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Neurological Disorder Diagnostics Market Technology Research and Global Outlook 2021 to 2028 | Siemens Healthineers, Koninklijke Philips N.V., General Electric Company

10-22-2021 09:23 AM CET | Health & Medicine

Press release from: Coherent Market Insights

Neurological Disorder Diagnostics Market

Neurological Disorder Diagnostics Market

Neurological Disorder Diagnostics Market report is an in-depth analysis study offered which explains necessary aspects like competition, segmentation, and regional growth in excessive detail. As a part of competitive analysis, the analysis study includes thorough company identification of leading players of the Neurological Disorder Diagnostics Industry.

Neurological Disorder Diagnostics Market report provides emerging opportunities in the market and the future impact of major drivers and challenges and, support decision makers in making cost-effective business decisions. One of the objectives of this report is to identify the latest developments, market shares, and strategies employed by the major market players. Besides, the least competitive market niches with significant growth potential are also identified. For research methodology, secondary research, primary research, subject matter expert advice, quality check, and final review was utilized.

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Neurological disorder diagnostics tools are medical devices that are used for diagnosing various neurological disorders such as Alzheimer’s disease (AD), Parkinson’s disease (PD), and Multiple Sclerosis. The devices, which are majorly used in diagnosis include imaging tools such as computed tomography (CT), magnetic resonance imaging (MRI), and in vitro diagnostic tools such as biomarkers and biopsy. Increasing prevalence of neurological disorders in the recent past has increased demand for diagnostic tools. For instance, according to data published by Alzheimer’s Association in 2018, around 5.7 million people in the U.S. of all age groups suffered from Alzheimer’s and dementia in 2017.

Furthermore, various private and government organizations are taking initiatives to raise awareness about neurological disorders by providing knowledge of diagnosis and treatment about neurological disorders, which is expected to drive the market growth. For instance, in 2012, Georgetown University Medical Center in collaboration with MedStar Georgetown University Hospital, established Huntington Disease Care, Education, and Research Center that offers diagnosis, treatment, and patient education for Huntington’s disease.

The global neurological disorder diagnostics market size is expected to be valued at US$ 12,162.6 million in 2019 and is expected to exhibit a CAGR of 7.6% over the forecast period (2019–2027).

Increasing number of approvals and launches of novel diagnostic tools

In the recent past, several key players in the market have received approval for launching novel diagnostic tools. Moreover, approval and launch of such novel tools in the market is expected to create lucrative environment for the global neurological disorder diagnostics market growth over the forecast period. For instance, in April 2018, Canon Medical Systems received 510 (k) clearance from the U.S. Food and Drug Administration for its new Aquilion Precision (CT) scanner. Aquilion Precision is an ultra-high resolution CT system (UHR CT).

Moreover, in March 2018, Koninklijke Philips N.V. launched its new 3-tesla MRI scanner, Elition 3.0T. This new MRI scanner reduces scanning time by 50%, which is expected to enhance patient experience. Furthermore, in January 2019, Canon Medical Systems Corporation launched Aquilion Start CT system with 16 and 32 slice configurations suitable for institutions aspiring to make diagnostic CT imaging more accessible and affordable.

However, high cost of diagnostic tools such as MRI machines and CT scan is a major factor, which is expected to hinder growth of global neurological disorder diagnostics market in emerging economies such as India, and China. According to American Health Imaging, price of a magnetic resonance imaging (MRI) devices starts from US$ 150,000, and a high end device costs more than US$ 1 million. Such high cost devices are only adopted by big hospitals and diagnostic laboratories.

Increasing strategic collaborations for development of new diagnostic tools is expected to propel the market growth

Strategic collaborations among key players are expected to fuel growth of the global neurological disorder diagnosis market over the forecast period. For instance, in March 2018, Canon Medical Systems, Kumamoto University, and University of Bordeaux entered into a collaborative research for the development of deep learning technology in magnetic resonance imaging.

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Major Players Are Operating In This Market Are: Siemens Healthineers, Koninklijke Philips N.V., General Electric Company, Esaote SpA, NeuroLogica Corporation, Masimo Corporation, York Instruments Ltd., Neusoft Medical Systems, and Canon Medical Systems Corporation

Highlights of the Neurological Disorder Diagnostics report:

1. A complete backdrop analysis, which includes an assessment of the Neurological Disorder Diagnostics Market
2. An objective assessment of the trajectory of the market
3. Market segmentation up to the second or third level
4. Reporting and evaluation of recent industry developments
5. Important changes in market dynamics
6. Emerging niche segments and regional markets
7. Historical, current, and projected size of the market from the standpoint of both value and volume
8. Market shares and strategies of key players
9. Recommendations to companies for strengthening their foothold in the market

To conclude, the Neurological Disorder Diagnostics Market report mentions the key geographies, market landscapes alongside the production and consumption analysis, supply and demand analysis, market growth rate, along with future forecast etc. This report also provides SWOT and PEST analysis, investment feasibility and return analysis. Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report.

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About Coherent Market Insights

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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