Global Neuroprosthetics Market

The magnetic resource imaging devices and equipment market consists of sales of magnetic resource imaging systems devices and equipment and related services. Magnetic resonance imaging (MRI) systems are imaging machines used to form pictures of inflammation or infection in an organ, degenerative diseases, strokes, musculoskeletal disorders, tumors, and other irregularities that exist in tissue or organs in a body. MRI systems use a fixed or static magnetic field and radio frequency signals to visualize anatomy, tissue characteristics, vascular flow, chemical composition of tissues, and perfusion and diffusion of tissues.

The global magnetic resonance imaging devices and equipment market is expected to decline from $8.1 billion in 2019 to $6.6 billion in 2020 at a compound annual growth rate (CAGR) of -18.8%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. The governments across the countries prioritized covid-19 screening and imaging is not routinely used to screen for COVID-19. Also, most of the factories manufacturing diagnostic imaging equipment such as X-ray systems, ultrasound systems, computed tomography (CT) scanners, and MRI systems and/or their components, are currently shutdown inorder to keep the staff safe and contain the spread. The market is then expected to recover and grow at a CAGR of 6.2% from 2021 and reach $10.2 billion in 2023.

In 2018, North America was the largest region in the magnetic resonance imaging devices and equipment market. This region is expected to remain the largest during the next five years. The magnetic resonance imaging devices and equipment market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.

Changes in the lifestyle, technological advancement and increase in number of chronic diseases are increasing the demand for the diagnostics, driving the growth of MRI systems market. Magnetic resonance imaging (MRI) systems are used to produce three dimensional detailed anatomical images of the human body facilitating diagnosis, disease detection and treatment monitoring. The rising health concerns are increasing the demand for medical imaging technologies in healthcare centers for diagnosis. For instance, in India, 150,000 health and wellness centers with a budget of $ 1.8 billion enable the healthcare system more accessible. Increasing health consciousness and importance to health insurance is also causing significant growth in the market. For instance, in the USA, the number of uninsured dropped from 48.6 million in 2010 to 29.3 million in 2017 indicating an increase in the health concerns of the people.

Strict approvals and regulations by government bodies such as US Food and Drug Administration (FDA) is hampering the growth of magnetic resonance imaging systems, devices and equipment market. MRI systems manufacturers are required to comply several regulations in the form of device quality check, labeling, premarket approval, device investigation and reporting, apart from the regular registration process. Due to these stringent regulations, many manufacturers prefer to outsource the manufacturing to other countries where no such regulations are imposed. For instance, in July 2017, the European Medicines Agency (EMA), restricted the use of some linear gadolinium agents used in MRI body scans and to suspend the authorizations of others, as the gadolinium deposits are found in the brain after MRI scans. EMA has recommended these restrictions and suspensions in order to prevent any risks that could potentially be associated with gadolinium brain deposition.

Companies in the magnetic resonance imaging devices and equipment market are increasingly investing in advanced MRI imaging technologies to enhance their diagnosis and to reduce orders for rescans. The advanced MRI systems such as Multi contract MRI scanners, silent MRI Scanning technologies and others allow radiologists to modify patient`s image contrast after scanning, which is not possible with conventional imaging systems. For instance, in October 2017, the FDA cleared the first 7T MRI system, The Magnetom Terra from Siemens Healthineers, to strengthen the static magnetic field in the USA. Companies in the industry are collaborating to enhance technological advancements in the MRI systems and devices market. In September 2016, GE Healthcare collaborated with SyntheticMR AB to launch MAGiC (MAGnetic resonance image Compilation) software, the industry’s multi-contrast MRI system.

The EU agencies and US-FDA require 3 to 7 years along with all parts of the registration dossier to be submitted to approve the medical devices. The US-FDA assess each technical section for 6 months which may increase to another 6 months cycle if questions/concerns are raised. However, the technical sections’ assessment is done simultaneously and therefore the manufacturers should identify the time taking processes and plan the work accordingly and plan estimated date of approval. Also, the license validity and renewal of the application in EU region takes a toll on the manufacturer and adds to the existing regulatory burden. Therefore, the manufacturers of MRI systems, devices and equipment should plan well, communicate effectively in order to minimize the costs and reduce timelines.

