Global Neuroscience market report 2024, Forecast To 2033
4 Mar, 2024
The neuroscience market has demonstrated robust growth, increasing from$33.21 billion in 2023 to$35.28 billion in 2024, with a compound annual growth rate (CAGR) of 6.2%. This growth is attributed to increased funding for neuroscience research, the emergence of neuroinformatics, genomic and proteomic research in neuroscience, public awareness and education, drug discovery and development, the global aging population, and neuroscience-based education and learning. Forecasts suggest strong growth, with the market expected to reach$46.21 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 7.0%. Factors driving this growth include precision medicine in neurological treatments, expansion of neuropharmacology, neuroinformatics for big data management, patient-centric approaches in neurological care, global health initiatives for neurological disorders, innovations in neurological diagnostics, and ethical considerations and guidelines. Major trends in the forecast period encompass brain imaging technologies, neurostimulation therapies, artificial intelligence in neuroscience, brain-computer interface (BCI) technology, telemedicine in neurology, collaboration between industry and academia, and cross-disciplinary approaches.
Global Neuroscience Market Key Driver
The rising geriatric population is expected to propel the neuroscience market. Adults 65 years and older are referred to as members of the geriatric population. Due to lowered immunity and advanced age, the elderly population is susceptible to many diseases including neurological disorders. Lumbar arthrosis and dementia are the most common neurological disorders in older people, which can be treated through neuroscience. For instance, according to a 2020 report from the UN Department of Economic and Social Affairs, the population over the age of 65 is expected to increase from 9.3% in 2020 to almost 16.0% in 2050. According to a factsheet published by the World Health Organization in October 2021, there will also be 1.4 billion people over the age of 60 in the world by 2030, up from 1 billion in 2020. Thus, the rising geriatric population is driving the neuroscience market. The neuroscience market is forecasted to reach a value of $XX billion by 2023, with sustained growth expected through 2024 and 2028.
Get A Free Sample Of The Global Neuroscience Market ReportGlobal Neuroscience Market Segments
The global neuroscience market covered in this report is segmented –
1) By Type: Neuro-Microscopy, Electrophysiology Technologies, Neuro-Cellular Manipulation, Whole Brain Imaging, Other Types
2) By Service: Instruments And Consumables, Software And Services
3) By End User: Hospitals, Diagnostic Labs, Research And Academic Institutes
By Geography: The regions covered in the neuroscience market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the neuroscience market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuroscience market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Neuroscience Industry Players
Alpha Omega Inc., General Electric Company, Siemens Healthineers AG, NeuroNexus Technologies Inc., Doric Lenses Inc., Blackrock Neurotech, Axion Biosystems Inc., Femtonics Ltd., Carl Zeiss AG, Danaher Corporation (Leica Microsystems), Koninklijke Philips N.V., Toshiba Corporation, Hitachi Medical Corporation, Scientifica Ltd., Intan Technologies Inc., Laserglow Technologies Inc., Mightex Systems, Neuralink Corporation, Kernel Corporation, BrainCo Inc., MindMaze Inc., Paradromics Inc., NeuroPro Inc., NeuroSky Inc., EMOTIV Inc., Cercare Medical A/S, Plexon Inc., Noldus Information Technology bv, Neuralynx Inc., Vigil Neuroscience
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Neuroscience Market Overview
Neuroscience is the study of the human nervous system and brain, which employ cellular, and molecular biology, anatomy and physiology, human behavior and cognition, and other fields to map the brain mechanistically. Neuroscience is used in developing drugs and other treatment and prevention methods for these and aids many other health problems.
Neuroscience Global Market Report 2023 provides data on the global neuroscience market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The neuroscience market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.