Global Neurodiagnostics Market By Product (Diagnostic and Imaging Systems, Clinical Testing instruments, Reagents & Consumables), By Indication (Neuro Degenerative Diseases, Epilepsy, Stroke, Headache Disorders), By End-Use (Hospitals, Specialty Clinics, Diagnostic Laboratories, Ambulatory Surgical Centers, Research Laboratories & Institutes), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Neurodiagnostics is the field of healthcare that deals in monitoring, recording, and analyzing the nervous system for the diagnosis of pathologic conditions. A healthcare professional or a technologist records electrical signals stemming from the brain, peripheral nerves, spinal cord, and the motor nerve system using various instruments and techniques.

These professionals prepare a document that is further used by a doctor in the diagnosis and treatment of disorders. The common types of neurological tests are Electroencephalogram (EEG), Polysomnogram (PSG), Intraoperative Neuromonitoring (IONM), Long-Term Monitoring (LTM), etc.

A person performing the procedure related to neurodiagnostics has to meet a specific minimum education qualification, performance standards, abide by a code of ethics, and perform a given procedure under the direction of a physician. Some of these disorders can be traced using neurodiagnostic systems including autonomic disorders, epilepsy, head trauma, brain tumors, Parkinson’s disease, neuromuscular diseases, multiple sclerosis, etc.

Global neurodiagnostics market is segmented on the basis of product type, indication, end-user, and region. This market’s segmentation is listed below:

By Product Type

• Diagnostic and Imaging Systems
  • EEG (Electroencephalogram) Systems
  • EMG (Electromyography) Products
  • MRI Systems
  • CT (Computed Tomography) Scanners
  • Others
• Clinical Testing instruments
  • PCR
  • Next-Generation Sequencing
  • Sanger Sequencing
  • Other Clinical Diagnostic Products
• Reagents & Consumables
  • Solvents
  • Enzymes, Protein & Peptides
  • Probes
  • Buffers
  • Other Reagents

By Indication

• Neuro Degenerative Diseases
• Epilepsy
• Stroke
• Headache Disorders
• Other Indications

By End-User

• Hospitals
• Specialty Clinics
• Diagnostic Laboratories
• Ambulatory Surgical Centers
• Research Laboratories & Institutes

By Region

• North America
  • The US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Korea
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • GCC
  • Israel
  • South Africa
  • Rest of MEA

Market Dynamics–

The increasing incidences of neurological disorders, coupled with technological advancements in diagnostic devices, as well as the increase in awareness levels concerning the early diagnosis of diseases are key factors fueling this market. The increasing incidences of epilepsy is another element that is anticipated to boost this target market’s economic growth.

For instance, according to the WHO (World Health Organization), more than 50 million people are affected by this disorder, and according to the CDC (Centers for Disease Control and Prevention), in 2015, 3.4 million people in the US were suffering from epilepsy.

Product recalls associated with medical diagnostic devices, and the unavailability of skilled medical professionals, along with the low rates of general awareness concerning these diseases among low-income nations, are factors that are hampering the market growth of the global neurodiagnostic industry to a certain extent.

Furthermore, an increase in R&D activities, as well as ample support by respective governments and private organizations, to further augment the healthcare sector in both developed as well as developing nations, is another factor that is expected to create lucrative opportunities for key players by increasing their product offerings and respective geographical presence.

Competitive Landscape

Major players in the market are –

• GE Healthcare
• Siemens Healthineers AG
• Philips Healthcare
• Hitachi Ltd.
• Canon Inc.
• Lifelines Neuro Company LLC
• Natus Medical Incorporated
• F. Hoffmann-La Roche AG
• FUJIFILM Holdings Corporation
• Mitsar Co. Ltd.
• Advanced Brain Monitoring Inc.
• Thermo Fisher Scientific Inc.
• Bio-Rad Laboratories Inc.
• QIAGEN N.V.
• Nihon Kohden Corporation
• ANT Neuro b.v.
• Fonar Corporation
• Fujirebio Diagnostics Inc.
• DRG Instruments GmbH
• Tecan Trading AG
• Motion Lab Systems Inc.
• Rigaku Corporation
• Neusoft Medical Systems Co. Ltd.
• ELMIKO MEDICAL Sp. Z o.o.
• Ridge Diagnostics Inc.
• others

Key Developments:

• In June 2020, Heart2Save and Lumoava developed an ECG necklace, AiVOni Lumoava that helps in self-monitoring by delivering an arrhythmia analysis.
• In September 2020, AliveCOR entered the India market with the launch of a new personal ECG device.
• In February 2019, Philips Healthcare launched the Incisive CT Platform and Ingenia Ambition 1.5T MRI System.

For the Neurodiagnostics Market research study, the following years have been considered to estimate the market size: