From GlobeNewswire: 2024-11-11 11:45:00

The neuroscience market is booming, with a value of USD 35.3 billion in 2023 expected to reach USD 50.2 billion by 2032, growing at a CAGR of 4.0%. Increasing awareness of neurological disorders and advancements in medical research are driving this growth, with investments from public and private sectors fueling innovation. Advanced technologies like BCIs and AI are transforming the sector, offering new treatment options and market opportunities. Healthcare spending is also on the rise, reshaping the future of neurological care.

Key companies in the neuroscience market include Johnson & Johnson, Philips Healthcare, GE Healthcare, and more. The market offers substantial potential, driven by the demand for better diagnostic tools and treatments for conditions like Alzheimer’s and mental health issues. AI and machine learning advancements are expected to enhance the accuracy and affordability of diagnosing brain disorders, improving patient outcomes.

The neuroscience market report forecasts a CAGR of 4.0% from 2024 to 2032, with key regional coverage in North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Segmentation by component includes instruments, consumables, software & services, while end-use segments hospitals, diagnostic laboratories, and research institutes. Technology segments cover brain imaging, neuro-microscopy, stereotaxic surgeries, neuro-proteomic analysis, neuro-cellular manipulation, and others.

In 2023, the brain imaging segment led the market with 26.07% share, driven by MRI, EEG, and CT scans’ extensive use in diagnosing neurological conditions. The neuro-microscopy segment is expected to witness significant growth, fueled by ongoing innovations and the development of ultra-small electronic devices for accessing the brain. The market’s future growth is supported by advancements in technology and increasing healthcare spending globally. Danaher Corporation and Carl Zeiss AG are expanding their neuro-microscopy product lines, driving growth in the neuroscience market. In 2023, North America held the largest market share at 32.52%, with companies like Cerenovus expanding stroke care portfolios. The Asia Pacific region is expected to experience rapid growth, fueled by investments in healthcare infrastructure and initiatives like the BRAIN Initiative. Recent developments include Mightex Systems’ new optogenetics system and Alpha Omega Co. USA Inc.’s neurosurgical navigation system. Visit S&S Insider for more market analysis and consulting services.



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