The global neurodiagnostics market size is expected to grow from USD 6.20 billion in 2020 to USD 8.91 billion by 2026 at a CAGR of 6.2%.
Demand for neurodiagnostics products is expected to grow mainly due to factors such as increased morbidity and morbidity, technological advances, patient-focused growth in early and early diagnosis, a growing number of diagnostic centers and hospitals, and the use of biomarker printing diagnostics.
The market, by condition, is divided into neurodegenerative diseases, epilepsy, stroke, headache disorders, sleep disorders, and other conditions (includes autism, schizophrenia, Williams syndrome, Landau-Kleffner syndrome, depression, attention-deficit hyperactivity disorder (ADHD), and dyslexia). In 2019, the neurodegenerative diseases segment is expected to account for the largest share in the neurodiagnostics market. The increasing increase in traumatic brain injury, dementia, Parkinson's disease, and Huntington's disease, as well as the growing number of neurological tests for these conditions, are leading to the growth of this market segment.
By end-user, the market is divided into hospitals & surgical centers, diagnostic laboratories & imaging centers, neurology centers, ambulatory care centers (ACCs), and research laboratories & academic institutes. In 2020, hospitals & surgical centers had the largest share in the neurodiagnostics market. A large proportion of this category of end-users may be mainly due to the financial capacity of hospitals to purchase expensive equipment, such as neurodiagnostic devices. Hospitals also have the highest number of trained specialists in performing complex diagnostic procedures using neurodiagnostic tools than any other end users, which is one of the factors contributing to market growth.
North America had the largest market share. North America is a well-established market for medical devices. The availability of a highly developed health care system, the high acceptance of new neurodiagnostic tools among medical professionals, the full availability of high-quality neurodiagnostic tools, and the large number of companies producing low-level neurodiagnostic devices or major US driving capabilities market in North America.
The major players in the neurodiagnostics market are Thermo Fisher Scientific, Inc. (US), GE Healthcare (US), Bio-Rad Laboratories (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Canon, Inc. (Japan), Natus Medical Incorporated (US), Hoffman-La Roche AG (Switzerland), Hitachi, Ltd. (Japan), FUJIFILM Holdings Corporation (Japan), Mitsar Co., Ltd. (Russia), Lifelines Neuro Company, LLC (US), QIAGEN N.V. (Netherlands), Advanced Brain Monitoring (US), and Nihon Kohden Corporation (Japan).