“The global neurodiagnostics market is projected to grow at a CAGR of 7.3% during the forecast period.”
The global neurodiagnostics market is expected to reach USD 8.4 billion by 2024 from USD 5.9 billion in 2019, at a CAGR of 7.3%. The demand for neurodiagnostic products is expected to grow due to the increasing prevalence of neurological disorders & diseases. The neurodiagnostics market is segmented on product, condition, end-user, and region.
“The hospitals & surgical centers segment accounted for the largest share of the neurodiagnostics market by end-user in 2018.”
Based on end-user, the neurodiagnostics market is segmented into hospitals & surgical centers, diagnostic laboratories & imaging centers, neurology centers, ambulatory care centers (ACCs), and research laboratories & academic institutes. In 2018, hospitals & surgical centers accounted for the largest share of the neurodiagnostics market due to the financial capabilities of hospitals to purchase expensive equipment, such as neurodiagnostic devices.
“The neurodegenerative diseases segment accounted for the largest share of the neurodiagnostics market by condition in 2018.”
The neurodiagnostics market, by condition, is segmented into neurodegenerative diseases, epilepsy, stroke, headache disorders, sleep disorders, and other conditions. In 2019, the neurodegenerative diseases segment is expected to account for the largest share of the neurodiagnostics market due to the increasing incidence of traumatic brain injuries, dementia, Parkinson’s disease, and Huntington’s disease, and the growing number of neurological examinations for the diagnosis of these conditions.
“North America accounted for the largest share of the neurodiagnostics market in 2018.”
North America accounted for the largest share of the neurodiagnostics market in 2018, followed by Europe. This can primarily be attributed to the presence of a highly developed healthcare system, high adoption of innovative neurodiagnostic devices among medical professionals, full availability of advanced neurodiagnostic tools, and the large number of neurodiagnostic devices manufacturing companies that have an established base or are headquartered in the US.
Breakdown of supply-side primary interviews:
- By Company Type: Tier 1 (48%), Tier 2 (36%), and Tier 3 (16%)
- By Designation: C-level (10%), Director-level (14%), and Others (76%)
- By Region: North America (40%), Europe (32%), APAC (20%), and RoW (8%)
Some of the prominent players in the neurodiagnostics market GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Canon, Inc. (Japan), Hitachi, Ltd. (Japan), Lifelines Neuro Company, LLC (US), Natus Medical Incorporated (US), Hoffman-La Roche AG (Switzerland), FUJIFILM Holdings Corporation (Japan), Mitsar Co., Ltd. (Russia), Advanced Brain Monitoring (US), Thermo Fisher Scientific, Inc. (US), Bio-Rad Laboratories (US), QIAGEN N.V. (Netherlands), and Nihon Kohden Corporation (Japan) among others.
- This report studies the neurodiagnostics market based on product, condition, end-user, and region. It studies major factors (such as drivers and restraints) affecting market growth.
- The report also analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. It analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market.
- The report forecasts the revenue of market segments with respect to five major regions and their respective major countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis?industry trends, market shares of top players, and company profiles, which together form basic views. It also analyzes the competitive landscape; emerging segments of the neurodiagnostics market; and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.