The global neurodiagnostics market size was valued at USD 18.09 billion in 2023 and is anticipated to reach around USD 26.52 billion by 2033, growing at a CAGR of 3.9% from 2024 to 2033.
Advancements in neurodiagnostic devices, such as EEG machines, electromyography (EMG) devices, and neuroimaging equipment, are driving growth in the market. In addition, the increasing prevalence of neurological disorders, technological advancements, and new product development are further expected to drive growth in the market.
The prevalence of neurological disorders such as Alzheimer's disease, Parkinson's disease, and epilepsy is a key driver for this market. For instance, according to the Alzheimer's Association, approximately 6.9 million people in the U.S. aged 65 and over had Alzheimer's in 2024, which included about 73% of people aged 75 and older. This shows high prevalence of this disease among geriatric population.
According to an article published by the World Health Organization (WHO) in October 2022, approximately one in every six people worldwide is estimated to be 60 and over by 2030. This rising proportion of the geriatric population and their susceptibility to neurological disorders is likely to foster demand for neurodiagnostic drive growth in the market.
Furthermore, the market's expansion can be attributed to the company's intensified efforts in designing innovative imaging and diagnostic products aimed at facilitating better and earlier detection techniques. The advancement of cutting-edge imaging technologies such as Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans have improved the precision and efficiency of diagnosis, further driving market growth. The rising awareness about the significance of early detection and treatment of neurological disorders is further anticipated to add to the market growth.
| Report Attribute | Details |
| Market Size in 2024 | USD 18.80 Billion |
| Market Size by 2033 | USD 26.52 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 3.9% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Technology, End Use, and Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | Canon Medical Systems Corporation; Siemens Healthineers AG; Koninklijke Philips N.V.; Thermo Fisher Scientific, Inc.; FUJIFILM Corporation; Natus Medical Incorporated (Natus); Lifelines Neuro; Advanced Brain Monitoring, Inc.; NIHON KOHDEN CORPORATION.; F. Hoffmann-La Roche Ltd; GE HealthCare.; Mitsar Co. LTD. |
The neuroimaging technologies segment dominated the neurodiagnostics market with a revenue share of over 57.86% in 2023. The advancements in neuroimaging technologies and the launch of new and innovative technologies by the key players in the market are further anticipated to drive market growth. For instance, in February 2024, Philips collaborated with Synthetic MR to introduce quantitative brain imaging in MR based on artificial intelligence. The Smart Quant Neuro 3D technology helps in the auto-measurement of different cells in the brain, facilitates decision support for brain diseases, and monitors the effect of therapy. The technology is expected to help in the advancement of neurology care for patients.
The in vitro diagnostics segment is expected to grow at the fastest CAGR of 4.2% over the forecast period. The IVD examinations offer significant insights into disease diagnosis, patient health monitoring, and treatment guidance. The advancement in technology, particularly in terms of portability, accuracy, and cost-effectiveness is further expected to drive segmental growth. For instance, in March 2024, Beckman Coulter and Fujirebio announced the expansion of their partnership agreement to facilitate the development of patient-friendly and blood-based neurodegenerative disease diagnostics. Such partnerships are likely to lead to the advancement of in vitro diagnostics in neurology and foster growth in the market.
The hospitals and clinics segment dominated the market in 2023 with a revenue share of 42.83%. This is attributed to the preferred choice for many patients, positioning these facilities as the primary destination for such services. Furthermore, patients with neurological disorders often require continuous monitoring and follow-up appointments, leading to an increased demand for neurodiagnostic devices in these settings. The advancement of services by hospitals to improve diagnostics and care is further anticipated to drive market growth. For instance, in April 2023, Phoenix Children’s Hospital unveiled its expanded neurodiagnostic laboratory to improve comfort and care for children undergoing electroencephalogram (EEG) and electromyography (EMG) testing, sleep studies, and nerve conduction studies.
