Neurological Disorder Diagnostics Market Size, Share, Growth, and Industry Analysis, By Type (Imaging Techniques and In Vitro Diagnostics Techniques), By Application (Hospitals and Clinics, Diagnostic Centers and Ambulatory Care Centers), Regional Insights and Forecast To 2032

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NEUROLOGICAL DISORDER DIAGNOSTICS MARKET REPORT OVERVIEW

global neurological disorder diagnostics market size was USD 11.37 billion in 2023 and market is projected to touch USD 16.87 billion by 2032 at CAGR 4.1% during the forecast period.

Neurological disorder diagnostics encompass a wide array of tests and procedures crucial for evaluating conditions affecting the nervous system. These diagnostic tools play a vital role for physicians in confirming or ruling out neurological disorders. Electrodiagnostic tests, such as electromyography (EMG) and nerve conduction velocity (NCV), are tailored to assess muscle and motor neuron disorders. Imaging tests, including computed tomography (CT) scans and magnetic resonance imaging (MRI), provide detailed images of the brain and spine. Electroencephalograms (EEGs) record continuous brain electrical activity, aiding in epilepsy diagnosis. Evoked potentials measure the brain's responses, while myelograms enhance the visibility of the spinal canal. Neurosonography employs ultra-high-frequency sound waves for blood flow analysis, particularly in potential stroke cases.

Additionally, polysomnography (PSG) evaluates sleep quality and identifies sleep disorders by recording brain waves, eye movements, muscle tone, respiration, and heart rate. Blood tests examine hormone levels, vitamin B12, and other factors relevant to neurological conditions. Neurophysiology focuses on testing the electrical functions of the brain, spinal cord, and nerves in limbs and muscles. Combining these results with the patient's medical history and symptoms allows physicians to form a comprehensive understanding of the condition, facilitating the development of an optimal treatment plan. Neurological diagnostic tools are integral in accurately diagnosing various neurological disorders, contributing to effective patient care and management.

COVID-19 IMPACT

"Pandemic disrupts the healthcare market by high costs, medicine shortages and equipment gaps"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic has significantly hindered access to healthcare services, particularly for individuals dealing with neurological disorders. Various factors contribute to this disruption, including escalating treatment costs, shortages in essential medicines and equipment, and a shortage of qualified personnel. A crucial aspect of this issue lies in the overwhelming focus on the pandemic within the healthcare sector, causing other conditions to take a backseat unless they pose an immediate threat to life. The diversion of attention and resources toward managing the pandemic has created a challenging environment for those in need of ongoing care and treatment for neurological conditions, intensifying the overall strain on healthcare services.

LATEST TRENDS

"Advancements in biological profiling aim for accurate neurological diagnoses contributing to the market "

The increasing adoption of biological profiling for neurological disease diagnosis is propelled by diverse factors. The intricate nature of neurological disorders, coupled with advances in genomics and proteomics, has catalyzed this trend. Leveraging systems biology, integrating datasets such as genomics, transcriptomics, and metabolomics, proves pivotal in deciphering disease complexity, revealing pathophysiology, therapeutic targets, and early diagnostic biomarkers. Progress in genomics and proteomics is crucial in diagnosing neurodegenerative disorders and expanding the neurodiagnostics market. The rising geriatric population, prone to neurological disorders, heightens the demand for precise early diagnostic methods. Integration of digital technologies, from smartphones to wearables and social media data, innovatively predicts, diagnoses, and monitors brain disorders, intervening in domains such as sleep and cognition. Despite strides, data validation is paramount for accuracy in research and clinical settings. Overall, these advancements target enhanced accuracy, enabling early diagnosis and improved outcomes in neurological disorders diagnostics.

NEUROLOGICAL DISORDER DIAGNOSTICS MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Imaging Techniques and In Vitro Diagnostics Techniques.

