How Has the Digital Health In Neurology Market Evolved Historically and What is its Current Size?
The digital health in neurology market has seen considerable growth due to a variety of factors.
• The digital health in neurology market has seen exponential growth in recent years. It is expected to grow from $44.26 billion in 2024 to $55.07 billion in 2025, at a CAGR of 24.4%.
This growth is due to improved access to care for Parkinson's disease patients via digital tools, the use of big data in neurology, the integration of digital tools with neurogenetics research, and the rise of telemedicine for movement disorders.
What Is The Projected Growth Of The Digital Health In Neurology Template Market?
The digital health in neurology market is expected to maintain its strong growth trajectory in upcoming years.
• The digital health in neurology market is projected to grow exponentially, reaching $130.22 billion by 2029 with a CAGR of 24.0%.
This growth is fueled by advancements in AI, telemedicine expansion, remote monitoring, and genomics integration. Trends include patient-centered solutions, remote care focus, AI-powered diagnostics, and preventative measures.
What Are The Key Drivers Fueling Growth In The Digital Health In Neurology Market?
The rising incidence of neurological disorders is expected to accelerate the growth of the digital health in neurology market. Neurological disorders impact the nervous system, including the brain and spinal cord. This increase is influenced by factors such as the aging population, lifestyle changes, genetics, and better diagnosis and survival rates for traumatic brain injuries (TBIs). Digital health solutions in neurology help with remote monitoring, personalized treatment, and early detection of disorders, improving patient care. For instance, in October 2023, the World Federation of Neurology reported that over 40% of the global population suffers from a neurological condition, with this number expected to nearly double by 2050. Additionally, the global death toll from strokes is estimated at 9.7 million annually, set to increase by 50% by 2050. Therefore, the rising prevalence of neurological disorders is driving the growth of digital health in neurology.
What Are The Principal Market Segments In The Global Digital Health In Neurology Industry?
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
Subsegments:
1) By Software: Neurological Monitoring Software, Diagnostics Software, Data Analytics Software, Treatment Management Software
2) By Hardware: Wearable Devices, Neurostimulators, Brain-Computer Interface Devices
3) By Diagnostic Equipment: (Not Specified In The List)
4) By Services: Telemedicine Services, Remote Monitoring Services, Consultation Services, Data Management And Analytics Services
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Which Emerging Market Trends Are Altering The Digital Health In Neurology Industry?
Companies in the digital health in neurology market are focusing on developing neural interfaces to gain a competitive edge. A neural interface enables direct communication between the brain and external devices, improving treatment for neurological disorders. For example, in November 2022, Blackrock Neurotech introduced Neuralace, a next-generation neural interface featuring over 10,000 channels and a flexible electrode design. This technology offers advancements in brain-computer interface (BCI) technology, aiding in treatments for vision and memory restoration, performance prediction, and mental health disorders.
Who Are the Key Players In The Digital Health In Neurology Market?
Major companies operating in the digital health in neurology market are:
• Neuralink Corp.
• Neuronetics Inc.
• NeuroPace Inc.
• Synaptive Medical
• Cala Health
• Magstim Co Ltd.
• MindMaze
• MicroTransponder Inc.
• Neuroelectrics
• Pear Therapeutics Inc.
• electroCore Inc.
• NeuroMetrix Inc.
• Blackrock Neurotech
• AppliedVR
• Neurable Inc.
• BitBrain
• NeuraLight Inc.
• Axorus
• Omniscient Neurotechnology Pty Limited
• NervGen Pharma Corp.
• Cortechs Labs Inc.
• Brain.fm
• Hippoc
What Are The Regional Insights Into 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.
