The global Neurodiagnostics Market is anticipated to reach at USD 18.3 billion by 2024. Neurodiagnostics are also known as “Neurodiagnostic tests”. They diagnose neurological disorders such as migraine, Parkinson’s disease, stroke, ischemic stroke and epilepsy. The factors that propel the growth of the Neurodiagnostics Market include increasing occurrence of neurological disorders such as stroke, growing consciousness among people and technological developments. On the other hand, there are factors that may hamper the growth of the market including lack of mental health checkup & regular diagnosis in emerging countries. Neurodiagnostics industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The market may be explored by product type, end users, technology, and geography. The industry may be explored by product type as intracranial pressure monitor, Electromyography (EMG), Electroencephalogram (EEG), Transcranial Doppler, and Cerebral oximeters. The “Electroencephalogram (EEG)” segment led the Neurodiagnostics Market in 2015 and is anticipated to maintain its dominance by 2024.The key factor that could be attributed to the growth of market includes capacity to efficiently diagnoze epilepsy and the other neurological disorders through non-invasive methods.
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Neurodiagnostics industry may be explored by technology as neuroimaging technologies that may further include Nuclear Medicine Imaging (SPECT, PET), Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Electroencephalography (EEG), Near Infrared Spectroscopic Imaging (NIRS), Voxel-based Morphometry (VBM), and Magnetoencephalography (MEG) in vitro diagnostics, and neuroinformatic.
The “CT and MRI” segment led the neurodiagnostics industry in 2015 and is anticipated to maintain its dominance by 2024.The factors that could be attributed to the growth of the segment might include increasing adoption in the internal body surgeries. The market could be explored based on end users as hospitals, operation theatres, neurophysiological laboratories and clinics.
North America accounted for the major share of the Neurodiagnostics Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing acceptance of neurodiagnostics technology.
Some of the key players that fuel the growth of the neurodiagnostics industry comprise Alpha Omega Ltd., Bruker, Guerbet, Agilent Technologies, Fonar Corporation, Doric Lenses, Inc., GE Healthcare, Hitachi Medical Corporation, Hologic Inc., Mightex Systems, NeuroNexus Technologies, Neusoft Medical Systems Co., Ltd., Roche Diagnostics, Plexon, Inc., Philips Healthcare, Siemens Healthcare and Toshiba Medical Systems Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Technology Outlook (Market revenue in USD Million, 2013 – 2024)
• Neuroimaging Technologies
• Computed Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Nuclear Medicine Imaging (PET, SPECT)
• Near Infrared Spectroscopic Imaging (NIRS)
• Electroencephalography (EEG)
• Magnetoencephalography (MEG)
• Voxel-based Morphometry (VBM)
• In Vitro Diagnostics
Regional Outlook (Market Revenue in USD Million, 2013 – 2024)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
• South Africa
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