Neuroscience Market – by Component (Instrument, Software, and Services), by End User (Hospital, Diagnostic Laboratories, Research Institutes, and Academic Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share and Growth Analysis 2018-2026
- Report code : CMI42487 |
- Industry :
Medical Devices
- Published On : Feb 2019 |
- Pages : 165 Pages |
- Format :
Neuroscience Market – Novel Approach for Neurological Disorders
Neuroscience involves use of various methods to measure and image the brain activity. Neuroscience is umbrella term focusing on molecular, cellular, developmental, structural, functional, evolutionary, computing, psychosocial, and medical aspects of the nervous system. Research in neuroscience is constantly evolving based on biology, pharmaceutical science, medicine, cognitive science, and biomedical engineering. Neuroscience-based devices help in collecting valuable information regarding activities in brain and can be used in various areas such as better understanding of pathophysiology and symptoms of various chronic neurological diseases such as epilepsy, Alzheimer’s disease and other dementias; cerebrovascular diseases including stroke, migraine, and other headache disorders, multiple sclerosis, Parkinson's disease, neuro-infections, brain tumors; and traumatic disorders of the nervous system due to head trauma.
These devices consist of different instruments that are required for neuroscience-based experiments. Various types of electrophysiology instruments and imaging instruments are utilized to map the brain and examine the brain activity.
The global neuroscience market size was valued at US$ 26,593 million in 2017, and is expected to witness a CAGR of 3.9% over the forecast period (2018 – 2026).
Figure 1. Global Neuroscience Market Value (US$ Mn), by Region, 2017
Source – Coherent Market Insights, 2018-19
Increasing burden of neurological diseases worldwide is expected to be a major factor accelerating the growth of the global neuroscience market
Increasing prevalence of various chronic neurological diseases worldwide is expected to be a major driver for growth of the global neuroscience market. This is owing to high unmet medical need in terms of timely diagnosis and effective treatment of neurological diseases. This in turn requires better understanding of pathophysiology of the diseases and improvement in knowledge about functioning of nervous system, which is expected to boost demand for neuroscience devices.
According to World Alzheimer Report in 2016, around 46.5 million people suffered from Alzheimer’s disease and the number was expected to reach 50 million by 2017, with a frequency of one new patient of Alzheimer’s disease every there seconds worldwide.
According to World Health Organization (WHO) 2016 report, around 6 million deaths occur due to stroke, annually and over 80% of these deaths take place in low- and middle-income countries. Moreover, over 50 million people suffer from epilepsy and 47.5 million people from dementia, with 7.7 million new cases, annually worldwide.
Figure 2. Global Neuroscience Market, Market Segmentation, 2017
Source – Primary, Secondary Analysis by Coherent Market Insights
However, product recalls by key players is expected to hinder the market growth. For instance, in 2017, Codman announced voluntary recall of CERTAS programmable valve in stock at hospitals and medical facilities based on a very small percentage of possible cases where the valve setting could change after an MRI procedure, or a problem could arise when trying to use the hand-held programming tool.
Increasing product launch and government funding for neuroscience research is expected to propel the neuroscience market growth
Key players in the market are focused on launching new instruments and software components, which address current research needs for neuroscience. This in turn is expected to boost the market growth. For instance, in 2015, Blackrock Microsystems LLC showcased new digital, wireless brain-interface titled — CerePlex W – at Society for Neuroscience Conference (SfN), Washington, U.S.
Furthermore, increasing government funding for research in the field of neuroscience is also expected to propel the market growth. For instance, in 2013, the U.S. government announced the BRAIN initiative (Brain Research through Advancing Innovative Neurotechnologies), which has the mandate of developing a host of tools to study brain activity.
Moreover, increasing research and development towards understanding neural activity and its application in improving quality of life for patients is also expected to boost the market growth. For instance, in 2017, a team of researchers at Case Western Reserve University successfully regained control of one of patients’ right arm, which was paralyzed from the shoulders down after a cycling accident. This research utilized Blackrock’s Utah Array as a component of an investigational brain-computer interface (an instrument).
Key players operating in the global neuroscience market include, Alpha Omega, Inc., GE Healthcare, Axion Biosystems, Inc., Siemens Healthineers, Scientifica Ltd., Blackrock Microsystems LLC, Femtonics Ltd., LaVision Biotec GmbH, Intan Technologies, NeuroNexus Technologies, Inc., Newport Corporation, Neuralynx Inc., Plexon Inc., Mediso Medical Imaging Systems, Noldus Information Technology, Sutter Instrument Corporation, Thomas Recording GmbH, and Trifoil Imaging Inc.
Neuroscience is the study of structure and function of nervous system which covers activities such as measurement and imaging of the brain activity. Neuroscience is widely used for better understanding of pathophysiology and symptoms for chronic neurological disease such as epilepsy, Alzheimer disease and other dementias. Various hardware components such as CT scan, magnetic resonance imaging (MRI), microscopes, and recording and stimulation solutions are used to perform various research activity that include, investigating neural activity, disease modeling, safety and toxicity studies, and drug discovery.
