Neurodiagnostics

Neurodiagnostics

Global Neurodiagnostics Market to Reach US$13.7 Billion by 2030

The global market for Neurodiagnostics estimated at US$8.8 Billion in the year 2023, is expected to reach US$13.7 Billion by 2030, growing at a CAGR of 6.4% over the analysis period 2023-2030. Diagnostic Imaging Systems, one of the segments analyzed in the report, is expected to record a 6.7% CAGR and reach US$9.0 Billion by the end of the analysis period. Growth in the In-vitro Diagnostics (IVD) segment is estimated at 5.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.3 Billion While China is Forecast to Grow at 9.6% CAGR

The Neurodiagnostics market in the U.S. is estimated at US$2.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2030 trailing a CAGR of 9.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.5% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

Global Neurodiagnostics Market - Key Trends and Drivers Summarized

How Is Neurodiagnostics Revolutionizing Neurological Disorder Detection?

Neurodiagnostics encompasses a range of technologies and tests used to diagnose disorders of the brain, nerves, and spinal cord. It includes techniques such as electroencephalography (EEG), magnetic resonance imaging (MRI), computed tomography (CT) scans, and nerve conduction studies, among others. These diagnostic tools enable healthcare professionals to identify conditions such as epilepsy, Alzheimer’s disease, Parkinson’s disease, stroke, and multiple sclerosis. As neurological disorders become more prevalent worldwide, the demand for advanced neurodiagnostic tools has grown significantly. The shift toward non-invasive diagnostic techniques has further propelled the adoption of neurodiagnostics in both clinical and research settings.

What Are The Key Segments in the Neurodiagnostics Market?

Major types include imaging modalities (MRI, CT scans), electrophysiology (EEG, EMG), and in vitro diagnostics (biomarkers, genetic testing). Imaging modalities hold a significant share due to their ability to provide detailed structural and functional insights into the nervous system. Applications of neurodiagnostics include disease diagnosis, treatment monitoring, and research. Key end-users include hospitals, diagnostic centers, neurology clinics, and research institutions, all of which rely on neurodiagnostics for accurate diagnosis and treatment planning.

How Is Neurodiagnostics Being Integrated Across Healthcare Systems?

Hospitals are major users of neurodiagnostic tools, employing them for both emergency and routine neurological assessments. Diagnostic centers offer specialized neurodiagnostic services for outpatient care, while neurology clinics use these tools for long-term monitoring of conditions like epilepsy and Parkinson’s disease. Research institutions utilize neurodiagnostics to study the etiology and progression of neurological disorders, contributing to new treatments and therapies. Additionally, telemedicine platforms are beginning to integrate neurodiagnostics for remote consultations, making diagnostic services more accessible, especially in underserved regions.

What Factors Are Driving the Growth in the Neurodiagnostics Market?

The growth in the neurodiagnostics market is driven by several factors, including the increasing prevalence of neurological disorders, which necessitates advanced diagnostic tools for early detection and effective management. Technological advancements in imaging and electrophysiology have improved diagnostic accuracy, making these tools indispensable in clinical practice. The rise of personalized medicine and targeted therapies has also boosted the demand for neurodiagnostics, as they provide crucial insights into disease pathology. Government initiatives to enhance healthcare infrastructure and increase funding for neurological research are further contributing to market growth. Additionally, the expansion of telehealth services has increased the demand for portable and accessible neurodiagnostic tools.

Select Competitors (Total 33 Featured) -

• Advanced Brain Monitoring
• ANT Neuro
• Bio-Rad Laboratories
• Canon, Inc.
• DRG Instruments GmbH
• Elmiko Medical Sp. Z o.o.
• Fonar Corporation
• Fujifilm Holdings Corporation
• Fujirebio
• GE Healthcare
• Hitachi, Ltd.
• Hoffman-La Roche AG
• Lifelines Neuro Company, LLC
• Mitsar Co., Ltd.
• Motion Lab Systems, Inc.
• Natus Medical Incorporated
• Neusoft Medical Systems Co., Ltd.
• Nihon Kohden Corporation
• Philips Healthcare
• Qiagen N.V.
• Ridge Diagnostics
• Rigaku Corporation
• Siemens Healthineers
• Tecan Trading AG
• Thermo Fisher Scientific, Inc.

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