Neuroscience Market to Grow at Stellar CAGR 7.2% During the Forecast Period 2025 – Science In Me
With healthy CAGR of 6.4%, the global neuroscience market is likely to grow from US$ 301.6 Mn in 2016 to US$ 520.8 Mn by 2025 end.
This growth is mainly fuelled by advancement in neuroimaging and increasing R & D in neuroinformatics. “Neuroscience Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025),” is the new publication of Persistence Market Research that focuses on merger and acquisition, strategic collaborations and technology, and technology transfer agreements.
which play a vital role in the global neuroscience market. North America and Europe are expected to dominate the global neuroscience market in the assessed period of 8-years that is between 2017 and 2025.
Global Neuroscience Market: Relevance and Impact of Factors
- Increasing consumer awareness regarding neuroscience and easy accessibility of the technology
- Growing acceptance of e-health and integrated medical system
- Increasing strategic collaborations among key players
- Rise in incidence rate of lifestyle diseases and geriatric population worldwide
- Reforming healthcare IT spending structure and advancement in digital technology
- Shift towards value-based healthcare model
Global Neuroscience Market: Forecast by Component Type
On the basis of component type, the global neuroscience market is segmented into instrument, software and services. Instrument segmented is sub-segmented into MRI imaging systems and neuromicroscopy, while services segmented divided into consulting services, installation services and maintenance services.
Instrument segment dominated the global neuroscience market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. Instrument segment is the most attractive segment, with attractiveness index of 2.6 over the forecast period.
Instrument segment was valued at US$ 221.6 Mn in 2016 and is projected to be valued at US$ 408.1 Mn in 2025 growing at a CAGR of 7.2% during the forecast period. This segment is expected to accounts for high revenue contribution to the global neuroscience market as compared to software and services segments over the forecast period.
Software segment is expected to be the second most lucrative segment in the global neuroscience market, with attractiveness index of 0.3 during the forecast period. This segment was accounted for 15.4% value share in 2017 which is expected to drop down to 12.9 % revenue share in 2025.
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Global Neuroscience Market: Forecast by End User
On the basis of end user, global neuroscience market is segmented into hospitals, diagnostic laboratories, research institutes, and academic institutes. Diagnostics laboratory segment is expected to be the second most lucrative segment in the global neuroscience market by 2025 end. However, in terms of CAGR and revenue share, hospitals segment is expected to lead he market throughout the estimated period. In 2025, hospital segment is likely to grab 40.2% market share in 2025, expanding at a robust CAGR of 7.3% during the estimated period.
Research institutes segment is expected to be the least attractive segment in the global neuroscience market, with attractiveness index of 0.7 during the forecast period.
Global Neuroscience Market: Forecast by Region
On the basis of region, global neuroscience market is segmented into North America, Latin America, Europe, APAC and MEA. North America dominated the global neuroscience market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period.
North America is projected to be the most attractive market with attractiveness index of 2.3 during the forecast period. Europe is expected to be the second most lucrative market, with attractiveness index of 1.1 respectively during the forecast period. Europe Neuroscience market accounted for 23.9% share in 2017 and is projected to account for 23.1% share by 2025 end.
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Global Neuroscience Market: Key Players
- Carl ZEISS AG
- Danaher Corporation (Leica Microsystems)
- GE Company
- Siemens AG
- Koninklijke Philips N.V.
- Toshiba Corporation
- Hitachi Medical Corp.
- Esaote SpA
- HAAG-STREIT Group
- Opto fine Instruments Pvt. Ltd.
- Synaptive Medical
- Operating Microscopes
- Pridex Medicare Pvt. Ltd.
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