Fairfield Market Research Neuroscience Market Size, Share, Report, Analysis, Trends, 2029

Neuroscience Market

Global Industry Analysis (2018 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

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Industry: Medical Devices

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Significance of Neuroscience Buoyant With High Prevalence of Brain and Nervous System Conditions

Neuroscience continues to be one of the most sought-after areas of research. With the rising prevalence of neurological disorders worldwide, the need for superior patient outcomes is also mounting, thereby pushing the expanse of the global neuroscience market. Neuroscience research is advancing at a rapid pace, making exciting progress on a wide variety of issues that range from the slowing of degenerative diseases such as amyotrophic lateral sclerosis (ALS), Huntington’s disease, and Parkinson’s, to discoveries on how the brain develops in early childhood.

There are more than 1,000 (heterogeneous group of) disorders of the brain, and nervous system, including -

  • Intellectual and developmental disabilities such as Down syndrome, and Fragile X syndrome
  • Behavioural disorders such as attention deficit/hyperactivity disorder, and autism spectrum disorders
  • Learning disabilities and reading disorders - dyslexia
  • Mental health problems such as schizophrenia, obsessive-compulsive disorder, and addiction
  • Degenerative diseases such as Alzheimer’s, Parkinson’s, and Niemann-Pick disease
  • Musculoskeletal disorders such as muscular dystrophy, and stroke
  • Structural defects, such as neural tube defects, which include spina bifida, hydrocephaly, and myelomeningocele
  • Injuries, including traumatic brain injury, and spinal cord injury
  • Cancers, including brain tumours such as paragangliomas
  • Epilepsy, seizures, and stroke

Critical Need for Effective Therapeutics Fuels Neuroscience Market Growth

The brain is the pivotal hub of our central nervous system. A complex, sophisticated system, its nervous tendrils permeate every inch of our bodies, ultimately regulating, and coordinating the body's basic functions, and activities. Due to its vast structural, and functional intricacy, neuroscientists have the daunting task of trying to understand how all these billions of neurons in the brain, and nervous system work. The aetiology of these diseases is still not completely understood, and a majority of medication only treats the symptoms. There is an urgent need to develop novel therapies for better outcomes. Biological assays, including aggregation, cytotoxicity, and signalling assays are vital in aiding researchers to better comprehend the underlying mechanisms of these conditions in addition to discovering promising treatments in the primary stages of drug development.

Technology Is Facelifting Modern Neuroscience to Enable Better Understanding of Brain

Neuroscience is panacea for curing diseases. Although there has been incredible progress, there is still much left to discover, giving the global neuroscience market a vast potential.

New techniques such as special electrodes that can touch the surface of cells, electroceuticals to regulate nerve signals, neuro-regeneration, genomic sequencing, and genome editing, optical imaging – (diffuse optical imaging (DOI), functional ultrasound brain imaging, from Iconeus, is the next frontier in pre-clinical neuroscience), human brain scanning machines, and silicon chips containing artificial brain circuits, transcranial magnetic stimulation (TMS), liposomal-based strategies, light therapy consisting of controlled exposure to natural daylight or artificial light of specific wavelengths, and WuXi AppTec are all changing the face of the global neuroscience market. With life expectancies climbing worldwide, treating health at the level of the brain will become increasingly important to global human wellbeing.

Neuroscience Market Mental Health Problems Exert an Enormous Social and Economic Burden Demanding

According to the Global Burden of Disease study, neuropsychiatric disorders attribute for over 10% of the global burden of disease. As per The UN General Assembly Report of December, 2017, neurological disorders are the leading cause of disability, and the second leading cause of death worldwide. The World Health Organization (WHO) assesses that 10.8 million people die every year due to neurological disorders.

Global Neuroscience Market Set for Notable Growth as Research Efforts Firm up and Investments Flood in

There has been a rapid rise in total neuroscience research, with China becoming a major player pressuring the US into an arms race of the brain. Investment initiatives around the globe such as Obama’s Brain Initiative, as well as scores of research pledges on the horizon that outpace any other scientific domain are also heavily contributing towards the growth of the neuroscience market.

  1. The International Brain Initiative (IBI) - Europe, Japan, Korea, Australia, and the United States coalition - to coordinate efforts across existing and emerging national and regional brain initiatives, develop, and recognize ethical considerations that may arise from advances in neuroscience, neurotechnology, and Artificial Intelligence (AI)
  2. The Global Engagement Initiative led by the International Brain Research Organization (IBRO)
  3. International Brain Research Foundation Inc. (IBRF), Society for Neuroscience (SfN), Federation of European Neuroscience Societies (FENS), International Society for Neurochemistry (ISN) - platforms for advocacy, support and collaboration, outreach and awareness activities for a broader and more inclusive reach
  4. BrainFacts.org - a public information initiative

Global Neuroscience Market: Key Players

Biogen, Pfizer, Novartis, Allergan, J&J, Teva, Syanofi, Shire, UCB, and Otsuka are the top 10 companies with high neurology product sales in the global neuroscience market. AbbVie, Amgen, AstraZeneca, Athira Pharma, Balance Therapeutics, BioArctic, biOasis, Bristol-Myers Squibb, Cerevel Therapeutics, Focus@Will, Genesis Therapeutics, Intra-Cellular THERAPIES, Ipsen, Koniku, Libra Therapeutics, Merck & Co., Inc. (aka MSD), Minerva Neurosciences, Neurocrine, Regeneron Pharmaceuticals, Roche, SciNeuro Pharmaceuticals, Titan Pharmaceuticals, Tranquis Therapeutics, and Vigil Neuroscience are the prominent pharmacological and biological treatment companies.

Besides, Kernel, Dreem, Thync, Halo Neuroscience, Synchron, BrainCo, Inc., Neurable, Neuralink, Flow Neuroscience, Cognixion, Bitbrain Technologies, Paradromics, MELTIN MMI, Neuros Medical, NextMind, Emotiv, Q30 Innovations, BIOS, NeuroScouting, NeuroPace, and MindMaze constitute the key companies that predominantly focus on brain-machine interfaces, neuroprosthetics, neurostimulation, neuromonitoring, and implantable devices.

Global Neuroscience Market is Segmented as Follows:

By Component Type

  • Instruments
    • Neuromicroscopy
    • MRI Imaging Systems
  • Software
  • Services
    • Consulting Services
    • Installation Services
    • Maintenance Services

By End User

  • Diagnostics Laboratories
  • Research Institutes
  • Academic Institutes
  • Hospitals

By Geography

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

Key Elements Included In The Study: Global Neuroscience Market

  • Neuroscience Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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