Neurosurgery devices and equipment are used to perform neurosurgical procedures that are concerned with the diagnosis, prevention, and treatment of disorders affecting any portion of the nervous system. The main device types of neurosurgery devices and equipment are the neuroendoscope, stereotactic systems, aneurysm clips, neurostimulation devices, cerebrospinal fluid management devices, neurosurgical evacuation devices, neurosurgical navigation systems, neurosurgery surgical power tools, and others (ultrasonic aspirators, surgical instruments). The neuroendoscope is a device that allows neurosurgeons to perform less invasive procedures and surgical approaches in a manner that minimizes disruption to surrounding tissues. The surgery types are intracranial surgery, endonasal neurosurgery, and spinal surgery. The various end-users are hospitals and ambulatory surgical centres. The neurosurgery devices and equipment market research report is one of a series of new reports from The Business Research Company that provides neurosurgery devices and equipment market statistics, including neurosurgery devices and equipment industry global market size, regional shares, competitors with a neurosurgery devices and equipment market share, detailed neurosurgery devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the neurosurgery devices and equipment industry. This neurosurgery devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global neurosurgery devices and equipment market size will grow from $7.17 billion in 2022 to $8.12 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neurosurgery devices and equipment market size is expected to grow to $12.93 billion in 2027 at a CAGR of 12.3%. The rise in neurological disorders is driving the neurosurgery devices market. A neurological disorder is caused due to the effect on the nervous system which includes the spinal cord, and brain. These disorders include epilepsy and Alzheimer's. According to an article on US Pharmacist, out of the most common neurological disorders, stroke accounts for 51.3%, Alzheimer’s disease 21.4%, Epilepsy 11.6%, traumatic brain injury 6.8%, Parkinson’s disease 4.7%, and brain tumor 2.8%. Furthermore, 1.2 million people are frequently diagnosed with adult-onset brain disorders. An increase in these disorders is driving the growth of the neurosurgery devices and equipment market. According to the Alzheimers Association, millions of Americans have Alzheimer’s or other dementias. As the size and proportion of the U.S. population age 65 and older continue to increase, the number of Americans with Alzheimer’s will grow from 6.2 million in 2021 to 13.8 million by 2060. The stringent US FDA approval process is restraining the Neurosurgery devices market. US FDA takes around 6 months to approve the premarket submissions to demonstrate the device and check if the device is safe and effective. Most of the neurosurgery devices should get premarket approval from the FDA before entering into the market. For example, In the US, only 2,800 (31%) medical devices have cleared the FDA premarket submissions, and the remaining 69% are rejected. However, the technical sections’ assessment is done simultaneously and therefore the manufacturers should identify the time taking steps and plan the work accordingly and plan an estimated date of approval. Also, the license validity and renewal of the application take a toll on the manufacturer and add to the existing regulatory burden. Therefore, the manufacturers of neurosurgical devices should plan well and communicate effectively to minimize the costs and reduce timelines. Minimally invasive surgical procedures and approaches are the new frontiers in neurosurgery as they result in less pain than open surgeries, shorter recovery times, less scarring, increase surgeon mobility and reduce equipment costs. Neuroendoscopy is a minimally invasive neurosurgical procedure performed through neurosurgery devices to correct hydrocephalus, remove tumors, treat vascular disease, and manage other disorders. Neurosurgery device manufacturers are innovating and integrating technologies for advanced endoscope-assisted neurosurgery to provide efficient minimally invasive surgeries, operative procedures, clinical advances, and new technological developments. For instance, end-users such as hospitals, ambulatory surgical centres, and others are using smartphones with endoscopes for performing safe and efficient endoscope-assisted neurosurgery. In New York-Presbyterian Hospital/Columbia University Medical Center, minimally invasive neurosurgeries are preferred over open surgeries with the help of specialized instruments and technologies such as a camera-assisted endoscope, high-powered operating microscope, computer-assisted navigation system, and others to treat conditions in adults and children. The European Commission adopted two new regulations for medical devices to enhance safety, take effective measures in the event of concerns, and improve traceability. These regulations provide the medical device manufacturers with a stronger mandate for assessment of medical devices by independent notified bodies, a unique identification number for improving traceability throughout the supply chain, availability of clinical data on devices, and provides a central database to provide patients, healthcare professionals and the public with comprehensive information on products. These rules help manufacturers to meet the standards, safety requirements and to make better-informed decisions. Major players in the neurosurgery devices and equipment market are Medtronic, Boston Scientific Corporation, Stryker, Conmed Corporation, Smith & Nephew, Integra LifeSciences, Olympus Corporation, NICo., Karl Storz GmbH & Co. KG, and Richard Wolf GmbH. North America was the largest region in the global neurosurgery devices and equipment market in 2022. Asia-Pacific was the second-largest region in the neurosurgery devices and equipment market. The regions covered in the global neurosurgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the neurosurgery devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The neurosurgery devices and equipment market consists of sales of neurostimulation devices, neuroendoscope, cerebrospinal fluid management devices, neurosurgical evacuation device, neurosurgery surgical power tools, ultrasonic aspirators, and surgical instruments. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global neurosurgery devices and equipment market is segmented - 1) By Device Type: Neuroendoscope, Stereotactic Systems, Aneurysm Clips, Neurostimulation Devices, Cerebrospinal Fluid Management Devices, Neurosurgical Evacuation Device, Neurosurgical Navigation Systems, Neurosurgery Surgical Power Tools, Others(Ultrasonic Aspirators, Surgical Instruments) 2) By Surgery Type: Intracranial Surgery, Endonasal Neurosurgery, Spinal Surgery 3) By End User: Hospitals, Ambulatory Surgical Centers

