Neuroscience Market Share Worth USD 38.9 Billion with CAGR of 3.9% by 2027 | Dermavant Sciences, Inc., Incyte Corporation, Aclaris Therapeutics

Increasing prevalence of neurological disorder to propel the growth of the neuroscience market

North America is expected to gain tremendous traction in the global market and this is accredited to the increasing launch of the innovative and novel product in the market. For instance, in November 2018, GE Healthcare launched Revolution Apex, a new CT scanner in its Revolution product portfolio. This device features Quantix 160 X-Ray tube and deep learning imaging reconstruction, a system built on GE’s Edison, an artificial intelligence platform to produce high-quality images in challenging cases.

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1. In August 2017, Charles River Laboratories International, Inc. acquired Brains On-Line, a contract research organization (CRO), for expansion of Charles River’s portfolio of Central Nervous Systems (CNS) services

2. In April 2018, Qure.ai, an artificial intelligence company based in Mumbai, India launched new AI-powered technology, which supports the interpretation of the brain. The platform supports in identifying bleedings in the internal organ or tissue, fractures, and other critical abnormalities in the head through the CT scans.

Major Players:

Alpha Omega, Inc., GE Healthcare, Axion Biosystems, Inc., Siemens Healthineers, Scientifica Ltd., Blackrock Microsystems LLC, Femtonics Ltd., LaVision Biotec GmbH, Intan Technologies, NeuroNexus Technologies, Inc., Newport Corporation, Neuralynx Inc., Plexon Inc., Mediso Medical Imaging Systems, Noldus Information Technology, Sutter Instrument Corporation, Thomas Recording GmbH, and Trifoil Imaging Inc.

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Growing incidence of neurological disorders such as Alzheimer’s, Parkinson’s diseases, and other dementias are projected to augment the growth of the neuroscience market. According to the World Alzheimer Report 2015 published by Alzheimer ’s disease International (ADI), in 2015 the new dementia cases in the regions were 4.9 million (49.0%) in Asia, 2.5 million (25.0%) in Europe, 1.7 million (18.0%) in the Americas, and 0.8 million (8.0%) in Africa. Furthermore, according to Parkinson's UK, in 2015 there were around 137,000 people suffering from Parkinson’s in the U.K. Increasing number of partnerships and agreements among key players for expanding business presence is also projected to foster the growth of the neuroscience market. For instance, in April 2019, Philips and Hong Duc General Hospital in Ho Chi Minh City in Vietnam entered into a seven-year partnership agreement, under which Philips will offer Hong Duc General Hospital the latest medical imaging, patient monitoring, and healthcare IT solutions.

Neuro neuroscience is the study of the brain. It's a multidisciplinary field that combines anatomy, physiology, molecular biology, cognitive science, developmental psychology, cell biology, computer science, and mathematics to understand the basic and emerging properties of nervous tissues and neurons. Neurosurgery, neuropsychology, psychiatry, and neurology provide unique opportunities to advance knowledge of the brain and its disorders. Molecular neuroscience provides methods and models to study gene regulation and protein metabolism.

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