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Neurological Disorders Propel Growth Of The Digital Health In Neurology Market: Pivotal Factor Influencing Digital Health In Neurology Market Growth in 2025
Digital Health In Neurology Market
Digital Health In Neurology Market Size Growth Forecast: What to Expect by 2025?
In the past few years, the market size for digital health in neurology has witnessed significant growth. The size is predicted to escalate from $44.26 billion in 2024 to approximately $55.07 billion in 2025, recording a 24.4% compound annual growth rate (CAGR). This growth over the years is attributed to better care accessibility for Parkinson's patients due to digital health tools, the leverage of big data in computational health for neurology, integration of digital tools in neurogenetics research, and digital health programs for movement disorders, particularly in the sphere of telemedicine applications.
How Will the Digital Health In Neurology Market Size Evolve and Grow by 2029?
Forecasts anticipate an exceptional rise in the digital health neurology market in the coming years, with its size projected to climb up to $130.22 billion by 2029, progressing at a compound annual growth rate (CAGR) of 24.0%. This predicted increase for the forecast period can be linked to advancements in the realms of artificial intelligence (AI) and machine learning, the growth of telemedicine, wearable technology and remote patient monitoring, the integration of big data and genomics, patient-oriented digital health platforms, and evolving regulatory and reimbursement structures. The forecast period will likely witness an upsurge in patient-centric solutions, a concentration on remote monitoring and virtual healthcare, AI-integrated diagnostics, and personalised treatment, with an added emphasis on preventative methods.
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What Drivers Are Propelling the Growth of Digital Health In Neurology Market Forward?
The expected surge in neurological disorder cases is projected to boost digital health's expansion in the neurology market. Neurological disorders, encompassing afflictions of the brain, nervous system, spinal cord, and peripheral nerves, are on the rise due to reasons such as an aging population, lifestyle alterations, environmental influences, genetic factors, increased diagnostic accuracy and awareness, and enhanced survival rates for traumatic brain injuries (TBIs). Digital health innovations in the field of neurology facilitate distant monitoring, individualized therapies, and early identification of neurological disorders, thereby boosting patient care and treatment outcomes. As indicated by the World Federation of Neurology in October 2023, a UK-based consortium of international neurological associations, over 40% of the world's populace is afflicted with a neurological condition, a figure expected to nearly double by 2050. Furthermore, the global stroke mortality rate is anticipated to rise by 50% by 2050 from the current annual figure of 9.7 million deaths. Hence, increasing cases of neurological disorders are fuelling digital health's growth trajectory in the neurology market.
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Which Emerging Trends Are Transforming the Digital Health In Neurology Market in 2025?
Key players within the digital health in neurology market are focusing on introducing innovative technology, such as neural interfaces, to gain a competitive advantage within the market. A neural interface is an advanced technology that allows direct interaction between the brain and external gadgets, facilitating the control of or feedback from these devices. For example, Blackrock Neurotech, a biotechnology company based in the United States, unveiled Neuralace, a new-age neural interface, in November 2022. This pioneering technology, with over 10,000 channels and a flexible electrode pattern, is a considerable breakthrough in brain-computer interface (BCI) technology. Neuralace aims to revolutionize the treatment of neurological disorders by efficiently capturing comprehensive brain data and enhancing skills in vision restoration, memory recovery, performance forecasting, and mental health disorder treatment.
What Are the Key Segments in the Digital Health In Neurology Market?
The digital health in neurology market covered in this report is segmented -
1) By Component: Software, Hardware, Services
2) By Indication: Alzheimer's Disease, Parkinson's Disease, Multiple Sclerosis, Epilepsy, Other Indications
3) By End-Use: Patients, Providers, Payers, Other End-users
Subsegments:
1) By Software: Neurological Monitoring Software, Diagnostics Software, Data Analytics Software, Treatment Management Software
2) By Hardware: Wearable Devices, Neurostimulators, Brain-Computer Interface Devices
3) By Diagnostic Equipment: (Not Specified In The List)
4) By Services: Telemedicine Services, Remote Monitoring Services, Consultation Services, Data Management And Analytics Services
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Who Are the Key Players Shaping the Digital Health In Neurology Market's Competitive Landscape?
Major companies operating in the digital health in neurology market are 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
What Geographic Markets Are Powering Growth in the Digital Health In Neurology Market?
North America was the largest region in the digital health in neurology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital health in neurology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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