The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s neuroscience market report forecasts the neuroscience market size to grow to $41.86 Billion by 2027, with a CAGR (compound annual growth rate) of almost 6%.

Learn More On The Neuroscience Market Report 2023 – https://www.thebusinessresearchcompany.com/report/neuroscience-global-market-report

Neuroscience Market Size Forecast
The global neuroscience market is expected to grow from $31.38 billion in 2022 to $33.22 billion in 2023 at a compound annual growth rate (CAGR) of 5.88%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neuroscience market size is expected to grow to $41.86 billion in 2027 at a CAGR of 5.95%.

North America held the largest neuroscience market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Neuroscience Market Driver ­– Rise In The Geriatric Population
For instance, according to a 2020 report from the UN Department of Economic and Social Affairs, the population over the age of 65 is expected to increase from 9.3% in 2020 to almost 16.0% in 2050. According to a factsheet published by the World Health Organization in October 2021, there will also be 1.4 billion people over the age of 60 in the world by 2030, up from 1 billion in 2020. Thus, the rising geriatric population is driving the neuroscience market.

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Key Neuroscience Market Trend – Technological Advancement
Major market players are concentrating their efforts on creating innovative technologies such as artificial intelligence and machine learning to bring advancement in neuroscience. Artificial intelligence enables machines to mimic and even outperform human mental powers and machine learning is a part of artificial intelligence. Artificial intelligence (AI) models are built to carry out intelligence-based tasks that are offering new theories about how the same processes are regulated within the brain. For instance, in December 2021, Biogen Inc., a US-based biotechnology company collaborated with TheraPanacea to focus on multiple therapeutic areas in neuroscience. The collaboration was aimed at using machine learning (ML) and artificial intelligence (AI) analysis to create digital health solutions that could enhance patient care, hasten the development of new drugs, and deepen the understanding of the pathologies that underlie neurological illnesses. TheraPanacea is a France-based medical technology company specializing in artificial intelligence.

Neuroscience Market Segment
1) By Type: Neuro-Microscopy, Electrophysiology Technologies, Neuro-Cellular Manipulation, Whole Brain Imaging, Other Types
2) By Service: Instruments And Consumables, Software And Services
3) By End User: Hospitals, Diagnostic Labs, Research And Academic Institutes

Neuroscience Market Major Players and Strategies
Major players in the neuroscience market are Alpha Omega Inc., GE Healthcare, Siemens Healthineers, NeuroNexus Technologies Inc., Doric Lenses Inc., Blackrock Neurotech, Axion Biosystems Inc., Femtonics Ltd., Carl ZEISS AG, Danaher Corporation (Leica Microsystems), Koninklijke Philips N.V., Toshiba Corporation, Hitachi Medical Corp., Scientifica Ltd. and Intan Technologies.

In March 2022, Abbvie, a US-based biopharmaceutical company acquired Syndesi Therapeutics SA for an undisclosed amount. Through this acquisition, Abbvie aimed to strengthen its neuroscience portfolio with access to Syndesi’s portfolio of cutting-edge SV2A modulators, including its flagship drug SDI-118. Syndesi Therapeutics SA is a Belgium-based biotechnology company specializing in neurology drug discovery.

The Neuroscience Global Market Report 2023 covers regional data on neuroscience market size, neuroscience market trends and drivers, opportunities, strategies, and neuroscience market competitor analysis. The countries covered in the neuroscience market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa

Neuroscience is the study of the human nervous system and brain, which employ cellular, and molecular biology, anatomy and physiology, human behavior and cognition, and other fields to map the brain mechanistically. Neuroscience is used in developing drugs and other treatment and prevention methods for these and aids many other health problems.

View More Reports Related To The Neuroscience Market –
Neurology Devices Global Market Report 2023
Neurophysiology Devices And Equipment Global Market Report 2023
Neurostimulation Devices Global Market Report 2023

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