Neurodiagnostics Market Research Report-Forecast till 2027

Neurodiagnostics Market: By Product (Diagnostic and Imaging Systems, Clinical Testing Instruments, Reagents & Consumables), Condition (Neuro Degenerative Diseases, Sleep Disorders, Epilepsy, Stroke, Headache Disorders, Others), End-User (Hospitals and Surgery Centers, Diagnostic Laboratories & Imaging Centers, Neurology Centers, Ambulatory Care Centers, Research Laboratories & Academic Institutes), Region (Americas, Europe, Asia-Pacific, Middle East Africa) - Forecast to 2027

ID: MRFR/HC/7290-HCR | February 2021 | Region: Global | 90 pages

Neurodiagnostics Market Overview


The Neurodiagnostics Market is predicted to witness a CAGR of 7%. According to Neurodiagnostics Market Forecast by MRFR, the market value is evaluated to reach up to USD 12,700 Million by the studied forecast period 2021-2028. Neurodiagnostics is essential for the diagnosis of the illness in the nervous system (spinal cord and brain). According to the reports by WHO (World Health Organisation), around 5 million people suffer from epilepsy. Also, 35.6 million populations suffer from dementia. Furthermore, around 60% of people suffer from Alzheimer's disease.


It is evaluated that North America will hold the largest share in the upcoming years. Major countries such as Canada and the US will have a positive impact on the market growth. Also, the Asia-Pacific region will have the fastest market growth in the studied forecast period.  The increasing medical cases such as headache disorders, sleep disorders, epilepsy, stroke, etc. are predicted to positively influence the Neurodiagnostics industry Growth.


COVID-19 Analysis


The increasing spread of COVID-19 disease during 2020 had a massive impact on the Neurodiagnostics Market Growth. The increasing cases from across the world led to creating significant pressure on the healthcare system. On the other hand, the announcement of lockdowns across several countries across the world caused immense financial disruption. This also led to a labour shortage and the manufacturing process.


Market Dynamics


Market Drivers


The rising cases of neurological diseases and new advanced treatments are projected to drive the Neurodiagnostics Market in the forecast period. The growing awareness and technological advancements such as the implementation of artificial intelligence will also enhance the market growth.


Restraints


The huge costs of various neurodiagnostic devices are evaluated to restraint the market growth. Also, the significant lack of health check-up facilities and regular diagnostic in developing countries is estimated to slow down the market growth.


Opportunities


There are various opportunities that are depicted to improve the Neurodiagnostics Market Growth in the future. Due to the increasing investments by significant players for the development of essential devices, the market is anticipated to have robust growth.


Challenges


The shortage of labour and lack of a strong supply chain will be challenging for the market. Also, the low awareness of medical treatment and improper infrastructure in various under-developed countries will pose a challenge for the market.


Cumulative Analysis


The Compound Annual Growth Rate (CAGR) of the Neurodiagnostics Global Market is predicted to reach up to 7%. In the upcoming years, the Neurodiagnostics Market Value is estimated to touch around USD 12,700 Million during the studied forecast period 2021-2028.


Value Chain Analysis


The improvement in the development and research by the investments by key players will positively impact the market. Also, the rising awareness for various diseases and increasing geriatric population will further boost the Neurodiagnostics Market Value in the forthcoming years.


Market Segmentations


The Neurodiagnostics Market Size is divided into different segments. The segments are divided into application, product type, and condition. Based upon the condition, the market is divided by Epilepsy, Headache Disorders, Stroke, Sleep Disorders, and Others.


Based upon Product Type, the Neurodiagnostics Market is divided into Imaging and Diagnostic Systems, Consumables and Reagents, and Instruments for Clinical Testing. The Imaging and Diagnostic and Imaging Systems are divided into EEG systems, PET scanners, Ultrasound Imaging Systems, CT Scanners, EMG devices, MRI Systems, Angiography Systems, MEG devices, and others. The instruments for clinical testing are divided into MGS, PCR instruments, Sanger Sequencers, NGS Instruments, and others.


Based upon Application, the Neurodiagnostics Global Market is divided into Imaging Centres and Diagnostic Laboratories, Academic Institutes, and Research Laboratories, Neurology Centers, Surgical Centres and Hospitals, Ambulatory Care Centers.


Regional Analysis


The Neurodiagnostics Market based upon the region is divided into Asia-Pacific, the Americas, Europe, and Africa, and the Middle East. According to the Neurodiagnostics Market Analysis, the Americas will hold the largest share in the market. This region is divided into North and Latin America. Countries such as the US and Canada are playing a crucial role in boosting the North American region during the studied forecast period.


