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Leading Element Driving Change in the Neurodiagnostics Market in 2025: Rising Prevalence Of Neurological Disorders Driving Growth In The Market Driver
Neurodiagnostics Market Size
In recent years, the neurodiagnostics market has taken a strong growth trajectory. The market is anticipated to skyrocket from $9.17 billion in 2024 to $9.82 billion in 2025 with a compound annual growth rate (CAGR) of 7.1%. The historic surge in the market size can be linked to a surge in neurological disorders, rising usage of advanced imaging technologies, an ageing population, heightened awareness towards early disease detection, amplified healthcare facilities, and increased investments in neuroscience research and development.
The size of the neurodiagnostics market is predicted to experience substantial expansion in the coming years, reaching a total value of $12.79 billion in 2029 with a compound annual growth rate of 6.8%. The projected increase during this period is due to a variety of factors such as the heightened demand for non-invasive diagnostic measures, the escalating occurrence of neurological disorders, more government expenditure on healthcare infrastructure, spread of awareness and initiatives promoting early detection, and enlarged implementation of personalized medicine strategies. In the prediction period, prominent trends include the creation of mobile EEG devices, AI integration for improved precision in diagnostics, advanced brain imaging technologies via MRI, the use of wearable technology for constant monitoring, progress in neurogenetic testing, and the use of real-time data analysis for tailor-made treatment plans.
What Are the Forces Behind the Rapid Growth of the Neurodiagnostics Market?
The surge in neurological disorders is anticipated to fuel the expansion of the neurodiagnostics market. Neurological disorders, which affect the brain, spinal cord, or nerves, result in a variety of cognitive, motor, and sensory impairments. The escalation in these disorders is mostly due to the aging population, environmental aspects, changes in lifestyle, genetics, and improved diagnostic methods. Neurodiagnostics play a crucial role in accurately detecting, evaluating, and tracking neurological disorders, allowing for accurate diagnosis, informed treatment choices, and efficient management of conditions impacting the brain, spinal cord, and nerves. For example, the National Library of Medicine, a US-based medical library for medical research information, reported in April 2023 that 6.7 million Americans were affected by Alzheimer's in 2023, a number projected to increase to 13.8 million by 2060. Consequently, the rising incidence of neurological disorders is propelling the growth of the neurodiagnostics market.
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Who Are the Dominant Companies Influencing Neurodiagnostics Market Trends?
Major companies operating in the neurodiagnostics market are Nihon Kohden Corporation, Cephalon LLC, Stratus Neuro LLC, Cadwell Industries Inc., Compumedics Limited, Ceribell Inc., CND Life Sciences Inc., Lifelines Neuro Inc., ANT Neuro B.V., Neurovative Diagnostics LLC, Firefly Neuroscience Inc, IntraNerve Neuroscience Inc, NeuroDiagnostics Laboratories LLC, Advanced Brain Monitoring Inc, Spes Medica S.r.l., BioSignal Group Inc, Combinostics Inc., Deymed Diagnostic LLC, NeuLine Health Inc., Ridge Diagnostics Inc., Beacon Biosignals Inc., Intch Inc.
How Is the Neurodiagnostics Market Evolving?
Leading corporations in the neurodiagnostics sector are prioritizing technological progress, such as sophisticated software algorithms, to bolster diagnostic precision and enhance patient health results. A cutting-edge software algorithm is a highly complex procedural instruction that processes and examines data utilizing methodologies like artificial intelligence (AI) or machine learning to augment diagnosis and decision-making procedures. For example, in October 2023, Ceribell Inc., an American medical equipment production firm, introduced the ClarityPro AI algorithm. This marked a significant evolution in the diagnosis of electrographic status epilepticus (ESE). This advanced software that is integrated with the Ceribell EEG system uses machine learning to scrutinize EEG waveforms and provide instantaneous alerts for potential seizures. It is worth noting that ClarityPro is the initial acute care gadget to gain FDA approval for independent diagnosis. This inventive technology is crafted to augment clinical decision-making by incessantly monitoring brain activity. It provides valuable input and facilitates quicker and more efficient treatment reactions.
What Are the Different Segmentations in the Neurodiagnostics Market?
The neurodiagnostics market covered in this report is segmented -
1) By Type: Diagnostic And Imaging Solutions, In-Vitro Diagnostics
2) By Technology: Neuroimaging Technologies, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Nuclear Medicine Imaging (PET, SPECT), Near Infrared Spectroscopic Imaging (NIRS), Electro-Encephalography (EEG), Magneto-Encephalography (MEG), Voxel Based Morphometry (VBM), Neuroinformatics
3) By Condition: Epilepsy, Alzheimer's Disease, Parkinson's Disease, Stroke, Joint Health, Other Conditions
4) By End Use : Hospitals And Clinics, Diagnostic Laboratories, Imaging Centers, Other End Uses
Subsegments:
1) By Diagnostic And Imaging Solutions: MRI (Magnetic Resonance Imaging) Systems, CT (Computed Tomography) Scanners, EEG (Electroencephalogram) Systems, EMG (Electromyography) Systems, MEG (Magnetoencephalography) Systems, PET (Positron Emission Tomography) Scanners, SPECT (Single Photon Emission Computed Tomography) Scanners, Functional MRI (fMRI) Systems, Intracranial Pressure Monitors
2) By In-Vitro Diagnostics: Blood-Based Diagnostics, Cerebrospinal Fluid (Csf) Analysis, Genetic Testing And Biomarkers, Neurochemical Diagnostics, Point-Of-Care Neurodiagnostics, Diagnostic Kits For Neurodegenerative Disorders
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Which Region Is at the Forefront of the Neurodiagnostics Market?
North America was the largest region in the neurodiagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurodiagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Neurodiagnostics Global Market Report?
- Market Size Analysis: Analyze the neurodiagnostics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the neurodiagnostics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall neurodiagnostics market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the neurodiagnostics market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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