Electrosurgical devices and equipment are used for cutting, sealing, and coagulating tissue during a variety of open and laparoscopic surgical procedures. The main products of the electrosurgical devices are electrosurgery generators, electrosurgery instruments and accessories, argon, and smoke management systems. Electrosurgery generators facilitate therapeutic endoscopy by supplying the high-frequency electrical current required to use endoscopic accessories. The applications involved are general surgery, gynecology surgery, urologic surgery, orthopedic surgery, cardiovascular surgery, cosmetic surgery, and neurosurgery. The various end-users are hospitals, specialized clinics, and ambulatory surgery centres. The electrosurgical devices market research report is one of a series of new reports from The Business Research Company that provides electrosurgical devices market statistics, including electrosurgical devices industry global market size, regional shares, competitors with a electrosurgical devices market share, detailed electrosurgical devices market segments, market trends and opportunities, and any further data you may need to thrive in the electrosurgical devices industry. This electrosurgical devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electrosurgical devices and equipment market size will grow from $8.7 billion in 2022 to $9.39 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electrosurgical devices and equipment market size is expected to grow to $11.45 billion in 2027 at a compound annual growth rate (CAGR) of 5.1%. The increasing prevalence rate of chronic diseases contributed significantly to the growth of the electrosurgical devices and equipment market. The electrosurgical devices are used in the surgery of many life-threatening diseases such as skin cancer, small basal cell carcinomas, squamous cell carcinoma, wound surgery, skin surgery, non-cancerous moles, dentistry, and others. There has been an increase in the number of skin diseases worldwide. For example, in 2021, according to the American Cancer Society, approximately 608,570 Americans died from cancer which was almost 1600 deaths per day.. According to WHO, the global burden of major chronic diseases currently accounts for 43% of all diseases and is set to rise to 60% by 2020. According to a United Nations’ report on world population aging, globally the 60+ aged population is projected to grow by 56% to reach 1.4 billion. The growth of the aging population and rising chronic disease incidence will contribute to increased hospitalization. The increase in the patient pool is expected to rise the demand for electrosurgical devices and equipment. The high incidence of product recalls is one of the factors restraining the electrosurgical devices and equipment market growth. The medical device industry is seeing a significant spike in product recalls during recent years due to defective devices, software issues, mislabeling issues, and quality issues. The electrosurgical devices and equipment market is a minor part of the medical device market and hence, product recall in the electrosurgical market is quite often. For example, in October 2021, Xodus Medical recalled its electrosurgical tip cleaner due to the issue with pouch seal and steril barrier in the tip cleaner. Zimmer Biomet, a medical device company recalled it is class 1 SPF PLUS-Mini and SPF XL IIB Implantable Spinal Fusion Stimulators due to high levels of potentially harmful chemicals which may be toxic to tissues and organs. FDA Safety Communication notice was Magellan Diagnostics and LeadCare of Meridian Bioscience, Inc. for its LeadCare Testing Systems for giving inaccurate test results. Electrosurgery is the application of a high-frequency electric current on biological tissue to create. Technological advances have led to the development of modern ESUs that deliver the medically useful thermal effect. This system is capable of continuously monitoring current and voltage, deriving parameters such as power and tissue resistance, and analyzing them. Depending on the desired treatment outcome, these devices can also keep the operating parameters constant or change them in a targeted manner through control and regulation. Electrosurgical equipment manufacturers should consider investing ESUs to increase market share in the market. The regulatory changes related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures, and other regulatory changes are leading to increased costs of electrosurgical equipment product development and supply to healthcare services organizations. The GDPR is an EU law on the data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA). It also regulates the export of personal data outside the EU and EEA areas. According to a report by Ernst and Young, Fortune 500 companies are spending $7.8 billion to comply with GDPR. In the USA, the U.S. Department of Health and Human Services and Center for Devices and Radiological Health are regulating electrosurgical devices under US FDA. There are two main ways that manufacturers can follow for premarket approval. One way consists of conducting clinical studies and submitting a premarket approval (PMA) application that includes evidence providing reasonable assurance that the device is safe and effective. The other way involves submitting a 510(k) notification demonstrating that the device is substantially equivalent to a device already on the market (a predicate device) that does not