What Are The 5 Takeaways From The Brain Mapping Instruments Market Overview 2024
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The brain mapping instruments market size has grown strongly in recent years, increasing from $2.13 billion in 2023 to $2.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. This growth is attributed to the rising prevalence of neurological disorders, increased demand for real-time brain monitoring, growth in clinical trials, expansion of brain mapping in psychiatry, and the development of telemedicine. The market is expected to continue growing, reaching $2.99 billion by 2028 at a CAGR of 7.0%. The forecasted growth is driven by increasing demand for advanced neuroimaging techniques, growing investments in neuroscience research, greater adoption of non-invasive brain mapping technologies, a rising number of clinical trials, and increasing demand for brain mapping in educational and cognitive development studies. Key trends in the forecast period include technological advancements, integration of virtual reality, personalized medicine, non-invasive brain mapping techniques, and the use of cloud computing.
An increase in the prevalence of neurological disorders is expected to propel the growth of the brain mapping instrument market going forward. Neurological disorders are conditions affecting the brain, spinal cord, and nerves, leading to symptoms such as movement issues, cognitive decline, and sensory problems, examples including Alzheimer’s, Parkinson’s, epilepsy, multiple sclerosis, and stroke. The increasing prevalence of these disorders is due to population aging, urbanization, lifestyle changes, improved diagnostic capabilities, and environmental and infectious risk factors. Brain mapping instruments are essential in clinical practice and research, enabling deeper insights into neurological disorders and guiding personalized treatment strategies. For instance, in March 2021, according to the National Institutes of Health (NIH), a US-based government agency, 6.2 million Americans were living with Alzheimer’s dementia, and this number is projected to increase to 13.8 million by 2060. Therefore, the increase in the prevalence of neurological disorders drives the growth of the brain mapping instrument market.
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What Are The Key Trends That Influence Brain Mapping Instruments Market Share Analysis?
Major companies operating in the brain mapping instrument market are focusing on developing innovative products, such as brain mapping devices, to enhance diagnostic accuracy and treatment efficacy in neurological disorders. Brain mapping devices refer to instruments used to visualize and analyze the structure and function of the brain. These devices employ various techniques such as magnetic resonance imaging (MRI), functional MRI (fMRI), electroencephalography (EEG), magnetoencephalography (MEG), and positron emission tomography (PET). For instance, in August 2022, IBS Hospital, an India-based hospital specializing in Neurology, launched Quicktome, the first brain mapping device. This innovative technology integrates advanced MRI and EEG capabilities with real-time functional imaging, offering unprecedented precision in visualizing brain structure and activity. Its key features include high-resolution imaging for detailed anatomical mapping, simultaneous EEG recording for comprehensive neural activity monitoring, and functional MRI for dynamic brain function analysis.
How Is The Global Brain Mapping Instruments Market Segmented?
1) By Product: Computed Axial Tomography (CAT); Positron Emission Tomography; Electroencephalography (EEG); Functional Near-Infrared Spectroscopy (fNIRS); Functional Magnetic Resonance Imaging (fMRI); Other Products
2) By Procedure: Devices For Invasive Procedures; Devices For Non-invasive Procedures
3) By End User: Hospitals; Ambulatory Centers
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The Brain Mapping Instruments Global Market Report 2024 provides an overview of the brain mapping instruments market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The brain mapping instruments market forecast analyzes brain mapping instruments market size, brain mapping instruments market share, leading competitor and their market positions.
The Table Of Content For The Brain Mapping Instruments Market Include:
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