Global Neuroscience Market Size (2024 - 2029)

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 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.