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How has the neurodiagnostics market size evolved in recent years?

The market size for neurodiagnostics has seen a significant enlargement in the past few years. Its growth is projected to increase from $9.17 billion in 2024 to $9.82 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.1%. The expansion during the historical period can be traced back to the escalating prevalence of neurological conditions, enhanced adoption of cutting-edge imaging technologies, increase in the elderly population, heightened awareness of early disease detection, growth in healthcare facilities, and a surge in funding for neuroscience research and development.

What are the predictions for the neurodiagnostics market size in the coming years?

The neurodiagnostics sector is projected to experience significant expansion in the coming years, reaching a market value of $12.79 billion by 2029, with a steady compound annual growth rate of 6.8%. This anticipated growth is attributed to various factors including the rising demand for non-invasive diagnostic methods, an increasing rate of neurological disorders, amplified government spending on healthcare facilities, heightened understanding and preemptive detection initiatives, along with the proliferation of personalized medicine. Some emerging trends through this period include the creation of portable EEG devices, the incorporation of artificial intelligence to improve diagnostic precision, the development of superior MRI technology for brain imaging, the utilization of wearable technology for uninterrupted monitoring, progress in neurogenetic testing, and the increased use of real-time data analytics for individualised treatment schedules.

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What key factors are fueling the growth of the neurodiagnostics market?

The continued escalation of neurological diseases is anticipated to propel the expansion of the neurodiagnostics market. Neurological diseases, which negatively impact the brain, spinal cord, and nerves, result in diverse cognitive, motor and sensory disabilities. The aging populace, environmental influences, lifestyle modifications, genetic predispositions, and improved diagnostic methodologies are primary contributors to the surge in neurological diseases. Neurodiagnostics play a crucial role in accurately pinpointing, assessing, and tracking neurological diseases, thereby facilitating precise diagnoses, well-informed treatment choices, and efficient management of afflictions involving the brain, spinal cord, and nerves. For instance, data from the US-based National Library of Medicine, which provides medical research information, noted that 6.7 million Americans were affected by Alzheimer’s in April 2023, a figure projected to escalate to 13.8 million by 2060. Thus, the escalating prevalence of neurological diseases is fueling the growth of the neurodiagnostics market.

How is the global neurodiagnostics market divided into key segments?

The neurodiagnostics market covered in this report is segmented –

1) By Type: Diagnostic And Imaging Solutions, In-Vitro Diagnostics

2) By Technology: Neuroimaging Technologies, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Nuclear Medicine Imaging (PET, SPECT), Near Infrared Spectroscopic Imaging (NIRS), Electro-Encephalography (EEG), Magneto-Encephalography (MEG), Voxel Based Morphometry (VBM), Neuroinformatics

3) By Condition: Epilepsy, Alzheimer’s Disease, Parkinson’s Disease, Stroke, Joint Health, Other Conditions

4) By End Use : Hospitals And Clinics, Diagnostic Laboratories, Imaging Centers, Other End Uses

Subsegments:

1) By Diagnostic And Imaging Solutions: MRI (Magnetic Resonance Imaging) Systems, CT (Computed Tomography) Scanners, EEG (Electroencephalogram) Systems, EMG (Electromyography) Systems, MEG (Magnetoencephalography) Systems, PET (Positron Emission Tomography) Scanners, SPECT (Single Photon Emission Computed Tomography) Scanners, Functional MRI (fMRI) Systems, Intracranial Pressure Monitors

2) By In-Vitro Diagnostics: Blood-Based Diagnostics, Cerebrospinal Fluid (Csf) Analysis, Genetic Testing And Biomarkers, Neurochemical Diagnostics, Point-Of-Care Neurodiagnostics, Diagnostic Kits For Neurodegenerative Disorders

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Who are the key firms paving the way for growth in the neurodiagnostics market?

Major companies operating in the neurodiagnostics market are Nihon Kohden Corporation, Cephalon LLC, Stratus Neuro LLC, Cadwell Industries Inc., Compumedics Limited, Ceribell Inc., CND Life Sciences Inc., Lifelines Neuro Inc., ANT Neuro B.V., Neurovative Diagnostics LLC, Firefly Neuroscience Inc, IntraNerve Neuroscience Inc, NeuroDiagnostics Laboratories LLC, Advanced Brain Monitoring Inc, Spes Medica S.r.l., BioSignal Group Inc, Combinostics Inc., Deymed Diagnostic LLC, NeuLine Health Inc., Ridge Diagnostics Inc., Beacon Biosignals Inc., Intch Inc.

What are the key trends shaping the future of the neurodiagnostics market?

Major companies operating in the neurodiagnostics market are focusing on technological advancements such as an advanced software algorithm to enhance diagnostic accuracy and improve patient outcomes. An advanced software algorithm refers to a sophisticated set of instructions that processes and analyzes data using techniques such as artificial intelligence (AI) or machine learning to enhance decision-making and diagnostics. For instance, in October 2023, Ceribell Inc., a US-based medical equipment manufacturing company, launched the ClarityPro AI algorithm, marking a significant advancement in diagnosing electrographic status epilepticus (ESE). This state-of-the-art software, integrated into the Ceribell EEG system, leverages machine learning to analyze EEG waveforms and deliver real-time alerts for suspected seizures. Notably, ClarityPro is the first acute care device to receive FDA clearance for standalone diagnosis. This innovative technology is designed to improve clinical decision-making by continuously monitoring brain activity, offering actionable insights, and enabling faster and more effective treatment responses.

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What regions are contributing significantly to the growth of the neurodiagnostics market?

North America was the largest region in the neurodiagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurodiagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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