require a PMA. The FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. The delays in product releases and additional costs incurred due to stringent approval processes put a strain on investments relating to electrosurgical equipment new product development resulting in potential loss of revenue. Major players in the electrosurgical devices market are Bovie Medical Corporation, Johnson & Johnson Private Limited, B. Braun Melsungen AG, Medtronic PLC., Smith and Nephew, Boston Scientific, Stryker Corporation, ATMOS Inc., Heal Force Bio-Meditech Holdings Limited, and Erbe Elektromedizin GmbH. North America was the largest region in the global electrosurgical devices market in 2022. Western Europe was the second-largest region in the electrosurgical devices market. The regions covered in the global electrosurgical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electrosurgical devices market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The electrosurgical devices and equipment market consists of sales of surgical generators (radiofrequency, ultrasonic, electrocautery, and argon plasma equipment) and electrosurgical instruments (monopolar, bipolar, and ultrasonic instruments). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global electrosurgical devices and equipment market is segmented - 1) By Product: Electrosurgery Generators, Electrosurgery Instruments & Accessories, Argon and Smoke Management Systems  2) By End User: Hospitals, Specialized Clinics, Ambulatory Surgery Centers 3) By Application: General Surgery, Gynecology Surgery, Urologic Surgery, Orthopedic Surgery, Cardiovascular Surgery, Cosmetic Surgery, Neurosurgery

Neurostimulation devices are implantable and programmable medical devices that send low voltage electricity to a specific nerve or target in the spinal cord or brain to affect neuronal transmissions. This procedure is used to treat or modulate motor functions in conditions such as neuropathic pain, chronic pain, major treatment-resistant depression Parkinson’s disease, epilepsy, incontinence, gastroparesis, and essential tremor. The main products of the neurostimulation devices are implantable devices and external devices. The implantable devices involved are cochlear implants, deep brain stimulation; spinal cord stimulation, vagus nerve stimulation, sacral nerve stimulation, and gastric electric stimulation and the external devices are transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS). The various applications of implantable devices are pain management, epilepsy, essential tremor, urinary and fecal incontinence, depression, dystonia, gastroparesis, and Parkinson's disease that are used by various end-users such as hospitals, rehabilitation centres, and medical clinics. The neurostimulation device market research report is one of a series of new reports from The Business Research Company that provides neurostimulation device market statistics, including neurostimulation device industry global market size, regional shares, competitors with a neurostimulation device market share, detailed neurostimulation device market segments, market trends and opportunities, and any further data you may need to thrive in the neurostimulation device industry. This neurostimulation device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global neurostimulation devices market size will grow from $5.69 billion in 2022 to $6.28 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neurostimulation devices market size is expected to grow to $9.04 billion in 2027 at a CAGR of 9.5%. The rising geriatric population across the globe is driving the growth of the neurostimulation device market. An increasing number of the population is aging, and this geriatric population is falling prey to different neurobiological disorders. For instance, according to the World Health Organization, in 2020 1 billion people in the world were 65 years and above. The number is expected to reach 1.4 billion by 2030 and 2.1 billion by 2050. The high cost associated with the neurostimulation Devices will impede the growth of the market. For example, the average price of neuromodulation devices for chronic pain management range from $13920 to $17940, and the average price of neuromodulation devices for epilepsy ranges from $25420 to $25970. Although the device construction between neurostimulation and cardiac rhythm management devices is similar, neuromodulation generators are 67 percent more expensive than cardiac rhythm management devices. Minimally invasive treatments are being developed for the treatment of various neurological disorders. The neurostimulation devices are being innovated in a way to cause minimum invasion during neurological treatments. For example, Deep Brain Stimulation (DBS) is a minimally invasive surgical procedure to treat neurological symptoms of Parkinson’s disease, including tremors, rigidity, and movement control. DBS uses a neurostimulation device, similar to a heart pacemaker, to deliver electrical pulses to a very precise location in the brain circuits that influence Parkinson’s disease symptoms. The electrical pulses from the DBS device block the activity of these circuits so the rest of the brain can function more normally. USFDA strictly regulates the approval of medical devices depending on their class which is based on the risk associated with the device. There is relatively few class I neurological devices. The majority of the neurological devices are classified under Class II and Class III. Class II devices include neurostimulators, aneurysm clips, and blood clot retrievers. Examples of Class III devices are deep brain stimulators and medical devices for the treatment of brain tumors. Approval of class III medical devices is complicated and requires clinical trials. The time taken for the trials can be 36 months or more, depending on the extent of clinical trials and additional information that the FDA might request. Also, the European Union has recently taken steps to strengthen its regulatory approval process significantly, and this is expected to delay approvals in Europe. The delay in regulatory approvals and the high cost of interventional devices are the major challenges faced by