune system which is driving the demand for Latin American interventional Neurology in the market.
Brazil and Argentina have been estimated to witness significant growth in the LATAM interventional neurology market. Increasing focus and investment in technological advancements and initiatives for growing awareness among the people about neurological disorders and rising patient preferences towards minimally invasive surgical procedures are attributing the market growth.
On the other hand, Chile and Mexico are more likely to witness a promising share in the Latin American interventional Neurology market. The market growth is projected to be driven by the increasing prevalence of neurological disorders, improving the healthcare sector, and supportive government policies.
KEY MARKET PLAYERS:
Companies playing a vital role in the Latin American Interventional Neurology Market are Stryker Corporation, Merit Medical Systems Inc., Medtronic plc, Terumo Corporation, Johnson & Johnson, Microport Scientific Corporation, Penumbra Inc., Abbott Laboratories, W. L. Gore & Associates Inc., and Medikit Co., Ltd.
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