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Neurodiagnostics Market (Technology Type - Neuroimaging, in Vitro Diagnosis, and Neuroinformatics; Disease Type - Migraine, Multiple Sclerosis, Alzheimer’s Disease, Parkinson’s Disease, Depression, and Other Diseases; End-user - Neurology Centers, Diagnostic Laboratories and Imaging Centers, Hospitals and Surgical Centers, Ambulatory Care Centers, and Research Laboratories): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : March, 2020

  • Rep Id : HC0834

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on neurodiagnostics market provides an in-depth analysis of segments and sub-segments in the global as well as regional neurodiagnostics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional neurodiagnostics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global neurodiagnostics market. According to the report, the global neurodiagnostics market is projected to grow at a CAGR of 8.3% over the forecast period of 2019-2025.

 

Market Insight

Neurodiagnostics monitors and records the electrical activities of the patient’s brain, peripheral nerves, and spinal cord. As per the World Health Organization, one in four people globally gets affected by a mental or neurological disorder. This stimulates the need for a diagnosis of common neurological disorders.

 

The rising prevalence of neurological diseases and disorders will augment the growth of the neurodiagnostic market. A study estimated that globally in 2016 neurological disorders were the leading cause of disability-adjusted life year that is around 276 million and the second leading cause of deaths that accounted for 9.0 million. The growing advancement in genomics and proteomics for the diagnosis of neurodegenerative disorders contribute to the expansion of the neurodiagnostic market. Further, the rising adoption of effective and early disease diagnosis led to a rise in demand for neurodiagnostic. Additionally, the prevalence of various diseases such as strokes, sleep disorders, narcolepsy, and multiple sclerosis boosts the demand for neurodiagnostic. A study estimated that there are around 44 million people globally having Alzheimer’s disease. Parkinson’s is the second most common neurodegenerative disorder after Alzheimer’s disease among the aging population. As per a study around 7 to 10 million people globally have Parkinson’s disease. The prevalence of this disease ranges from 41 people per 100000 in the fourth decade of life to more than 1900 individuals per 100000 among those aged 80 and above. Additionally, dementia is also one of the prevailing neurological disorders. As per the World Health Organization, there are around 50 million people suffering from dementia and nearly 10 million new cases are generated every year. On the flip side, the high cost of neurodiagnostic devices hinders the growth of the neurodiagnostic market. Moreover, rising applications in clinical trials create numerous opportunities for the growth of the neurodiagnostic market.

 

Geographically, the global neurodiagnostic market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to have a premium share in the global neurodiagnostic market. The well-established healthcare infrastructure, the prevalence of neurological disorders, and the growing adoption of advanced neurodiagnostic tools in North America contribute to the expansion of the neurodiagnostic market in North America. A study estimated that in the United States around 5.5 million people have Alzheimer’s disease. Asia-Pacific region is expected to grow with the fastest CAGR in the global neurodiagnostic market over the forecast period. The rising patient pool and a surge in healthcare expenditure in the region will augment the growth of the neurodiagnostic market in Asia-Pacific. Europe has fruitful growth opportunities in the global neurodiagnostic market due to the growing healthcare industry in the region.

 

Segment Covered

The report on global neurodiagnostics market covers segments such as technology type, disease type, and end-user. On the basis of technology type, the sub-markets include neuroimaging, in vitro diagnosis, and neuroinformatics. On the basis of disease type, the sub-markets include migraine, multiple sclerosis, alzheimer’s disease, parkinson’s disease, depression, and other diseases. On the basis of end-user, the sub-markets include neurology centers, diagnostic laboratories and imaging centers, hospitals and surgical centers, ambulatory care centers, and research laboratories.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Ridge Diagnostics, Inc., Zynex NeuroDiagnostics, Inc., Digital NeuroDiagnostics, LLC, NeuroDiagnostics Devices Inc., Lifelines Neurodiagnostics Systems Inc., GE Healthcare, Siemens Healthineers AG, Canon, Inc., F. Hoffmann-La Roche AG, Mitsar Co., Ltd., and Other companies.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of neurodiagnostics market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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