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Global Neurotechnology Market Size, Share, Trends, Forecast: By Product Type: Imaging Modalities, Neurostimulation, Cranial Surface Measurement, Others; By End Use: Hospitals, Clinics, Diagnostic Centres, Ambulatory Surgical Centres; Regional Analysis; Market Dynamics: SWOT Analysis, Competitive Landscape; 2024-2032
Global Neurotechnology Market Outlook
The global neurotechnology market reached a value of about USD 15.03 billion in 2023. The industry is further expected to grow at a CAGR of 11.9% in the forecast period of 2024-2032 to reach a value of around USD 41.45 billion by 2032.
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North America Leading the Global Market for Neurotechnology
The global market for neurotechnology is dominated by North America, followed by Europe. The growth of the market in these regions can be attributed to the rising cases of neurological diseases. The rising patient population together with the growing geriatric population and increased support for research and development by government agencies are also propelling the development of the neurotechnology industry.
The market in the Asia Pacific is expected to expand further during the forecast period due to the modernisation of medical and research facilities. The governments in the region are also taking initiatives by providing grants and fellowships to researchers; thus, further bolstering the market development. Regions, such as Latin America and the Middle East and Africa, are also expected to see a steady growth during the forecast year due to a shortage of technical skills and a lack of research infrastructure.
Neurotechnology: Market Segmentation
Neurotechnology refers to a branch of science, which is based on the activity of the brain and includes technologies, which are developed to enhance and repair functionality of the brain. Neurotechnology is used in research and development to analyse the brain's activity. Modernising neurotechnology helps in possibly resolving depression, sleep loss, over-activation, and many other disorders. Therapeutic applications can help with conditions such as epilepsy and degenerative motor disorders such as Parkinson's disease, Huntington 's disease, and ALS. Technological innovation in the field of neurotechnology may include approaches to the development and rehabilitation of a patient suffering neurological problems.
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The product type can be divided as follows:
- Imaging Modalities
- Neurostimulation
- Cranial Surface Measurement
- Neurological Implants
Neurotechnology finds wide end-uses in the following sectors:
- Hospitals
- Clinics
- Diagnostic Centres
- Ambulatory Surgical Centres
The regional markets for neurotechnology can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Health Disorders Bolstering the Market Growth of Neurotechnology
Due to the rising number of various malignant CNS disorders, including Parkinsonism and Alzheimer's disease, the industry is expected to witness a significant growth. As the geriatric population is vulnerable to various central nervous systems associated with disorders including schizophrenia, Alzheimer’s, and Parkinsonism, with the growth in the older population, this market is expected to see lucrative growth opportunities in the coming years. Factors including ongoing brain mapping research and other research projects, government-led neuroscience initiatives, and technological advancements in tools and algorithms implemented in the neuroscience space are anticipated to drive the market growth.
Key Industry Players in the Global Neurotechnology Market
The report gives a detailed analysis of the following key players in the global neurotechnology market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- GENERAL ELECTRIC COMPANY
- Koninklijke Philips N.V.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Neurotechnology Market Analysis
8.1 Key Industry Highlights
8.2 Global Neurotechnology Historical Market (2018-2023)
8.3 Global Neurotechnology Market Forecast (2024-2032)
8.4 Global Neurotechnology Market by Product Type
8.4.1 Imaging Modalities
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Neurostimulation
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Cranial Surface Measurement
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Neurological Implants
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.5 Global Neurotechnology Market by End Use
8.5.1 Hospitals
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Clinics
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Diagnostic Centres
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Ambulatory Surgical Centres
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.6 Global Neurotechnology Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Company Profiles (*This list is only indicative. The report contains a more comprehensive list of players.)
12.3.1 GENERAL ELECTRIC COMPANY
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Demographic Reach and Achievements
12.3.1.4 Certifications
12.3.2 Koninklijke Philips N.V.
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Demographic Reach and Achievements
12.3.2.4 Certifications
12.3.3 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Neurotechnology Market: Key Industry Highlights, 2018 and 2032
2. Global Neurotechnology Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Neurotechnology Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Neurotechnology Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Neurotechnology Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Neurotechnology Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Neurotechnology Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Neurotechnology Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Neurotechnology Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Neurotechnology Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Neurotechnology Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Neurotechnology Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Neurotechnology Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Neurotechnology Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Neurotechnology Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Neurotechnology Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Neurotechnology Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Neurotechnology Market Structure
Key Questions Answered in the Report
In 2023, the global neurotechnology market attained a value of nearly USD 15.03 billion.
The market is projected to grow at a CAGR of 11.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 41.45 billion by 2032.
The growth of the market is being driven by the rising health disorders, growing geriatric population, growing research and development activities, and technological advancements.
The increasing number of various malignant CNS disorders, ongoing brain mapping research and other research initiatives, and the deployment of advanced technologies in neuroscience are the key trends propelling the market development.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading product types in the market are imaging modalities, neurostimulation, cranial surface measurement, and neurological implants.
The various end uses of neurotechnology are hospitals, clinics, diagnostic centres, and ambulatory surgical centres.
The major players in the market are GENERAL ELECTRIC COMPANY and Koninklijke Philips N.V., among others.
Analyst Review
The global neurotechnology market attained a value of USD 15.03 billion in 2023, driven by the rising geriatric population. Aided by the increasing R&D activities, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11.9%. The market is projected to reach USD 41.45 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the market is segmented into imaging modalities, neurostimulation, cranial surface measurement, and neurological implants. By end use, the industry is divided into hospitals, clinics, diagnostic centres, and ambulatory surgical centres. The major regional markets for neurotechnology are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include GENERAL ELECTRIC COMPANY and Koninklijke Philips N.V., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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