The global neurodiagnostics market is projected to reach USD 22.99 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.8% between 2024 and 2030, according to a new report by Grand View Research, Inc. The primary factors propelling this growth include a rising prevalence of neurological disorders driven by demographic shifts and increased awareness regarding their management. Additionally, ongoing technological advancements and a growing preference for innovative diagnostic solutions are expected to further stimulate market expansion. Neurological diseases impose a significant economic burden worldwide, affecting nearly 1 billion individuals.
Among the various neuroimaging modalities, computed tomography (CT) holds the largest market share, followed by magnetic resonance imaging (MRI). CT utilizes ionizing radiation to produce images, while MRI employs radio waves within a magnetic field. These neuroimaging techniques are essential for identifying brain injuries, developmental abnormalities, vascular issues that may result in stroke, epilepsy, and other conditions.
Biomarkers play a vital role in in vitro diagnostics for neurological conditions, primarily aimed at early detection and providing insights into the nervous system. While no biomarker tests are currently available commercially, they are being used in clinical research settings. For example, ELISA tests for Tau protein are employed in Alzheimer’s disease studies. Furthermore, the neuroinformatics field—combining neuroscience with information technology—supports the creation of databases to store neurological data. The neuroinformatics segment is anticipated to grow at the second-highest rate during the forecast period.
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Neurodiagnostics Market Report Highlights
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The global rise in life expectancy has led to a larger geriatric population, which is associated with an increased incidence of age-related neurological disorders such as Alzheimer’s and Parkinson’s disease. These conditions are typically diagnosed through neuroimaging, in vitro diagnostic tests, and neuroinformatics.
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CT and MRI continue to dominate as the most widely used imaging tools for identifying brain-related anomalies.
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Neurological biomarkers offer strong potential in guiding diagnostic research. Although no commercial biomarkers are available as of now, extensive clinical studies are underway to identify effective biomarker combinations.
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In 2023, North America accounted for approximately 35.8% of the market share and is expected to maintain its lead throughout the forecast period. Meanwhile, the Asia Pacific region is projected to grow at the fastest pace, with a CAGR of 4.5%.
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Leading Companies in the Neurodiagnostics Market
Key players in the neurodiagnostics industry include Canon Medical Systems Corporation; Siemens Healthineers AG; Koninklijke Philips N.V.; and Thermo Fisher Scientific, Inc. To strengthen their market positions, these companies are pursuing various strategies such as mergers, acquisitions, and strategic partnerships.
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Canon Medical Systems Corp specializes in the development and global distribution of medical diagnostic systems, including MRI, CT, ultrasound, and X-ray systems.
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Koninklijke Philips N.V. operates within the health technology space, providing a range of diagnostic imaging products and services including image-guided therapy, ultrasound, monitoring, analytics, and enterprise diagnostic informatics.
List of Key Players in the Neurodiagnostics Market
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Canon Medical Systems Corporation
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Siemens Healthineers AG
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Koninklijke Philips N.V.
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Thermo Fisher Scientific, Inc.
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FUJIFILM Corporation
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Natus Medical Incorporated (Natus)
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Lifelines Neuro
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Advanced Brain Monitoring, Inc.
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NIHON KOHDEN CORPORATION
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F. Hoffmann-La Roche Ltd
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GE HealthCare
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Mitsar Co. LTD
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