• Imaging Techniques: The neurological disorder diagnostics market has witnessed notable advancements in imaging techniques such as MRI, CT scans, and PET scans, enhancing the visualization and identification of neurological pathologies. With a projected highest compound annual growth rate (CAGR), the diagnostic imaging systems segment is set for substantial expansion, fueled by the rising prevalence of neurodegenerative diseases and the increasing demand for advanced imaging technologies. Improved accessibility, driven by a growing number of diagnostic centres and hospitals, is making these advanced imaging techniques more readily available to patients, further accentuating the emphasis on these cutting-edge diagnostic tools.

• In Vitro Diagnostics Techniques: The neurological disorder diagnostics market is characterized by in vitro diagnostic techniques, encompassing electroencephalogram (EEG) systems, electromyography (EMG) products, and clinical testing methods such as PCR and NGS. Fueled by technological advancements, rising neurological disease prevalence, and a growing patient focus on effective and early diagnosis, the demand for in vitro diagnostics products is anticipated to surge. The market's momentum is further propelled by an increasing number of diagnostic centres and hospitals, alongside continuous progress in genomics and proteomics, enhancing diagnostic capabilities for neurological disorders.

By Application

Based on application the global market can be categorized into Hospitals and Clinics, Diagnostic Centers and Ambulatory Care Centers.

• Hospitals and Clinics: Hospitals and clinics, serving as primary diagnostic settings for neurological disorders, offer a comprehensive range of diagnostic services, including both imaging and in vitro diagnostics techniques. With advanced healthcare infrastructure, these facilities are well-equipped to conduct intricate diagnostic procedures such as MRI, CT scans, and EEG tests, ensuring the precise diagnosis of neurological conditions. Emphasizing a patient-centric approach, hospitals and clinics provide comprehensive care, granting access to a multidisciplinary team of healthcare professionals for the accurate diagnosis and effective treatment of neurological disorders.

• Diagnostic Centers: Specialized diagnostic centres excel in delivering a diverse range of diagnostic services, emphasizing advanced imaging and in vitro diagnostics techniques tailored for precise and timely diagnosis of neurological disorders. Offering heightened accessibility and convenience, these centres streamline the diagnostic process, ensuring efficiency for individuals seeking neurological disorder diagnostics. With state-of-the-art diagnostic equipment, these centres facilitate specialized tests and procedures, enhancing accuracy in the diagnosis of various neurological conditions.

• Ambulatory Care Centers: Ambulatory care centres specialize in providing outpatient diagnostic services, encompassing imaging and in vitro diagnostics, offering a convenient and efficient choice for patients seeking neurological disorder diagnostics. With a specific focus on specialized neurological diagnostics, these centres cater to the precise needs of individuals, ensuring accurate and timely diagnoses for various neurological conditions. Embracing an integrated care approach, ambulatory care centres collaborate with other healthcare providers, ensuring a comprehensive and coordinated diagnostic experience for patients with neurological disorders.

DRIVING FACTORS

"Prevalence of neurological disorders demands accurate diagnostics boosting the market"

The escalating incidence of neurological disorders, including Alzheimer's disease, epilepsy, and Parkinson's disease, serves as a pivotal catalyst, demanding precise and timely diagnostic solutions and propelling the global neurological disorder diagnostics market growth. This surge in neurological conditions places a growing burden on healthcare systems, necessitating advanced diagnostic approaches. The demand for accurate and timely diagnostic solutions is intricately tied to the rising prevalence of these disorders, creating a pressing need for effective diagnostic tools and methodologies. As the number of individuals affected by neurological disorders continues to rise, there is an increasing imperative to develop and implement innovative diagnostic solutions that can enhance early detection, intervention, and management of these conditions. The focus on accurate and timely diagnosis in neurological disorder diagnostics becomes paramount in addressing the healthcare challenges posed by the expanding burden of neurological diseases.

