USA: +1 347 690-0211 | UK: +44 2032 894158 | JAPAN: +81 50 5806 9039 | Translate : 

report img

Neuroscience Market Size, Share, Growth Analysis Report By Component Type (Instruments, Software, and Services), By End User (Hospitals, Diagnostics Laboratories, Research Institutes, and Academic Institutes), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028

Covid-19

Global Neuroscience Market Size, Share

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Insights

[213+ Pages Report] According to Facts and Factors, the global Neuroscience Market size was worth USD 31.80 million in 2021 and is estimated to grow to USD 39.09 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.50% over the forecast period. The report analyzes the Neuroscience Market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the Neuroscience Market.

logoMarket Overview

Numerous scientific fields, including language, computation, philosophy, psychology, and chemistry, are related to neuroscience. The neurotic system is studied from a cellular, operational, behavioural, molecular, evolutionary, and therapeutic perspective. Several technologies are available in the neuroscience market that is used to image the nervous system. The neuroscience market is anticipated to expand over the forecast period due to the accuracy of the equipment used by neuroscientists. The segment uses a variety of methods, including neuro-microscopy and proteomic analysis.

Neuroscience relies heavily on proteomic technologies, which are in high demand due to their accessibility. The development of neuro-microscopy is aided by technological advances, fostering the expansion of the neuroscience market. To understand disease pathways, early disease diagnosis, and cognitive processes, researchers and neuroscientists are increasingly using advanced imaging techniques. The key reason driving the market expansion is the rising fatalities caused by various neurological disorders, including Parkinson's disease, Alzheimer's disease, schizophrenia, and other brain-related conditions. Other significant growth-inducing elements include the rising demand for neuroimaging technologies and the ongoing research and investigation efforts into brain mapping.

The governments of numerous countries are also making positive efforts to raise awareness about neurological illnesses and the available therapeutic choices. Additionally, the market is expanding due to the increased use of microscopy, optogenetics, magnetic resonance imaging (MRI), and electrophysiology tools in diagnosing various neurological illnesses. However, the expensive cost of some instruments and ethical issues with animal testing is anticipated to impede market expansion.

logoCOVID-19 Impact:

As a result of the COVID-19 outbreak, all non-emergent brain imaging procedures and other procedures are expected to come to a halt, which is expected to have a detrimental effect on the neuroscience business. Numerous research papers have been released to show how the pandemic has affected the market under investigation. In most nations, there is now greater urgency to improve mental health services as a result of this pandemic. Despite a solid late-stage product pipeline, the COVID-19 pandemic has also hampered clinical trial procedures, R&D and pipeline products are anticipated to be affected, resulting in modest growth during the projected period.

In addition, people frequently experience anxiety because they are worried about getting sick, losing loved ones, and the pandemic's general unpredictability. As a result, the need for tools and treatments to help individuals manage their anxiety during the covid has surged. This has brought attention to the problem, giving competitors the chance to enter the market.

logoKey Insights

  • Neuroscience Market share value at a CAGR of 3.50% over the forecast period.
  • Growth-inducing elements in Neuroscience Market include the rising demand for neuroimaging technologies and the ongoing research and investigation efforts into brain mapping.
  • The global neuroscience market has been divided into hospitals, diagnostic labs, academic & research organizations, and others based on end users. During the projected period, the diagnostic laboratories market segment is anticipated to dominate the worldwide neuroscience market.

logo Growth Drivers

  • Rising demand for neuroimaging technology for neuro-related diseases

The key driver of market expansion is the rise in fatalities caused by various neurological disorders, including Parkinson's disease, Alzheimer's disease, schizophrenia, and other brain conditions. Other significant growth-inducing elements include the rising demand for neuroimaging technologies and the ongoing research and investigation efforts into brain mapping. The governments of numerous countries are also making positive efforts to raise awareness about neurological illnesses and the available therapeutic choices. Additionally, the market is expanding due to the increased use of microscopy, optogenetics, magnetic resonance imaging (MRI), and electrophysiology tools in diagnosing various neurological illnesses. The leading companies are also developing cutting-edge medical devices with enhanced efficacy and patient compliance to broaden their product offerings and gain a competitive advantage.

logo Restraints

  • Expensive instruments and ethical rules governing the use of animals in clinical trials are major restraints

The availability of animal models for neuroscience research studies is anticipated to be constrained to some extent by ethical rules governing the use of animals in clinical trials. There are laws prohibiting the use of animals in testing and research in several nations. Some neurological gadgets must be tested on animals, which may restrict the market's expansion. To get around the objections against using animals in research, scientists can employ Silico models (computer modeling techniques) or Vitro procedures (using human cells and tissues). Important elements like expensive equipment and animal testing may also restrain the growth of the neuroscience market.

logo Opportunities

  • A key reason for boosting the worldwide neuroscience market's revenue growth is favorable reimbursement for neuroimaging and treatment.

