The Global Neurodiagnostics Market is Estimated to Witness High...

The Global Neurodiagnostics Market is Estimated to Witness High Growth Owing to Technological

Posted 2024-08-01 12:53:29

550

Neurodiagnostics refers to the diagnostic testing performed to help diagnose neurological disorders and diseases related to the central and peripheral nervous systems. These tests aid in evaluating the neurological functioning, neuroanatomical structure, and identifying injuries or defects in the nervous system. Neurodiagnostics includes imaging tests such as computed tomography (CT) scans, magnetic resonance imaging (MRI), electroencephalography (EEG), and lumbar puncture. Advancements in imaging technologies and identification of new biomarkers have improved the detection of neurological conditions.

The Global Neurodiagnostics Market is estimated to be valued at US$ 8.66 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 To 2031.

Rising geriatric population and the subsequent increase in neurological disorders, technological advancements in diagnostic imaging techniques, and growing awareness about early disease diagnosis are fueling market growth.

Key Takeaways
Key players operating in the Neurodiagnostics Market are Koninklijke Philips N.V, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, FUJIFILM Holdings Corporation, Bio-Rad Laboratories Inc., Advanced Brain Monitoring, Inc., Nihon Kohden Corporation, Mitsar Co. LTD., EMS Biomedical, Mennen Medical, Natus Medical Incorporated, Medicaid Systems, Fujirebio, FONAR Corp, ANT Neuro, NEUROLITE AG, and Atlantic Health System.

Key Neurodiagnostics Market Trends need for non-invasive diagnostic techniques, untapped potential in emerging economies, and growing demand for integrated diagnostic platforms. Advancing technologies in neuroimaging such as high-resolution MRI, multi-parametric MRI, magnetic resonance spectroscopy, and amyloid and tau positron emission tomography (PET) have improved diagnostic accuracy.

Market drivers:
The growing geriatric population is the primary driver for the neurodiagnostics market. The risk of neurological disorders substantially increases with age. As per the United Nations, the world’s population aged 60 years and above is expected to double from 12% to 22% between 2015 and 2050. Additionally, rising incidence of neurological diseases such as Alzheimer's, Parkinson's, epilepsy, and stroke is another major factor fueling the need for early diagnosis using neurodiagnostic tests. According to the World Health Organization, 60 million people suffer from epilepsy worldwide. Neurological conditions accounted for over 10% of the global disease burden in 2016. Hence, large patient pool and growing incidence of target diseases will continue to drive the neurodiagnostics market.

Challenges in Neurodiagnostics Market
The Neurodiagnostics Market Size And Trends is currently facing various challenges such as high costs involved in product development and failure in meeting exact patient diagnosis requirements and needs. The market also faces challenges related to lack of skilled healthcare professionals and appropriate infrastructure for treatment and diagnosis of neurological disorders.

Get More Insights On, Neurodiagnostics Market