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What is the Expected Growth Rate of the Neurological Disorder Diagnostics Market for the Period 2024 to 2033?

There has been a robust expansion in the size of the market for diagnosing neurological disorders in recent years. From 2023 to 2024, the market is set to rise from $10.98 billion to $11.75 billion, marking a compound annual growth rate (CAGR) of 7%. The surge in growth during the historical period can be traced back to various factors. These include a rising incidence of neurological disorders, an aging population, a heightened focus on early detection and management of diseases, increased awareness about neurological disorders, and a growing emphasis on early diagnosis.

The market size of neurological disorder diagnostics is projected to experience robust growth in the forthcoming years. It is anticipated to reach $15.51 billion by 2028, growing at a compound annual growth rate (CAGR) of 7.2%. Factors fuelling the growth during the forecast period include escalating awareness and education, rising healthcare expenditure, enhanced accessibility to healthcare services, growth of diagnostic centers, and the increasing preference for personalized medicine. The forecast period is predicted to witness trends like progress in neuroimaging techniques, the rise in the use of wearable devices and remote monitoring technologies, advancements in the discovery of biomarkers and genetic testing, the integration of artificial intelligence and machine learning, and the creation of point-of-care diagnostic instruments.

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What Factors Are Responsible for the Growth of the neurological disorder diagnostics Market?

The surge in Alzheimer’s disease cases is predicted to boost the progress of the neurological disorder diagnostics market in the future. Alzheimer’s disease, a progressing neurodegenerative disorder, is associated with a gradual reduction in cognitive abilities like memory, reasoning, and problem-solving skills. This disease encompasses genetic factors like specific gene mutations and variations, chronic inflammation, vascular complications, the accumulation of amyloid plaques and tau tangles in the brain, and lifestyle factors. Neurological disorder diagnostics assist in managing Alzheimer’s disease by facilitating early and precise detection facilitated via sophisticated imaging techniques, biomarker evaluation, and cognitive assessments. For example, the Australian Institute of Health and Welfare, a government agency based in Australia, reported in September 2024 that roughly 411,100 individuals in Australia had dementia in 2023, which includes approximately 257,500 women and 153,700 men. Consequently, the escalating frequency of Alzheimer’s disease is stimulating the expansion of the neurological disorder diagnostics market.

Which Segments Are Important for Insight into the Neurological Disorder Diagnostics Market?

1) By Component: Instruments, Reagents, Kits, Software, Services

2) By Technology: Immunoassay, Polymerase Chain Reaction (PCR1) Techniques

3) By Disease Type: Alzheimer’s Disease, Dementia, Parkinson’s Disease, Epilepsy, Traumatic Brain Injury, Other Disease Types

4) By End User: Hospitals And Clinics, Diagnostic Centers, Academic And Research Institutes

What Are the Significant Trends Reshaping the Neurological Disorder Diagnostics Sector?

Leading businesses in the neurological disorder diagnostics market are concentrating on creating novel solutions such as neurological disease quantification software, which can impact the one billion people globally who are battling neurological diseases. This software functions as a key instrument in tracking and assessing brain activity and progression of neurological conditions. Quibim, a biotech firm from Spain, announced the introduction of the QP-Brain, a software using artificial intelligence for early-stage neurological disease quantification, in January 2024. Quibim’s QP-Brain application is a sophisticated neuroimaging analysis tool purposed to gauge the brain tissue changes in neurological disorders. It stands out with its AI-facilitated automatic segmentation and comprehensive volumetric analysis, providing precise information about shifts in brain structures for clinical and research uses.

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Which Regions Are Essential for the Growth of the Neurological Disorder Diagnostics Market?

North America was the largest region in the neurological disorder diagnostics market in 2023. The regions covered in the neurological disorder diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Neurological Disorder Diagnostics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the neurological disorder diagnostics market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Neurological Disorder Diagnostics Market Include

1. Neurological Disorder Diagnostics Market Executive Summary

2. Neurological Disorder Diagnostics Market Segments

3. Neurological Disorder Diagnostics Market Size And Template Market Growth Rate

4. Key Neurological Disorder Diagnostics Market Trends

5. Major Neurological Disorder Diagnostics Market Drivers

……

25. Key Mergers And Acquisitions In The Neurological Disorder Diagnostics Market

26. Top Neurological Disorder Diagnostics Companies

27. Neurological Disorder Diagnostics Market Opportunities And Strategies

28. Neurological Disorder Diagnostics Market, Conclusions And Recommendations

29. Appendix

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