Digital Health In Neurology Market Size, Trend Analysis, Share, Competitive Analysis, And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Digital Health In Neurology Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The digital health in neurology market size has grown exponentially in recent years. It will grow from $35.74 billion in 2023 to $44.26 billion in 2024 at a compound annual growth rate (CAGR) of 23.8%. The growth in the historic period can be attributed to improved access to care for Parkinson's disease patients through digital health tools, leveraged big data for computational health in neurology, integrated digital tools with neurogenetics research, digital health initiatives for movement disorders, particularly in telemedicine applications.

The digital health in neurology market size is expected to see exponential growth in the next few years. It will grow to $105.10 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The growth in the forecast period can be attributed to advancements in AI and machine learning, telemedicine expansion, wearable technology and remote monitoring, big data and genomics integration, patient-centered digital health platforms, and regulatory and reimbursement frameworks. Major trends in the forecast period include the surge in patient-centric solutions, focus on remote monitoring and virtual care, AI-powered diagnostics, and treatment personalization, emphasis on preventative measures.

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Market Drivers and Trends:

The rise in the prevalence of cardiovascular disorders is expected to propel the growth of the congestive heart failure treatment devices market going forward. Cardiovascular disorders encompass a range of diseases affecting the heart and blood vessels, including coronary artery disease, hypertension, and heart failure, impacting blood circulation and overall heart health. The rise in the prevalence of cardiovascular disorders is primarily due to increasing rates of risk factors such as obesity, sedentary lifestyles, poor diets, and aging populations. Congestive heart failure treatment devices are crucial in managing cardiovascular disorders by regulating heart rhythms and improving heart function, significantly enhancing patient outcomes. For instance, in March 2022, according to the Office for National Statistics, a UK-based national statistical authority, the number of deaths due to heart attacks was 20,061 in 2021, increasing from 19,440 in 2020. Therefore, the rise in the prevalence of cardiovascular disorders is driving the growth of the congestive heart failure (CHF) treatment devices market.

Major companies operating in digital health in neurology market are focusing on developing innovative technology, such as a neural interface, to gain a competitive edge in the market. A neural interface is a technology that enables direct communication between the brain and external devices, allowing for control of or feedback from these devices. For instance, in November 2022, Blackrock Neurotech, a US-based biotechnology company, launched Neuralace, a next-generation neural interface. This innovative technology, featuring over 10,000 channels and a flexible electrode design, represents a significant advancement in brain-computer interface (BCI) technology. Neuralace is set to transform the treatment of neurological disorders by enabling comprehensive brain data capture and improving capabilities in vision and memory restoration, performance prediction, and mental health disorder treatment.

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Major Key Players of the Market:

Neuralink Corp., Neuronetics Inc., NeuroPace Inc., Synaptive Medical, Cala Health, Magstim Co Ltd, MindMaze, MicroTransponder Inc., Neuroelectrics, Pear Therapeutics Inc., electroCore Inc., NeuroMetrix Inc., Blackrock Neurotech, AppliedVR, Neurable Inc., BitBrain, NeuraLight Inc., Axorus, Omniscient Neurotechnology Pty Limited, NervGen Pharma Corp., Cortechs Labs Inc., Brain.fm, Hippoc

Digital Health In Neurology Market 2024 Key Insights:

• The digital health in neurology market size is expected to see exponential growth in the next few years. It will grow to $105.10 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%.
• Neurological Disorders Propel Growth Of The Digital Health In Neurology Market
• Innovative Neural Interface Technologies Revolutionize Neurology Care
• North America was the largest region in the digital health in neurology market in 2023

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