The neuroscience market deals with the products used in brain and nervous system research such as instruments, reagents, software and services. Neuroscience research helps in understanding diseases of the central nervous system like Alzheimer's, Parkinson's etc. and finding possible treatment options. Advancements in genomics, data science and brain imaging technologies are enabling researchers to better understand the neurological processes at molecular, cellular and systems levels. The global neuroscience market is estimated to be valued at US$ 32.75 billion in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising investment in neuroscience research from both private and public organizations is one of the key trends driving the growth of the neuroscience market. Governments as well as foundations across the world are increasingly funding neuroscience research to gain a better understanding of neurological disorders. For instance, the UK government announced an investment of £300 million over the next 5 years with an aim to advance brain health research. Similarly, in the US, the National Institute of Mental Health invested US$ 1.6 billion towards neuroscience research in 2021. Such rising investments are enabling researchers to acquire advanced instruments, reagents and software tools to accelerate their research activities, thereby fuelling the demand and growth of the neuroscience market during the forecast period.
Segment Analysis
The global neuroscience market is dominated by instrumentation sub segment. Next generation sequencing instrumentation dominated the market owing to their wide application in neuroscience research for various studies including transcriptomics, epigenomics and other omics studies. Consumables sub segment is expected to witness high growth due to increase in R&D activities in neurobiology and advancement of omics technologies requiring consumables in large volumes.
Key Takeaways
The Global Neuroscience Market Growth is expected to witness high over the forecast period.
Regional analysis: North America currently holds the major share in the global neuroscience market led by U.S. The presence of advanced research infrastructure, supportive government funding and initiatives taken by private organizations towards neurological research drives the market growth in the region. Asia Pacific region is expected to witness highest growth rate during the forecast period. This is attributed to rising healthcare expenditure, increasing investments by market players and favorable government policies in countries like China and India promoting research activities.
Key players operating in the neuroscience market are Agilent Technologies Inc., F. Hoffmann-La Roche Ltd, Nucleome Informatics Private Limited, Azenta Life Sciences, Bio-Rad Laboratories Inc., Danaher Corporation, Douglas Scientific LLC, AllGenetics & Biology SL, Illumina Inc., Life Technologies Corp., Consultative Group on International Agricultural Research, Avance Biosciences, Genotypic Technology Pvt Ltd, Xelect Ltd, Taconic Biosciences, Inc., Luminex Corp., Promega Corporation, CD Genomics, Synbio Technologies, Thermo Fischer Scientific Inc., Sequenom, PREMIER Biosoft, Fluidigm Corporation, Novacyt, Twist Bioscience, Regeneron Pharmaceuticals, Inc, NRGene, and LGC Biosearch Technologies, among other prominent players
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the neuroscience market include 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.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on ""Global Neuroscience Market Research Report"" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/neuroscience-market/download-sampleMarket DynamicsThe global neuroscience market is projected to emerge as a promising market.
Different approaches are used to study the nervous system at different scales, from molecular and cellular studies of neurons to imaging of sensory, motor, and cognitive tasks in the brain.
Escalating mental disorders prevalence, significant initiatives are undertaken by the healthcare communities, and expanding elderly population who are more prone to various central nervous systems are expected to fuel the global neuroscience market.
However, low importance given to the mental disorder patient and ethical regulations about using animals in clinical studies is expected to hinder the market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
