Neuroscience Market Synopsis

Neuroscience Market Size Was Valued at USD 43.5 Billion in 2023 and is Projected to Reach USD 71.0 Billion by 2032, Growing at a CAGR of 5.6% From 2024-2032.

Neuroscience involves the analysis of the nervous system from anatomical structure to origin, function, and even pathology. It is well known that the human brain contains 86 billion neurons. Neurobiology is the branch of biology that deals with the biological components that make up the nervous system. Neurological disorders include epilepsy, brain cancer, Alzheimer’s, and traumatic brain injuries. The exploration of brain function is realized through neuroimaging, including functional magnetic resonance imaging (fMRI) and electroencephalography (EEG). Functional MRI and EEG are also used to scrutinize alterations in brain activity Functional MRI and EEG are also used to review changes in brain activity.

Cognitive neuroscience involves the investigation of the neural bases of mental operations. It arises from the convergence of neuroscience with psychology. Cognitive brain function exploration is advisable to prescribe for the elderly population as this population group has a higher risk of developing such diseases as Alzheimer’s and dementia. Growth within the neuroscience industry is based on exploring the cellular, behavioral, operative, molecular, evolutionary as well as therapeutics associated to the neuro system.

Newer trends in the neuroscience industry include rising use of artificial intelligence in healthcare particularly in the neuroscience domain and consistent innovation of new generation MRI like miniaturization in MRI machines.

• Rising incidence of degenerative neurological disorders, which in turn enhances the reaching of neuroscience devices, is one of the key trends prospering the global neuroscience market size. Technological innovations in neuroscience like generative AI, BCI, and portable MRI units and their application in the neuroscience market are also helping in market growth. Such technologies help in identifying neurological disorders during their prodromal stage, making it difficult for these ailments to cause longterm damage as doctors prescribe medication at this stage.
• Current reachable aspects of the Global neuroscience market are getting into a new field of connectomics, which are detailed structural connectivity maps where one can see all the neurons in detail. This is information that can be used by the leading players in the field to look forward to other more advanced technologies required to investigate the environment of behavior, from decision-making all the way to implementation.
• Neurological disorders: Risk factors in socio-centric populations have emerged as a significant concern for the global health care fraternity. Extension of Life expectancy has greatly increased the occurrence of elderly people. The elderly group or age bracket is vulnerable to de manageable neurological illnesses like the Alzheimer’s disease, Parkinson’s disease, and multiple system atrophy.

Neuroscience Market Trend Analysis

Rise in Neurological Disorders

• Neurological disorders, including Parkinson’s disease, Alzheimer’s, schizophrenia, and various other conditions affecting the brain, are consequently leading to a higher incidence of death, making the market expand at a faster rate. In addition to this, the growing use of neuroimaging devices and the ongoing research and investigation on brains and their mapping also drive the market growth.
• Moreover, the governments of countries across the world are adopting measures favorable to neurological diseases and the treatments available. In addition to this, the increased use of microscopy, optogenetics, MRI and electrophysiology instruments to diagnose several neuro disorders is further driving the market growth rate.

Growing awareness regarding the benefits of advanced neuroscience devices

• The market players are focusing on advanced technologies for medical device manufacturing to increase its productivity and to increase patient compliance to boost its market share. Besides, the increasing cognition of the effectiveness of the enhanced neuroscience equipment including an MRI and neuro microscopes in combination with additional imaging tools as opposed to the stand-alone imaging equipment is the key reason driving the enhanced neuroscience devices market. Other factors contributing to the market growth include swelling government support being extended toward purchase of and investments toward research and development activities, premier advancements in the neuroscience and neuro-technology domains, escalating healthcare expenditure levels, enlarging base of geriatric population, and enhancements witnessed in related healthcare infrastructure.

Neuroscience Market Segment Analysis:

Neuroscience Market Segmented based on Component, Technology, and End-User.

