Neurodiagnostics refers to the diagnosis of neurological disorders through various imaging and monitoring techniques. It involves the evaluation of the central and peripheral nervous system for any abnormalities. The neurodiagnostics market has been witnessing significant growth over the past few years due to the rising incidence of neurological disorders such as Alzheimer's disease, Parkinson's disease, epilepsy, stroke, and various cancers affecting the nervous system. Advancements in neuroimaging technologies and development of novel biomarkers have enabled the early and accurate diagnosis of these conditions. Furthermore, the growing geriatric population who are more susceptible to neurological diseases, increasing healthcare expenditures, and availability of reimbursement are some of the key factors expected to drive the demand for neurodiagnostics in the coming years
Market Dynamics:
The global neurodiagnostics market is primarily driven by the rising prevalence of neurological disorders worldwide. According to the World Health Organization (WHO), over 1 billion people suffer from neurological disorders globally with neurological and mental disorders accounting for nearly 10% of the global disease burden. The market is also being propelled by the development of advanced neurodiagnostic technologies such as magnetic resonance imaging, ultrasound scanners, computed tomography scanners, and positron emission tomography (PET) scanners which provide high resolution images and aid accurate evaluation of neurological structures and functions. However, the market growth can be restrained by the high cost of innovative neurodiagnostic devices and procedures. On the positive side, growing healthcare investment in emerging nations presents lucrative opportunities for market players. Intensifying R&D in the fields of pharmacogenetics and personalized medicine also bodes well for the market expansion over the forecast period.
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