The development of the neuroscience market is anticipated to be boosted by rising government spending on healthcare infrastructure in developed regions. In addition, the neuroscience market will be driven by strategic mergers and alliances between major businesses, particularly in developing cutting-edge, integrated medical devices and software compatible with MRI and neuro microscope equipment. Players with a robust product portfolio, patented technology tailored to and consistent with diagnostic applications, and nearby GMP-certified production facilities, predominate in the acquisitions and collaboration arena. The neuroscience market is also anticipated to develop as people become more aware of the advantages of cutting-edge neuroscience technologies like neuromicroscopes and combinations of other imaging devices with MRIs over traditional standalone imaging devices.

logo Challenges

  • Despite huge investments, very little is still known about the brain and its functioning

The number of new drugs and other therapies is declining and appears to be coming to a halt despite this massive spending. One could argue that "small science" in neuroscience has not been able to take advantage of our knowledge's exponential growth and help society. Additionally, neuroscience has fallen short of many fundamental promises. Despite decades of research, we still have a minimal grasp of the mechanisms connecting microscopic brain structure and function to cognition, behavior, or the broad patterns of activity that we see in imaging investigations. How is the brain able to calculate? What computational tenets enable it to simulate, forecast, understand, and engage with the outside world? How does the brain put these ideas into practice? We need data ladders to address these fundamental concerns since data alone and relationships between data sets are insufficient.

logoSegmentation Analysis

The Neuroscience Market is segregated based on component type and end users.  The market is divided into Instruments, Software, and Services based on component type. Softwares have a dominant share in this particular segment. Compared to Software and services, the instrumentation segment generated a sizeable portion of sales. Nevertheless, this segment has a considerable market share due to its high pricing and availability of cutting-edge technology compared to other markets for neuroscience components. The term "instruments" refers to various tools used in neurology, including MRI, microscopy, optogenetics, and electrophysiological tools. The effective use of these in diagnosing several neurological illnesses has resulted in increased market penetration. During the projection period, profitable revenue generating is anticipated to come from data analysis & services.

Based on end users, the market is divided into Hospitals, Diagnostics Laboratories, Research Institutes, and Academic Institutes. Hospitals are expected to experience the fastest market growth in the predicted time frame. One of the key elements propelling the hospital segment is the growing desire of patients for hospitals to have a better diagnosis of their neurological problems. In addition, hospitals' high standard of care and the accessibility of cutting-edge technology has favorably influenced the segment's growth.

logoReport Scope

Report Attribute

Details

Market Size in 2021

USD 31.80 Million

Projected Market Size in 2028

USD 39.09 Million

CAGR Growth Rate

3.50% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

SCarl ZEISS AG, Danaher Corporation (Leica Microsystems), GE Company, Siemens AG, Koninklijke Philips N.V., Toshiba Corporation, Hitachi Medical Corp., Esaote SpA, HAAG-STREIT Group, Opto fine Instruments Pvt. Ltd., Synaptive Medical, Operating Microscopes, Pridex Medicare Pvt. Ltd., and Others

Key Segment

By Component Type, End User, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

logoRecent Developments

  • NeuroNexus Technologies introduced the NeuroNexus Summa Framework in February 2022. The solution was created for life science researchers and seasoned electrophysiologists who want to quickly integrate electrical signal readouts from biological cells and tissues into their research workflow.
  • With the launch of a new partnership in December 2021, the Brain Tumor Foundation can offer free brain scans to anyone in the country. Swoop, the first portable magnetic resonance imaging (MRI) system to receive FDA clearance, was developed by Hyperfine, Inc., a pioneering medical device company.

logoRegional Landscape

  • Increase in Neuroscience research and funding. North America is expected to hold the largest market share over the forecast period

The market is predicted to be dominated by the rising incidence of brain-related illnesses and the number of developed healthcare systems. In North America, many organizations, universities, and institutes are dedicated to various programs and tasks supporting R&D in the neuroscience field. Furthermore, government agencies are concerned about the number of deaths in the United States. Therefore, there has been an increase in government funding to support the development of the neuroscience sector. Over the course of the forecast period, market growth is anticipated as a result of activity by key market players to bring about technological innovation. Another aspect of market expansion is product approval.

