Neuroscience Market, By Component, By Technology, By End-User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Neuroscience Market size was valued at USD 43,450.3 Million in 2022, expanding at a CAGR of 6.1% from 2023 to 2030.
The scientific study of the nervous system, including its problems and functions, is known as neuroscience. Molecular biology, developmental biology, anatomy, and physiology are all combined in this multidisciplinary field of study. It addresses the entire neurological system, with the brain receiving the most attention.
Neuroscience Market- Market Dynamics
Increasing prevalence of neurological disorders and traumatic brain injuries to propel market demand
the rising incidence of neurological conditions such traumatic brain injuries, brain tumors, Alzheimer's, and epilepsy. The Alzheimer's Association estimates that 6 million Americans already have Alzheimer's, and that number is expected to increase to 13 million by 2050. Moreover, the development of sophisticated technological capabilities has been a major force behind the advancement of the neuroscience sector, and in recent years, there has been a notable acceleration in the rate of research and development of these capacities. To improve our understanding of the brain, the United States, for example, established the Brain study through Advancing Innovative Neurotechnology's (BRAIN) initiative to conduct study and create new investigative techniques.
Furthermore, better management of neurological problems is made possible by the increasing digitalization of healthcare, and this is anticipated to drive the use of advanced neuroscience devices over the course of the forecast period. For example, in May 2023, Australian researchers Dr. Thomas Oxley and Nicholas Opie created a human-brain-computer interface technology that allows patients with severe paralysis to communicate with their thoughts by transmitting data from their brains remotely to operate external digital devices.
Neuroscience Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.1% over the forecast period (2023-2030)
Based on Component segmentation, instruments segment was predicted to show maximum market share in the year 2022, owing to high demand for diagnostic instruments.
Based on Technology segmentation, brain imaging segment was the leading segment in 2022, mainly due to increased demand for brain imaging devices for scan, MRI, etc.
Based on End-User segmentation, diagnostic laboratories segment was the leading segment in 2022, mainly due to increasing demand for neurological diagnosis.
On the basis of region, North America was the leading revenue generator in 2022, owing to high prevalence of neurological diseases.
Neuroscience Market- Segmentation Analysis:
The Global Neuroscience Market is segmented on the basis of Component, Technology, End-User, and Region.
The market is divided into three categories based on Component: instruments, consumables, and software & services. The instruments segment dominates the market. The growing number new product development in instruments are boosting segment growth.
The market is divided into six categories based on Technology: brain imaging, neuro-microscopy, stereotaxic surgeries, neuro-proteomic analysis, neuro-cellular manipulation, and others. The brain imaging segment dominates the market and is likely to maintain its dominance during the forecast period. The high demand for imaging devices and product innovation in scanning is boosting the market growth.
The market is divided into three categories based on End-User: hospitals, diagnostic laboratories, and research & academic institutes. The diagnostic laboratories segment dominates the market and is likely to maintain its dominance during the forecast period. Increased need for early disease diagnosis, diagnostic centers is contributing the market demand.
Neuroscience Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Neuroscience Market- Competitive Landscape:
The Neuroscience market is fragmented with high focus on R&D and new technological innovation. Thus, companies are putting more time into R&D initiatives to new product or solution developments. Further, to remain competent in the industry, the firms are also working to develop high-quality, high-value products in advanced imaging at an optimal cost through comprehensive strategies, R&D activities, and ongoing product developments.
Recent Developments:
In May 2023, the U.S. Food and Drug Administration (FDA) approved clearance to an artificial intelligence (AI) software, Neurophet AQUA, to enhance the assessment of brain atrophy on the MRI.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL NEUROSCIENCE MARKET KEY PLAYERS
Carl Zeiss AG
Danaher Corporation
GE Healthcare
Siemens Healthcare Private Limited
Koninklijke Philips N.V.
Canon Inc.
B. Braun SE
Medtronic plc
Stryker Corporation
Boston Scientific Corporation
Abbott
Kernel
Mightex Systems
Terumo Corporation
Others
GLOBAL NEUROSCIENCE MARKET, BY COMPONENT
Instruments
Consumables
Software & Services
GLOBAL NEUROSCIENCE MARKET, BY TECHNOLOGY
Brain imaging
Neuro-microscopy
Stereotaxic surgeries
Neuro-proteomic analysis
Neuro-cellular manipulation
Others
GLOBAL NEUROSCIENCE MARKET, BY END-USER
Hospitals
Diagnostic laboratories
Research & academic institutes
GLOBAL NEUROSCIENCE MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Neuroscience Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Neuroscience Market Snippet by Component
2.1.2. Neuroscience Market Snippet by Technology
2.1.3. Neuroscience Market Snippet by End-User
2.1.4. Neuroscience Market Snippet by Country
2.1.5. Neuroscience Market Snippet by Region
2.2. Competitive Insights
3. Neuroscience Key Market Trends
3.1. Neuroscience Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Neuroscience Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Neuroscience Market Opportunities
3.4. Neuroscience Market Future Trends
4. Neuroscience Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Neuroscience Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Neuroscience Market Landscape
6.1. Neuroscience Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Neuroscience Market - By Component
7.1. Overview
7.1.1. Segment Share Analysis, By Component, 2022 & 2030 (%)
7.1.2. Instruments
7.1.3. Consumables
7.1.4. Software & Services
8. Neuroscience Market - By Technology
8.1. Overview
8.1.1. Segment Share Analysis, By Technology, 2022 & 2030 (%)
8.1.2. Brain imaging
8.1.3. Neuro-microscopy
8.1.4. Stereotaxic surgeries
8.1.5. Neuro-proteomic analysis
8.1.6. Neuro-cellular manipulation
8.1.7. Others
9. Neuroscience Market - By End-User
9.1. Overview
9.1.1. Segment Share Analysis, By End-User, 2022 & 2030 (%)
9.1.2. Hospitals
9.1.3. Diagnostic laboratories
9.1.4. Research & academic institutes
10. Neuroscience Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
10.2. North America
10.2.1. Overview
10.2.2. Neuroscience Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
10.2.4. North America Market Size and Forecast, By Component, 2018 - 2030 (US$ Million)
10.2.5. North America Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
10.2.6. North America Market Size and Forecast, By End-User, 2018 - 2030 (US$ Million)