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Brain And Neuroimaging Devices Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033
Brain And Neuroimaging Devices Market Size
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According to The Business Research Company's, The brain and neuroimaging devices market size has grown strongly in recent years. It will grow from $37.53 billion in 2023 to $39.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to diagnosis and treatment of neurological disorders, aging population, brain mapping and connectivity research, emerging markets growth.
The brain and neuroimaging devices market size is expected to see strong growth in the next few years. It will grow to $48.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to regulatory support, personalized medicine, targeted therapies, value-based healthcare. Major trends in the forecast period include high-resolution imaging, multimodal imaging, wearable neuroimaging, connectivity and functional imaging.
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Market Drivers and Trends:
An increase in the incidence of neurological disorders is expected to drive the market. According to a report by the European Academy of Neurology, 1 in 3 people in 2022 are affected by a neurological disease and the number of deaths due to neurological disorders increased by almost 40% in the last 30 years. Brain and neuroimaging devices are used to diagnose neurological disorders increasing the survival rate and management of the disease. This increasing incidence rate is expected to drive the brain and neuroimaging devices market.
Companies and researchers are focusing on developing portable brain scanners that are expected to revolutionize brain imaging by lowering the cost of devices, making them affordable and accessible to all. EMVision Medical Devices and researchers at Queensland University have developed a portable brain scanner technology that enables brain scanning to be performed at almost any location. Researchers at University College London have developed a portable MEG brain scanner that is lightweight, worn like just a helmet but can measure brain activity even as people make natural movements, providing improved imaging opportunities for patients with disorders that cause unprompted body movements, such as epilepsy.
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Major Key Players of the Market:
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.
Brain And Neuroimaging Devices Market 2024 Key Insights:
• The brain and neuroimaging devices market size is expected to see strong growth in the next few years. It will grow to $48.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
• Increase Incidences Of Neurological Disorders In Brain And Neuroimaging Devices Market
• Technological Advancements In Portable Brain Scanners For Brain And Neuroimaging Devices Market
• Western Europe was the largest region in the brain and neuroimaging devices market in 2023
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