What Fueled The Previous Growth In The Neurology Diagnostic And Monitoring Devices Market?
The neurology diagnostic and monitoring devices market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the market size for neurology diagnostic and monitoring devices in the past few years. The market is projected to rise from $8.52 billion in 2024 to $9.32 billion in 2025, registering a compound annual growth rate (CAGR) of 9.4%.
This growth during the historic period is due to factors such as heightened healthcare spending and investments, a boost in EEG procedures, enhanced healthcare outlay, increased funding in research and development, along with improved diagnostic precision.
What Is The Expected Growth In The Neurology Diagnostic And Monitoring Devices Market Size Evolve over the Forecast Period?
The neurology diagnostic and monitoring devices market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the neurology diagnostic and monitoring devices marketplace is projected to witness significant expansion. The forecasted market cap is projected to reach $13.21 billion by 2029, growing at a compounded annual growth rate (CAGR) of 9.1%.
Factors contributing to the projected growth during this period include government and healthcare-driven initiatives, the rise of personalized medicine, the expansion of telemedicine, growth of healthcare infrastructure, and established regulatory approvals and standards. The anticipated trends in this period are the growth of telehealth, advancements in neurostimulation devices, advances in biomarker discovery and integration, improvements in neuroinformatics and data integration, and progress in nanotechnology.
What Main Forces Are Fueling Expansion In The Neurology Diagnostic And Monitoring Devices Market?
The neurology diagnostic and monitoring devices market is projected to expand due to the growing incidence of neurodegenerative conditions. These disorders, which involve a progressive loss or destruction of nerve cells in the brain and/or spinal cord, have seen a surge due to aging populations, extended life expectancy, and heightened exposure to environmental and genetic vulnerabilities. Diagnostic and monitoring devices for neurology aid in dealing with neurodegenerative diseases by offering accurate, real-time evaluations of brain performance and the advancement of disease, facilitating early detection, personalized treatment strategies, and efficient monitoring of treatment responses. For example, the National Records of Scotland, a governmental institution based in Scotland, reported in September 2023 that there were 6,277 deaths in Scotland in 2022 due to Alzheimer’s and other forms of dementia. This represents a 4% increase from the previous year, which recorded 231 additional deaths. Consequently, the escalating incidence of neurodegenerative diseases is fueling the expansion of the neurology diagnostic and monitoring devices market.
What Are The Primary Segments In The Global Neurology Diagnostic And Monitoring Devices Market?
The neurology diagnostic and monitoring devices market covered in this report is segmented –
1) By Device Type: Electroencephalogram (EEG) Systems, Magnetic Resonance Imaging (MRI) Systems, Computed Tomography (CT) Scanner, Position Emission Tomography (PET) System, Ultrasound Imaging Systems, Other Device Types
2) By Indication: Neurodegenerative Disease, Epilepsy, Stroke, Other Indications
3) By End-User: Hospitals And Surgery Centers, Neurology Centers, Ambulatory Care Centers, Diagnostic Laboratories And Imaging Centers, Research Laboratories And Academic Institutes
Subsegments:
1) By Electroencephalogram (EEG) Systems: Portable EEG Systems, Clinical EEG Systems, Wireless EEG Systems
2) By Magnetic Resonance Imaging (MRI) Systems: Closed MRI Systems, Open MRI Systems, Functional MRI (fMRI) Systems
3) By Computed Tomography (CT) Scanner: Standard CT Scanners, High-Definition CT Scanners, 3D CT Scanners
4) By Position Emission Tomography (PET) System: PET-CT Scanners, PET-MRI Scanners
5) By Ultrasound Imaging Systems: Diagnostic Ultrasound Systems, 3D and 4D Ultrasound Systems, Portable Ultrasound Systems
6) By Other Device Types: Nerve Conduction Study (NCS) Devices, Evoked Potential (EP) Systems, Brain Implants and Neurostimulators
Pre-Book The Neurology Diagnostic And Monitoring Devices Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What New Trends Are Influencing The Neurology Diagnostic And Monitoring Devices Market?
Significant companies in the neurology diagnostic and monitoring devices market are concentrating on creating advanced technologies, like image-guided therapy systems, to improve accuracy in neurovascular operations. The system is a medical tool used for planning, navigating, and implementing a variety of therapeutic procedures, often in real time. For example, Koninklijke Philips N.V, a Netherlands-based health tech firm, unveiled the Azurion neuro biplane system in February 2024 to expedite and enhance the minimally invasive diagnosis and care of neurovascular patients. It boasts of unique features such as advanced C-arm rotation and angulation for improved imaging flexibility, swift shifting between 2D and 3D imaging for optimum workflow, comprehensive table-side control for sterile field maintenance, automatic beam rotation for accurate picture orientation, a new head stabilizer to help in stroke patient care, and integration of artificial intelligence and machine learning to track performance and forecast service issues.
Who Are the Key Players In The Neurology Diagnostic And Monitoring Devices Market?
Major companies operating in the neurology diagnostic and monitoring devices market are:
• Siemens Healthineers
• Koninklijke Philips N.V.
• GE HealthCare Technologies Inc.
• Shimadzu Corporation
• Masimo Corporation
• Nihon Kohden Corporation
• Elekta AB
• Natus Medical Incorporated
• Esaote S.p.A.
• Zynex Medical Inc.
• Canon Medical Systems Corporation
• Neurosoft S.A.
• Cadwell Industries Inc.
• Cogito Brains Inc.
• Blackrock Neurotech Inc.
• Compumedics Limited
• Ceribell Inc.
• Nexstim Plc
• NeuroMetrix Inc.
• Lumos Labs Inc.
• Soterix Medical Inc.
• Advanced Brain Monitoring Inc.
• Sense Neuro Diagnostics Inc.
What Is The Most Dominant Region In The Neurology Diagnostic And Monitoring Devices Market?
North America was the largest region in the neurology diagnostic and monitoring devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurology diagnostic and monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