The population growth in Asia and the Pacific has raised people's knowledge of many neurological illnesses. As a result, healthcare spending is increasing in India, China, and Japan, affecting the industry. During the projection period, a substantial market expansion is anticipated in the Asia Pacific region. The prevalence of various neurological illnesses is another important issue that is predicted to increase the need for appropriate diagnosis and care. The neuroscience market is expected to grow as a result.

logoCompetitive Landscape

Key players within the global Neuroscience market include 

  • Carl ZEISS AG 
  • Danaher Corporation (Leica Microsystems) 
  • GE Company 
  • Siemens AG 
  • Koninklijke Philips N.V. 
  • Toshiba Corporation 
  • Hitachi Medical Corp. 
  • Esaote SpA 
  • HAAG-STREIT Group 
  • Opto fine Instruments Pvt. Ltd. 
  • Synaptive Medical 
  • Operating Microscopes 
  • Pridex Medicare Pvt. Ltd.

The global Neuroscience market is segmented as follows:

logoBy Component Type

  • Instruments
  • Software
  • Services

logoBy End User

  • Hospitals
  • Diagnostics Laboratories
  • Research Institutes
  • Academic Institutes

logoBy Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Covid-19

Neuroscience Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • Carl ZEISS AG 
  • Danaher Corporation (Leica Microsystems) 
  • GE Company 
  • Siemens AG 
  • Koninklijke Philips N.V. 
  • Toshiba Corporation 
  • Hitachi Medical Corp. 
  • Esaote SpA 
  • HAAG-STREIT Group 
  • Opto fine Instruments Pvt. Ltd. 
  • Synaptive Medical 
  • Operating Microscopes 
  • Pridex Medicare Pvt. Ltd.

Frequently Asked Questions

The key reason driving the market expansion is the rising fatalities caused by various neurological disorders, including Parkinson's disease, Alzheimer's disease, schizophrenia, and other brain-related conditions. Other significant growth-inducing elements include the rising demand for neuroimaging technologies and the ongoing research and investigation efforts into brain mapping. The governments of numerous countries are also making positive efforts to raise awareness about neurological illnesses and the available therapeutic choices.
The global Neuroscience Marketwas worth USD 31.80 million in 2021 and is estimated to grow to USD 39.09 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.50% over the forecast period.
The market is predicted to be dominated by the rising incidence of brain-related illnesses and the number of developed healthcare systems. In North America, many organisations, universities, and institutes are dedicated to various programmes and tasks supporting R&D in the neuroscience field. Furthermore, government agencies are concerned about the number of deaths in the United States.
Key players functioning in the global Neuroscience market include Carl ZEISS AG, Danaher Corporation (Leica Microsystems), GE Company, Siemens AG, Koninklijke Philips N.V., Toshiba Corporation, Hitachi Medical Corp., Esaote SpA, HAAG-STREIT Group, Opto fine Instruments Pvt. Ltd., Synaptive Medical, Operating Microscopes, Pridex Medicare Pvt. Ltd., and Others.
why choose fnf
key questions answers

Related Reports

report img

Pharmaceutical Market Report 2022 – 2028

[240+ Pages Report] According to Facts and Factors,the pharmaceutical market size was worth USD 1,482.4 million in 2021 and is estimated to grow to USD 2,067.36 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.70% over the forecast period. The report analyzes the pharm...

Published Date : 09-Aug-2022 | | Category : | Pages : 240 | Format : Read more

Inquiry for Buying Request Sample
report img

Oxygen Therapy Market Report 2022 – 2028

[237+ Pages Report] According to Facts and Factors, the global oxygen therapy market size was worth around USD 16,294.10 million in 2021 and is estimated to grow to about USD 28,552.51 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.80% over the forecast period. The r...

Published Date : 09-Aug-2022 | | Category : | Pages : 237 | Format : Read more

Inquiry for Buying Request Sample