the companies involved in the manufacture of neurological devices. In 2020, Medtronic, an Irish medical device company has acquired Stimgenics for an undisclosed amount. This acquisition is expected to boost the chronic pain treatment portfolio of Medtronic. Stimgenics is a private company based in Bloomington, that is pioneered in new spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) spinal cord stimulation. After the completion of the acquisition, the new proprietary DTM SCS waveform will be available on the Medtronic Intellis Platform. Major players in the neurostimulation devices market are Medtronic, Cyberonics, Boston Scientific Corporation, St. Jude Medical, Nevro Corporation, Neuronetics Inc., NeuroPace Inc., NeuroSigma Inc., Cochlear Ltd., and NDI Medical. North America was the largest region in the global neurostimulation devices market in 2022. Asia-Pacific was the second-largest region in the neurostimulation devices market. The regions covered in global neurostimulation device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the neurostimulation devices market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The neurostimulation devices market consists of sales of spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global neurostimulation devices market is segmented - 1) By Product: Implantable Devices, External Devices 2) By Application: Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson's Disease 3) By End User: Hospitals, Rehabilitation Centers, Medical Clinic 4) By Implantable Devices: Cochlear Implants, Deep Brain Stimulation, Spinal Cord Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Gastric Electric Stimulation 5) By External Devices: Transcranial Magnetic Stimulation (TMS), Transcutaneous Electrical Nerve Stimulation (TENS)

Nuclear imaging devices and equipment are used in the diagnosis of diseases by using small amounts of radioactive substances in the patients and are used in a wide range of medical applications including cardiology, obstetrics/gynecology, vascular, urology, and other medical applications. The main product types in the nuclear imaging devices and equipment are SPECT systems, PET systems, and planar scintigraphy. The SPECT scan is used to capture the images and create 3D scanning. These are used for various applications such as oncology, cardiology, neurology, other applications (orthopedics, urology, thyroid-related disorders, and gastroenterology) that are used in hospitals, imaging centres, academic & research institutes, other end users (pharmaceutical/biotechnology companies and CROs). The nuclear imaging devices and equipment market research report is one of a series of new reports from The Business Research Company that provides nuclear imaging devices and equipment market statistics, including nuclear imaging devices and equipment industry global market size, regional shares, competitors with a nuclear imaging devices and equipment market share, detailed nuclear imaging devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the nuclear imaging devices and equipment industry. This nuclear imaging devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global nuclear imaging devices and equipment market size will grow from $4.02 billion in 2022 to $4.22 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nuclear imaging devices and equipment market size is expected to grow from $4.99 billion in 2027 at a CAGR of 4.3%. The nuclear imaging devices and equipment market is being driven by increasing incidences and prevalence of diseases such as cancer, heart disease, gastrointestinal, endocrine, and neurological disorders. Such diseases are diagnosed in relatively early stages by nuclear imaging equipment as compared to other equipment. For instance, according to the American Cancer Society 2020, in the United States, 1.8 million new cancer cases are diagnosed and 606,520 cancer deaths in the United States, many of which have been diagnosed by nuclear imaging devices and equipment. The nuclear imaging devices and equipment market is being restrained by strict regulations by the Nuclear Regulatory Commission (NRC) medical use. For instance, the NRC requires nuclear imaging equipment licensees to use and store radioactive materials to protect workers and common people by removing unwanted exposure, which has resulted in a relatively less number of nuclear imaging equipment being manufactured. Companies in the nuclear imaging devices and equipment market are using hybrid imaging technologies such as positron emission tomography/computed tomography (PET/CT), single-photon emission computed tomography/computed tomography (SPECT/CT), and positron emission tomography/magnetic resonance imaging (PET/MRI) for nuclear medical imaging. These hybrid systems provide precise images with better resolution and both morphological and physiological information in just one instance of testing. For instance, a SPECT/CT system for skeletal evaluation offers accurate localization and improves the specificity of information provided by CT. The Nuclear Regulatory Commission (NRC), USA regulates the manufacture and use of radioactive materials in nuclear imaging devices, as well as radiation therapy and research. It has agreements with 37 US states which allows them to regulate the use of certain radioactive materials by giving licenses to hospitals, clinics, and medical centres. The US-based Food and Drug Administration (FDA) also regulates products and procedures that are radiation-emitting. It reviews the safety and use of radiopharmaceuticals and machines like x-rays, which produce radiation but do not make or use radioactive material. In April 2020, TTG Imaging Solutions, LLC., a company operating in nuclear medicine equipment based in the United States acquired Nuclear Imaging Services and Molecular Imaging Specialists for an undisclosed amount. With this acquisition, The company wants to expand its portfolio in diagnostics imaging. Nuclear Imaging Services is a company operating in nuclear imaging based in texas and Molecular Imaging Specialists, a company operating in nuclear imaging devices and equipment based in the United States. Major players in the market are Toshiba Medical Systems Corporation, Neusoft Medical Systems Co., Ltd., SurgicEye GmbH, Siemens Healthineers, GE Healthcare, Mediso Medical Imaging Systems Ltd., Digirad Corporation, CMR Naviscan Corporation, DDD Diagnostics, and Philips Healthcare. Western Europe was the largest region in nuclear imaging devices and equipment market in 2022. North America was the second-largest region in nuclear imaging devices and equipment market. The regions covered in the nuclear imaging devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the nuclear imaging devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The nuclear imaging devices and equipment market consist of sales of SPECT (single-photon emission computed tomography) systems, hybrid PET systems, and planar scintigraphy imaging systems. