The Global Neurodiagnostics Market is expected to witness a CAGR of 7.5% to reach revenue of $19.7 billion by 2025
Bangalore, India, February 5, 2019: With its recently published study “Global Neurodiagnostics Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the Global Neurodiagnostics Market will continue to grow due to the increase in the burden of neurological diseases globally, upsurge in the geriatric population, and increasing preference toward novel diagnostic technologies. The introduction of new products, recent product approvals, and technological advancements are anticipated to support the market growth during the forecast period.
The Global Neurodiagnostics Market, by technology type, is segmented into neuroimaging technologies, in-vitro diagnostics, and neuroinformatics. The neuroimaging technologies segment covers Computed Tomography (CT), Nuclear Medicine Imaging (NMI), Magnetic Resonance Imaging (MRI), Electroencephalography (EEG), Magnetoencephalography (MEG), Near Infrared Spectroscopic Imaging (NIRS), and Voxel-Based Morphometry. The Neuroimaging Technologies Segment occupied a significant Market share in 2018, and the Neuroinformatics Segment is anticipated to grow at a high CAGR during the forecast period. Increasing trade of neuronal instruments with integrated software for diagnostics and imaging purposes is propelling the demand for software in the market. Computed tomography and magnetic resonance imaging are the two key imaging modalities among various imaging technologies used to detect brain abnormalities.
The Global Neurodiagnostics Market, by region, is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America occupied a dominant market share in 2018, and Asia Pacific is expected to grow at a high CAGR during the forecast period. The highest percentage of the elderly population with a rising prevalence of neural diseases and availability of innovative technologies for effective diagnosis is driving the market growth in North America. Increased mental health awareness among patients, growing patient pool, and rising healthcare expenditure make Asia Pacific the fastest growing region during the forecast period.
“The Global Neurodiagnostics Market is growing steadily, and major companies in the market are concentrating on new product launches and approvals to strengthen their product portfolio and attain a major share in the market. For instance, in October 2018, NeuroDiagnostics, LLC, announced that it has received the US Food & Drug Administration approval for DISCERN multiple biomarker test for Alzheimer’s disease. Additionally, the increasing neurological disease population is likely to provide a better opportunity for neurodiagnostics products demand.” – Arpitha Shetty, Research Analyst, Infoholic Research
Key Insights of the Report Include:
- By Technology
- Neuroimaging Technologies
- Computed Tomography (CT)
- Nuclear Medicine Imaging (NMI)
- Magnetic Resonance Imaging (MRI)
- Electroencephalography (EEG)
- Magnetoencephalography (MEG)
- Near-infrared Spectroscopic Imaging (NIRS)
- Voxel-based Morphometry (VBM)
- In Vitro Diagnostics
- Neuroimaging Technologies
- By Regions
- North America
- Asia Pacific
- Rest of the World
- Industry outlook – Market trends, drivers, restraints, and opportunities
Ms. Sunanda Ganguli
Infoholic Research LLP