"Ageing population drives demand for neurodiagnostics expanding the market"

The expanding elderly demographic, characterized by a growing number of senior citizens, has heightened vulnerability to neurological disorders. This demographic shift has resulted in a surge in the demand for enhanced and early diagnostic approaches. As individuals age, they become more susceptible to various neurological conditions, necessitating a proactive and accurate diagnostic framework. The call for more precise diagnostic methods stems from the recognition of the unique healthcare needs and challenges associated with an ageing population. With neurological disorders often manifesting or intensifying in later stages of life, there is a critical emphasis on developing and implementing diagnostic methods that can efficiently identify and address these conditions in their early stages. Consequently, the imperative to cater to the healthcare requirements of the burgeoning geriatric population has become a driving force behind the quest for more advanced and timely diagnostic solutions in the field of neurology.

RESTRAINING FACTORS

"High diagnostic costs hinder accessibility impacting the market inclusivity"

The prohibitive expense associated with diagnostics in the neurological disorders diagnostic market emerges as a significant restraining factor. The high costs incurred in the diagnostic processes for neurological disorders act as a formidable impediment, limiting accessibility and affordability for many individuals. This financial barrier hinders timely and widespread diagnosis, potentially delaying the identification and intervention of neurological conditions. The economic burden associated with neurodiagnostics can lead to disparities in healthcare access, affecting vulnerable populations disproportionately. Addressing the challenge of the high cost of diagnosis becomes imperative for ensuring equitable healthcare solutions. Overcoming this restraint requires strategic efforts to develop more cost-effective diagnostic methodologies and interventions, promoting inclusivity and enhancing the overall accessibility of neurological disorder diagnostics.

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NEUROLOGICAL DISORDER DIAGNOSTICS MARKET REGIONAL INSIGHTS

"North America leads the market driven by advanced infrastructure and market innovation"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America holds the largest global neurological disorder diagnostics market share, driven by several factors. Its dominance is rooted in a sizable patient population, advanced healthcare infrastructure, and substantial healthcare expenditure. The market benefits from the presence of prominent neurodiagnostic device manufacturers, esteemed research institutes, and specialized academic centres focusing on neurological disorders. Various diagnostic techniques and products, including CT scanners, EEG, fMRI systems, and optical topography systems, dominate the market landscape. The escalating incidence of neurodegenerative diseases, coupled with a growing number of neurological examinations, further fuels the market. North America commands a significant share of the neurology diagnostics devices market, driven by leading industry players and rigorous regulatory approvals, cementing its position as a pivotal contributor to market growth.

KEY INDUSTRY PLAYERS

"Key industry players drive innovations, enhancing neurological diagnostics and shaping the market for improved outcomes"

Key industry players in the market share commonalities in driving advancements. They collectively invest in research and development to innovate diagnostic technologies, focusing on precision and efficiency. With a reach, they contribute to standardizing and broadening accessibility to neurological diagnostics. Offering diverse product portfolios, spanning imaging devices and diagnostic equipment, highlights a commitment to comprehensive diagnostic approaches. Strategic initiatives such as mergers and acquisitions underscore their emphasis on market expansion. Adherence to regulatory standards, collaboration with healthcare institutions, and efforts to enhance accessibility signify a unified commitment to advancing the field and improving patient outcomes in neurological disorder diagnostics.

List of Top Neurological Disorder Diagnostics Companies

• Masimo (U.S.)
• GE (U.S.)
• Siemens (Germany)
• Philips (Netherlands)
• Esaote (Italy)
• Croton Healthcare (India)
• Neusoft (China)

INDUSTRIAL DEVELOPMENT

May 2023: Parkinson's disease (PD) diagnosis, typically reliant on motor symptoms, can now benefit from a study by the University of New South Wales (UNSW) introducing a machine learning (ML) tool. This tool detects PD years before symptom onset by analyzing non-motor symptoms such as constipation and sleep disorders. Current diagnostic accuracy based on motor symptoms is 80%, but ML-enhanced biomarker detection through metabolomics data can increase precision. The study reveals that metabolite profiles, analyzed using advanced ML methods such as neural networks, can indicate PD up to 15 years before clinical diagnosis, presenting a promising avenue for early detection.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.