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global nuclear imaging devices and equipment market is segmented - 1) By product type: SPECT systems, PET systems, Planar Scintigraphy, 2) By application: Oncology, Cardiology, Neurology, Other Applications (Orthopedics, Urology, Thyroid-related Disorders, and Gastroenterology) 3) By end user: Hospitals, Imaging Centers, Academic & Research Institutes, Other End Users (Pharmaceutical/Biotechnology Companies and CROs)

Neurodegenerative disorder therapeutics refer to a medication or gene therapy to treat patients with neurodegenerative disorders therapeutically by directly rectifying pathogenic pathways, through neuroprotection, neurorestoration, and symptom control. The main drug types of neurodegenerative disorder therapeutics are n- methyl- d- aspartate receptor, selective serotonin reuptake inhibitor, dopamine inhibitors, and others. Selective serotonin reuptake inhibitors are a type of medication that is commonly used to treat depression and a few other mental illnesses. The various indications include Parkinson’s disease, Alzheimer’s disease, multiple sclerosis, Huntington’s disease, and other indications that ARE distributed through hospital pharmacy, retail pharmacy, and online pharmacy. The neurodegenerative disorder therapeutics market research report is one of a series of new reports from The Business Research Company that provides neurodegenerative disorder therapeutics market statistics, including neurodegenerative disorder therapeutics industry global market size, regional shares, competitors with a neurodegenerative disorder therapeutics market share, detailed neurodegenerative disorder therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the neurodegenerative disorder therapeutics industry. This neurodegenerative disorder therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global neurodegenerative disorder therapeutics market grew from $15.86 billion in 2022 to $17.14 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neurodegenerative disorder therapeutics market is expected to grow from $23.65 billion in 2027 at a CAGR of 8.4%. Increased prevalence of neurodegenerative among the global population contributes to the growth of the neurodegenerative disorder therapeutics market. The increase in the geriatric population attributes to the increased prevalence of neurodegenerative disorders. According to World Population Prospects, the number of people above 60 years of age will increase to 2.1 billion in 2050 and it is expected that people aged over 80 years will triple to 425 million in 2050. According to the Alzheimer’s Association, around 5.8 million Americans are suffering from Alzheimer’s disease, and this number is projected to rise to around 14 million by 2050. The increased prevalence of neurodegenerative diseases among the aging population increases the demand for neurodegenerative disorder therapeutics thereby driving the market. High rates of failure in clinical trials and research and development (R&D) have always been a major challenge in the neurodegenerative disorder therapeutics market. Companies are continuously investing in R&D to develop treatments for neurodegenerative diseases but currently, very few treatments are approved for neurodegenerative disorders. According to a study in 2019, there are officially 112 new molecular entities in Alzheimer’s disease (AD) clinical trials, although there are 3558 in cancer trials. For instance, 12 of the 42 (28 percent) drugs certified by the US Food and Drug Administration (FDA) were oncology therapies, this compares with 0% of AD drugs in production. This failure entitled Alzheimer’s disease drugs to the highest rates of failure at 99.6% when compared to any other disease, including cancer, which has a failure rate of 81%. Moreover, as reported by The New England Journal of Medicine, no new drug has been approved by the Food and Drug Administration (FDA) to treat Alzheimer’s disease since 2013. The low rate of approval of neurodegenerative therapeutics hurts the market, hindering its growth of the market. Manufacturers of neurodegenerative disorder therapeutics are undergoing various strategic partnerships with government and non-government organizations to discover and develop therapeutics for a range of neurodegenerative diseases. The companies in the neurodegenerative disorder therapeutics market are also increasing their collaboration with other players in the market to increase their capabilities for research and development activities to develop new and more effective therapeutic solutions to treat neurodegenerative disorders. For instance, in July 2022, NRG Therapeutics, a UK-based drug discovery company focussed on therapeutic approaches, partnered with Domainex, a UK-based drug discovery service, to develop neurodegenerative disease treatment. For the treatment of Parkinson's disease, motor neurone disease (MND), and other incapacitating chronic neurodegenerative conditions, the firms would work together to develop novel small molecule disease-modifying medications. In January 2020, Biogen Inc., an American biotechnology company, paid $75 million for a novel clinical-stage asset, PF-05251749, as well as the applications from Pfizer.The acquisition of the asset is expected to strengthen Biogen’s existing pipeline of potential disease-modifying therapies in Alzheimer’s and Parkinson’s diseases since PF-05251749 