Worldwide Neurodiagnostics Industry to 2025 - Increasing Application in Clinical Trials Presents Opportunities

Dublin, March 04, 2021 (GLOBE NEWSWIRE) -- The "Global Neurodiagnostics market (2020-2025) by Product Type, Condition, End user, Geography and the Impact of Covid-19 with Ansoff Analysis" report has been added to *ResearchAndMarkets.com's* offering.

The Global Neurodiagnostics Market is estimated to be USD 6.8 Bn in 2020 and is expected to reach USD 9.5 Bn by 2025, growing at a CAGR of 7%.

Neurological disorders are increasingly recognized as major causes of death and disability worldwide. Data estimated by the Global Burden of states that neurological disorders were the leading causes of Disability-Adjusted Life Years (DALY), with around 276 Mn deaths worldwide. This shows the need for early diagnosis of neurological disorders. Diagnostics testing procedures and tools are essential ways to diagnose a disorder or any other medical condition. In the case of neurosciences, neurodiagnostic has a wide application base.

Neurodiagnostic tests are usually performed on patients who suffer from conditions related to the central nervous system (brain and the spinal cord). These tests monitor and record the electrical activity of the brain, spinal cord, and peripheral nerves to ensure the early and accurate diagnosis of the disease. The specialized imaging procedures can help in visualizing the changes in brain activity or the amounts of a particular brain chemical to provide more detailed diagnostic information. The most common neurodiagnostic procedures are Electroencephalogram (EEG), Magnetic Resonance Imaging (MRI), and Position Emission Tomography (PET) scan. Many companies related to neurodiagnostic are focusing on the development of innovative products to strengthen their product portfolio and product pipelines.

Factors promoting the growth of the neurodiagnostic markets are the increasing number of neurological disorders, growing number of diagnostic centres, growing advancement in genomics and proteomics, the ability of the devices to monitor patients in ICUs, and rising patient emphasis on early diseases diagnosis.

However, low amounts of regular diagnosis amongst the patients due to the high costs associated with the diagnosis and awareness hinders the growth of this market. Also, the lack of skilled expertise and limitations of EEGs in providing accurate diagnosis may impede the market growth. A surge in the prevalence of neurological disorders, technological developments, an increase in healthcare awareness among people, and an increase in healthcare expenditure may provide numerous opportunities for expansion of the Neurodiagnostics Market.

*Market Dynamics*

*Drivers*

· Increasing Incidence of Neurological Diseases
· Growing Adoption of Novel Diagnostic Technologies
· Increasing Patient Emphasis on Effective and Early Disease Diagnosis
· Increasing Number of Diagnostic Centres & Hospitals

*Restraints*

· High Cost of Diagnosis
· Growing Adoption of Refurbished Neurodiagnostic Systems
· Absense of Regular Diagnosis Activities

*Opportunities*

· Increasing Application in Clinical Trials
· Technological Advancements and Emerging Markets
· Growing Advancement in Genomics and Proteomics for the Diagnosis of Neurodegenerative Disorders

*Trends*

· Rise in the Demand for Neuroimaging, In-Vitro Diagnosis, and Neuro-Informatics.
· Increased Use of Cloud Computing Based EEG Devices
· Advances in Genomics and Proteomics for the Diagnosis of Neurodegenerative Disorders

*Segments Covered*

The Global Neurodiagnostics market is further segmented on the basis of Product Type, Condition, End user, and Geography.

By Product, the Diagnostic Imaging Systems segment is estimated as the fastest growing market in the forecast period due to the increased research and development activities in the field of neuro-generative disorders. It leads to a high number of product launches by major manufacturers in the market. The high investments in healthcare infrastructure have also additionally boosted the growth of this segment.

By Condition, the Neurogenerative Diseases segment is estimated as the fastest-growing segment. The factors underlying the growth of this segment is the high amount of brain injuries due to dementia, and Parkinson's disease coupled with the neurological examinations for further prognosis.

By End User, the Hospitals are estimated as the fastest-growing segment. It is mainly the hospitals that hold the highest financial capabilities to own neuro-diagnostic devices required for the neurosurgeries. Hospitals have an arrangement for a team of trained professionals to perform complex diagnostic procedures using neurodiagnostic tools and hence expected to grow more than any other end-user segment.

