Neurodiagnostics Market to See Record Break Revenue $12.89 Billion By 2030, At CAGR Of 7.0% | AMR

Increase in innovations in neurodiagnostics products, and rise in number of product approvals are the other factors that contribute toward growth of the market

Increase in innovations in neurodiagnostics products, and rise in number of product approvals are the other factors that contribute toward growth of the market

The global Neurodiagnostics Market was estimated at $6.53 billion in 2020 and is expected to hit $12.89 billion by 2030, registering a CAGR of 7.0% from 2021 to 2030.

Rise in prevalence of neurological issues, expansion in geriatric populace, and innovative headways in neurodiagnostics drive the development of the worldwide neurodiagnostics market. By condition, the neuro degenerative illnesses portion would stay rewarding by 2030. By locale, then again, Asia-Pacific would refer to the fastest CAGR by 2030.

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COVID-19 scenario-

  • Rise in the focus of clinics & hospitals in setting up COVID-19 specific intensive care units (ICUs) along with temporary deferment of neuro-diagnostics devices production and manufacturing sites in the affected regions impacted the global neurodiagnostics market negatively.
  • However, the global situation is being ameliorated at a gradual pace, and the market is expected to recoup soon.

Neurodiagnostics monitors and records electrical activities of brain, spinal cord, and peripheral nerves of patients. Abnormality in brain functions including magnetic movement, cerebral oxygen capacity, electrical motion, and blood flow can lead to severe symptoms such as tremors, loss of sensation, paralysis, muscle pain, and weakness. There are several neurodiagnostic devices available in the market that are used to diagnose brain disorder in their early phase, which helps to combat these diseases. Neurodiagnostic devices and imaging systems include electroencephalogram (EEG) systems, magnetic resonance imaging (MRI) systems, ultrasound imaging systems, computed tomography (CT) scanner, and other systems.

The global neurodiagnostics market is analyzed across product, condition, end user, and region.

By product, the diagnostic and imaging segment portion represented more than three-fifths of the all-out market income in 2020, and is expected to lead the path before the finish of 2030. Simultaneously, the In vitro diagnostics portion would refer to the quickest CAGR of 7.8% all through the forecast period.

By condition, the neuro degenerative diseases segment contributed to around two-fifths of the total market share in 2020, and is expected to rule the roost till 2030. The segment is also expected to register the fastest CAGR of 8.0% during the study period.

By geography, North America generated the major share in 2020, holding more than two-fifths of the global market. Moreover, Asia-Pacific would cite the fastest CAGR of 8.6% by 2030. The other provinces analyzed through the market report include Europe and LAMEA.

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The Major Key Players Are:

Canon, Inc., F. Hoffmann-La Roche Ltd., FUJIFILM Holdings Corporation, GE Healthcare, QIAGEN N.V., Lifelines Neuro Company, LLC, Philips Co., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories Inc., and Siemens AG.

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