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.
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 neurodiagnostics 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 neurodiagnostics market. Further, the rising
adoption of effective and early disease diagnosis led to a rise in demand for
neurodiagnostics. Additionally, the prevalence of various diseases such as
strokes, sleep disorders, narcolepsy, and multiple sclerosis boosts the demand
for neurodiagnostics. 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
neurodiagnostics devices hinders the growth of the neurodiagnostics market.
Moreover, rising applications in clinical trials create numerous opportunities
for the growth of the neurodiagnostics market.
Geographically, the global neurodiagnostics 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 neurodiagnostics market. The well-established healthcare infrastructure, the prevalence of
neurological disorders, and the growing adoption of advanced neurodiagnostics tools in North America contribute to the expansion of the neurodiagnostics 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 neurodiagnostics market over the
forecast period. The rising patient pool and a surge in healthcare expenditure
in the region will augment the growth of the neurodiagnostics market in
Asia-Pacific. Europe has fruitful growth opportunities in the global
neurodiagnostics market due to the growing healthcare industry in the region.
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.
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.
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.