The imaging centers segment is to witness the fastest growth rate of 3.9% during the forecast period. This growth can be attributed to several factors, such as technological advancement, growing neurological disorders, and investment in and launch of neurodiagnostic centers. Integrating AI algorithms into neuroimaging analysis has revolutionized the interpretation of scans, allowing for quicker and more precise results. This advancement empowers clinicians to make well-informed decisions, ultimately enhancing diagnostic accuracy. For instance, in September 2022, Qure.ai, a health tech firm, partnered with University Medical Center Rotterdam and Erasmus MC to introduce an AI Innovation Lab for Medical Imaging. The innovation center is expected to explore the role of AI in detecting abnormalities for chest, and neuro, musculoskeletal conditions. The development of such innovation centers is expected to enhance the technologies at imaging centers further and drive market growth.
North America dominated the market with a revenue share of 35.89% in 2023. The region's dominance can be attributed to various factors, such as a well-developed healthcare infrastructure, extensive research and development endeavors, and substantial healthcare spending. For instance, The Indiana NeuroDiagnostic Institute and Advanced Treatment Center (NDI) in Indianapolis is a USD 120 million, and a 159-bed facility opened in March 2019. The facility offers services related to acute and chronic mental illness, traumatic brain injury, neurodegenerative illnesses such as Alzheimer's disease, and other diseases.
In addition, the region witnesses a significant prevalence of neurological conditions, which fuels the need for neurodiagnostic procedures. The existence of robust healthcare systems, effective reimbursement frameworks, and proficient healthcare professionals also play a pivotal role in solidifying North America's position as a leader in the neurodiagnostics market.
U.S. Neurodiagnostics Market Trends
The U.S. neurodiagnostics market in the U.S. accounted for the market share of 26.9% in 2023 due to the increasing prevalence of mental, neurological, and neurodevelopmental disorders in the country. Strong regulatory framework and approval of various neurodiagnostic clinical trials are further anticipated to boost technological advancements in the country and foster market growth. For instance, in May 2023, the US FDA approved a clinical trial for Sense Neuro Diagnostics. The trial is aimed at Validating the algorithm for hemorrhage detection.
Europe Neurodiagnostics Market Trends
Europe neurodiagnostics market was identified as a lucrative region in this industry. The increasing occurrence of neurological disorders and the heightened attention on timely identification and management are fueling market growth. According to the information published by the European Commission, around 165 million Europeans have a brain disorder, and around one in three people are expected to suffer from a neurological or mental disorder in their lives.
The increased number of neurological disorders are also leading to the development and launch of new and innovative products in brain imaging, which is further expected to drive market growth. For instance, in February 2023, the Swoop, which is a portable MR imaging system developed by Hyperfine, Inc., received CE mark approval for brain imaging.
The UK neurodiagnostics market is expected to grow significantly over the forecast period as the increasing number of elderly individuals and the rising incidence of neurological disorders in the country have led to a surge in demand for improved diagnostic tools and techniques. According to The Neurological Alliance, about one in six people in the country suffer from at least one neurological condition. In contrast, around 600,000 people in the country are diagnosed with neurological conditions per year. This is expected to drive the demand for neurodiagnostics in the country and foster market growth.
Asia Pacific Neurodiagnostics Market Trends
Asia Pacific region is expected to grow at the fastest CAGR of 4.5% over the forecast period. The rise in neurological disorders across the Asia Pacific region is a key driver for expanding the neurodiagnostics market. Advancements in neurodiagnostic devices are also playing a crucial role in the market's growth in this region. Significant investments by governments and private entities in healthcare infrastructure have improved access to neurodiagnostic services. In December 2022, an AI-backed neurological healthcare startup in India, In-Med Prognostics, raised USD 2.13 million in funding. The startup is engaged in neuro analysis, which is expected to help in the assessment of neurological disorders, including Dementia, Alzheimer's, and Parkinson's, at affordable prices. The emergence of such startups is likely to drive technological advancements and growth in the market.
