Neurodiagnostics Market - R&D initiatives will generate new avenues for growth

Industry : Healthcare    

Diagnostic tests are vital tools that facilitate the diagnosis of neurological disorders. The neurodiagnostics market is categorized into neuroimaging technologies, in vitro diagnostics, and neuroinformatics. Neuroimaging technologies include various imaging techniques such as computed tomography, magnetic resonance imaging, electro-encephalography, and magneto-encephalography, etc. In vitro diagnostics include the use of several neurological biomarkers that aid in early diagnosis of disorders of the nervous system. Neuroinformatics, an integration of neuroscience with information technology, deals with the management of vast data generated by neuroscience studies. It enables the storage and analysis of clinical study data to gain insights at the molecular level. The combined effects of the rising geriatric population, increasing incidence rate of neurological diseases, and the current healthcare expenditure burden on the society and government are governing the neurodiagnostics market growth.

"Neuroimaging techniques are used to identify developmental malformations in its early stages in the brain"

The neuroimaging technologies also known as brain scans are being used to detect and diagnose psychotic disorders and illnesses. Imaging techniques highlight the damaged areas of brain tissues and facilitate the understanding of causative factors linked with disease occurrence. Over the years, consistent improvements in imaging equipment due to technological sophistication have resulted in non-invasive and efficient diagnostic procedures. Computed tomography, magnetic resonance imaging, and electroencephalography are some of the widely used neuroimaging techniques. On the other hand, near infrared spectroscopic imaging and voxel-based morphometry constitute the emerging segments of neuroimaging. During the forecast period, neuroimaging technologies will lead the market in terms of revenue as compared to the in vitro diagnostics and neuroinformatics segments.

"Strong research base will create numerous opportunities for neurological biomarkers in the future"

The conventional diagnostic treatments do not enable early and accurate diagnosis, thus leading to a high demand for technologically advanced diagnostic platforms. With increasing life expectancy, geriatric population is steadily increasing across the globe. Therefore, aging-related neurological diseases such as stroke, Alzheimer’s disease, Parkinson’s disease, and dementia are likewise increasing in their incidence and prevalence rates. As biomarkers serve as an effective approach to gain an understanding of the development of neurological diseases, they can be employed to measure and evaluate therapeutic conditions. Various studies across the globe are being undertaken for the development of biomarkers specific to the diagnosis of neurological diseases. At present none of the biomarkers has been commercialized; however, they are widely used by the research and clinical laboratories for research purposes. Owing to their future potential, companies are increasingly investing in research and development of neurological biomarkers.

"Neuroinformatics segment is emerging due to the growing need for data integration"

Neuroscience generates vast amount of data that requires proper management to draw out useful insights from it. Neuroinformatics is basically the combination of neuroscience study, research data, and information technology that mainly deals with data analysis. The data is stored and analyzed in the datasets to relate study findings to molecular disease information.

Some of the prominent players in the global neurodiagnostics market include Agilent Technologies, Bruker, GE Healthcare, Roche Diagnostics, Siemens Healthcare, etc.

  In-depth report on global neurodiagnostics market by Grand View Research:

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