Brain And Neuroimaging Devices Global Market Report 2023

NEW YORK, Feb. 8, 2023 /PRNewswire/ -- Major players in the brain and neuroimaging devices market are GE, Siemens, Philips, Canon, Hitachi Medical Systems, Medtronic Plc, EB Neuro S.p.A., Neurosoft, MinFound Medical Systems Co Ltd, and Elekta.

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The global brain and neuroimaging devices market will grow from $35.49 billion in 2022 to $37.53 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The brain and neuroimaging devices market is expected to grow from $47.15 billion in 2027 at a CAGR of 5.9%.

The brain and neuroimaging devices market consists of sales of imaging equipment for brain and nerves such as functional magnetic resonance imaging, computed tomography, positron emission tomography (pet), electroencephalography, magnetoencephalography, and others.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Brain and neuroimaging devices are medical devices used to capture the structure, function, or pharmacology of the brain and locate areas affected by neurological disorders.

Western Europe was the largest region in the brain and neuroimaging devices market in 2022.North America was the second largest region in the brain and neuroimaging devices market.

Africa. was the smallest region in the brain and neuroimaging devices market. The regions covered in the brain and neuroimaging devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main imaging types of brain and neuroimaging devices are functional magnetic resonance imaging (fMRI), computed tomography (CT), positron emission tomography (PET), electroencephalography (EEG), magnetoencephalography (MEG), and others.Positron emission tomography (PET) is a type of imaging technique that measures the metabolic activity of the cells of body tissues using radioactive substances.

The various applications of brain and neuroimaging devices are Parkinson's disease, traumatic brain injury, epilepsy, dementia, sleep disorders, and other applications that are used in hospitals, diagnostic centers, and ambulatory surgical centers.

An increase in the incidence of neurological disorders is expected to drive the market.According to a report by the European Academy of Neurology, 1 in 3 people in 2022 are affected by a neurological disease and the number of deaths due to neurological disorders increased by almost 40% in the last 30 years.

Brain and neuroimaging devices are used to diagnose neurological disorders increasing the survival rate and management of the disease. This increasing incidence rate is expected to drive the brain and neuroimaging devices market.

The high cost of imaging devices is anticipated to hamper the market for brain and neuroimaging devices.Neurological and cognitive psychology research and design brain-computer interfaces require high-end machines such as Electroencephalography (EEG), Positron Emission Tomography (PET), Functional Magnetic Resonance Imaging (fMRI) among others.

These are high-cost devices, for instance, the new 64-slice CT scanners range between $500,000 and $700,000, cost of a PETCT scanner ranges from $225,000 to $750,000, which is not affordable for all hospitals and labs, mainly in developing countries. Thus, the high cost of imaging devices hampers the buying capacity of hospitals and diagnostic labs, hampering the brain and neuroimaging devices market.

Companies and researchers are focusing on developing portable brain scanners that are expected to revolutionize brain imaging by lowering the cost of devices, making them affordable and accessible to all.EMVision Medical Devices and researchers at Queensland University have developed a portable brain scanner technology that enables brain scanning to be performed at almost any location.

Researchers at University College London have developed a portable MEG brain scanner that is lightweight, worn like just a helmet but can measure brain activity even as people make natural movements, providing improved imaging opportunities for patients with disorders that cause unprompted body movements, such as epilepsy.

The countries covered in the brain and neuroimaging devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The brain and neuroimaging devices market research report is one of a series of new reports that provides brain and neuroimaging devices market statistics, including brain and neuroimaging devices industry global market size, regional shares, competitors with a brain and neuroimaging devices market share, detailed brain and neuroimaging devices market segments, market trends and opportunities, and any further data you may need to thrive in the brain and neuroimaging devices industry. This brain and neuroimaging devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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