is a CNS-penetrant regulator that has the potential to treat behavioural and neurological symptoms across various psychiatric and neurological diseases. Pfizer Inc. is a multinational pharmaceutical company based in the USA. Major players in the neurodegenerative disorder therapeutics market are Biogen, Pfizer, Novartis, Sanofi, Teva Pharmaceutical, UCB, Hoffmann- La Roche Ltd., ACADIA Pharmaceuticals Inc., Lundeck A/S, Boehringer Ingeiheim International GmbH, Merck Serono, Orion Pharma Ltd., Mitsubishi Tanabe Pharma America, Allergan, GlaxoSmith Kline PLC., AbbVie, Eli lilly, Celgene, Neuro- Hitech Inc., Bayer Schering Pharma AG, Amarin Corporation, AstraZeneca, Alector, Yumanity Therapeutics, Yangtze River Pharmaceutical Group, Chongqing Zein Pharmaceutical and Eisai. North America was the largest region in the global neurodegenerative disorder therapeutics market in 2022. The Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the global neurodegenerative disorder therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the neurodegenerative disorder therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The neurodegenerative disorder therapeutics market includes revenues earned by entities by correction of pathogenic mechanisms, neuroprotection, neurorestoration, and symptom control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organisations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products. The global neurodegenerative disorder therapeutics market is segmented - 1) By Indication Type: Parkinson's Disease, Alzheimer's Disease, Multiple Sclerosis, Huntington Disease, Other Indication Types 2) By Drug Type: N- methyl- D- aspartate Receptor, Selective Serotonin Reuptake Inhibitor, Dopamine Inhibitors, Other Drug Types 3) By Distribution: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy

Medical and diagnostic laboratory services are services that provide diagnostics tests for various diseases. The tests are used for detecting if the person has encountered the disease. Medical and diagnostic laboratory services makes it possible to deliver prompt, affordable, and high-quality diagnostic services in secure settings. The main types of medical and diagnostic laboratory services are diagnostic imaging centres and medical laboratory services. A diagnostic imaging center is a service provider that offers technical or comprehensive diagnostic imaging services. The different expenditure types include public and private that are used in various applications such as cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, and others. The services are used by males and females. The medical and diagnostic laboratory services market research report is one of a series of new reports from The Business Research Company that provides medical and diagnostic laboratory services market statistics, including medical and diagnostic laboratory services industry global market size, regional shares, competitors with a medical and diagnostic laboratory services market share, detailed medical and diagnostic laboratory services market segments, market trends and opportunities, and any further data you may need to thrive in the medical and diagnostic laboratory services industry. This medical and diagnostic laboratory services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global medical and diagnostic laboratory services market grew from $169.87 billion in 2022 to $183.84 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical and diagnostic laboratory services market is expected to grow to $240.86 billion in 2027 at a CAGR of 7.0%. The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence rose by 57% globally, in 2020. Tests to diagnose these diseases include HbA1c tests for monitoring diabetes, biopsies, tumor marker tests, bone scans, MRI and CT scans for diagnosis of various cancers, electrocardiograms, chest X-rays, cardiac CT scans, and stress tests for detection of cardiovascular diseases. The increase in the prevalence of lifestyle diseases will increase the demand for tests to diagnose these diseases and thus will drive the medical and diagnostic laboratory services market during the forecast period. The medical and diagnostic laboratory services market is expected to limit by the rising prevalence of self-care diagnostic equipment. These tools can be used by patients without assistance from medical personnel, to diagnose particular disabilities or disorders. Common self-care diagnostic devices include glucose monitoring devices, blood pressure monitoring devices, sleep apnea monitors and temperature monitors. The ease of use of self-care devices has increased demand for them during the last decade and is expected to increase it further during the forecast period. Some virtual applications are also aiding in the diagnosis of certain health conditions. For instance, iPhone is working on an IOS accessory called Cue, which can be used as a home diagnostic kit. Self-care diagnostics is expected to have a negative impact on the traditional medical and diagnostic laboratory services market during the forecast period by reducing the need for laboratory testing for some basic tests. Medical and diagnostic laboratories are using biomarkers to measure health parameters associated with individual wellness. The health and well-being of individuals can be measured by using biomarkers to assess factors behind sleep disorders and symptoms of stress. Biomarkers such as cortisol, testosterone, and secretory IgA can indicate changes in the immune system relating to physical and mental conditions. This can be used by physicians to know the causative factors behind such conditions. This is a premium service primarily targeted at wealthy individuals and senior employees of corporations. Major companies in the medical and diagnostic laboratory services market include Laboratory Corporation of America, Eurofins, Quest Diagnostics Incorporated, Sonic Healthcare Limited, Kaiser Permanente, RadNet, OPKO Health, Myriad Genetics, Charles River Laboratories, Inc., and NeoGenomics Laboratories, Inc. North America was the largest region in the medical and diagnostic laboratory services market in 2022. Asia-Pacific was the second largest region in the medical and diagnostic laboratory services market. The regions covered in the medical and diagnostic laboratory services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medical and diagnostic laboratory services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The medical and diagnostic laboratory services market includes revenues earned by entities by providing diagnostic services such as diagnostic laboratory services, X-ray, CT scan, and Mammography. