Neuroimaging involves the use of various scanning techniques such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), and electroencephalography (EEG) to image the structure and function of the brain. Neuroimaging helps in diagnosing brain diseases and other neurological disorders through non-invasive procedures. It enables visualization and assessment of structures and functions of the brain.
The global Neuroimaging Market is estimated to be valued at Us$ 37.63 Bn in 2023 and is expected to exhibit a CAGR Of 6.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the neuroimaging market is the increasing adoption of magnetic resonance imaging technique for brain imaging. Magnetic resonance imaging (MRI) uses strong magnetic fields and radio waves to produce detailed images of the brain and detect abnormalities. MRI has emerged as a valuable tool for clinicians to help diagnose various brain disorders and diseases including Alzheimer's, Parkinson's, epilepsy, multiple sclerosis, brain tumors and stroke. MRI allows visualization of soft tissues without using radiation making it safer compared to computed tomography. Advancements in high field MRI with more tesla strength is enabling better resolution imaging and improved detection capabilities. This is expected to drive the growth of MRI dominated neuroimaging market during the forecast period.
Segment Analysis
The global neuroimaging market is dominated by magnetic resonance imaging (MRI) segment. MRI is considered the gold standard for diagnostic imaging of the central nervous system. It provides superior soft tissue contrast compared to other imaging modalities and often eliminates the need for invasive procedures like angiography or tissue biopsy. MRI is highly preferred for a wide range of neurological applications including brain tumor detection, stroke diagnosis, multiple sclerosis, and epilepsy. Advantages such as non-invasiveness and ability to capture high resolution anatomical images have contributed to its widespread adoption across hospitals and diagnostic centers.
Key Takeaways
The Global Neuroimaging Market Size is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing prevalence of neurological disorders.
Regional analysis:
North America dominated the global neuroimaging market in 2023 with over 30% share, owing to rising healthcare spending, high adoption of advanced technologies, and presence of major market players in the US and Canada. However, Asia Pacific is projected to witness the fastest growth during the forecast period, primarily driven by rising geriatric population, improving healthcare infrastructure, and growing medical tourism in China and India.
Key players analysis:
Key players operating in the neuroimaging market are GE Healthcare, Siemens Healthineers, Philips Healthcare, Toshiba Medical Systems Corporation, Hitachi Healthcare, Canon Medical Systems Corporation, Mindray Medical International Limited, Esaote SpA, NeuroLogica Corporation, NeuroVive Pharmaceutical AG, Brainlab AG, Akili Interactive Labs Inc., Brainomix Ltd., Imaging Science International, Mevis Medical Solutions, NeuroVista, Neusoft Medical Systems, Positron Corporation, Shimadzu Corporation, Trifoil Imaging. These companies are focusing on new product launch and expansion in emerging markets to strengthen their market position.
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