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.
Sizing and Forecast
The neuroscience market size has grown strongly in recent years. It will grow from $33.21 billion in 2023 to $35.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased funding for neuroscience research, emergence of neuroinformatics, genomic and proteomic research in neuroscience, public awareness and education, drug discovery and development, global aging population, neuroscience-based education and learning.
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Segmentation & Regional Insights
The 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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the neuroscience market report are 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
The neuroscience market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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