By Geography, North America is expected to lead the market. The growth is attributed to the presence of a robust healthcare system, device manufacturing companies, and accessibility to high-end innovative neurodiagnostic tools amongst medical professionals. Europe is the second-largest market owing to the increasing geriatric population. The increasing geriatric population and the increasing prevalence of age-related diseases like stroke, dementia, and Parkinson's diseases are expected to propel the growth of the market.

*Company Profiles*

Some of the companies covered in this report are Fujifilm, Advanced Brain Monitoring, Inc. Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, QIAGEN N.V. and F. Hoffmann-La Roche AG.

*IGR Competitive Quadrant*

The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.

· Lions: Represents companies with a strong foothold in the market, with the highest market share, large investments in technologies, new products.
· Bulls: Companies that are medium in size competing with their USPs, growing companies with proven market share.
· Rabbits: Small companies but growing rapidly, constantly improving their offerings in the market
· Tortoise: Companies which are slow in growth, having a long legacy and stable or negative in performance

*Why buy this report?*

· The report offers a comprehensive evaluation of the Global Neurodiagnostics Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
· The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.
· The report includes an in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.
· The report also contains the competitive analysis using IGR Competitive Quadrant, the analyst's proprietary competitive positioning tool.

*Report Highlights:*

· A complete analysis of the market including parent industry
· Important market dynamics and trends
· Market segmentation
· Historical, current, and projected size of the market based on value and volume
· Market shares and strategies of key players
· Recommendations to companies for strengthening their foothold in the market

*Key Topics Covered:*

*1 Report Description*
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders

*2 Research Methodology*
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study

*3 Executive Summary*

*4 Market Overview*
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Trends

*5 Market Analysis*
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis

*6 Global Neurodiagnostics Market, By Product Type*
6.1 Diagnostic Imaging Systems
6.1.1 Magnetic Resonance Imaging (MRI) Systems
6.1.2 Electroencephalogram (EEG)
6.1.3 Computed Tomography (CT) Scanner
6.1.4 Position emission tomography (PET) System
6.1.5 Electromyography (EMG)
6.1.6 Ultrasound Imaging Systems
6.2 Clinical Diagnosis Instruments
6.3 Reagents and Consumables

*7 Global Neurodiagnostics Market, By Condition*
7.1 Neuro Degenerative Diseases
7.2 Epilepsy
7.3 Stroke
7.4 Headache Disorders
7.5 Sleep Disorders
7.6 Other Diseases

*8 Global Neurodiagnostics Market, By End User*
8.1 Operation Theatres
8.2 Hospitals
8.3 Clinics
8.4 Neurophysiological Laboratories

*9 Global Neurodiagnostics Market, By Geography*
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 South America
9.3.1 Brazil
9.3.2 Argentina
9.4 Europe
9.4.1 UK
9.4.2 France
9.4.3 Germany
9.4.4 Italy
9.4.5 Rest of Europe
9.5 Asia-Pacific
9.5.1 China
9.5.2 Japan
9.5.3 India
9.5.4 Australia
9.5.5 Rest of APAC
9.6 Middle East and Africa

*10 Competitive Landscape*
10.1 IGR Competitive Quadrants
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreements, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Fundings

*11 Company Profiles*
11.1 GE Healthcare
11.2 Philips Healthcare
11.3 Siemens Healthineers
11.4 Hitachi, Ltd.
11.5 Canon, Inc.
11.6 Lifelines Neuro Company, LLC
11.7 Natus Medical Incorporated
11.8 F. Hoffmann-La Roche AG
11.9 FUJIFILM Holdings Corporation
11.10 Mitsar Co., Ltd.
11.11 Advanced Brain Monitoring, Inc.
11.12 Thermo Fisher Scientific, Inc.
11.13 Bio-Rad Laboratories
11.14 QIAGEN N.V.
11.15 Nihon Kohden Corporation
11.16 Roche NimbleGen, Inc.
11.17 Agilent Technologies
11.18 BGI
11.19 Eurofins Genomics, Inc.
11.20 GENEWIZ, Inc.
11.21 Macrogen, Inc.
11.22 Ambry Genetics
11.23 Pacific Biosciences Of California, Inc
11.24 Koninklijke Philips N.V.
11.25 ANT Neuro
11.26 FONAR
11.27 Fujirebio
11.28 DRG INSTRUMENTS GMBH
11.29 Tecan Trading AG
11.30 Alpha Omega
11.31 Bruker

*12 Appendix*
12.1 Questionnaire

For more information about this report visit https://www.researchandmarkets.com/r/6g0lxo

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