Neurodiagnostics Market Size, Share, Trends And Forecast To 2032

Neurodiagnostics Market Insights

According to the report published by Zion Market Research, the global Neurodiagnostics Market size was valued at USD 8.71 Billion in 2023 and is predicted to reach USD 16.28 Billion by the end of 2032. The market is expected to grow with a CAGR of 7.2% during the forecast period. The report analyzes the global Neurodiagnostics Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Neurodiagnostics industry.

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Global Neurodiagnostics Market: Overview

Neurodiagnostic devices are utilized in the diagnosis of neurological disorders. Various disorders like Parkinson’s disease, epilepsy, migraine, stroke are diagnosed with the help of neurodiagnostics. Neurodiagnostics contain a wide range of products including imaging and diagnostic systems and in-vitro diagnostics. The diagnostic and imaging system consists of various equipment like PET scanner, MRI scanner, and CT scanner. The neurodiagnostic products record and monitor the electrical activities of the spinal cord, brain, and peripheral nerves of the human body.

Global Neurodiagnostics Market: Growth Factors

Neuroimaging techniques help in studying and understanding the human brain and neural disorders. The ongoing technological advancements facilitate effective and non-invasive imaging results to offer a full view of the human brain along with its structure and functions in different regions. Each imaging technique is targeted at a particular area of the body. For example, MRI and CT techniques are used to find the developmental malformations of the human brain at the very initial stages.

MRI is vital in examining genetic metabolic disorders in children. Brain scanning is very important in the diagnosis of mental disorders like bipolar disorder, depression, anxiety and autism. The growing awareness among patients regarding the effective treatment on early diagnosis of diseases is likely to escalate the growth of the global neurodiagnostics market manifolds in the forthcoming years. The constantly increasing geriatric population globally poses a huge demand for neurodiagnostics.

Furthermore, the advancements in the field of proteomics and genomics along with the constantly growing number of diagnostic and hospital centers globally will also fuel the growth of the market. The government is taking several initiatives to lower the burden of rising neurological disorders on public hospitals owing to the fact that public health centers have limited facilities at disposal. Thereby, the governments of several regions are launching many favorable schemes and medical policies to assist private healthcare and diagnostic centers grow. The growing adoption of biological profiling for the diagnosis of several neurological diseases is likely to create several lucrative growth opportunities in the global neurodiagnostics market.

Neurological biomarkers are widely adopted for diagnosing such disorders in research settings. Biomarkers facilitate a whole new dynamic to study neuro disorders and their associated epidemiology in clinical trials. The innovation of biomarkers aims to diagnose neurological diseases at an early age. Neuroinformatics is a branch that integrates neuroscience with information technology. Neuroinformatics helps in achieving advanced integration of all the stats to effectively understand these disorders by gathering data in the form of a huge database. It primarily operates on brain-computer interface data, cognitive data, cellular data, and molecular data.

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Global Neurodiagnostics Market: Segmentation

The global neurodiagnostics market can be segmented into end-user, condition, product, and region.

By end-user, the market can be segmented into neurology centers, diagnostic laboratory & imaging centers, hospital & surgery centers, and others.

The diagnostic laboratory & imaging center segment accounts for the largest share in the global neurodiagnostics market due to the financial ability of diagnostic laboratories to purchase advanced equipment like neurodiagnostic devices to study and examine various disorders.

By condition, the market can be segmented into sleep disorders, headache disorders, stroke, epilepsy, neurodegenerative diseases, and others.

By product, the market can be segmented into in-vitro diagnostics and diagnostic & imaging systems.

The in-vitro diagnostics segment can further be bifurcated into molecular diagnostics and others.

The diagnostic & imaging system segment can further be bifurcated into computed tomography scanners, ultrasound imaging systems, magnetic resonance imaging systems, electroencephalogram systems, and others.

Neurodiagnostics Market: Report Scope

Global Neurodiagnostics Market: Regional analysis

North America accounts for the largest share in the global neurodiagnostics market due to the high prevalence of neurodegenerative diseases like epilepsy and Parkinson’s disease in the region. Furthermore, the ongoing technological advancements in the field of diagnostics are likely to further create several lucrative growth opportunities in the regional market. Also, the presence of prominent leaders offering advanced diagnostic devices will also fuel the growth of the regional market.

Asia Pacific is likely to be the fastest-growing region in the global neurodiagnostics market due to the growing number of diagnostic laboratories and research centers in the region. Growing disposable income of the people is encouraging them to adopt premium services and get advanced treatment for the neurological disorder is likely to further accentuate the growth of the regional market in the forthcoming years.

Global Neurodiagnostics Market: Competitive Players

Some of the significant players in the global neurodiagnostics market are

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

The Global Neurodiagnostics Market segments are as follows:

By end-user

• neurology centers
• diagnostic laboratory & imaging centers
• hospital & surgery centers
• others.

By condition

• sleep disorders
• headache disorders
• stroke
• epilepsy
• neurodegenerative diseases
• others.

By product

• in-vitro diagnostics
• diagnostic & imaging systems.

Global Neurodiagnostics Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.