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Global Neuroscience Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights
Neuroscience Market
Scrutinizing the uncertainties of the COVID-19 pandemic, our research team is constantly tracking and assessing the impact of the pandemic on the neuroscience market. These comprehensive insights are included in our market search report as a key market contributor.
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The Neuroscience Market: Overview
Neuroscience comprehends several branches of science, including linguistics, philosophy, psychology, computation, as well as chemistry. The neuroscience study comprises cellular, behavioral, operative, molecular, therapeutic, and evolutionary aspects of the neurotic system. The market for neuroscience consists of many technologies utilized in imaging the nervous system.
Neuroscience finds its applications in manifold areas to better understand the pathophysiology and chronic neurological disease symptoms, for instance, Alzheimer's and epilepsy disease. This results in the development of new treatments for such diseases.
Neuroscience instruments, including CT scans, microscopes, brain neuron interface systems, MR imaging, stimulation solutions, signal processing system, and other recordings, help in performing various research activities, such as disease modeling, neural activity, safety, drug discovery, and toxicity studies.
The Neuroscience Market: Growth Drivers
• Surging investments in healthcare infrastructure
Increasing investments, particularly by the governments, is one of the key factors boosting the market growth. Further, the corporates are also focusing on employees' mental health check-ups, which boosts the growth of the market. As per research by the Peter G. Peterson Foundation, the US is witnessing a high rise in its healthcare expenditure.
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The national healthcare expenditure is anticipated to account for approximately USD 6.2 trillion by the end of 2028. Also, according to the American Medical Association, in 2020, US healthcare spending increased by 9.7% reaching USD 4.1 trillion. This growth rate is significantly higher than the 4.3% witnessed in 2019.
• The rise in neurological disorders
Neurological disorders, such as Parkinson's, Alzheimer's diseases, and other dementias, are accelerating the growth of the neurological market. As per Alzheimer's disease International's report, the people suffering from dementia accounted for over 55 million in 2020. Further, this number is expected to reach 78 million by 2030 and around 139 million by 2050. The majority of these cases are expected to rise in developing countries.
The Neuroscience Market: Key Insights
• As per the analysis shared by our research analyst, the Neuroscience market is estimated to grow at a CAGR of around 4.7% over the forecast period (2022-2030).
• In terms of revenue, the Neuroscience market size was valued at around USD 26.2 billion in 2021 and is projected to reach USD 38.8 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on type segmentation, the brain imaging segment was estimated to show maximum market share in the year 2021.
• Based on application segmentation, the hospital segment was the leading revenue-generating category in 2021.
• On the basis of region, the North American region was the leading revenue generator in 2021.
Press Release For Neuroscience Market: https://www.custommarketinsights.com/press-releases/global-neuroscience-market/
The Neuroscience Market: Regional Landscape
The North American region is anticipated to lead the market throughout the forecast period. The dominance has been attributed to the presence of the region's large healthcare industry. Also, Europe is estimated to be the second-largest revenue generator in 2021, followed by the Asia Pacific.
The surging demand for neuroimaging devices along with rising research activities in the neuroscience field is contributing to the market's growth significantly. Also, Germany is leading the market in 2021.
The rising acceptance of neuroscience studies in growth is propelling the market growth. In countries, such as Poland and Russia, the major market growth is attributed to growth in neuroscience devices trade and consumables for diagnostics and imaging purposes.
Asia Pacific, the rise in CNS disorders cases is expected to fuel the neuroscience market growth. Further, the market in the MEA region is witnessing growth owing to the rapid development of medical infrastructure. Based on revenue, the rest of the MEA region is estimated to hold a dominant share in 2021.
The Neuroscience Market: Prominent Players
Doric Lenses Inc.
Siemens Helthineers
Laserglow Technologies
GE Healthcare
Mightex Systems
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The Neuroscience Market: Segments
By Type
Whole Brain Imaging
Electrophysiology Technologies
Neuro-Microscopy
Neuro-Cellular Manipulation
Others
By Application
Hospitals
Research Institutes
Diagnostic Laboratories
Others
The Neuroscience Market: Regions
North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
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