The 2018 Neuroscience Market by Component and End-user: Global Industry Analysis, Size, Share, Growth, Trends and Forecast Through 2016-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 20, 2018--The “Neuroscience Market by Component, and by End-user: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” report has been added to ResearchAndMarkets.com’s offering.
The global neuroscience market was valued at around USD 26,350 million in the year 2016 and it is expected to reach approximately USD 34,800 million by 2024. The global neuroscience market is expected to exhibit a CAGR of more than 3.5% between 2017 and 2024.The rise in the occurrences of the neurological disorders globally has triggered the growth of the neuroscience market. There has been a rapid increase in the cases of neurological disorders such as cerebral stroke, Alzheimers disease, epilepsy, and Parkinsonism which has increased the demand for the developments in the field of neuroscience. The demand for the CNS-related diagnostic procedures has increased which has positively affected the growth of the market.Other factors that are expected to drive the market growth positively are favorable reimbursement policies and the growing government spending on the healthcare infrastructure.
The high cost of neurological devices such as magnetic resonance imaging systems will majorly limit the growth of neuroscience market during the forecast period.
By component, the instrument segment accounted for the largest market share in 2016. In instruments segment, the components such as MRI imaging systems, neuro microscopy, and others accounted for the largest market share. The high cost of these instruments has contributed to the increased revenue contribution of this segment in the neuroscience market. Owing to the increased use of the instruments for the diagnosis and treatment of the neurological disorders has positively affected the growth of the instruments segment.
However, software segment is expected to grow with the highest CAGR of more than 35% during the forecast period. Rising trade of neuroscience devices with integrated software for imaging and diagnostics purpose is driving the demand for the software in the neuroscience market.
By end-user, hospitals dominated the end-user segment in 2016 by holding a major market share of above 35%. The increasing preference of patients towards hospitals for better diagnosis of their neurological disorders is one of the major factors driving the hospital segment. The quality treatment facilities offered by the hospitals and the availability of the advanced equipment has positively increased the growth of the segmentHowever, it is anticipated that the diagnostics laboratories segment will register the highest CAGR during the forecast period. Growing neurological disorders and the development of the technologies are the major factors contributing to the growth of the segment.Market Dynamics Drivers The Rise in the Incidence of Cerebral Stroke and Other Severe DisordersAdvancements in Technology Drive the Market Restraints The High Cost of Instruments Opportunities Wearable Technologies
Key Topics Covered
2. Executive Summary
3. Neurosciences - Market Dynamics
4. Global Neuroscience Market - Competitive Landscape
5. Global Neuroscience Market - Component Segment Analysis
6. Global Neuroscience Market - End-user Segment Analysis
7. Global Neuroscience Market - Regional Segment Analysis8. Company ProfilesAlpha OmegaAxionBioSystems, Inc.Blackrock Microsystems LLCFemtonics Ltd.NeuroNexus (Nuvectra)NeurotarNewport CorporationPlexon Inc.Intan Technologies, LLCLaVisionBioTec GmbHNeuralynx, Inc.Scientifica LtdTrifoil Imaging IncThomas Recording GmbHSutter Instrument Corporation
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PUB: 11/20/2018 10:43 AM/DISC: 11/20/2018 10:43 AM