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Robust Growth Projected for the Brain and Neuroimaging Devices Market 2024-2033
Brain And Neuroimaging Devices Market
The brain and neuroimaging devices market has witnessed strong growth, with the market size set to increase from $37.53 billion in 2023 to $39.66 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.7%. The brain and neuroimaging devices market is poised for continued expansion, reaching $48.66 billion by 2028, with a CAGR of 5.2%. Key factors driving this growth are detailed below.
Increase in Neurological Disorders Fuels Market Growth
The rising incidence of neurological disorders is a key driver for the brain and neuroimaging devices market. According to the European Academy of Neurology, one in three individuals is affected by a neurological disease in 2022. Additionally, deaths due to neurological disorders have surged by almost 40% in the last 30 years. Brain and neuroimaging devices play a crucial role in diagnosing neurological disorders, contributing to increased survival rates and effective disease management. With an anticipated growth in the incidence rate, the market for these devices is expected to thrive.
Rising Prevalence of Traumatic Brain Injuries Drives Market Growth
The increasing prevalence of traumatic brain injuries (TBI) is expected to propel the growth of brain and neuroimaging devices. TBI, resulting from sudden external force or trauma, affects physical, cognitive, emotional, and behavioral functioning. These devices aid in the diagnosis, assessment, and management of TBI, enabling doctors to identify bleeding, fractures, or structural abnormalities. The reported traumatic brain injury deaths in 2021 and the rising global cases emphasize the role of brain and neuroimaging devices in addressing this health concern.
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Major Players in the Market
Major companies operating in the brain and neuroimaging devices market include GE HealthCare, Siemens AG, Koninklijke Philips, Canon Medical Systems Corporation, Hitachi Medical Systems, Medtronic Plc., EB Neuro S.p.A., Neurosoft, MinFound Medical Systems Co. Ltd., Elekta, Varian Medical Systems, Toshiba Corporation, Shimadzu Corporation, Agilent Technologies Inc., Waters Corporation, Bruker Corporation, PerkinElmer Inc., Luminex Corporation, Bio-Rad Laboratories Inc., Carl Zeiss Meditec AG, Fujifilm Holdings Corporation, Hologic Inc., Nihon Kohden Corporation, Natus Medical Incorporated, RIMED Ltd., Advanced Brain Monitoring Inc., Intranerve Neuroscience Holdings LLC., Nuvasive Inc., SpecialtyCare Inc.
Technological Advancements in Portable Brain Scanners
Researchers and companies in the brain and neuroimaging devices market are focusing on developing portable brain scanners, revolutionizing brain imaging by increasing affordability and accessibility. Innovations such as portable MEG brain scanners provide improved imaging opportunities for patients with disorders causing unprompted body movements. EMVision Medical Devices and researchers at Queensland University have developed portable brain scanner technology, enabling brain scanning at almost any location.
Advancements with Artificial Intelligence (AI)
Major companies are integrating artificial intelligence (AI) into brain and neuroimaging devices to gain a competitive edge. Technologies like Neuro Suite with AI offer comprehensive solutions for neurological disorders. TeraRecon, Inc. launched the Neuro Suite, an AI-assisted clinical suite solution for neurology diseases, showcasing the ongoing trend of AI integration in the market.
Regional Insights
Western Europe leads the brain and neuroimaging devices market, followed by North America. The comprehensive market report covers regions such as Asia-Pacific, Eastern Europe, South America, Middle East, and Africa.
Market Segmentation
The brain and neuroimaging devices market covered in this report is segmented:
•By Imaging Type: Functional Magnetic Resonance Imaging (fMRI), Computed Tomography (CT), Positron Emission Tomography (PET),
•Electroencephalography (EEG), Magneto Encephalography (MEG), Other Imaging Types
•By Application: Parkinson's Disease, Traumatic Brain Injury, Epilepsy, Dementia, Sleep Disorders, Other Applications
•By End-user: Hospitals, Diagnostic Centres, Ambulatory Surgical Centres
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Brain And Neuroimaging Devices Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheBrain And Neuroimaging Devices Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on brain and neuroimaging devices market size, brain and neuroimaging devices market drivers and trends, brain and neuroimaging devices market major players, brain and neuroimaging devices market competitors' revenues, brain and neuroimaging devices market positioning, and brain and neuroimaging devices market growth across geographies.The brain and neuroimaging devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the brain and neuroimaging devices market report and tap into segments with the highest growth potential.
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