Neurodiagnostics Market Fueled by Demand for Noninvasive Brain Monitoring Solutions and Rapid Developments in Research Infrastructure

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Neurodiagnostics Market Size, Share & Trends Analysis Report By Product (Diagnostic and Imaging Systems, Clinical Testing Instruments, Reagents & Consumables), By Condition (Neuro Degenerative Diseases, Epilepsy, Stroke), By End-Use (surgery centers, neurology centers, ambulatory care centers, diagnostic laboratories & imaging centers, and research laboratories & academic institutes)- Market Outlook And Industry Analysis 2031"

The global neurodiagnostic market is estimated to reach over USD 14.03 billion by 2031, exhibiting a CAGR of 7.12% during the forecast period.

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Diagnostic testing plays a critical role in the detection and management of neurological disorders. The neurodiagnostic market is generally segmented into three core categories: neuroimaging technologies, in vitro diagnostics, and neuroinformatics. Neuroimaging encompasses a range of techniques, including computed tomography (CT), magnetic resonance imaging (MRI), electroencephalography (EEG), and magnetoencephalography (MEG), among others. Conventional diagnostic methods often lack the precision and timeliness required for early diagnosis, thereby increasing demand for advanced diagnostic platforms that incorporate enhanced technological capabilities.

The rising global geriatric population-driven by extended life expectancy-is contributing to the increasing prevalence of age-related neurological conditions such as stroke, Alzheimer's disease, Parkinson's disease, and dementia. In response to this growing disease burden, substantial investments are being made by both governmental and non-governmental organizations in the development of novel diagnostic tools and therapeutic approaches. Additionally, increased funding allocations and the implementation of public awareness initiatives targeting neurological disorders are expected to further support the expansion of the neurodiagnostic market over the forecast period.

List of Prominent Players in the Neurodiagnostics Market:
• Advanced Brain Monitoring
• ANT Neuro (Netherlands)
• Bio-Rad Laboratories Inc.
• Canon, Inc.
• DRG Instruments GmbH (Germany)
• ELMIKO MEDICAL Sp. Z o.o. (Poland)
• F. Hoffmann-La Roche Ltd
• Fonar Corporation (US)
• FUJIFILM Holdings Corporation
• Fujirebio (Japan)
• GE Healthcare
• Hitachi, Ltd.,
• Koninklijke Philips N.V.
• Lifelines Neuro
• Mitsar Co. LTD.
• Motion Lab Systems, Inc. (US)
• Natus Medical Incorporated
• Neusoft Medical Systems Co., Ltd. (US)
• Nihon Kohden Corporation
• QIAGEN N.V.
• Ridge Diagnostics (US)
• Rigaku Corporation (Japan)
• Siemens Healthcare GmbH
• Tecan Trading AG (Switzerland)
• Thermo Fisher Scientific, Inc.

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Market Dynamics
Drivers:
Manufacturers of diagnostic imaging equipment are increasingly investing in technological innovations aimed at enhancing the precision of neurological disorder diagnosis. For example, Medtronic PLC's StealthStationTM S8 Neurosurgery System is designed to enable accurate imaging and surgical navigation across all spinal segments. The system incorporates advanced capabilities, including 3D cameras, electromagnetic sensors, tracking algorithms, and sophisticated data processing software, thereby streamlining diagnostic procedures. Such advancements are expected to drive the growth of the global neurodiagnostic market.

Challenges:
The widespread adoption of advanced imaging technologies is hindered by the substantial capital investment required, particularly in developing and low-income regions. For instance, the price of an ultrasound machine ranges from USD 20,000 to USD 200,000, with certain high-end models exceeding this range. Similarly, positron emission tomography (PET) scanners can cost approximately USD 2 million, while magnetic resonance imaging (MRI) systems may be priced around USD 1 million. These high costs pose a significant barrier to adoption and limit market penetration.

Regional Trends:
North America is anticipated to command a significant share of the neurodiagnostic market and is projected to witness strong growth at a notable compound annual growth rate (CAGR) over the forecast period. This growth is attributed to advancements in brain monitoring technologies, elevated healthcare expenditure, widespread access to cutting-edge diagnostic tools, the strong presence of medical device manufacturers, and a well-established healthcare infrastructure, particularly in the United States. Additionally, the Asia-Pacific region is expected to demonstrate substantial growth, driven by the rising prevalence of neurological disorders and increasing demand for neurodiagnostic devices in emerging economies.

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Recent Developments:
• In Dec 2022, Natus Medical, Inc. has reached an agreement to acquire Micromed Holding SAS ("Micromed Group" or "Micromed"), a global provider of neurophysiology solutions. Together, Natus and Micromed will offer customers the finest neurodiagnostic and neuromonitoring solutions in the industry.
• In Aug 2021, Rigaku Corporation purchased all issued shares of MILabs B.V. as part of their comprehensive attempt to join the life sciences market. Rigaku will expand its life sciences modality business globally through this acquisition by combining MILabs' multi-modality businesses for animals, including PET (Positron Emission Tomography), SPECT (Single Photon Emission Computed Tomography), Optical Imaging, and CT (Computed Tomography), with Rigaku's original X-ray imaging business for animals.
• In March 2021, At the commencement of the 2021 European Conference of Radiology, Hitachi Medical Systems unveiled two new permanent open MRI systems outfitted with the SynergyDrive workflow solution. GE Healthcare will unveil three new technologies, SIGNA 7.0T, SIGNA UHP 3.0T, and MAGNUS, in August 2020 to help neuro researchers better understand Alzheimer's disease and severe brain injury while also accelerating clinical translation.

Segmentation of Neurodiagnostics Market-
By Product-
• Diagnostic and Imaging Systems
o Electroencephalogram (EEG) Systems
o Electromyography (EMG) Products
o Magnetic Resonance Imaging (MRI) Systems
o Ultrasound Imaging Systems
o Computed Tomography (CT) Scanner
o Magnetoencephalogram (MEG) System
o Position emission tomography (PET) System
o Angiography System
o Others
• Clinical Testing Instruments
o PCR
o Next-Generation Sequencing (NGS)
o Sanger Sequencing
o Others
• Reagents & Consumables
o Media and Serra
o Solvents
o Enzymes, Protein & Peptides
o Probes
o Buffers
o Antibodies
o Others
By Condition-
• Neuro Degenerative Diseases
• Epilepsy
• Stroke
• Headache Disorders
• Sleep Disorders
• Others
By End-Use-
• Hospitals and Surgery Centers
• Neurology Centers
• Ambulatory Care Centers
• Diagnostic Laboratories & Imaging Centers
• Research Laboratories & Academic Institutes
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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