The global neurological disorder diagnostics market size was valued at USD 14,162.3 million in 2021 and is poised to grow at a significant CAGR of 7.5% during the forecast period 2022-28. Neurological biomarkers are chemicals found in the blood and cerebral spinal fluid (CSF) that help diagnose and track the evolution of brain illnesses. Genetic mutations, metabolite levels, brain imaging, and change in protein expression and post-translational modification are the most common sources of these biomarkers. Neurological biomarkers are frequently utilised in clinical practise during drug development because they identify biological reactions to experimental medications and contribute in the discovery of new targets for therapeutic intervention. Biomarker concentrations are currently being measured by researchers in order to give non-invasive testing, earlier diagnosis, and customised therapies.
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Over the forecast period, innovative product developments & approvals of novel neurological diagnostic devices are expected to boost global market growth. Siemens Healthineers, for example, got FDA approval for SOMATOM go in April 2018. All of them, as well as SOMATOM, are on their way. Top-of-the-line computed tomography (CT) scanners. In furthermore, significant growth research and development activities in order to build innovative diagnosis techniques for neurological disorders, as well as strategic partnership and acquisition operations between many manufacturers operating in the global market to enhance product portfolio and global presence, are expected to fuel the target market's growth over the forecast period. The high cost of diagnostic imaging instruments also including MRI machines and CT scans, on the other hand, is likely to limit worldwide market growth throughout the projection period. The global market is now seeing an increase in the use of biomarkers to detect various diseases, which is projected to assist the target market's growth throughout the forecast period. Over the projected period, ongoing technological developments and novel product introductions are expected to provide significant revenue possibilities for competitors in the target market.
The global neurological disorder diagnostics market segmentation:
1) By Technology: Imaging and In-Vitro Diagnostics.
2) By Indication: Genetic Neurological Disorders, Immunological Neurological Disorders, Paraneoplastic Syndrome, Paraproteinemic Neuropathies, and Others.
3) By End User: Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers.
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The neurological disorder diagnostics market research report gives a comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Owing to the increasing acceptance of new medical devices and well-developed health care systems across different countries in the region, North America is predicted to dominate the global market and will continue to do so during the forecast period. Due to technical developments and creative product releases in countries around Europe, the market in this region is predicted to have the second-highest revenue share throughout the forecast period.
The neurological disorder diagnostics market key players are Siemens Healthineers, Koninklijke Philips N.V., General Electric Company, Esaote SpA, NeuroLogica Corporation, Masimo Corporation, York Instruments Ltd.
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