Neuroscience Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Neuroscience Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global neuroscience market size reached US$ 33.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.

Neuroscience refers to the scientific study of the brain and nervous system. It is an interdisciplinary science that works closely with other disciplines, including cellular and molecular biology, physiology, anatomy, and human behavior and cognition. It provides valuable insights into the anatomy of the brain and neurological, physical, and psychological functioning. It also assists neurologists in understanding various factors that can aid in the development of medications and strategies to treat and prevent numerous neurological disorders. Nowadays, researchers and neuroscientists are increasingly employing advanced imaging techniques for identifying neural networks involved in understanding disease pathways, early disease diagnosis, and cognitive processes.

Neuroscience Market Trends:

The increasing number of deaths due to various neurological disorders, such as Parkinson's disease, Alzheimer's, schizophrenia, and other brain-related conditions, represents the primary factor driving the market growth. Besides this, the escalating demand for neuroimaging devices and the ongoing brain mapping research and investigation projects are other major growth-inducing factors. Additionally, the governments of various nations are taking favorable initiatives to spread awareness about neurological diseases and the available treatment options. Along with this, the rising usage of microscopy, optogenetics, magnetic resonance imaging (MRI), and electrophysiology instruments in the diagnosis of several neurological disorders is catalyzing the market growth. Furthermore, the leading players are developing innovative medical devices that offer enhanced efficiency and patient compliance to expand their product portfolio and gain a competitive edge. Moreover, the growing awareness regarding the benefits of advanced neuroscience devices, such as the combination of other imaging devices along with the MRI and neuro microscopes over conventional standalone imaging devices, is propelling the market growth. Other factors, including the surging government funding for research and development (R&D) activities, advancements in the field of neuroscience and neuro-technology, increasing healthcare expenditure, rising geriatric population, and improving healthcare infrastructure, are also providing a positive thrust to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global neuroscience market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, technology and end user.

Breakup by Component:

Instruments and Consumables
Software and Services
 

Breakup by Technology:

Brain Imaging
Neuro-Microscopy
Electrophysiology
Neuroproteomic Analysis
Animal Behaviour Analysis
Others
 

Breakup by End User:

Hospitals
Diagnostic Laboratories
Research and Academic Institutes
Others
 

Breakup by Region:

North America

United States
Canada


Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa
 

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alpha Omega Engineering, Biobserve GmbH, Blackrock Neurotech, Doric Lenses Inc., General Electric Company, Kernel, Laserglow Technologies, Mightex Systems, NeuroNexus Technologies Inc., Noldus Information Technology B.V., Plexon Inc., Prizmatix Ltd. and Siemens AG.

Key Questions Answered in This Report

1. What was the size of the global neuroscience market in 2022?
2. What is the expected growth rate of the global neuroscience market during 2023-2028?
3. What are the key factors driving the global neuroscience market?
4. What has been the impact of COVID-19 on the global neuroscience market?
5. What is the breakup of the global neuroscience market based on the component?
6. What is the breakup of the global neuroscience market based on the technology?
7. What are the key regions in the global neuroscience market?
8. Who are the key players/companies in the global neuroscience market?