Neurological Disorder Diagnostics Market To Find Better Growth with US$ 21,861.8 Mn By 2027 | CAGR: 7.6%: Coherent Market Insights
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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, Middle East, and Africa) is expected to be valued at US$ 12,162.6 million in 2019 and is expected to exhibit a CAGR of 7.6% over the forecast period (2019-2027).
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The increasing number of research and development of novel diagnostic technology by key players is the factor that is expected to drive growth of the global neurological disorder diagnostics market over the forecast period. For instance, in 2017, researchers from Assistance Publique – Hôpitaux de Paris (AP-HP) entered into a collaboration with researchers from ICM (Institut du Cerveau et de la Moelle Epinière) Paris, Brain And Spinal Institute, and Metafora Biosystems to develop a diagnostic blood test for De Vivo disease, a rare neurological illness. Development of such novel methods is expected to create lucrative environment for growth of the in-vitro diagnostics segment.
Moreover, key players in the market are focusing on launching diagnostic tools integrated with artificial intelligence, in order to strengthen their position in the global market. For instance, in 2017, Samsung NeuroLogica Corporation, the healthcare subsidiary of Samsung Electronics Co., Ltd. entered into a collaboration 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. Similarly, China-based Beijing Tiantan Hospital entered into a collaboration with Singapore-based artificial intelligence start-up, Hanalytics, to establish an AI research center for neurology, in 2017. The Hanalytics will work on their ongoing projects such as biopsy research.
Browse 36 Market Data Tables and 30 Figures spread through 237 Pages and in-depth TOC on “Neurological Disorder Diagnostics Market” Global Forecast to 2027, 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, Middle East, and Africa)
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In addition, market players are focusing on development of novel products for diagnosis of neurological disorders, which is expected to drive growth of the market over the forecast period. For instance, in March 2018, Oxford BioDynamics Plc. presented clinical trial data of its novel EpiSwitch test to diagnose Amyotrophic Lateral Sclerosis (ALS), a genetic neurological disorder. EpiSwitch is a non-invasive test to diagnose ALS that could yield results within a day. Similarly, in January 2018, PerkinElmer, Inc. launched a new in-vitro diagnostic (IVD) kit for screening of a genetic neurological disorder, Duchenne Muscular Dystrophy (DMD).
Key Takeaways of the Global Neurological Disorder Diagnostics Market:
- The global neurological disorder diagnostics market is expected to exhibit a CAGR of 7.6% over the forecast period (2019-2027), attributed to frequent product launches, regulatory product approvals, and increasing research and development of novel products by key players. For instance, in April 2018, Siemens Healthineers received the U.S. FDA approval for its new SOMATOM go.All and SOMATOM go.Top computed tomography (CT) systems. SOMATOM go.All has 64-slice and provides 0.33-second rotation time, stellar detector technology, and a robust 75 kW generator. SOMATOM go.Top has 128-slice and provides a fast scanning.
- Among regions, North America held a dominant position in the global neurological disorder diagnostics market in 2018 and is expected to retain its dominance over the forecast period (2019-2027). The regional growth is attributed to increasing number of approvals of novel neurological diagnostic tools by regulatory bodies in the region. For instance, in January 2018, Masimo Corporation announced to rceive the U.S. Food & Drug Administration clearance of its SedLine brain function monitoring system.
- Moreover, growth of the Europe market is attributed to increasing number of launches of novel neurological diagnostic tools by key players. For instance, in March 2018, Siemens Healthineers expanded its product portfolio with the launch of Magnetom Sola, a 1.5T magnetic resonance system with a large 70 cm bore, at the European Conference of Radiology (ECR) in Austria.
- Key players operating in the global neurological disorder diagnostics market include 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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