Global Neurological Disorder Diagnostics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Neurological Disorder Diagnostics Market: Overview

“The global Neurological Disorder Diagnostics Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Neurological disorder diagnostic tools are medical devices used in diagnosis of various neurological disorders such as Alzheimer’s disease (AD), Multiple Sclerosis, and Parkinson’s disease (PD).

It can be diagnosed by imaging and in vitro diagnostics techniques. Imaging techniques such as Computed Tomography (CT), Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI), etc., are used to create detailed images of bones, organs, blood vessels, soft tissue, and in-vitro diagnostic techniques such as biopsy, biomarker, etc.

Global Neurological Disorder Diagnostics Market: Dynamics

Innovative product launches and approvals of novel neurological diagnostic products is a key factor expected to drive growth of the global market over the forecast period. For instance, in April 2018, Siemens Healthineers received US FDA approval – SOMATOM go.All and SOMATOM go.Top computed tomography (CT) systems.

In addition, increasing research and development activities in order to develop new diagnosis techniques for neurological disorder and strategic collaboration and acquisition activities among manufacturers operating in the global market for enhance product portfolio and global presence are some major factors expected to further fuel growth of the target market over the forecast period. For instance, in March 2018, three companies namely: Canon Medical Systems, Kumamoto University, and University of Bordeaux are entered into collaborative research for development of deep learning technology in magnetic resonance imaging.

However, high cost of diagnostic imaging tools such as MRI machines and CT scan is a key factor expected to restrain growth of the global market over the forecast period.

Currently, increasing adoption of biomarkers in order to diagnose various diseases is ongoing trend observed in the global market, which is expected to support growth of the target market over the forecast period.

Ongoing technological advancements and innovative product launches are expected to create potential revenue opportunities for players operating in the target market over the forecast period.

Global Neurological Disorder Diagnostics Market: Segment Analysis

Among technology, the imaging technology segment is expected to register significant share in terms of revenue over the forecast period, owing to growing awareness of various imaging technologies among people.

Among end user, the hospitals & clinics segment is expected to register highest growth in terms of revenue over the forecast period, owing to availability of advanced treatment facilities.

Global Neurological Disorder Diagnostics Market: Regional Analysis

The market in North America is expected to dominate in the global market and is expected to continue its dominance over the forecast period, owing to increasing adoption new medical devices and well developed healthcare infrastructure across various countries in the region. The market in Europe is expected to register second-highest share in terms of revenue over the forecast period, owing to technological advancements and innovative product launches in countries in this region.

The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to increasing patient pool, rising awareness regarding the availability of advanced treatments, and improving healthcare infrastructure across various countries in the region. The market in Latin America, Middle East and Africa are expected to accounted for moderate growth in the global market over the forecast period.

Global Neurological Disorder Diagnostics Market Segmentation:

Segmentation by technology:

• Imaging
  • Computed Tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Nuclear Medicine Imaging
  • Positron Emission Tomography (PET)
  • Single-Photon Emission Computed Tomography (SPECT)
  • Others [Near Infrared Spectroscopic Imaging (NIRS), Electroencephalography (EEG), Magnetoencephalography (MEG)]
• In Vitro Diagnostics
  • Biomarker
  • Biopsy

Segmentation by disease indication:

• Genetic Neurological Disorders
  • Alzheimer's Disease (AD)
  • Parkinson's Disease (PD)
  • Others [Amyotrophic Lateral Sclerosis (ALS), Huntington's Disease (HD)]
• Immunological Neurological Disorders
• Paraneoplastic Syndrome
• Paraproteinemic neuropathies

Segmentation by end user:

• Hospitals
• Specialty Clinics
• Diagnostic Centers
• Ambulatory Care Centers

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa