The Growing Neuroimaging Market is driven by Growing Geriatric Population
The neuroimaging market includes medical devices and software used for visual representation, characterization, and analysis of the neurological structures and functions of the brain and spine. Neuroimaging techniques such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), electroencephalography (EEG), and magnetoencephalography (MEG) are widely used to detect neurological disorders like stroke, epilepsy, dementia and brain tumors. Recent advancements in Neuroimaging Market Growth technologies like functional MRI (fMRI) and molecular imaging help understand brain activity and detect neurological changes at the cellular and molecular levels.
The global neuroimaging market is estimated to be valued at US$ 43.35 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
Factors such as the growing geriatric population vulnerable to neurodegenerative diseases, increasing awareness about early disease diagnosis, and technological advancements in imaging modalities are fueling market growth.
Key Takeaways
Key players operating in the neuroimaging market are THERMO FISHER SCIENTIFIC INC.F. HOFFMANN-LA ROCHE LTDIllumina, Inc.QIAGENGenomeMeNanoString Technologies, Inc.BDbioMerieux SAGenMark Diagnostics, Inc.Perkin Elmer, Inc. The key players are focusing on developing innovative neuroimaging solutions through strategic collaborations and mergers and acquisitions.
The growing global burden of neurological disorders is driving high demand for advanced neuroimaging technologies. Neuroimaging helps understand various disease mechanisms and aids drug development efforts.
Regional expansion strategies of market players through collaborations with research institutes and hospitals are helping increase geographical presence and access to neuroimaging facilities globally. Growing healthcare expenditure in emerging nations presents significant growth opportunities.
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