Neuroscience Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Neuroscience Market Report is Segmented by Technology (Brain Imaging, Neuro-Microscopy, Electrophysiology, Neuro-Cellular Manipulation, Neuroproteomic Analysis, Animal Behavior Analysis, and Other Technologies), Component (Instruments and Consumables and Software and Services), End User (Hospitals, Diagnostic Laboratories, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Market Size and Value (USD) for the Above Segments.

Neuroscience Market Size

Neuroscience Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 36.60 Billion
Market Size (2029) USD 49.40 Billion
CAGR (2024 - 2029) 6.18 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Neuroscience Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Global Neuroscience Market with other markets in Healthcare Industry

Biotechnology

Pharmaceuticals

Healthcare IT

Medical Devices

Animal Health

Device Drug Combination

Neuroscience Market Analysis

The Global Neuroscience Market size is estimated at USD 36.60 billion in 2024, and is expected to reach USD 49.40 billion by 2029, growing at a CAGR of 6.18% during the forecast period (2024-2029).

Factors such as the rising disease burden of brain-associated disorders, advancements in neuroscience and neurotechnology, increasing research and development expenditures, and government funding are the major driving factors for the neuroscience market.

The anticipated rise in the number of patients affected by Alzheimer’s and other dementias underscores the urgent need for innovative treatments and interventions, driving projected growth in the neuroscience market. For instance, according to the Alzheimer’s Association 2024 Alzheimer's Disease Facts and Figures, approximately 6.9 million Americans aged 65 and above were diagnosed with Alzheimer's dementia, with 73% of them being 75 years or older in 2023. As age advances, so does the risk of dementia, leading to a projected rise in the number and proportion of Americans affected by Alzheimer's or other dementias in the coming years.

Similarly, according to the WHO report published in September 2022, more than 55.0 million people lived with dementia globally, and there were nearly 10.0 million new cases every year. Thus, the rising prevalence of neurological disorders among the population is expected to increase the demand for neuroscience technology such as brain imaging and neuro-microscopy, thereby augmenting the market growth during the forecast period.

In addition, technological advancements related to neuroscience for brain-associated disorders are expected to impact the neuroscience market growth positively. For instance, in June 2023, a prominent neuroscientist highlighted that the evolution of advanced neuroimaging techniques is a pivotal advancement in neuroscience in India. Advancements in magnetic resonance imaging (MRI) have been propelled by the evolution of functional MRI (fMRI) techniques and the advent of high-resolution imaging. Thus, such technological advancements increase the efficacy of neuroscience instruments, which is expected to drive market growth over the forecast period.

However, ethical concerns regarding animal experiments and the high cost of specific instruments likely hinder market growth during the forecast period.

Neuroscience Market Trends

Brain Imaging is Expected to Hold a Significant Share in the Neuroscience Market During the Forecast Period

Brain imaging is expected to hold a significant market share by technology during the forecast period. Magnetic resonance imaging (MRI) is considered the best tool for diagnostic imaging and neuroscience research. It provides morphological images with the highest spatial resolution, unmatched soft tissue contrast, and unique functional information about the central nervous system (CNS). For instance, according to the data published by the University of California in December 2023, the ultra-high resolution imaging scanner enables researchers to investigate changes in brain circuitry associated with various disorders. These include degenerative diseases, schizophrenia, and developmental disorders such as autism spectrum disorder. Therefore, developments in brain imaging focused on improving cognition and improving brain functions will likely drive the market during the study period.

Moreover, the increasing focus on research and development is leading to the development of effective neurofeedback systems, thereby contributing to market growth. For instance, as per the National Institute for Health and Care Research (NIHR) Maudsley Biomedical Research Centre in 2022, the Medical Research Council invested GBP 1.3 million (USD 1.58 million) for a larger trial with 100 children with attention deficit hyperactivity disorder (ADHD). This will compare MRI-neurofeedback to a placebo unrelated to their brain activity. The work also led to new collaborations locally and with the National Institute of Mental Health and Dresden University. The team has since secured funding (approximately GBP 2 million (USD 2.43 million) from NIHR, Action Medical Research) to trial other brain-based therapies in ADHD, including different types of non-invasive brain stimulation treatments such as transcranial direct current stimulation and stimulation of the trigeminal nerve, which is responsible for sensations in the face.

Due to the high acceptance of MRI, market players continuously focus on product approvals and launches, propelling the segment's growth. For instance, in February 2024, Royal Philips launched its Smart Quant Neuro 3D, marking a significant leap in objective decision support for diagnosing and evaluating therapies for brain disorders such as multiple sclerosis (MS), traumatic brain injury (TBI), and dementia. The cutting-edge Smart Quant Neuro 3D technology automatically measures various brain tissues, bolstering decision-making in brain disease management, tracking disease progression, and monitoring therapeutic effects. Therefore, all these factors, such as increasing focus on research and development and new product launches, are expected to drive the overall segment growth.

Research Funding for Neurosciences (In USD Billion), United States, 2023-2025

North America is Expected to Witness Healthy Growth During the Forecast Period

North America is expected to hold a significant share during the forecast period. The major factors contributing to the growth of the market are the rise in funding for various research regarding neurodegenerative diseases, the increase in neurological disorders prevalence and awareness, the rising geriatric population, and the presence of key market players. For instance, according to data from the Alzheimer’s Association 2024 report, as the risk of dementia escalates with age, the number and percentage of Americans affected by Alzheimer's and other dementias is set to rise. Projections indicate that the United States population aged 65 and older will expand from 58 million in 2022 to 82 million by 2050. Thus, owing to such a high burden of neurological diseases is expected to propel the demand for neuroscience technology.