By Component, instrument segment is expected to dominate the market during the forecast period

• According to the component, the market has been categorized into instruments, consumables, and Software & Services. It is also seen that the instrument segment has held the largest share in the year 2022. This could be explained by the development of new instrument devices for the diagnosis and treatment of neurological diseases. In May 2023, Koninklijke Philips N. V. released a CT system equipped with AI called Philips CT 3500 for general radiology and large volume screening. With this device, images needed by radiologists for accurate diagnosis can be provided for imaging.
• The consumables segment is also expected to grow significantly over the forecast period in the global market. Currently, there are important and highly specialized suppliers as B. Braun SE and GE HealthCare that provide neurological instruments’ consumables with high strength, toughness, and ease of handling. Other consumables include ScalpFix-Clips, Flat-Table Tops, Patient Monitor, Injectors, Head Holder Inserts, Cradle Pads, etc. The creation and launch of consumables also lead to segment growths.

By Technology, brain imaging segment held the largest share in 2023

• Technology has enabled the neuroscience industry to be divided into; Brain imaging, Neuro-microscopy, Stereotaxic surgeries, Neuro-proteomic analysis, Neuro-cellular manipulation, and Other. In 2022, the segment under which the companies reported the highest share was the brain imaging segment. This can be attributed to growing utilization of various brain imagery gadgets like MRI, EEG, CT Scans that are being used in various hospitals, diagnostic centers and ambulatory surgical centers (ASCS) as a diagnostic tool for neurological disorders. Based on the NHS England and NHS Improvement Report 2022, it is revealed that in March 2022, 67,215 individuals were referred for brain MRI scans by doctors in Britain for the identification of cancer.
• Thus, with this flow of switching to brain imaging, demand for imaging devices will be high in the following years. The neuro-microscopy segment is also likely to experience considerable growth during the forecast period attributed to benefits arising from the novel neuro-microscopy inventions. She said this in May 2023 where she was able to biologically engineer electronic microscopic miniature machines that can penetrate through the cortex, identify neurological disorders, and fix them. In addition, there are also other factors such as the leading players like Danaher Corporation and Carl Zeiss AG along with their extensive neuro-microscopy product portfolio anticipated to foster the segment growth during the anticipated period.

Neuroscience Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America had the largest market share equivalent to 31.4% in 2022. This can be attributed to the significant numbers and dominance of companies that are involved in the research, production, and marketing of the devices used in the diagnosis and management of neurological patients in the region. For instance, in February 2022, as a part of CERENOVUS, there was the release of a new product called EMBOGUARD, which is an advanced balloon guide catheter for endovascular use, particularly in patients with acute ischemic stroke.
• These are the significant reasons that have led to higher growth of the studied market – the increasing funding for various research related to neurodegenerative diseases; increasing incidence and awareness of diseases; and existence of major market participants. For example, as highlighted by the Parkinson’s Foundation organization, it is estimated that by the end of the year 2020 in the United States, around one million people will be living with Parkinson’s Disease and about 59000 new cases of Parkinson’s Disease are diagnosed in the United States each year. Hearing aid funding continues to rise as another factor, that has a significant role to play in the market’s growth.

Active Key Players in the Neuroscience Market

• Carl Zeiss AG
• Danaher Corporation
• GE Healthcare
• Siemens Healthcare Private Limited
• Koninklijke Philips N.V.
• Canon Inc
• B. Braun SE
• Medtronic
• Stryker 
• Boston Scientific Corporation
• ABBOTT
• Terumo Corporation
• Carl Zeiss AG
• Danaher Corporation
• GE Healthcare
• Siemens Healthcare Private Limited
• Koninklijke Philips N.V.
• Canon Inc.
• B. Braun SE
• Medtronic
• Stryker
• Boston Scientific Corporation
• ABBOTT
• Terumo Corporation and Other Active Players

Key Industry Developments:

• In June 2024, The Paris Brain Institute and the Institut Pasteur partnered with The Neuro to fund two groundbreaking studies, each receiving over $440,000. These projects, part of an international collaboration to tackle future challenges in neuroscience, focused on examining how hormones affect brain cancer and the role of neural circuits in social skills. Established in 2016, the Big Brain Theory (BBT) Program by the Paris Brain Institute had previously supported 33 innovative, interdisciplinary, high-risk research projects. By 2024, the Institute had expanded BBT’s fourth edition to include international partners such as The Neuro, Institut Pasteur, and Mission Lucidity.

