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Rising Alzheimer's Prevalence Fuels Growth in Neurological Disorder Diagnostics Market: Critical Driver Shaping the Neurological Disorder Diagnostics Market in 2025
Neurological Disorder Diagnostics Market
Neurological Disorder Diagnostics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The diagnostics market for neurological disorders has seen significant expansion in past years. The market value is expected to grow from $11.75 billion in 2024 to $12.61 billion in 2025, representing a compound annual growth rate (CAGR) of 7.3%. Factors that contributed to this growth during the historic period include an increasing number of neurological disorder cases, a rise in the aging population, greater emphasis on early detection and disease management, increased public awareness about neurological disorders, and a heightened focus on preliminary diagnosis.
Neurological Disorder Diagnostics Market Size Forecast: What's the Projected Valuation by 2029?
The market for neurological disorder diagnostics is anticipated to experience significant growth in the coming years, with its value projected to reach $16.6 billion in 2029, expanding at a compound annual growth rate (CAGR) of 7.1%. Contributing factors to this projected growth during the forecast period include increased awareness and education, greater healthcare spending, wider accessibility to healthcare services, the growth of diagnostic centers, and a surge in the usage of personalized medicine. Foreseen trends within the forecast period encompass advancements in techniques used in neuroimaging, the use of wearable technology and remote monitoring systems, breakthroughs in biomarker discovery and genetic testing, the incorporation of artificial intelligence and machine learning, and the creation of point-of-care diagnostic tools.
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What Are the Drivers Transforming the Neurological Disorder Diagnostics Market?
The continuous rise in cases of Alzheimer's disease is anticipated to drive the expansion of the neurological disorder diagnostics market. Alzheimer's disease is a progressive neurodegenerative disorder demonstrating a slow erosion of cognitive abilities, encompassing memory, logical reasoning, and problem-solving. The disease is associated with genetic aspects, such as specific gene mutations and variations, the build-up of amyloid plaques and tau tangles in the brain, chronic inflammation, vascular concerns, and lifestyle factors. Diagnostics for neurological disorders aid in the early and precise detection of Alzheimer's disease using advanced imaging techniques, biomarker analysis, and cognitive evaluations. For instance, the Australian Institute of Health and Welfare, a government agency based in Australia, stated in September 2024 that around 411,100 individuals in Australia, including roughly 257,500 women and 153,700 men, were battling dementia in 2023. Therefore, the escalating occurrence of Alzheimer's disease stimulates the upward trend in the neurological disorder diagnostics market.
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What Long-Term Trends Will Define the Future of the Neurological Disorder Diagnostics Market?
Prominent firms in the neurological disorder diagnostics market are concentrating on creating cutting-edge solutions like neurological disease quantification software to assist the billion people globally suffering from neurological conditions. This software is a vital tool that enables measurement and analysis of brain functionality and the progression of neurological diseases. For example, Quibim, a biotech company from Spain, introduced QP-Brain in January 2024. This early-stage neurological disease quantification software harnesses the power of AI for neuroimaging analysis. Quibim's QP-Brain is a sophisticated tool aimed at quantifying alterations in brain tissue due to neurological diseases, equipped with AI-driven automated segmentation and in-depth volumetric analysis. These unique features provide accurate insights into changes in brain structure, beneficial for both clinical and research purposes.
Which Segments in the Neurological Disorder Diagnostics Market Offer the Most Profit Potential?
The neurological disorder diagnosticsmarket covered in this report is segmented -
1) By Component: Instruments, Reagents, Kits, Software, Services
2) By Technology: Immunoassay, Polymerase Chain Reaction (PCR) Techniques
3) By Disease Type: Alzheimer's Disease, Dementia, Parkinson's Disease, Epilepsy, Traumatic Brain Injury, Other Disease Types
4) By End User: Hospitals And Clinics, Diagnostic Centers, Academic And Research Institutes
Subsegments:
1) By Instruments: Electroencephalography (EEG) Machines, Magnetic Resonance Imaging (MRI) Machines, Computed Tomography (CT) Scanners, Positron Emission Tomography (PET) Scanners, Lumbar Puncture Equipment, Ultrasound Devices, Neurostimulation Devices, Transcranial Magnetic Stimulation (TMS) Devices,
2) By Reagents: Biochemical Reagents, Antibodies, DNA Probes, RNA Probes, Enzyme-linked Immunosorbent Assay (ELISA) Reagents, Polymerase Chain Reaction (PCR) Reagents, Sample Collection Reagents
3) By Kits: Diagnostic Test Kits, Genetic Testing Kits, Biomarker Detection Kits, Immunoassay Kits, Point-of-Care Testing Kits, Screening Kits for Neurological Disorders
4) By Software: Diagnostic Software for Imaging Analysis, Data Management Software, Clinical Decision Support Software, Patient Management Software, Laboratory Information Management Systems (LIMS), Neuroinformatics Software, Telemedicine Software
5) By Services: Diagnostic Testing Services, Consultation Services, Training and Support Services, Maintenance and Repair Services for Equipment, Telehealth Services, Data Analysis Services, Research and Development Services
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Which Firms Dominate the Neurological Disorder Diagnostics Market by Market Share and Revenue in 2025?
Major companies operating in the neurological disorder diagnostics market are Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Novartis AG, Medtronic plc, Amgen Inc., Siemens Healthineers AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Otsuka Pharmaceutical Co. Ltd., Boston Scientific Corporation, Neurocrine Biosciences Inc., Neusoft Medical Systems Co. Ltd., Nihon Kohden Corporation, Natus Medical Incorporated, Esaote S.p.A, Canon Medical Systems Corporation, NeuroPace Inc., Lifelines Neuro Company LLC, York Instruments Ltd., Advanced Brain Monitoring Inc., Neurometrix Inc., Croton Healthcare Private Limited, NeuroLogica Corporation
Which Regions Offer the Highest Growth Potential in the Neurological Disorder Diagnostics Market?
North America was the largest region in the neurological disorder diagnostics market in 2024. The regions covered in the neurological disorder diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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