New York, NY, April 16, 2018 (GLOBE NEWSWIRE) --
Zion Market Research has published a new report titled “Neuroscience Market by Component (Instrument, Software, and Services), and by End-user (Hospitals, Diagnostic Laboratories, Research Institutes, and Academic Institutes): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”.
According to the report, global neuroscience market was valued at around USD 26,350 million in the year 2016 and it is expected to reach approximately USD 34,800 million by 2024. The global neuroscience market is expected to exhibit a CAGR of more than 3.5% between 2017 and 2024.
Browse through 18 Tables & 32 Figures spread over 110 Pages and in-depth TOC on "Global Neuroscience Market: Industry Size, Share, Trends, Analysis and Forecast 2016 – 2024”.
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Market Report Highlights:
- Instruments dominated the component segment in global neuroscience market. The instruments such as MRI imaging systems, neuro – microscopy, and others are a significant part of neurological study & diagnostics thus contributing a major share in the neuroscience market.
- Emerging economies such as China, India, and Brazil are expected to experience a significant market growth owing to escalating healthcare infrastructure, advancing technologies, and rising incidences of neurological disorders.
- High initial cost investment in instruments and their installations is expected to restrict the growth of the neuroscience market.
- Hospitals dominated the end-user segment in 2016 by holding a major market share of above 35%. The increasing preference of patients towards hospitals for better diagnosis of their neurological disorders is one of the major factors driving the hospital segment. The quality treatment facilities offered by the hospitals and the availability of the advanced equipment has positively increased the growth of the segment.
- North America held the dominant position in the global neuroscience market with more than 38% share in 2016. Increased demand for neuroimaging devices in research activities triggers the growth of the neuroscience market in the region.
- By component type, the U.S. contributed the major market share in the instruments segment.
- Europe held the second largest share in 2016 for global neuroscience market. In terms of revenue, Germany is expected to dominate the Europe neuroscience market, owing to increasing neuroscience studies and acceptance of diagnosis treatments.
- China and India are the leading countries that contribute a major share in the neuroscience market. The factors such as increasing geriatric population and rising incidence of CNS disorders in the developing countries are expected to propel the growth of Asia Pacific neuroscience market.
- Asia Pacific is anticipated to register the highest CAGR during the forecast period.
- Brazil is expected to dominate the Latin America neuroscience market, owing to developing medical infrastructure in the country and increasing awareness about the neurological disorders.
- Slow economic growth, underdeveloped healthcare infrastructure, and lower access to technological advancement in the Middle East & Africa are expected to limit the growth of the market in this region.
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According to the analysts and insights shared by industry experts during primary research, instrument component segment will serve as a prominent growth platform for neurological diagnostics market, owing to the high use of instruments such as MRI machines, nerve monitoring systems, etc.
Increasing diseases related to central nervous systems and rising aging population are the prominent factors driving the neuroscience market. A modern imaging technique such as diffusion tensor imaging (DTI) offers exclusive insights to overcome the restrictions faced by computed tomography (CT) & MRI techniques.
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Increasing occurrences of diseases such as Parkinsonism and Alzheimer’s disease together with other inherited CNS disorders has increased the necessity for new developments & improvements in neuroscience industry which is expected to significantly boost the neuroscience market during the forecast period.
The market for neuroscience is segmented by different component types. High use of imaging machines, intraneural imaging tools, and other neuroscience devices are expected to dominate the neuroscience market throughout the forecast period. Increasing R&D coupled with the novel and innovative technologies in brain mapping and other neurological studies is expected to provide a better understanding of neuron functions, which in turn is propelling the market growth during the forecast period. Different instruments that are used while studying neurological disorders are electrophysiology instruments, MRI instruments, optogenetics instruments, and microscopy instruments. The increased penetration of these instruments in the field of neuroscience has positively affected the segment growth.
Browse the full " Neuroscience Market by Component (Instrument, Software, and Services), and by End-user (Hospitals, Diagnostic Laboratories, Research Institutes, and Academic Institutes): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024" report at https://www.zionmarketresearch.com/report/neuroscience-market
However, software component segment is expected to grow with highest CAGR during the forecast period. Rising trade of neuroscience devices with integrated software for imaging and diagnostics purpose is driving the demand for the software in the neuroscience market.
The neuroscience market is growing at a rapid rate in the developed regions. North America dominates the neuroscience market. Whereas Asia Pacific is having a significant share in the neuroscience market and is anticipated to grow at highest CAGR. Owing to the increasing geriatric population and rising incidences of CNS-related diseases in the developing countries the neuroscience market is gaining traction in the Asia Pacific.
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The major market players in the neuroscience market are Alpha Omega, Axion Biosystems, Blackrock Microsystems LLC, Femtonics Ltd., Intan Technologies, LaVision Biotec GmbH, Mediso Medical Imaging Systems, Neuralynx Inc., NeuroNexus Technologies, Neurotar Ltd., Newport Corporation, Plexon Inc., Scientifica Ltd., Sutter Instrument Corporation, Thomas Recording GmbH, and Trifoil Imaging Inc., among others.
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The global neuroscience market is segmented on the basis of the component, end-users, and the geographical regions.
Global Neuroscience Market: Component Segment Analysis
- Instrument
- Software
- Services
Global Neuroscience Market: End-user Segment Analysis
- Academic Institutes
- Diagnostic Laboratories
- Hospitals
- Research Institutes
Global Neuroscience Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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