Neurodiagnostics Market Set to Surge to $12.89 Billion by 2030 at a 7% CAGR

In 2020, the global neurodiagnostics market was valued at $6,530 million and is projected to reach $12,899 million by 2030, registering a CAGR of 7.0%.

WILMINGTON, DE, UNITED STATES, February 11, 2025 /EINPresswire.com/ -- The neurodiagnostics market is experiencing significant growth, driven by the increasing prevalence of neurological disorders, technological advancements, and a rising emphasis on early disease diagnosis. In 2020, the global neurodiagnostics market was valued at $6,530 million and is projected to reach $12,899 million by 2030, registering a CAGR of 7.0% from 2021 to 2030.

Neurodiagnostics involves the use of various devices and techniques to diagnose disorders affecting the brain, spinal cord, and peripheral nerves. Common neurological disorders such as stroke, migraine, epilepsy, and Parkinson’s disease can be diagnosed using neurodiagnostic tools. These tools include diagnostic and imaging systems like CT scanners, MRI scanners, and PET scanners, as well as in-vitro diagnostics (IVDs).

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Neurodiagnostics Market Growth Factors
Several factors contribute to the growth of the neurodiagnostics market:
1. Increasing Prevalence of Neurological Disorders: There is a rising incidence of neurological conditions globally, including stroke, migraine, epilepsy, and Parkinson’s disease. This increase necessitates advanced diagnostic tools for effective management.
2. Technological Advancements: Continuous innovations in neurodiagnostic devices, such as the development of more sophisticated imaging systems and molecular diagnostics, enhance the accuracy and efficiency of diagnoses.
3. Growing Geriatric Population: The aging global population is more susceptible to neurological disorders, thereby increasing the demand for neurodiagnostic services.
4. Emphasis on Early Diagnosis: There is a heightened focus on early detection of neurological diseases, which can lead to better patient outcomes and more effective treatments.
5. Expansion of Healthcare Infrastructure: The rise in the number of hospitals and diagnostic centers equipped with advanced neurodiagnostic tools facilitates greater access to these services.

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Neurodiagnostics Market Segmentation
The neurodiagnostics market is segmented based on product type, condition, end user, and region.

1. By Product:
◦ Diagnostic & Imaging Systems:
▪ Electroencephalogram (EEG) Systems: Used to monitor electrical activity in the brain.
▪ Magnetic Resonance Imaging (MRI) Systems: Provide detailed images of brain structures.
▪ Ultrasound Imaging Systems: Utilized for real-time visualization of the nervous system.
▪ Computed Tomography (CT) Scanners: Offer cross-sectional imaging to detect anomalies.
▪ Others: Includes PET scanners and other specialized imaging tools.
◦ In-Vitro Diagnostics (IVDs):
▪ Molecular Diagnostics: Techniques used to analyze biological markers in the genome and proteome.
▪ Other IVDs: Various laboratory tests used to diagnose neurological conditions.

2. By Condition:
◦ Neurodegenerative Diseases: Includes conditions like Alzheimer's and Parkinson's disease.
◦ Epilepsy: A neurological disorder characterized by recurrent seizures.
◦ Stroke: Occurs when the blood supply to part of the brain is interrupted.
◦ Headache Disorders: Encompasses migraines and other severe headache conditions.
◦ Sleep Disorders: Includes conditions like sleep apnea and narcolepsy.
◦ Others: Various other neurological conditions requiring diagnosis.

3. By End User:
◦ Hospitals & Surgery Centers: Primary centers for comprehensive diagnostic and treatment services.
◦ Diagnostic Laboratories & Imaging Centers: Specialized facilities focusing on diagnostic services.
◦ Neurology Centers: Dedicated centers specializing in neurological care.
◦ Others: Includes research institutions and clinics.

4. By Region:
◦ North America: Leading the market due to advanced healthcare infrastructure and high adoption of innovative neurodiagnostic tools.
◦ Europe: Significant market share attributed to well-established healthcare systems and ongoing research.
◦ Asia-Pacific: Expected to experience the highest growth rate, driven by an increasing geriatric population and rising healthcare investments.
◦ LAMEA (Latin America, Middle East, and Africa): Emerging markets with growing healthcare infrastructure.

Key Players in the Neurodiagnostics Market
The neurodiagnostics market features several key players who contribute to its growth through innovation and strategic initiatives. Notable companies include:
• F. Hoffmann-La Roche Ltd
• General Electric Company
• Thermo Fisher Scientific, Inc.
• Lifelines Neuro Company, LLC
• Siemens AG
• FUJIFILM Holdings Corporation
• Bio-Rad Laboratories Inc.
• Canon, Inc.
• QIAGEN N.V.
• Philips Co.

These companies are at the forefront of developing and supplying advanced neurodiagnostic tools and technologies.

The neurodiagnostics market is poised for substantial growth, driven by factors such as the increasing prevalence of neurological disorders, technological advancements, and a growing emphasis on early diagnosis. With continuous innovation and expanding healthcare infrastructure, the market.

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