Market Dynamics
High prevalence of chronic neurological diseases leads to increasing research activities in the field of neuroscience, which in turn is expected to boost growth of the neuroscience market. For instance, according to the Centers for Disease Control and Prevention’s (CDC) factsheet in 2018, on an average, every 40 seconds someone in the U.S. has a stroke. According to CDC’s factsheet in 2018, the annual cost of stroke-related treatment is around US$ 34 billion in the U.S., which includes cost of healthcare services, medicine, and human capital cost. Similarly, The European Union incurs costs of US$ 51.4 billion, annually due to stroke and around 50% of the costs include follow up care cost and potential human capital loss to economy.
Key features of the study:
- This report provides in-depth analysis of the global neuroscience market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2018 – 2026), considering 2017 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, pipeline analysis, market trends, regional outlook, and competitive strategy adopted by key players
- It profiles key players in the global neuroscience market based on the following parameters – company overview, financial performance, market presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include, Alpha Omega, Inc., GE Healthcare, Axion Biosystems, Inc., Siemens Healthineers, Blackrock Microsystems LLC, Femtonics Ltd., Intan Technologies, LaVision Biotec GmbH, Mediso Medical Imaging Systems, Neuralynx Inc., NeuroNexus Technologies, Inc., Newport Corporation, Plexon Inc., Noldus Information Technology, Scientifica Ltd., Sutter Instrument Corporation, Thomas Recording GmbH, and Trifoil Imaging Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product up-gradation, market expansion, and marketing tactics
- The global neuroscience market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the neuroscience market
Detailed Segmentation:
- Global Neuroscience Market, By Component:
- Instrument
- Software
- Services
- Global Neuroscience Market, By End User:
- Hospitals
- Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- Global Neuroscience Market, By Geography:
- North America
- By Component
- Instrument
- Software
- Services
- By End User
- Hospital
- Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- By Country:
- U.S.
- Canada
- Latin America
- By Component
- Instrument
- Software
- Services
- By End User
- Hospital
- Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Component
- Instrument
- Software
- Services
- By End User
- Hospital
- Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Component
- Instrument
- Software
- Services
- By End User
- Hospital
- Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Component
- Instrument
- Software
- Services
- By End User
- Hospital
- Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Component
- Instrument
- Software
- Services
- By End User
- Hospital
- Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- By Country:
- South Africa
- Central Africa
- North Africa
- Company
- Alpha Omega, Inc.*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Market Strategies
- GE Healthcare
- Axion Biosystems, Inc.
- Siemens Healthineers
- Blackrock Microsystems LLC
- Femtonics Ltd.
- Intan Technologies
- LaVision Biotec GmbH
- Mediso Medical Imaging Systems
- Neuralynx Inc
- NeuroNexus Technologies, Inc.
- Newport Corporation
- Plexon Inc.
- Scientifica Ltd.
- Sutter Instrument Corporation
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Component
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Pipeline Analysis
- Mergers, Acquisitions, and Collaborations
- New Product Launches
- Mergers and Acquisitions
- Technological Developments
- Regulatory Scenario
- PEST Analysis
- Epidemiological Data
- Global Neuroscience Market, By Component, 2018 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2025 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Instrument
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Software
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Global Neuroscience Market, By End User, 2018 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2025 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Diagnostic Laboratories
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Research Institutes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Academic Institutes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Global Neuroscience Market, By Region, 2018 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2017 and 2026 (%)
- Y-o-Y Growth Analysis, For Regions, 2017 – 2026
- North America
- Market Size and Forecast, By Component, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Component, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Component, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Component, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of APAC
- Middle East
- Market Size and Forecast, By Component, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Component, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- South Africa
- Central Africa
- North Africa
- Competitive Landscape
- Market Share Analysis
- Company Profiles
- GE Healthcare
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Axion Biosystems, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Siemens Healthineers
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Blackrock Microsystems LLC
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Intan Technologies
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- LaVision Biotec GmbH
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Mediso Medical Imaging Systems
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Neuralynx Inc
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- NeuroNexus Technologies, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- NeuroNexus Technologies, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Newport Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Plexon Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Scientifica Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Sutter Instrument Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 23 market data tables and 26 figures on "Neuroscience Market - Global forecast to 2026”.
Research Methodology
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
- Primary Research (Trade Surveys and Experts Interviews)
- Desk Research
- Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
- National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
- Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
- Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
- Trade association, National and international media and trade press.
- Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
- Scientific journals, and other technical magazines and whitepapers.
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Data Standardization:
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
Data Processing
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
Data Validation
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
- It provides first-hand information on the market dynamics, outlook, and growth parameters.
- Industry experts validates the estimates which helps the company to cement the on-going research study.
- Primary research includes online surveys, face-to face interviews, and telephonic interviews.
The primary research is conducted with the ecosystem players including, but not limited to:
- Raw Material Suppliers
- Manufacturers
- System Integrators
- Distributors
- End-users
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