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global medical and diagnostic laboratory services market is segmented - 1) By Type: Diagnostic Imaging Centers, Medical Laboratory Services 2) By Application: Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Other Applications 3) By End User Gender: Male, Female 4) By Type of Expenditure: Public, Private Subsegments Covered: Computer Tomography (CT-Scan) Centers, Medical Radiological Laboratories, Dental or Medical X-Ray Laboratories, Ultrasound Imaging Centers, Magnetic Resonance Imaging (MRI) Centers

Neurology devices are used to diagnose, prevent, and treat various neurological disorders such as Alzheimer’s, spinal cord injury, and traumatic brain injury. These devices are also used to restore hearing and sight for patients with limb loss or congenital limb differences. The main types of neurology devices are cerebrospinal fluid management (CSF) devices and equipment, interventional neurology devices and equipment, neurosurgery devices and equipment, and neurostimulation devices. The neurostimulation device is a device that generates the electrical impulses placed under the skin of specific parts of the patient's body. The type of expenditures is public and private. The products included are instruments/equipment and disposables. The various end-users involved are hospitals and clinics, diagnostic laboratories, and others. The neurology devices market research report is one of a series of new reports from The Business Research Company that provides neurology devices market statistics, including neurology devices industry global market size, regional shares, competitors with a neurology devices market share, detailed neurology devices market segments, market trends and opportunities, and any further data you may need to thrive in the neurology devices industry. This neurology devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global neurology devices market grew from $15.89 billion in 2022 to $17.67 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neurology devices market is expected to grow to $26.08 billion in 2027 at a CAGR of 10.2%. The increase in the patient pool due to the rising geriatric population globally contributed significantly to the growth of the neurology devices market during the historic period. According to the World Health Organization, the number of people aged 60 years and above was 1 billion in 2020 and the number will rise to 1.4 billion by 2030 and it will reach 2.1 billion by 2050. This rise in the geriatric population increased the demand for medical care and drove healthcare expenditure. These factors increased the demand for neurology devices and drove the market during the historic period. Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients. These regulations include changes to equipment approval procedures and others. For instance, the United States Food and Drug Administration is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts a strain on investments relating to new product development, thereby affecting the growth of the market. Neurology device manufacturers are investing in the research and development of implantable wireless brain devices to treat neurological and psychiatric diseases. The neuromodulation devices are tiny devices with a wireless neuromodulator, implanted inside the cranium (skull) to communicate with the brain and stimulate nerves in the body. They are equipped with antennas, application-specific integrated circuits, ceramic lid, and feedthrough. These devices are used for relieving depression, traumatic brain injury, stress, and bipolar disorders by manipulating brain signals accordingly. For instance, in August 2020, leading global medical technology player Medtronic rolled out a plan to expand its Hyderabad research and development (R&D) center into its second-largest research hub in five years. The company is investing Rs 1,200 crore for the purpose. The investment planned for five years will see its employee strength go up from the existing 350 to about 1,000. The MEIC will be providing software and engineering services across four key verticals - cardiac, neuro, renal, and minimally invasive surgery of the company. Major companies in the neurology devices market include Medtronic Inc., Stryker Corporation, Terumo Corporation, Integra Lifesciences, Boston Scientific Corporation, Penumbra, Inc., B. Braun Group, Nevro, LivaNova, PLC, and Natus Medical. North America was the largest region in the global neurology devices market in 2022. Asia-Pacific was the second largest region in the global neurology devices market. Africa. was the smallest region in the global neurology devices market. The regions covered in the neurology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the neurology devices market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The neurology devices market consists of sales of neuro thrombectomy devices, carotid artery stents, embolic coils, and support devices that are used to treat neurological disorders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global neurology devices market is segmented - 1) By Type: Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices 2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users 3) By Type of Expenditure: Public, Private 4) By Product: Instruments/Equipment, Disposables Subsegments Covered: CSF Drainage Systems, CSF Shunts, Aneurysm Coiling & Embolization Devices, Neurothrombectomy Devices, Angioplasty Devices, Interventional Neurology Support Devices, Neurosurgical Navigation Systems, Neurosurgical endoscopes, Aneurysm Clips, Stereotactic Systems, Other Neurosurgery Devices, Implantable Neurostimulation Devices, External Neurostimulation Devices