Digital Health in Neurology Global Market Report 2024

The digital health in neurology market size has grown exponentially in recent years. It will grow from $35.74 billion in 2023 to $44.26 billion in 2024 at a compound annual growth rate (CAGR) of 23.8%. The growth in the historic period can be attributed to improved access to care for Parkinson’s disease patients through digital health tools, focus on digital tools with neurogenetics research, use of big data for computational health in neurology, and digital health initiatives for movement disorders, particularly in telemedicine applications.

The digital health in neurology market size is expected to see exponential growth in the next few years. It will grow to $105.1 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The growth projected in the forecast period can be credited to progress in AI and machine learning, the widening scope of telemedicine, the adoption of wearable technology for remote monitoring, integration of big data and genomics, patient-centered digital health platforms, and regulatory and reimbursement enhancements. Key trends expected in the forecast period encompass a rise in patient-centric solutions, a heightened emphasis on remote monitoring and virtual care, the utilization of AI for diagnostics and personalized treatment, and a focus on preventive healthcare measures.

The increasing incidence of neurological disorders is anticipated to drive the expansion of the digital health sector within neurology. Neurological disorders encompass conditions affecting the nervous system, including the brain, spinal cord, and peripheral nerves. Factors contributing to their prevalence include aging demographics, lifestyle shifts, environmental influences, genetic predispositions, heightened diagnostic awareness, and improved survival rates for traumatic brain injuries (TBIs). Digital health solutions within neurology facilitate remote monitoring, tailored treatment approaches, and early disorder detection, thereby augmenting patient care and outcomes. For instance, as reported by the World Federation of Neurology in October 2023, over 40% of the global populace is affected by neurological conditions, a figure expected to nearly double by 2050. Additionally, global stroke-related mortality stands at 9.7 million deaths annually, projected to rise by 50% by 2050. Hence, the escalating prevalence of neurological disorders propels the expansion of digital health solutions in the neurology domain.

Major players in the digital health within neurology sector are concentrating on pioneering technologies such as neural interfaces to gain a competitive advantage. A neural interface facilitates direct communication between the brain and external devices, enabling control or feedback mechanisms. For example, in November 2022, Blackrock Neurotech, a biotechnology firm based in the United States, introduced Neuralace, an advanced neural interface. This cutting-edge technology boasts over 10,000 channels and a flexible electrode design, marking a significant leap forward in brain-computer interface (BCI) technology. Neuralace holds the potential to revolutionize the management of neurological disorders by facilitating comprehensive brain data collection and enhancing capabilities in areas such as vision and memory restoration, performance forecasting, and the treatment of mental health disorders.

In February 2024, Aptar Digital Health, LLC, a digital solutions provider offering comprehensive services, acquired Healint for an undisclosed sum. This acquisition is intended to broaden Aptar Digital Health's offerings in neurology, reinforce its global footprint in digital health, and augment its capabilities in managing patient communities, AI-driven data collection and analysis, digital diagnostics, and clinical trial management. Healint, headquartered in Singapore, specializes in delivering digital solutions for neurological disorders.

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.

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.

The countries covered in the digital health in neurology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Digital health in neurology involves incorporating technology into neurological healthcare. This includes telemedicine, wearable devices, mobile applications, and electronic health records. The objective is to improve the monitoring, diagnosis, treatment, and overall management of neurological disorders by leveraging remote access, data analytics, and tailored interventions.

The primary components of digital health in neurology include software, hardware, and services. Software encompasses various programs and applications enabling computers and digital devices to execute specific functions. It is utilized across a spectrum of neurological conditions such as Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, epilepsy, and others, catering to diverse end-users including patients, healthcare providers, payers, and other stakeholders.

The digital health in neurology market research report is one of a series of new reports that provides digital health in neurology market statistics, including digital health in neurology industry global market size, regional shares, competitors with a digital health in neurology market share, detailed digital health in neurology market segments, market trends and opportunities, and any further data you may need to thrive in the digital health in neurology industry. This digital health in neurology 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 digital health in neurology market consists of revenues earned by entities by providing services such as telemedicine consultations, remote monitoring services, remote monitoring and management platforms and digital platforms. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital health in neurology market also includes sales of wearable devices, telemedicine platforms, and electronic health record 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.


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