• In December 2023, AbbVie acquired Cerevel Therapeutics in a transformative deal to bolster its neuroscience pipeline. The acquisition, valued at $45.00 per share for a total of approximately $8.7 billion, was finalized to integrate Cerevel's robust portfolio of clinical-stage and preclinical assets targeting psychiatric and neurological disorders. The purchase added promising candidates, including Emraclidine, which was expected to potentially transform schizophrenia and other psychiatric conditions.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Neuroscience Market by Instruments
 4.1 Neuroscience Market Snapshot and Growth Engine
 4.2 Neuroscience Market Overview
 4.3 Consumables
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Consumables: Geographic Segmentation Analysis
 4.4 Software & Services
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Software & Services: Geographic Segmentation Analysis

Chapter 5: Neuroscience Market by Technology
 5.1 Neuroscience Market Snapshot and Growth Engine
 5.2 Neuroscience Market Overview
 5.3 Brain Imaging
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Brain Imaging: Geographic Segmentation Analysis
 5.4 Neuro-Microscopy
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Neuro-Microscopy: Geographic Segmentation Analysis
 5.5 Stereotaxic Surgeries
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Stereotaxic Surgeries: Geographic Segmentation Analysis
 5.6 Neuro-Proteomic Analysis
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Neuro-Proteomic Analysis: Geographic Segmentation Analysis
 5.7 Neuro-Cellular Manipulation
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Neuro-Cellular Manipulation: Geographic Segmentation Analysis
 5.8 Others
  5.8.1 Introduction and Market Overview
  5.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.8.3 Key Market Trends, Growth Factors and Opportunities
  5.8.4 Others: Geographic Segmentation Analysis

Chapter 6: Neuroscience Market by End-User
 6.1 Neuroscience Market Snapshot and Growth Engine
 6.2 Neuroscience Market Overview
 6.3 Hospitals
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Hospitals: Geographic Segmentation Analysis
 6.4 Diagnostic Laboratories
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Diagnostic Laboratories: Geographic Segmentation Analysis
 6.5 Research
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Research: Geographic Segmentation Analysis
 6.6 Academic Institute
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Academic Institute : Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Neuroscience Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 CARL ZEISS AG
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 DANAHER CORPORATION
 7.4 GE HEALTHCARE
 7.5 SIEMENS HEALTHCARE PRIVATE LIMITED
 7.6 KONINKLIJKE PHILIPS N.V.
 7.7 CANON INC
 7.8 B. BRAUN SE
 7.9 MEDTRONIC
 7.10 STRYKER
 7.11 BOSTON SCIENTIFIC CORPORATION
 7.12 ABBOTT
 7.13 TERUMO CORPORATION
 7.14 CARL ZEISS AG
 7.15 DANAHER CORPORATION
 7.16 GE HEALTHCARE
 7.17 SIEMENS HEALTHCARE PRIVATE LIMITED
 7.18 KONINKLIJKE PHILIPS N.V.
 7.19 CANON INC.
 7.20 B. BRAUN SE
 7.21 MEDTRONIC
 7.22 STRYKER
 7.23 BOSTON SCIENTIFIC CORPORATION
 7.24 ABBOTT
 7.25 TERUMO CORPORATION
 7.26 OTHER ACTIVE PLAYERS

