Neurodiagnostics Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global neurodiagnostics market was valued at 13.6 billion
in 2015 and is expected to reach a value of USD 18.3 billion by 2024, according
to a new report by Grand View Research, Inc. Key factors driving the market
growth include increasing prevalence of neurological diseases due to
demographic changes and growing awareness of their management. In addition,
consistent technological modifications coupled with increased preference for
novel diagnostic technologies will further fuel the market. The economic burden
of neurological diseases is extremely high on society and governments with
around 1 billion people suffering globally.
Among all
the neuroimaging techniques, computed tomography has the largest market share
followed by Magnetic
Resonance Imaging (MRI). Computed Tomography (CT) uses ionized
radiations for the purpose of creating images, whereas MRI uses radio waves in
a magnetic field. Neuroimaging techniques are used to detect brain injuries,
developmental malformations in the brain area, vascular irregularities that may
lead to stroke, epilepsy, etc.
Biomarkers
are an important part of in vitro diagnostics for neurological disorders as
their development is targeted at the early disease diagnosis with information
about nervous system. Although biomarkers are not commercially available in the
market, their use is confined to clinical research settings. For instance,
ELISA tests for Tau protein are available in clinical studies of Alzheimer’s
disease. In addition, neuroinformatics is a field that studies neuroscience and
information technology. This integration allows the storage of neurological
data in the form databases. The neuroinformatics market is expected to grow at
second highest growth rate during the forecast period.
Further Key
Findings from the Study Suggest:
- Increased life
expectancy has resulted in increased geriatric population across the
globe. The prevalence of aging-related neurological diseases such as
Alzheimer’s disease and Parkinson’s disease is on the rise. The diagnosis
of these diseases includes neuroimaging, in vitro diagnosis, and
neuroinformatics.
- CT and MRI are
the most commonly used imaging techniques across the globe, which are
mainly used to detect brain abnormalities.
- Neurological
biomarkers are extremely promising as they provide a direction to the
diagnostic studies. Although currently no commercial biomarker is
available in the market, an extensive clinical research is happening to
find out the perfect combinations of the biomarkers.
- North America
held the major market share of around 36% in the year 2015 and will retain
its top position during the forecast period. On the other hand, Asia
Pacific will exhibit highest CAGR of 4% over the forecast period.
Grasp advance
knowledge on global neurodiagnostics industry through in-depth research
insights: www.grandviewresearch.com/research-insights/neurodiagnostics-market-insights-research-initiatives-generate-avenues-for-growth
Sponsor Ads
Created on Sep 4th 2019 07:35. Viewed 591 times.