Global Neuroscience
Market, by Component (Instrument, Software, and Services), by End User
(Hospital, Diagnostic Laboratories, Research Institutes, and Academic Institutes),
and by Region (North America, Latin America, Europe, Asia Pacific, Middle East,
and Africa), was valued at US$ 27,630.13 million in 2018, and is expected to
exhibit a CAGR of 3.9% over the forecast period (2019-2027), as highlighted in
a new report published by Coherent Market Insights.
Neurological disorders are the
diseases of central and peripheral nervous system. These disorders include
epilepsy, Alzheimer disease and other dementias, cerebrovascular diseases
including stroke, migraine, and other headache disorders, multiple sclerosis,
Parkinson's disease, neuroinfections, brain tumors, traumatic disorders of the
nervous system due to head trauma, and neurological disorders as a result of
malnutrition. These diseases are also affected by various infections such as
bacterial (Mycobacterial tuberculosis and Neisseria meningitides), viral (Human
Immunodeficiency Virus (HIV), Enteroviruses, West Nile Virus, and Zika), fungal
(Cryptococcus, and Aspergillus), and parasitic (malaria and Chagas). These pathogens
has potential to affect the nervous system, which leads to neurological
symptoms due to the infection itself or weaken immune response of the
individuals.
Increasing incidence of
neurological disorders is expected to propel growth of the market over the
forecast period. For instance, according to the World Health Organization
(WHO), a report published, in 2016, globally there are 7.7 million new cases of
dementia every year. Moreover, Alzheimer disease-being the most common cause of
dementia, contributes to 60.0-70.0% of such cases. Furthermore, according to
the Mindgardens Neuroscience Network, in 2017, in Australia, the leading cause
of disability is mental health and neurological disorders, which accounted for
20.5% of total Australian daily adjusted life years (DALYs).
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Key players in the market are
focused on launching new products, which in turn is expected to boost the
market growth during the forecast period. For instance, in August 2017, GE
Healthcare launched Signa Premier, a new wide bore 3.0T magnetic resonance
imaging (MRI) system in the U.S. This system delivers a new level of clinical
performance with additional research-focused capabilities, especially for neurology
and oncology research.
Browse 23 Market Data Tables and
26 Figures spread through 165 Pages and in-depth TOC on “Neuroscience Market” -
Global forecast to 2027, by Component (Instrument, Software, and Services), by
End User (Hospital, Diagnostic Laboratories, Research Institutes, and Academic
Institutes), and by Region (North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa)
Asia Pacific is expected to offer
lucrative market opportunity in the Neuroscience market over the forecast
period, owing to rising incidences of CNS disorders in the region. For
instance, according to the National Center for Biotechnology Information (NCBI),
an article published in 2018 reports that the burden of dementia in Japan is
growing and it is expected that 1 in 5 elderly people will suffer from dementia
in Japan by 2025
Moreover, increasing patient pool
of neurological disorders in this region is expected to drive growth of the
market over the forecast period. For instance, according to the Mindgardens
Neuroscience Network, the total prevalence of neurological disorders in 2017 in
Australia were 10.6 million (43.0%) followed by mental health disorders of 4
million (16.3%), and substance disorders of 0.8 million people (3.2.0%).
Browse Research
Report: https://www.coherentmarketinsights.com/market-insight/neuroscience-market-2487
Key Takeaways of the Neuroscience
Market:
The global neuroscience market is
expected to exhibit a CAGR of 3.9% over the forecast period, owing to
increasing product development and product approvals that are expected to boost
growth of the neuroscience market over the forecast period. For instance, in
July 2019, INSIGHTEC (Israel) and GE Healthcare (U.S.) received an approval
from the U.S. Food and Drug Administration (FDA) and Conformité Européenne (CE)
mark for its Exablate Neuro with the SIGNA Premier MRI. The product offers
focused ultrasound treatment options for neurology.
Among component, instrument
segment held dominant position in the neuroscience market in 2018, owing to
better results in with less time which is leading to product development and
launches. For instance, in September 2015, Codman Neuro (Division of DePuy
Synthes) launched CODMAN CERTAS plus programmable valve. The product is an
MRI-resistant programmable valve with eight different pressure settings, which
supports to treat hydrocephalus.
Among end user, hospitals segment
held dominant position in the neuroscience market in 2018, owing to rising
number of population with neurological disorders. For instance, according to
the Mindgardens Neuroscience Network, globally in 2017 the total burden of
neurological, mental health, and substance abuse disorders accounted for 11.1%
of the total burden of disease.
Companies operating in the global
neuroscience market include Alpha Omega, Inc., GE Healthcare, Axion Biosystems,
Inc., Siemens Healthineers, Scientifica Ltd., Blackrock Microsystems LLC,
Femtonics Ltd., LaVision Biotec GmbH, Intan Technologies, NeuroNexus
Technologies, Inc., Newport Corporation, Neuralynx Inc., Plexon Inc., Mediso
Medical Imaging Systems, Noldus Information Technology, Sutter Instrument
Corporation, Thomas Recording GmbH, and Trifoil Imaging Inc.
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report: https://www.coherentmarketinsights.com/insight/buy-now/2487
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services, and competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar
opportunity.
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