Brain Imaging Modalities Market

Brain Imaging Modalities Market Size

[ 170 + Pages Research Report ]  to surpass USD 21.2 billion by 2031 from USD 12.8 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2021-2031

Over the last two decades, the area of cognitive neuroscience has grown and expanded at a remarkable pace. This new field integrates two previously independent sciences, cognitive psychology and neurology, to study the brain basis of human cognition. Throughout the world, neurological diseases and mental disorders have arisen as severe public health concerns and significant challenges to healthcare systems. Some of the causes of neurological difficulties include genetic abnormalities, infections, lifestyle, congenital anomalies or disorders, or environmental health problems, such as brain injury, spinal cord injury, malnutrition, or nerve injury.

Market Highlights

Global Brain Imaging Modalities Market is expected to project a notable CAGR of 5.2% in 2031.

Increased incidence and prevalence of neurological disorders, increased awareness of neurodegenerative diseases, increased number of traumatic brain injuries and increased use of brain monitoring in clinical trials are all contributing to the market's rise. The growing demand for non-invasive and minimally invasive devices, as well as the developing therapeutic applications of brain monitoring devices and the expanding healthcare sector in emerging nations, are expected to showcase potential prospects for industry vendors.

Brain Imaging Modalities Market: Segments

The Devices segment is expected to grow with the highest CAGR during 2021-31

Based on Product, the global Brain Imaging Modalities Market is fragmented into Devices, Accessories, and Usability. The global market for brain monitoring is divided into two categories: devices and accessories. In 2020, the devices category accounted for the greatest proportion of the brain monitoring market. The expanding incidence of neurological, neurodegenerative, psychotic, and sleep disorders, the necessity for early diagnosis, the availability of innovative portable and wearable home-based monitoring equipment, and increased patient awareness are all contributing to this trend.

The Hospital segment is expected to grow with the highest CAGR during 2021-31

Global Brain Imaging Modalities Market is classified on the basis of End User into Hospitals, Ambulatory Surgical Centers, Clinics, and Diagnostic Centers. In 2020, the hospital sector accounted for the greatest proportion of the global brain imaging modalities market. Brain monitoring is a complicated procedure that necessitates the use of pricey and sophisticated technologies and equipment typically available in hospitals. In addition, compared to small clinics and other end users, hospitals see a significantly higher intake of patients.

Market Dynamics

Drivers

Growing Prevalence Neurological Disorders

Dementia, epilepsy, Parkinson's disease, Huntington's disease, multiple sclerosis, stroke, headache disorders, neuro infections, and cerebral palsy have all seen considerable increases in global incidence and prevalence over the years. Brain illnesses, which encompass a variety of developmental, behavioural, and neurodegenerative diseases, are becoming a more common cause of morbidity worldwide. The expanding senior population is mostly to blame for this. In addition, research show that by 2030, at least 60% of people aged 65 and up will have more than one chronic illness.

Government Investments in Healthcare Sector

As the prevalence and incidence of neurological diseases continue to rise, so will the use of new technologies. As a result, disease diagnosis will grow faster, and the global market for brain imaging modalities will expand. Governments invest a substantial amount of money in healthcare insurance in order to cut total healthcare expenses while also improving the quality of life and treatment affordability.

Restraint

High cost associated with the Brain Imaging devices and Surgeries

The high priced brain monitoring devices and operations are a major restraint on the global industry, mainly in underdeveloped economies with lax reimbursement norms. The procedures involving the use of brain monitoring equipment are often expensive, and the devices themselves are highly complicated.

Brain Imaging Modalities Market: Key Players

• Aspect Imaging
• Canon, Inc.
• Esaote SpA
• Fujifilm Holdings Corporation
• General Electric Company
• Hyperfine Inc.
• Koninklijke Philips N.V.
• Mediso Medical Imaging Systems
• MinFound Medical Systems Co., Ltd.
• Samsung Electronics Co., Ltd.
• Shenzhen Anke High-Tech Co.,Ltd.
• Shimadzu Corporation
• Siemens Healthineers AG
• United Imaging Healthcare Co., Ltd.
• VUNO Co., Ltd.
• Other Prominent Players

Brain Imaging Modalities Market: Regions

Global Brain Imaging Modalities Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In 2020, North America registered maximum proportion of the global brain imaging modalities market. This is because of the increase in the prevalence of neurological disorders, considerable rise in the number of clinical trials of the brain monitoring devices, and also the accessibility of medical reimbursement in the United States.

Impact of COVID-19 on Brain Imaging Modalities Market

In contrast to brain monitoring devices, COVID-19 has resulted in a considerable increase in demand for ventilators, and manufacturers are currently focusing their efforts on meeting the growing demand for ventilators, including other breathing devices. The pandemic is expected to have a negative influence on the brain monitoring industry, owing to hospitals' increased attention on establishing COVID-19-specific ICUs, as well as the temporary stoppage of production and manufacture in major afflicted locations around the world.

Global Brain Imaging Modalities Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States, Mexico, and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, BENELUX, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of Asia Pacific
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – GCC, South Africa, and Rest of Middle East and Africa

Brain Imaging Modalities Market report also contains analysis on:

Brain Imaging Modalities Market Segments:

• By Product
  • Devices
  • Accessories
  • Usability 
• By Modalities
  • Stand-Alone Functional Brain Imaging Systems
  • Portable Functional Brain Imaging Systems
• By End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Diagnostic Centers 
• Brain Imaging Modalities Market Dynamics
• Brain Imaging Modalities Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Brain Imaging Modalities Market Report Scope and Segmentation

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