Global Neurological Disorder Diagnostics Market, by Technology (Imaging and In Vitro Diagnostics), by Disease Indication (Genetic Neurological Disorders, Immunological Neurological Disorders, Paraneoplastic Syndrome, Paraproteinemic Neuropathies, and Others), by End User (Hospitals & Clinics, Diagnostic Centers, and Ambulatory Care Centers), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 10,774.6 Mn in 2017, and is projected to exhibit a CAGR of 7.3% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights. According to the Coherent Market Insights analysis global neurological disorder diagnostics market is expected to show a significant growth in the near future owing to frequent launches of novel diagnostic products in the market by key players.
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For instance, in 2017, Koninklijke Philips N.V. launched its latest MR Prodiva 1.5T, a magnetic resonance imaging (MRI), which provides enhanced clinical performance, workflow, and patient experience. Furthermore, in March 2018, Koninklijke Philips N.V. also launched a new 3-tesla MRI scanner, Elition 3.0T, which reduces scanning time by 50%. Furthermore, in 2017, Samsung NeuroLogica launched an upgraded version of its previous BodyTom 32-slice CT scanner. The new upgraded version features new visual design, upgraded software, hardware, and workstation. Hence, key players in the market are focused on developing and updating their neurological diagnostic devices with latest technologies and are launching them in market, in order to increase their presence with advanced portfolio and to gain competitive advantage by providing products with latest technologies. Launches of such advanced neurological disorder diagnostics products is expected to aid in growth of the global neurological disorder diagnostics market over the forecast period.
Key players in the market are focusing on rapid research and development activities, in order to launch diagnostic tools integrated with artificial intelligence. This is expected to aid in gaining share in the market and also create a lucrative opportunity for other key players to focus on and provide advance diagnostic tools. For instance, in 2017, Samsung NeuroLogica Corporation, the healthcare subsidiary of Samsung Electronics Co., Ltd. collaborated with MedyMatch Technology, Ltd. to integrate artificial intelligence (AI) clinical decision support technology developed by MedyMatch Technology in its computed tomography (CT) and other imaging equipment. Increasing approval for novel neurological disorder diagnostic products is also expected to fuel growth of the global neurological disorder diagnosis market. For instance, in April 2018, Canon Medical Systems received 510 (k) clearance from the U.S. Food and Drug Administration for its new Aquilion Precision (CT) scanner. Aquilion Precision is an Ultra-High Resolution CT system (UHR CT).
Browse 40 Market Data Tables and 42 Figures spread through 231 Pages and in-depth TOC on Neurological Disorder Diagnostics Market by Technology (Imaging, and In Vitro Diagnostics), by Disease Indication (Genetic Neurological Disorders, Immunological Neurological Disorders, Paraneoplastic Syndrome, Paraproteinemic Neuropathies, and Others), and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2026
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Increasing collaborations among various research institutes for development of novel diagnosis techniques for neurological disorders is expected to drive growth of neurological disorder diagnostics market growth in the near future. For instance, in 2017, Singapore-based National Neuroscience Institute and Nanyang Technological University, Singapore (NTU Singapore) collaborated for development of novel and innovative technologies to better diagnose and treat patients with neurological conditions such as Parkinson’s disease and brain injuries.
Key Takeaways of the Neurological Disorder Diagnostics Market:
The global neurological disorder diagnostics market is expected to exhibit a CAGR of 7.3% over the forecast period (2018 – 2026), owing to frequent product launches, approvals, and increasing research and development activities by key players for development of novel products
North America held the dominant position in the global neurological disorder diagnostics market and is expected to retain its dominance over the forecast period (2018 – 2026). This is due to increasing approval of novel neurological diagnostic tools in the region. For instance, in January 2018, Masimo Corporation announced the U.S. Food & Drug Administration clearance for SedLine brain function monitoring system.
Launches of novel neurological diagnostic tools by key players in the region are expected to drive significant growth of the Europe neurological disorder diagnostics market in the near future. For instance, in 2015, Hitachi Medical Systems Europe Holding AG, a Switzerland-based subsidiary of Hitachi Medical Corporation, launched its new generation of OASIS- a Open High-Field 1.2T MRI.
Major players operating in the neurological disorder diagnostics market are Siemens Healthineers, Koninklijke Philips N.V., General Electric Company, Esaote SpA, NeuroLogica Corporation, Masimo Corporation, York Instruments Ltd., Neusoft Medical Systems, and Canon Medical Systems Corporation
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