The global Neuroscience market size is expected to be worth around US$ 34.09 billion by 2030, according to a new report by Vision Research Reports.
The global Neuroscience market size was valued at US$ 38.42 billion in 2020 and is anticipated to grow at a CAGR of 12.9% during forecast period 2021 to 2030.
Rising investment in R&D resulting in the development of numerous products in the neuroinformatics coupled with adequate funding from the government are key factors that drive growth in this market.
Neuro-informatics involve designing and developing efficient tools and algorithms that can augment the performance of structural and functional mapping. Global Neuroscience market is expected to grow at CAGR of 2.9% over the next seven years.
Increasing occurrence of malicious disorders including Parkinsonism and Alzheimer’s disease together with other inherited CNS disorders has resulted in increased necessity for new improvements in neuroscience industry. The market is expected to experience growth over the forecast period on account of growing demand in laboratories and academic centers. The market players aim at introducing unique technologies with the ability to obtain insights to understand better the compound nervous functionalities and neural manipulations. Furthermore, increasing aggregate geriatric population every year is anticipated to drive significantly the demand owing to a growing need for better treatment and medication.
The overall neuroscience market includes different technologies for brain imaging and neuromicroscopy along with the newly developed and emerging techniques for neuro biochemical assays. Whole brain imaging, neuro-microscopy, and electrophysiology technologies accounted for around 47% market share in 2020.
A substantial number of applications in neuroscience-based research wherein imaging techniques can be employed has attributed to the significant share of whole-brain imaging. These applications include identification of neural networks involved in cognitive processes, understanding disease pathways, and early disease diagnosis. It enables the study of disease progression at a molecular level, thereby leading to greater usage by researchers in order to develop novel medicines and treatment strategies for nervous disorders
While neuromicroscopy techniques employing light and electron microscope are used for a longer duration for research, two-photon microscopy in combination with optogenetics based simulation technology is expected to witness lucrative growth as a novel segment of the market.
The primary factor responsible for this shift in trend can be attributed to the increased accuracy of imaging provided coupled with the neuron simulation from optogenetics. Benefits associated with optogenetics include application in brain behavior analysis, opportunity for detailed neural network analysis, and treatment of Parkinsonism’s using gene therapy.
Furthermore, the presence of comparatively large number of products and services in behavior analysis using different animal models is expected to propel growth of this segment. Under the segment of stereotaxic surgeries, neural activity implants are expected to account for significant growth owing to its application in chronic brain dysfunction analysis using static markers.
Neuroscience research components are expected to witness lucrative growth over the forecast period owing to rising investments by research institutes in this sector. Instrumentation segment accounted for a significant share of revenue compared to data analysis and consumables in 2016. Nonetheless, high costs and provision of advanced technologies in this segment compared to other segments of the neuroscience components market have resulted in the large market share of this segment.
Instruments used in neuroscience encompass different instruments such as optogenetics instruments, electrophysiology instruments, microscopy instruments, and MRI instruments. Owing to the substantial usage of these in diagnosis of several neuroscience disorders has led to the increased market penetration as well as share in 2020.
Data analysis & services are expected to be the source of lucrative revenue generation during the forecast period. This can be owed to the ongoing developments in bio-computers and robot-assisted instruments used for data analysis coupled with an expected rise in number of research firms that can provide pre-clinical data analysis services.
Moreover, owing to the introduction of library of tools that work on different statistical algorithms, it is expected that through to 2020, this segment will experience significant growth in demand throughout the forecast period. These tools are designed to aid in data interpretation from unprecedented quantities of information obtained from analysis.
Consumables encompass different accessories that are required for neuroscience-based experiments. Rising demand for consumables with increasing advent of experimentation in technology of neurosciences is expected to drive consumables segment over the forecast period and prove its lucrative nature.
North America captured the largest share in 2020 as a regional market. Key factors that are attributed to this large share are the presence of a substantial number of neuroscience-based research entities, funding by government & other organizations, and availability of well-developed healthcare systems along with rising prevalence of neurological disorders in the region.
This regional market is also driven by the presence of several organizations, universities, and institutes in the region that are engaged in undertaking various initiatives to accelerate R&D in neuroscience space in the U.S., as well as in Canada.
With China and Japan on the frontline, Asia Pacific is expected to emerge as the fastest growing regional market owing to the owing to constantly improving healthcare system and the presence of a significant target population in the region. Moreover, expansion of brain-related research focused facilities that are located
In August 2017, a new facility called “HUST-Suzhou Institute for Brainsmatics” was opened in Suzhou, China. It is a brain-imaging factory that holds 50 automated machines for brain mapping unlike other laboratories that hold one or two brain-imaging systems. Such expansions in the Asian countries are certainly expected to foster the growth of this regional market at a noteworthy pace throughout the forecast period.
Doric Lenses Inc; GE Healthcare; Siemens Healthineers, Laserglow Technologies; Mightex Systems; Prizmatix; Kendall Research Systems LLC; Noldus Information Technology; Med Associates Inc; Phoenix Technology Group; NeuroNexus; Multi-Channel Systems MCS GmbH; Alpha Omega; Plexon Inc.; Tucker-Davis Technologies; Blackrock Microsystems; Neuralynx; Thomas RECORDING GmbH; Intan Technologies, LLC; Axion Biosystems; Scientifica; Prairie Technologies (Bruker Corporation); LaVision BioTec GmbH; Femtonics Ltd; Sutter Instrument Company; Newport Corporation; Neurotar.; TRIFOIL IMAGING; and Mediso Ltd.
Neuroscience Technology Outlook
Whole Brain Imaging
Neural activity implants
Long-term access implants
Neuroscience Technology Component Outlook
Data analysis and services
Neuroscience Regional Outlook
The Neuroscience market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Neuroscience market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Neuroscience market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Neuroscience market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Neuroscience market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Neuroscience capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Neuroscience by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Neuroscience market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Neuroscience market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Neuroscience market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Neuroscience industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Neuroscience market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Neuroscience market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Neuroscience market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Neuroscience market. These factors have benefited the growth of the global market for Neuroscience. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Neuroscience. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Neuroscience are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.