The latest report by IMARC Group, titled "Neuroscience Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global neuroscience market size reached US$ 33.5 Billion in 2022. Neuroscience is the scientific study of the brain and nervous system. It is studied to gain valuable insights into the anatomy of the brain and its physical, neurological, and psychological functioning. It also assists professionals in understanding various factors and strategies to treat and prevent neurological disorders. Over the years, there has been positive growth in the neuroscience market due to the introduction of advanced imaging techniques for identifying neural networks, which play a crucial role in early disease diagnosis and cognitive processes.
Global Neuroscience Market Trends:
The market is primarily driven by the growing prevalence of various neurological disorders, such as Alzheimer's, schizophrenia, Parkinson's disease, and other brain-related conditions. In addition, the escalating demand for neuroimaging devices represents another major growth-inducing factor. Besides this, key players are developing advanced medical devices that offer enhanced operational efficiency and patient compliance to expand their product portfolio and strengthen their foothold in the market. This, coupled with the growing inclination toward advanced neuroscience devices and neuro microscopes over conventional standalone imaging devices, is positively influencing the market growth. Moreover, the market is also propelled by the implementation of favorable government initiatives to spread awareness about neurological diseases and available treatment options. Looking forward, IMARC Group expects the market value to reach US$ 42.2 Billion by 2028, exhibiting a CAGR of 3.7% during the forecast period (2023-2028).
- Based on the component, the market has been bifurcated into instruments and consumables, and software and services.
- On the basis of technology, the market has been classified into brain imaging, neuro-microscopy, electrophysiology, neuroproteomics analysis, animal behavior analysis, and others.
- Based on the end user, the market has been segmented into hospitals, diagnostic laboratories, research and academic institutes, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Alpha Omega Engineering, Biobserve GmbH, Blackrock Neurotech, Doric Lenses Inc., General Electric Company, Kernel, Laserglow Technologies, Mightex Systems, NeuroNexus Technologies Inc., Noldus Information Technology B.V., Plexon Inc., Prizmatix Ltd., and Siemens AG.
|Base Year of the Analysis
||Component, Technology, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alpha Omega Engineering, Biobserve GmbH, Blackrock Neurotech, Doric Lenses Inc., General Electric Company, Kernel, Laserglow Technologies, Mightex Systems, NeuroNexus Technologies Inc., Noldus Information Technology B.V., Plexon Inc., Prizmatix Ltd. and Siemens AG.
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