Exploring Key Insights of the Neurological Disorder Diagnostics Market: Growth Prospects, Emerging Trends, and Opportunities
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What fueled the previous growth in the neurological disorder diagnostics market?
The neurological disorder diagnostics market has witnessed strong growth, projected to increase from $11.75 billion in 2024 to $12.61 billion in 2025, with a CAGR of 7.3%. Key factors include the increasing prevalence of neurological conditions, an aging population, greater emphasis on early diagnosis, and heightened awareness of neurological disorders.
What will be the neurological disorder diagnostics market size in the future?
The neurological disorder diagnostics market is projected to grow significantly, reaching $16.6 billion by 2029 with a CAGR of 7.1%. Growth drivers include increasing awareness, rising healthcare expenditure, improved access to medical services, expansion of diagnostic centers, and greater adoption of personalized medicine. Key trends involve advancements in neuroimaging, wearable and remote monitoring technologies, biomarker discovery, genetic testing, AI and machine learning integration, and point-of-care diagnostic developments.
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What main drivers are fueling expansion in the neurological disorder diagnostics market?
The rising prevalence of Alzheimer’s disease is anticipated to drive the neurological disorder diagnostics market. Alzheimer’s disease, a progressive neurodegenerative disorder, leads to cognitive decline, memory loss, and difficulty with reasoning. Factors like genetics, amyloid plaque buildup, chronic inflammation, and lifestyle contribute to its rise. Neurological disorder diagnostics enable early detection through advanced imaging, biomarkers, and cognitive tests. In September 2024, the Australian Institute of Health and Welfare reported that approximately 411,100 individuals in Australia were living with dementia in 2023. This growing prevalence of Alzheimer’s disease will drive the neurological disorder diagnostics market.
What key areas define the segmentation of the global neurological disorder diagnostics market?
The neurological disorder diagnosticsmarket covered in this report is segmented –
1) By Component: Instruments, Reagents, Kits, Software, Services
2) By Technology: Immunoassay, Polymerase Chain Reaction (PCR) 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
Subsegments:
1) By Instruments: Electroencephalography (EEG) Machines, Magnetic Resonance Imaging (MRI) Machines, Computed Tomography (CT) Scanners, Positron Emission Tomography (PET) Scanners, Lumbar Puncture Equipment, Ultrasound Devices, Neurostimulation Devices, Transcranial Magnetic Stimulation (TMS) Devices,
2) By Reagents: Biochemical Reagents, Antibodies, DNA Probes, RNA Probes, Enzyme-linked Immunosorbent Assay (ELISA) Reagents, Polymerase Chain Reaction (PCR) Reagents, Sample Collection Reagents
3) By Kits: Diagnostic Test Kits, Genetic Testing Kits, Biomarker Detection Kits, Immunoassay Kits, Point-of-Care Testing Kits, Screening Kits for Neurological Disorders
4) By Software: Diagnostic Software for Imaging Analysis, Data Management Software, Clinical Decision Support Software, Patient Management Software, Laboratory Information Management Systems (LIMS), Neuroinformatics Software, Telemedicine Software
5) By Services: Diagnostic Testing Services, Consultation Services, Training and Support Services, Maintenance and Repair Services for Equipment, Telehealth Services, Data Analysis Services, Research and Development Services
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Who are the dominant players expanding their reach in the neurological disorder diagnostics market?
Major companies operating in the neurological disorder diagnostics market are Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Novartis AG, Medtronic plc, Amgen Inc., Siemens Healthineers AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Otsuka Pharmaceutical Co. Ltd., Boston Scientific Corporation, Neurocrine Biosciences Inc., Neusoft Medical Systems Co. Ltd., Nihon Kohden Corporation, Natus Medical Incorporated, Esaote S.p.A, Canon Medical Systems Corporation, NeuroPace Inc., Lifelines Neuro Company LLC, York Instruments Ltd., Advanced Brain Monitoring Inc., Neurometrix Inc., Croton Healthcare Private Limited, NeuroLogica Corporation
How are evolving market trends shaping neurological disorder diagnostics Strategies?
Leading firms in the neurological disorder diagnostics market are concentrating on the creation of innovative solutions, such as neurological disease quantification software, to assist the one billion people globally affected by neurological disorders. This type of software serves as an instrumental tool in recording and assessing the brain’s function and progression of neurological conditions. For example, in January 2024, Quibim, a biotechnology firm based in Spain, unveiled QP-Brain, a software utilizing artificial intelligence in the early diagnosis of neurological diseases. Quibim’s QP-Brain is an advanced neuroimaging analysis software that is designed to quantify alterations in brain tissue in the context of neurological disorders. It comes with distinct features such as AI-driven automatic segmentation and comprehensive volumetric analysis, providing accurate insight into changes in the brain’s structure for clinical and research-based uses.
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Which regions are emerging as leaders in the neurological disorder diagnostics market?
North America was the largest region in the neurological disorder diagnostics market in 2024. The regions covered in the neurological disorder diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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