China's neurodiagnostics market is expected to grow rapidly in the coming years due to the rise in the geriatric population and the growing occurrence of neurological disorders, which necessitates the development of advanced neurodiagnostic technologies. According to the study published in the National Library of Medicine in February 2023, as per the national cross-sectional study in China, around 15.07 million people aged 60 years and above living with dementia, which is about a quarter of all dementia patients worldwide.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Neurodiagnostics market.
By Technology
By End Use
By Region
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Neurodiagnostics Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.2. Market Restraints Analysis
3.4. Neurodiagnostics Market Analysis Tools
3.4.1. Porter’s Analysis
3.4.1.1. Bargaining power of the suppliers
3.4.1.2. Bargaining power of the buyers
3.4.1.3. Threats of substitution
3.4.1.4. Threats from new entrants
3.4.1.5. Competitive rivalry
3.4.2. PESTEL Analysis
3.4.2.1. Political landscape
3.4.2.2. Economic and Social landscape
3.4.2.3. Technological landscape
3.4.2.4. Environmental landscape
3.4.2.5. Legal landscape
Chapter 4. Neurodiagnostics Market: Technology Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Neurodiagnostics Market: Technology Movement Analysis, 2024 & 2033 (USD Million)
4.3. Neuroimaging Technologies
4.3.1. Neuroimaging Technologies Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.3.2. Computed Tomography (CT)
4.3.2.1. Computed Tomography (CT) Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.3.3. Magnetic Resonance Imaging (MRI)
4.3.3.1. Magnetic Resonance Imaging (MRI) Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.3.4. Nuclear Medicine Imaging (PET, SPECT)
4.3.4.1. Nuclear Medicine Imaging (PET, SPECT) Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.3.5. Near infrared spectroscopic imaging (NIRS)
4.3.5.1. Near infrared spectroscopic imaging (NIRS) Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.3.6. Electro-encephalography (EEG)
4.3.6.1. Electro-encephalography (EEG) Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.3.7. Magneto-encephalography (MEG)
4.3.7.1. Magneto-encephalography (MEG) Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.3.8. Voxel based morphometry (VBM)
4.3.8.1. Voxel based morphometry (VBM) Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.4. In Vitro Diagnostics
4.4.1. In Vitro Diagnostics Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
4.5. Neuroinformatics
4.5.1. Neuroinformatics Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
Chapter 5. Neurodiagnostics Market: End Use Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Neurodiagnostics Market: End Use Movement Analysis, 2024 & 2033 (USD Million)
