Neurological Disorder Diagnostics Market Analysis | CMI

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NEUROLOGICAL DISORDER DIAGNOSTICS MARKET
ANALYSIS

• Neurological Disorder Diagnostics Market, by
  Technology (Imaging, and In Vitro Diagnostics),
  by Disease Indication (Genetic Neurological
  Disorders, Immunological Neurological Disorders,
  Paraneoplastic Syndrome, Paraproteinemic
  Neuropathies, and Others), by End User (Hospitals
  Clinics, Diagnostic Centers, and Ambulatory
  Care Centers), and by Region (North America,
  Latin America, Europe, Asia Pacific, Middle East,
  and Africa) - Size, Share, Outlook, and
  Opportunity Analysis, 2019 - 2027
• The global neurological disorder diagnostics
  market size is expected to be valued at US
  12,162.6 million in 2019 and is expected to
  exhibit a CAGR of 7.6 over the forecast period
  (20192027).

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Figure 1. Global Neurological Disorder
Diagnostics Market Value (US Mn), by Region, 2019
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Market Drivers

• Increasing number of approvals and launches of
  novel diagnostic tools
• In the recent past, several key players in the
  market have received approval for launching novel
  diagnostic tools. Moreover, approval and launch
  of such novel tools in the market is expected to
  create lucrative environment for the global
  Neurological Disorder Diagnostics Market growth
  over the forecast period. For instance, in April
  2018, Canon Medical Systems received 510 (k)
  clearance from the U.S. Food and Drug
  Administration for its new Aquilion Precision
  (CT) scanner. Aquilion Precision is an ultra-high
  resolution CT system (UHR CT).
• Moreover, in March 2018, Koninklijke Philips N.V.
  launched its new 3-tesla MRI scanner, Elition
  3.0T. This new MRI scanner reduces scanning time
  by 50, which is expected to enhance patient
  experience. Furthermore, in January 2019, Canon
  Medical Systems Corporation launched Aquilion
  Start CT system with 16 and 32 slice
  configurations suitable for institutions aspiring
  to make diagnostic CT imaging more accessible and
  affordable.

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• Increasing strategic collaborations for
  development of new diagnostic tools is expected
  to propel the market growth
• Strategic collaborations among key players are
  expected to fuel growth of the global
  neurological disorder diagnosis market over the
  forecast period. For instance, in March 2018,
  Canon Medical Systems, Kumamoto University, and
  University of Bordeaux entered into a
  collaborative research for the development of
  deep learning technology in magnetic resonance
  imaging.
• Moreover, in 2017, Singapore-based National
  Neuroscience Institute and Nanyang Technological
  University (NTU Singapore) collaborated to
  develop novel and innovative technologies for
  better diagnosis and treatment of patients with
  neurological conditions such as Parkinsons
  disease, and brain injuries.
• Furthermore, in January 2017, Siemens
  Healthineers and Biogen signed an agreement to
  develop new MRI tools for multiple sclerosis.

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Market Restraints

• However, high cost of diagnostic tools such as
  MRI machines and CT scan is a major factor, which
  is expected to hinder growth of global
  neurological disorder diagnostics market in
  emerging economies such as India, and China.
  According to American Health Imaging, price of a
  magnetic resonance imaging (MRI) devices starts
  from US 150,000, and a high end device costs
  more than US 1 million. Such high cost devices
  are only adopted by big hospitals and diagnostic
  laboratories.

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Figure 2. Global Neurological Disorder
Diagnostics Market Share (), by Disease
Indication
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Key Players

• Major players operating in the global
  neurological disorder diagnostics market include
  Siemens Healthineers, Koninklijke Philips N.V.,
  General Electric Company, Esaote SpA, NeuroLogica
  Corporation, Masimo Corporation, York Instruments
  Ltd., Neusoft Medical Systems, and Canon Medical
  Systems Corporation

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