What Is The Scope Of The Global Digital Health In Neurology Market?
Digital health in neurology refers to integrating technology into neurological care, encompassing telemedicine, wearable devices, mobile applications, electronic health records It aims to enhance patient monitoring, diagnosis, treatment, and management of neurological conditions through remote access, data analytics, and personalized interventions.
Digital Health In Neurology Global Market Report 2024 provides data on the global digital health in neurology market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The digital health in neurology market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Digital Health In Neurology Market?
The digital health in neurology market has grown rapidly, expanding from $35.74 billion in 2023 to $44.26 billion in 2024, with a CAGR of 23.8%. This growth has been driven by enhanced access to care for Parkinson’s disease patients via digital tools, advancements in computational health, integration with neurogenetics research, and the adoption of telemedicine for movement disorders. The market is expected to reach $105.10 billion by 2028, growing at a CAGR of 24.1%. Factors supporting future growth include advancements in AI and machine learning, the expansion of telemedicine, wearable technology, big data integration, and regulatory advancements. Emerging trends include a focus on patient-centered solutions, remote monitoring, AI-driven diagnostics, personalized treatments, and preventative measures.
What Are The Core Factors Supporting Growth In The Digital Health In Neurology Market?
The increasing prevalence of neurological conditions is set to drive the growth of digital health in neurology. Neurological disorders, affecting the brain, spinal cord, and nerves, are on the rise due to aging populations, lifestyle changes, genetics, and improved awareness. Digital health technologies offer remote monitoring, personalized treatment, and early detection of these disorders, enhancing patient care. For example, the World Federation of Neurology reported in October 2023 that over 40% of the global population suffers from neurological conditions, with numbers expected to nearly double by 2050. This rising prevalence is fueling the growth of digital health solutions in neurology.
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What Are The Major Segments Within The Global Digital Health In Neurology Market?
The digital health in neurology market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Indication: Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Epilepsy, Other Indications
3) By End-Use: Patients, Providers, Payers, Other End-users
Which Trends Are Expected To Transform The Digital Health In Neurology Market?
Innovative technology, such as neural interfaces, is a focus for companies in the digital health in neurology market. Neural interfaces facilitate direct communication between the brain and external devices, enhancing control and feedback capabilities. In November 2022, Blackrock Neurotech, a US-based biotechnology company, launched Neuralace, a next-generation brain-computer interface (BCI) technology. Featuring over 10,000 channels and flexible electrodes, Neuralace advances neurological treatments by enabling precise data capture for vision restoration, memory enhancement, and mental health applications.
What Is The Fastest Growing Region In The Digital Health In Neurology Market?
North America was the largest region in the digital health in neurology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital health in neurology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
