The neurodiagnostics market involves detecting or diagnosing neurological disorders through various techniques such as imaging, testing, neuroendoscopy, and others. Neurological disorders like epilepsy, Alzheimer's disease, Parkinson's disease, stroke, multiple sclerosis, and migraine affect millions of people worldwide and their incidence is rising owing to growing aging population and risk factors such as stress, lifestyle changes, and environmental pollutants.

Neurodiagnostics help in analyzing the nervous system function, structure, biochemistry, and related molecular mechanisms to identify and track neurological conditions accurately. Some key advantages of neurodiagnostics include early and precise disease diagnosis, pinpointing abnormal brain regions, monitoring disease progression and treatment outcomes, and enabling objective diagnosis to rule out subjective symptoms. The need for neurodiagnostics is growing owing to increasing neurological patient population requiring timely diagnosis and care.

The Global neurodiagnostics Market is estimated to be valued at US$ 14.91 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.

The key opportunities in the Neurodiagnostics Market  Demand include development of minimally invasive and non-invasive neurological disease diagnostic techniques using advanced imaging technologies like MRI, PET scans, MEG, and computer-aided diagnostics. Growing demand for personalized medicine approach for neurological disorder treatment also presents an opportunity for market players.

Key Takeaways

Key players operating in the Neurodiagnostics market are Koninklijke Philips N.V, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, FUJIFILM Holdings Corporation, Bio-Rad Laboratories Inc., Advanced Brain Monitoring, Inc., Nihon Kohden Corporation, Mitsar Co. LTD., EMS Biomedical, Mennen Medical, Natus Medical Incorporated, Medicaid Systems, Fujirebio, FONAR Corp, ANT Neuro, NEUROLITE AG, and Atlantic Health System. Koninklijke Philips and Siemens Healthcare together hold around 30% of global market share.

Geographical Concentration of Neurodiagnostics Market

In terms of value, North America dominates the global neurodiagnostics market and accounted for the largest share of over 40% in 2024 led by the United States. This can be attributed to factors such as the rising geriatric population, high healthcare spending, availability of advanced testing options and encouraging reimbursement policies in the region. Additionally, ongoing clinical research on neuromonitoring, neurodegenerative disorders and new biomarker discovery in countries like the U.S. also fuel market growth.

Europe is the second largest regional neurodiagnostics market supported by growing awareness about neurological illnesses and rising adoption of advanced equipment across major countries like Germany, United Kingdom and France. Asia Pacific is poised to be the fastest growing market in the coming years. Expanding healthcare infrastructure, heavy government investments and booming medical tourism industry are some key factors driving the APAC neurodiagnostics space. China and India specifically demonstrate high potential for neurotechnology with their vast patient pools and rising disposable incomes. Improving access to diagnostics will be an area of focus in emerging economies to better address their neurology burden.

Fastest Growing Region in the Neurodiagnostics Market

Asia Pacific region is projected to witness the fastest growth over the forecast period in the global neurodiagnostics market. Factors such as rapidly aging populations, increasing incidence of neurological disorders, growing medical capabilities and rising health expenditures are driving broader availability and adoption of neurodiagnostic care across major APAC countries.
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