Also, the growing research findings on brain injury are expected to increase the need for neuroscience technology devices, which is expected to drive market growth in the region. For instance, in June 2024, Brain Canada, in collaboration with the Brain Changes Initiative (BCI), planned to allocate USD 1.1 million through the "Innovation Grants for Research Impact in Traumatic Brain Injury" program. This funding aims to bolster brain injury research and enhance brain health across Canada. Therefore, the market is expected to grow in North America during the forecast period due to the above-mentioned factors, such as increasing neurological disorders and growing research funding.

Neuroscience Market - Growth Rate by Region

Neuroscience Industry Overview

The neuroscience market is semi-consolidated and consists of many players, including Biobserve GmbH, Doric Lenses Inc., GE Healthcare, Kernel, Laserglow Technologies, NeuroNexus Technologies, Noldus Information Technology, and Siemens Healthineers. All these companies hold a substantial market share.

Neuroscience Market Leaders

  1. Doric Lenses Inc.

  2. GE Healthcare

  3. Siemens Helthineers

  4. Laserglow Technologies

  5. Medtronic PLC

*Disclaimer: Major Players sorted in no particular order

Neuroscience Market Concentration
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Neuroscience Market News

  • March 2024: Precision Neuroscience Corporation (Precision) inaugurated two new clinical study sites. These sites are located at the Mount Sinai Health System and the Perelman School of Medicine at the University of Pennsylvania (Penn Medicine). These groundbreaking studies mark a significant advancement in deciphering the brain's role in movement control, closely aligning with Precision's dedication to revolutionizing the lives of those with neurological disorders.
  • July 2023: Flow Neuroscience, known for its Flow tDCS headset designed for at-home, non-invasive brain stimulation to combat depression, unveiled the outcomes of its pivotal clinical trial sanctioned by the FDA. Results indicate that the Flow headset outperformed the most frequently prescribed antidepressants, proving to be twice as effective in treating depression.

Global Neuroscience Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Disease Burden of Brain-associated Disorders

      2. 4.2.2 Advancement in the Field of Neuroscience and Neuro-technology

      3. 4.2.3 Increasing R&D Expenditure and Government Funding

    3. 4.3 Market Restraints

      1. 4.3.1 Ethical Concerns Regarding Animal Experiments

      2. 4.3.2 High Cost of Certain Instruments

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value – USD)

    1. 5.1 By Technology

      1. 5.1.1 Brain Imaging

      2. 5.1.2 Neuro-microscopy

      3. 5.1.3 Electrophysiology

      4. 5.1.4 Neuroproteomic Analysis

      5. 5.1.5 Animal Behaviour Analysis

      6. 5.1.6 Other Technologies

    2. 5.2 By Component

      1. 5.2.1 Instruments and Consumables

      2. 5.2.2 Software and Services

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Diagnostic Laboratories

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Biobserve GmbH

      2. 6.1.2 Doric Lenses Inc.

      3. 6.1.3 GE Healthcare

      4. 6.1.4 Kernel

      5. 6.1.5 NeuroNexus Technologies

      6. 6.1.6 Noldus Information Technology

      7. 6.1.7 Laserglow Technologies

      8. 6.1.8 Siemens Healthineers

      9. 6.1.9 Medtronic PLC

      10. 6.1.10 Canon Medical Systems Corporation

      11. 6.1.11 Neusoft Medical Systems Co. Ltd

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Neuroscience Industry Segmentation

As per the scope, neuroscience refers to studying the brain and nervous system, including molecular neuroscience, cognitive neuroscience, psychophysics, computational modeling, and various central and peripheral nervous system disorders.

The neuroscience market is segmented by technology, components, end users, and geography. By technology, the market is segmented into brain imaging, neuro-microscopy, electrophysiology, neuro-cellular manipulation, neuroproteomic analysis, animal behavior analysis, and other technologies. By component, the market is segmented into instruments and consumables and software and services. By end user, the market is segmented into hospitals, diagnostic laboratories, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD) for the above segments.

By Technology
Brain Imaging
Neuro-microscopy
Electrophysiology
Neuroproteomic Analysis
Animal Behaviour Analysis
Other Technologies
By Component
Instruments and Consumables
Software and Services
By End User
Hospitals
Diagnostic Laboratories
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Neuroscience Market Research Faqs

The Global Neuroscience Market size is expected to reach USD 36.60 billion in 2024 and grow at a CAGR of 6.18% to reach USD 49.40 billion by 2029.

In 2024, the Global Neuroscience Market size is expected to reach USD 36.60 billion.

Doric Lenses Inc., GE Healthcare, Siemens Helthineers, Laserglow Technologies and Medtronic PLC are the major companies operating in the Global Neuroscience Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Global Neuroscience Market.

In 2023, the Global Neuroscience Market size was estimated at USD 34.34 billion. The report covers the Global Neuroscience Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Neuroscience Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Global Neuroscience Industry Report

Statistics for the 2024 Neuroscience market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Neuroscience analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Neuroscience Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)