5.3. Hospitals and Clinics
5.3.1. Hospitals and Clinics Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
5.4. Diagnostic Laboratories
5.4.1. Diagnostic Laboratories Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
5.5. Imaging Centers Market
5.5.1. Imaging Centers Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
5.6. Others
5.6.1. Others Market Revenue Estimates and Forecasts, 2021 & 2033 (USD Million)
Chapter 6. Neurodiagnostics Market: Regional Estimates & Trend Analysis
6.1. Neurodiagnostics Market Share, By Region, 2024 & 2033 (USD Million)
6.2. North America
6.2.1. North America Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.2.2. U.S.
6.2.2.1. U.S. Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.2.3. Canada
6.2.3.1. Canada Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.2.4. Mexico
6.2.4.1. Mexico Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3. Europe
6.3.1. Europe Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.2. UK
6.3.2.1. UK Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.3. Germany
6.3.3.1. Germany Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.4. France
6.3.4.1. France Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.5. Italy
6.3.5.1. Italy Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.6. Spain
6.3.6.1. Spain Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.7. Denmark
6.3.7.1. Denmark Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.8. Sweden
6.3.8.1. Sweden Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.3.9. Norway
6.3.9.1. Norway Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.4. Asia Pacific
6.4.1. Asia Pacific Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.4.2. China
6.4.2.1. China Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.4.3. Japan
6.4.3.1. Japan Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.4.4. India
6.4.4.1. India Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.4.5. South Korea
6.4.5.1. South Korea Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.4.6. Australia
6.4.6.1. Australia Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.4.7. Thailand
6.4.7.1. Thailand Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.5. Latin America
6.5.1. Latin America Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.5.2. Brazil
6.5.2.1. Brazil Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.5.3. Argentina
6.5.3.1. Argentina Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.6. Middle East and Africa
6.6.1. Middle East and Africa Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.6.2. Saudi Arabia
6.6.2.1. Saudi Arabia Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.6.3. UAE
6.6.3.1. UAE Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.6.4. South Africa
6.6.4.1. South Africa Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
6.6.5. Kuwait
6.6.5.1. Kuwait Neurodiagnostics Market Estimates and Forecasts, 2021 & 2033 (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis by Key Market Participants
7.2. Company Categorization
7.3. Company Heat Map Analysis
7.4. Company Profiles
7.4.1. Canon Medical Systems Corporation
7.4.1.1. Participant’s Overview
7.4.1.2. Financial Performance
7.4.1.3. Product Benchmarking
7.4.1.4. Recent Developments/ Strategic Initiatives
7.4.2. Siemens Healthineers AG
7.4.2.1. Participant’s Overview
7.4.2.2. Financial Performance
7.4.2.3. Product Benchmarking
7.4.2.4. Recent Developments/ Strategic Initiatives
7.4.3. Koninklijke Philips N.V.
7.4.3.1. Participant’s Overview
7.4.3.2. Financial Performance
7.4.3.3. Product Benchmarking
7.4.3.4. Recent Developments/ Strategic Initiatives
7.4.4. Thermo Fisher Scientific, Inc.
7.4.4.1. Participant’s Overview
7.4.4.2. Financial Performance
7.4.4.3. Product Benchmarking
7.4.4.4. Recent Developments/ Strategic Initiatives
7.4.5. FUJIFILM Corporation
7.4.5.1. Participant’s Overview
7.4.5.2. Financial Performance
7.4.5.3. Product Benchmarking
7.4.5.4. Recent Developments/ Strategic Initiatives
7.4.6. Natus Medical Incorporated (Natus)
7.4.6.1. Participant’s Overview
7.4.6.2. Financial Performance
7.4.6.3. Product Benchmarking
7.4.6.4. Recent Developments/ Strategic Initiatives
7.4.7. Lifelines Neuro
7.4.7.1. Participant’s Overview
7.4.7.2. Financial Performance
7.4.7.3. Product Benchmarking
7.4.7.4. Recent Developments/ Strategic Initiatives
7.4.8. Advanced Brain Monitoring, Inc.
7.4.8.1. Participant’s Overview
7.4.8.2. Financial Performance
7.4.8.3. Product Benchmarking
7.4.8.4. Recent Developments/ Strategic Initiatives
7.4.9. NIHON KOHDEN CORPORATION.
7.4.9.1. Participant’s Overview
7.4.9.2. Financial Performance
7.4.9.3. Product Benchmarking
7.4.9.4. Recent Developments/ Strategic Initiatives
7.4.10. F. Hoffmann-La Roche Ltd
7.4.10.1. Participant’s Overview
7.4.10.2. Financial Performance
7.4.10.3. Product Benchmarking
7.4.10.4. Recent Developments/ Strategic Initiatives
7.4.11. GE HealthCare.
7.4.11.1. Participant’s Overview
7.4.11.2. Financial Performance
7.4.11.3. Product Benchmarking
7.4.11.4. Recent Developments/ Strategic Initiatives
7.4.12. Mitsar Co. LTD.
7.4.12.1. Participant’s Overview
7.4.12.2. Financial Performance
7.4.12.3. Product Benchmarking
7.4.12.4. Recent Developments/ Strategic Initiatives
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers