The brain and neuroimaging devices market consists of sales of brain and neuroimaging devices and related services by businesses that manufacture them. Brain and neuroimaging devices are medical devices used to capture the structure and function of the brain for studying the areas affected by neurological disorders, brain functioning and activity of the brain.
The global brain and neuroimaging devices market is expected to decline from $32.83 billion in 2019 to $31.43 billion in 2020 at a compound annual growth rate (CAGR) of -4.28%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $37.95 billion in 2023 at a CAGR of 6.49%.