Chapter 8: Global Neuroscience Market By Region
 8.1 Overview
 8.2. North America Neuroscience Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Instruments
   8.2.4.1 Consumables
   8.2.4.2 Software & Services
  8.2.5 Historic and Forecasted Market Size By Technology
   8.2.5.1 Brain Imaging
   8.2.5.2 Neuro-Microscopy
   8.2.5.3 Stereotaxic Surgeries
   8.2.5.4 Neuro-Proteomic Analysis
   8.2.5.5 Neuro-Cellular Manipulation
   8.2.5.6 Others
  8.2.6 Historic and Forecasted Market Size By End-User
   8.2.6.1 Hospitals
   8.2.6.2 Diagnostic Laboratories
   8.2.6.3 Research
   8.2.6.4 Academic Institute
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Neuroscience Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Instruments
   8.3.4.1 Consumables
   8.3.4.2 Software & Services
  8.3.5 Historic and Forecasted Market Size By Technology
   8.3.5.1 Brain Imaging
   8.3.5.2 Neuro-Microscopy
   8.3.5.3 Stereotaxic Surgeries
   8.3.5.4 Neuro-Proteomic Analysis
   8.3.5.5 Neuro-Cellular Manipulation
   8.3.5.6 Others
  8.3.6 Historic and Forecasted Market Size By End-User
   8.3.6.1 Hospitals
   8.3.6.2 Diagnostic Laboratories
   8.3.6.3 Research
   8.3.6.4 Academic Institute
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Neuroscience Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Instruments
   8.4.4.1 Consumables
   8.4.4.2 Software & Services
  8.4.5 Historic and Forecasted Market Size By Technology
   8.4.5.1 Brain Imaging
   8.4.5.2 Neuro-Microscopy
   8.4.5.3 Stereotaxic Surgeries
   8.4.5.4 Neuro-Proteomic Analysis
   8.4.5.5 Neuro-Cellular Manipulation
   8.4.5.6 Others
  8.4.6 Historic and Forecasted Market Size By End-User
   8.4.6.1 Hospitals
   8.4.6.2 Diagnostic Laboratories
   8.4.6.3 Research
   8.4.6.4 Academic Institute
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Neuroscience Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Instruments
   8.5.4.1 Consumables
   8.5.4.2 Software & Services
  8.5.5 Historic and Forecasted Market Size By Technology
   8.5.5.1 Brain Imaging
   8.5.5.2 Neuro-Microscopy
   8.5.5.3 Stereotaxic Surgeries
   8.5.5.4 Neuro-Proteomic Analysis
   8.5.5.5 Neuro-Cellular Manipulation
   8.5.5.6 Others
  8.5.6 Historic and Forecasted Market Size By End-User
   8.5.6.1 Hospitals
   8.5.6.2 Diagnostic Laboratories
   8.5.6.3 Research
   8.5.6.4 Academic Institute
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Neuroscience Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Instruments
   8.6.4.1 Consumables
   8.6.4.2 Software & Services
  8.6.5 Historic and Forecasted Market Size By Technology
   8.6.5.1 Brain Imaging
   8.6.5.2 Neuro-Microscopy
   8.6.5.3 Stereotaxic Surgeries
   8.6.5.4 Neuro-Proteomic Analysis
   8.6.5.5 Neuro-Cellular Manipulation
   8.6.5.6 Others
  8.6.6 Historic and Forecasted Market Size By End-User
   8.6.6.1 Hospitals
   8.6.6.2 Diagnostic Laboratories
   8.6.6.3 Research
   8.6.6.4 Academic Institute
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Neuroscience Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Instruments
   8.7.4.1 Consumables
   8.7.4.2 Software & Services
  8.7.5 Historic and Forecasted Market Size By Technology
   8.7.5.1 Brain Imaging
   8.7.5.2 Neuro-Microscopy
   8.7.5.3 Stereotaxic Surgeries
   8.7.5.4 Neuro-Proteomic Analysis
   8.7.5.5 Neuro-Cellular Manipulation
   8.7.5.6 Others
  8.7.6 Historic and Forecasted Market Size By End-User
   8.7.6.1 Hospitals
   8.7.6.2 Diagnostic Laboratories
   8.7.6.3 Research
   8.7.6.4 Academic Institute
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research