Neurological Disorder Diagnostics Market Report 2024

This Neurological Disorder Diagnostics market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The neurological disorder diagnostics market size has grown strongly in recent years. It will grow from $10.98 billion in 2023 to $11.75 billion in 2024 at a compound annual growth rate (CAGR) of 7%. The growth during the historic period can be attributed to the rising prevalence of neurological disorders, an aging population, increased emphasis on early diagnosis and disease management, heightened awareness of neurological conditions, and a stronger focus on early diagnosis.

The neurological disorder diagnostics market size is expected to see strong growth in the next few years. It will grow to $15.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth during the forecast period can be attributed to increasing awareness and education, rising healthcare expenditure, improved access to healthcare services, expansion of diagnostic centers, and a growing adoption of personalized medicine. Key trends expected include advancements in neuroimaging techniques, the adoption of wearable devices and remote monitoring technologies, progress in biomarker discovery and genetic testing, integration of artificial intelligence and machine learning, and the development of point-of-care diagnostic devices.

The growing prevalence of Alzheimer's disease is expected to drive the expansion of the neurological disorder diagnostics market in the coming years. Alzheimer's disease is a progressive neurodegenerative condition marked by a gradual deterioration in cognitive abilities, including memory, reasoning, and problem-solving. The disease involves a combination of genetic factors, such as certain gene mutations and variations, the buildup of amyloid plaques and tau tangles in the brain, chronic inflammation, vascular problems, and lifestyle influences. Neurological disorder diagnostics aid in managing Alzheimer's disease by facilitating early and accurate detection through advanced imaging techniques, biomarker analysis, and cognitive assessments. For example, in September 2024, the Australian Institute of Health and Welfare, a government agency in Australia, reported that in 2023, around 411,100 people in Australia were living with dementia, including approximately 257,500 women and 153,700 men. Therefore, the rising prevalence of Alzheimer's disease is contributing to the growth of the neurological disorder diagnostics market.

Leading companies in the neurological disorder diagnostics market are concentrating on developing innovative solutions, such as neurological disease quantification software, to address the needs of the one billion people globally affected by neurological diseases. Neurological disease quantification software is a tool designed to assess and track brain function and the progression of diseases in neurological conditions. For example, in January 2024, Quibim, a biotechnology company based in Spain, introduced QP-Brain, an AI-driven software for early-stage neurological disease quantification. QP-Brain is an advanced neuroimaging analysis tool developed by Quibim to measure changes in brain tissue due to neurological diseases. Its standout features include AI-powered automated segmentation and comprehensive volumetric analysis, providing accurate insights into brain structural changes for both clinical and research purposes.

In February 2023, Lantheus, a US-based pharmaceutical manufacturer, acquired Cerveau Technologies for an undisclosed amount. This acquisition enhances Lantheus' diagnostic capabilities for Alzheimer's disease with Cerveau's tau-targeting PET imaging agent, MK-6240, improving the ability to diagnose, stage, and monitor the disease while supporting the development of new treatments. Cerveau Technologies, based in the US, specializes in diagnostic technologies for neurological disorders, particularly neurodegenerative diseases such as Alzheimer's.

Major companies operating in the neurological disorder diagnostics market are Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Novartis AG, Medtronic plc, Amgen Inc., Siemens Healthineers AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Otsuka Pharmaceutical Co. Ltd., Boston Scientific Corporation, Neurocrine Biosciences Inc., Neusoft Medical Systems Co.Ltd., Nihon Kohden Corporation, Natus Medical Incorporated, Esaote S.p.A, Canon Medical Systems Corporation, NeuroPace Inc., Lifelines Neuro Company LLC, York Instruments Ltd., Advanced Brain Monitoring Inc., Neurometrix Inc., Croton Healthcare Private Limited, NeuroLogica Corporation.

North America was the largest region in the neurological disorder diagnostics market in 2023. The regions covered in the neurological disorder diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Neurological disorder diagnostics involve methods and technologies used to identify, assess, and monitor diseases affecting the nervous system, including the brain, spinal cord, and nerves. This field utilizes advanced imaging techniques, biomarker analysis, genetic testing, and cognitive assessments to detect abnormalities, determine the presence and progression of diseases, and guide treatment strategies for various neurological conditions.

The main components in the neurological disorder diagnostics market include instruments, reagents, kits, software, and services. Instruments refer to the physical devices used for diagnosing neurological disorders. Technologies in this field include immunoassays and polymerase chain reaction (PCR) techniques. The diseases covered range from Alzheimer’s disease and dementia to Parkinson’s disease, epilepsy, traumatic brain injury, and more. End users of these diagnostics include hospitals and clinics, diagnostic centers, and academic and research institutes.

The neurological disorder diagnostics market research report is one of a series of new reports that provides neurological disorder diagnostics market statistics, including the neurological disorder diagnostics industry global market size, regional shares, competitors with neurological disorder diagnostics market share, detailed neurological disorder diagnostics market segments, market trends, and opportunities, and any further data you may need to thrive in the neurological disorder diagnostics industry. These neurological disorder diagnostics market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The neurological disorder diagnostics market consists of revenues earned by entities by providing services such as neuroimaging, electrophysiological testing, genetic analysis, cerebrospinal fluid examination, neuropsychological assessments, and laboratory tests. The market value includes the value of related goods sold by the service provider or included within the service offering. The neurological disorder diagnostics market also includes sales of imaging devices, biomarker tests, and cognitive assessment tools. 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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