Global Neuroscience Market to Reach US$ 46.7 Billion by 2032, Propelled by Growing Prevalence of Neurological Disorders

March 09, 2023 | Healthcare

The latest report by IMARC Group, titled "Neuroscience Market Report by Component (Instruments and Consumables, Software and Services), Technology (Brain Imaging, Neuro-Microscopy, Electrophysiology, Neuroproteomic Analysis, Animal Behaviour Analysis, and Others), End User (Hospitals, Diagnostic Laboratories, Research and Academic Institutes, and Others), and Region 2024-2032," finds that the global neuroscience market size reached US$ 34.8 Billion in 2023. 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$ 46.7 Billion by 2032, exhibiting a CAGR of 3.3% during the forecast period (2024-2032). 

Market Summary:

  • 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Technology, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Neuroscience Market to Reach US$ 46.7 Billion by 2032, Propelled by Growing Prevalence of Neurological Disorders
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