Neuroscience Market – The Boon for Neurology Sector

Increasing cases of neurological disorders, which include Alzheimer’s, Parkinson’s diseases, and other dementias are expected to boost the neuroscience market growth over the forecast period. For instance, according to according to the World Alzheimer Report 2015 published by Alzheimer’s Disease International (ADI), in 2015 the new dementia cases in the regions were 4.9 million (49.0%) in Asia, 2.5 million (25.0%) in Europe, 1.7 million (18.0%) in the Americas, and 0.8 million (8.0%) in Africa. Furthermore, according to the Parkinson's UK, in 2015 there were around 137,000 people suffered from Parkinson’s in the U.K.

Parkinson’s disease is the second most common age-related neurodegenerative disorder after Alzheimer’s disease. For instance, according to the Parkinson's UK, in 2015, estimated number of people suffering with the Parkinson’s disease in Northern Ireland were 241, amongst which 157 were male and 85 were female

The global neuroscience market size was valued at US$ 27,630.13 million in 2018, and is expected to exhibit a CAGR of 3.9% over the forecast period (2019-2027).

Figure 1. Global Neuroscience Market Value (US$ Mn), by Region, 2018

Neuroscience  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Inorganic strategies adopted by the major players is expected to drive growth of the market over the forecast period

Major market players are focused on adopting inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions which are expected to boost the market growth over the forecast period. For instance, in April 2019, Philips and Hong Duc General Hospital in Ho Chi Minh City in Vietnam entered into a seven-year partnership agreement, under which Philips will offer Hong Duc General Hospital with the latest medical imaging, patient monitoring, and healthcare IT solutions.

Moreover, in August 2017, Charles River Laboratories International, Inc. acquired Brains On-Line, a contract research organization (CRO), for expansion of Charles River’s portfolio of Central Nervous Systems (CNS) services.

Figure 2. Global Neuroscience Market Share (%), by Component, 2019 and 2027

Neuroscience  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Global Neuroscience Market- Regional Insights

Rising product launches by market players are expected to drive growth of the market. North America is expected to hold dominant position in the market, owing to large healthcare industry in the region. To retain its position in the market key players are focused on launching new products in the region. For instance, in November 2018, GE Healthcare launched Revolution Apex, a new CT scanner in its Revolution product portfolio. This device features Quantix 160 X-Ray tube and deep learning imaging reconstruction, a system built on GE’s Edison, an artificial intelligent platform to produce high quality images in challenging cases.

Moreover, Europe is expected to hold the second largest market share over the forecast period, owing to product launches in the market. For instance, in January 2018, Philips launched a new line of AI-powered imaging devices in India named Access CT 32 Slice, Ingenia Prodiva 1.5T MRI, and Dura Diagnost F30 Digital X-ray.

Moreover, Asia Pacific is expected to witness significant growth in the market, owing to increasing product launches in the market. For instance, in April 2018, Qure.ai, an artificial intelligent company based in Mumbai, India launched new AI-powered technology, which supports interpretation of brain. The platform supports in identifying bleedings in the internal organ or tissue, fractures, and other critical abnormalities in head through the CT scans.

Key Players

Major 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 nervous system, which is related to evaluating and imaging of the brain activity. Neuroscience is a broad term, which focuses on molecular, cellular, developmental, structural, functional, evolutionary, computing, psychosocial, and medical aspects of the nervous system. The advancement in biology, pharmaceutical science, medicine, cognitive science, biomedical engineering is evolving neuroscience. Neuroscience have application in variety of areas for better understanding of pathophysiology and symptoms various for chronic neurological disease such as epilepsy, and Alzheimer disease. This in turn aids in developing novel treatment for these diseases.

Various research activities such as investigating neural activity, disease modeling, safety and toxicity studies, and drug discovery are performed with the help of neuroscience instruments such as CT scan, MR Imaging, microscopes, signal processing system, brain neuron interface system, other recording, and stimulation solutions.

Furthermore, growing number of neurological disorder cases are expected to boost growth of the market over the forecast period. For instance, according to the World Health Organization, in September 2019 there were around 50 million people who had dementia and around 10 million new cases are added every year.

Market Dynamics

The neuroscience market is expected to witness significant growth over the forecast period, owing to increasing number of neurological disease cases. For instance, according to the World Alzheimer Report 2015 published by Alzheimer’s disease International (ADI), states that globally there were nearly 9.9 million new cases of dementia in 2015 and 46.8 million people were living with dementia in 2015 worldwide. The World Alzheimer Report 2015, also estimates that the number of cases will reach around 74.7 million by 2030 and 131.5 million by 2050.

Product approvals by regulatory authorities are expected to drive growth of neuroscience market over the forecast period. For instance, in August 2017, Siemens Healthineers received certification mark (CE) approval for the 7 Tesla magnetic resonance (MR) scanner Magnetom Terra, an ultra-high-field MR scanner for neurological and musculoskeletal examinations. Moreover, in June 2018, Royal Philips received the 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Ingenia Elition 3.0T MR solution and two clinical applications, Philips Compressed SENSE and 3D APT. This solution helps clinicians to perform examination up to 50.0% faster, increase diagnostic efficacy, and enhance the patient experience.

Market players are focused on launching technologically advanced products in the market, which is expected to fuel the market growth over the forecast period. For instance, in November 2018, GE Healthcare launched Edison platform with artificial intelligent applications at Radiological Society of North America (RSNA) 2018 This novel platform with AI apps will support hospitals to develop algorithms and manage data for imaging and precision medicine. These apps includes AIRx, tool for MRI brain scanning and others.

Key features of the study:

  • This report provides in-depth analysis of the neuroscience market and provides market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global neuroscience market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as part of this study 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.
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, technology upgradation, 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 various strategy matrices used in analyzing the neuroscience market

Detailed Segmentation:

  • Global Neuroscience market, By Component:
    • Instruments
    • Software
    • Services
  • Global Neuroscience market, By End User:
    • Hospitals
      • Diagnostic Laboratories
      • Research Institutes
      • Academic Institutes
  • Global Neuroscience market, By Region:
    • North America
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institute
        • Academic Institutes
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Component:
        • Instruments
        • Software
        • Services
      • By End User:
        • Hospitals
        • Diagnostic Laboratories
        • Research Institutes
        • Academic Institutes
      • By Country/Region:
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Alpha Omega, Inc.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • 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
    • Trifoil Imaging Inc

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. 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)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Merger & Acquisitions
    • Product Launch
    • Regulatory Scenario
    • Pest Analysis
  4. Global Neuroscience Market, By Component, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Instrument
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Software
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Services
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Neuroscience Market, By End User, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic Laboratories
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Research Institutes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Academic Institutes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Neuroscience Market, By Region, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2016 and 2026 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Alpha Omega, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Axion Biosystems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Siemens Healthineers
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Blackrock Microsystems LLC
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Femtonics Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • LaVision Biotec GmbH
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Intan Technologies
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • NeuroNexus Technologies Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Newport Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Neuralynx Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Plexon Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Mediso Medical Imaging Systems
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Noldus Information Technology
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sutter Instrument Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Thomas Recording GmbH
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Trifoil Imaging Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Scientifica Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse 23 market data tables and 26 figures on "Neuroscience Market - Global forecast to 2027”.

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.


Data Triangulation Methodology | Coherent Market Insights

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.

Market Analysis | Coherent Market Insights

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