January 6, 2021

NEUROSCIENCE MARKET ANALYSIS

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) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Neuroscience is the study of nervous system, which is related to evaluating and imaging of the brain activity. Neuroscience is a broad term, which focuses on molecular, cellular, developmental, structural, functional, evolutionary, computing, psychosocial, and medical aspects of the nervous system. The advancement in biology, pharmaceutical science, medicine, cognitive science, biomedical engineering is evolving neuroscience. Neuroscience have application in variety of areas for better understanding of pathophysiology and symptoms various for chronic neurological disease such as epilepsy, and Alzheimer disease. This in turn aids in developing novel treatment for these diseases.

Various research activities such as investigating neural activity, disease modeling, safety and toxicity studies, and drug discovery are performed with the help of neuroscience instruments such as CT scan, MR Imaging, microscopes, signal processing system, brain neuron interface system, other recording, and stimulation solutions.

Furthermore, growing number of neurological disorder cases are expected to boost growth of the market over the forecast period. For instance, according to the World Health Organization, in September 2019 there were around 50 million people who had dementia and around 10 million new cases are added every year.

Market Dynamics

The neuroscience market is expected to witness significant growth over the forecast period, owing to increasing number of neurological disease cases. For instance, according to the World Alzheimer Report 2015 published by Alzheimer’s disease International (ADI), states that globally there were nearly 9.9 million new cases of dementia in 2015 and 46.8 million people were living with dementia in 2015 worldwide. The World Alzheimer Report 2015, also estimates that the number of cases will reach around 74.7 million by 2030 and 131.5 million by 2050.

Product approvals by regulatory authorities are expected to drive growth of neuroscience market over the forecast period. For instance, in August 2017, Siemens Healthineers received certification mark (CE) approval for the 7 Tesla magnetic resonance (MR) scanner Magnetom Terra, an ultra-high-field MR scanner for neurological and musculoskeletal examinations. Moreover, in June 2018, Royal Philips received the 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Ingenia Elition 3.0T MR solution and two clinical applications, Philips Compressed SENSE and 3D APT. This solution helps clinicians to perform examination up to 50.0% faster, increase diagnostic efficacy, and enhance the patient experience.

Market players are focused on launching technologically advanced products in the market, which is expected to fuel the market growth over the forecast period. For instance, in November 2018, GE Healthcare launched Edison platform with artificial intelligent applications at Radiological Society of North America (RSNA) 2018 This novel platform with AI apps will support hospitals to develop algorithms and manage data for imaging and precision medicine. These apps includes AIRx, tool for MRI brain scanning and others.

Key features of the study:

  • This report provides in-depth analysis of the neuroscience market and provides market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global neuroscience market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as part of this study 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.
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global neuroscience market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the neuroscience market

Detailed Segmentation:

  • Global Neuroscience market, By Component:
    • Instruments
    • Software
    • Services
  • Global Neuroscience market, By End User:
    • Hospitals
      • Diagnostic Laboratories
      • Research Institutes
      • Academic Institutes
  • Global Neuroscience market, By Region:
    • North America
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institute
        • Academic Institutes
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country/Region:
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Alpha Omega, Inc.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • 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
    • Trifoil Imaging Inc

“*” marked represents similar segmentation in other categories in the respective section.

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