Secondly, it is evaluated that Europe will hold the second largest Neurodiagnostics Market Share in the upcoming years. The increasing population of the older generation and prevalence of diseases such as dementia, stroke, Parkinson's disease, etc. are the drivers of this region.


It is predicted that the Asia-pacific region will grow at the fastest CAGR in the Neurodiagnostics Market. The rising initiatives by manufacturers and the development of new products are boosting the market growth in this region. 


Moreover, Africa and the Middle East region will have the slowest Neurodiagnostics Market Growth. Mainly, due to the low availability of technology and treatment facilities, the market will have the least Neurodiagnostics Global Market Share.


Competitive Landscape


The key players in the Neurodiagnostics Global Market play a significant role in the market growth. These key players do acquisitions, new product launches, partnerships, mergers, to expand their business. According to Neurodiagnostics industry Analysis by MRFR, some crucial players are as follows.



  • Phillips Healthcare (Netherlands)

  • Lifelines Neuro Company, LLC (US)

  • FUJIFILM Holdings Corporation (Japan)

  • QIAGEN N.V. (Netherlands)

  • Thermo Fisher Scientific Inc. (US)

  • Mitsar Co. Ltd. (Russia)

  • Hitachi Ltd. (Japan)

  • Hoffman-La Roche AG (Switzerland)

  • Natus Medical Incorporated (US)

  • Siemens Healthineers (Germany)

  • GE Healthcare (US)

  • Canon, Inc. (Japan)

  • Ridge Diagnostics (US)

  • Advanced Brain Monitoring (US)

  • Nihon Kohden Corporation (Japan)

  • ELMIKO MEDICAL (Poland)

  • DRG Instruments GmbH (Germany)

  • Motion Lab Systems (US)


Recent Developments



  • Hitachi in 2017, announced the launch of a new product called ECHELON Smart. This is an advanced MRI System that will help the company to boost the company's growth.

  • In 2019, Seimens Healthcare launched its new ultrasound system called ACUSON.


Report Overview


The report overview of Neurodiagnostics Market Outlook is as follows.



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


Report Score and Segmentation


The report score is to give information about Neurodiagnostics Market Forecast in the studied forecast period 2021-2028. It highlights the CAGR, market value, opportunities, key players, and other developments. The information provided in this report is gathered from various secondary and primary sources.



  • Study Period- 2021-2028

  • Base Year-2021

  • Forecast Period- 2021-2028

  • Historical Period-2017-2020


Segmentation



  • By Application


Imaging Centres and Diagnostic Laboratories


Academic Institutes and Research Laboratories


Neurology Centers


Surgical Centres and Hospitals


Ambulatory Care Centers


By Product Type



  • Imaging and Diagnostic Systems

  • EEG systems

  • PET scanners

  • Ultrasound Imaging Systems

  • CT Scanners

  • EMG devices

  • MRI Systems

  • Angiography Systems

  • MEG devices

  • Others

  • Consumables and Reagents

  • Instruments for Clinical Testing

  • MGS

  • PCR instruments

  • Sanger Sequencers

  • NGS Instruments

  • Others


 



  • By Condition

  • Epilepsy

  • Headache Disorders

  • Stroke

  • Sleep Disorders


 By Region



  • Americas

  • Africa and the Middle East

  • Europe

  • Asia-Pacific


 



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 4,848.48 Million
  CAGR   6.88% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Condition and End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Hitachi, Ltd. (Japan), Canon, Inc. (Japan), Lifelines Neuro Company, LLC (US), Thermo Fisher Scientific, Inc. (US), FUJIFILM Holdings Corporation (Japan), Mitsar Co., Ltd. (Russia), Natus Medical Incorporated (US), Hoffman-La Roche AG (Switzerland), and QIAGEN N.V. (Netherlands)
  Key Market Opportunities   Increasing support by regulatory authorities to the private and public companies, in terms of investment and product approvals
  Key Market Drivers

  • Technological advancements in neurodiagnostic such as the use of artificial intelligence (AI) in imaging systems
  • Growing awareness created by various government organizations about neurological diseases
  • High investment in research and development for the development of efficient products


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    Frequently Asked Questions (FAQ) :


    The growing occurrence of neurological diseases is foreseen to prompt positive growth.

    A CAGR of 6.88% is projected to propel the global market in the coming period.

    The market is disposed to grow favorably in the coming period.

    The Americas' regional market is estimated to have a significant impact on the market.

    FUJIFILM Holdings Corporation (Japan), Mitsar Co., Ltd. (Russia), Thermo Fisher Scientific, Inc. (US), Lifelines Neuro Company, LLC (US), and Natus Medical Incorporated (US) are likely to inspire market progress.



    This table of content is tentative and subject to change as the research progresses.

    Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.