Neurodiagnostics involves the diagnosis of neurological disorders and includes various technologies such as imaging, neuroelectrophysiology, neurobiological, and biomarkers. Neurodiagnostics provide non-invasive diagnosis of disorders through imaging technologies such as MRI and CT scans. They help identify conditions such as tumors, strokes, spinal cord injuries, and epilepsy. Increasing prevalence of neurological disorders such as Alzheimer’s, Parkinson’s, epilepsy, and brain aneurysms is driving demand for neurodiagnostic procedures.
The Global Neurodiagnostics Market is estimated to be valued at US$ 14.91 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Neurodiagnostics are Koninklijke Philips N.V, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, FUJIFILM Holdings Corporation, Bio-Rad Laboratories Inc., Advanced Brain Monitoring, Inc., Nihon Kohden Corporation, Mitsar Co. LTD., EMS Biomedical, Mennen Medical, Natus Medical Incorporated, Medicaid Systems, Fujirebio, FONAR Corp, ANT Neuro, NEUROLITE AG, and Atlantic Health System.
The key opportunities in the Neurodiagnostics Market Demand are increasing research and development activities to develop advanced neurodiagnostic technologies and rising investment and funding from government and private organizations for commercialization of neurodiagnostic devices.
The Asia Pacific region is poised to be the fastest growing market during the forecast period. This is attributed to factors such as rising healthcare spending, increasing disposable incomes, growing incidence of neurological disorders due to lifestyle changes and aging population. China and India are emerging as opportunistic markets with huge patient bases. Improvements in the medical devices regulatory systems and availability of skilled technicians will further support the neurodiagnostics market growth in Asia Pacific.
The neurodiagnostics market involves detecting or diagnosing neurological disorders through various techniques such as imaging, testing, neuroendoscopy, and others. Neurological disorders like epilepsy, Alzheimer's disease, Parkinson's disease, stroke, multiple sclerosis, and migraine affect millions of people worldwide and their incidence is rising owing to growing aging population and risk factors such as stress, lifestyle changes, and environmental pollutants.
Neurodiagnostics help in analyzing the nervous system function, structure, biochemistry, and related molecular mechanisms to identify and track neurological conditions accurately. Some key advantages of neurodiagnostics include early and precise disease diagnosis, pinpointing abnormal brain regions, monitoring disease progression and treatment outcomes, and enabling objective diagnosis to rule out subjective symptoms. The need for neurodiagnostics is growing owing to increasing neurological patient population requiring timely diagnosis and care.
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