Neurology Monitoring Market Poised for Growth, Expected to Reach $8.3 Billion by 2028
Neurology Monitoring Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Neurology Monitoring Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- The neurology monitoring market has seen robust growth recently, with projections indicating it will expand from $6.08 billion in 2023 to $6.53 billion in 2024, achieving a compound annual growth rate (CAGR) of 7.5%. This growth is driven by factors such as the increasing prevalence of neurological disorders, a rising aging population, and heightened awareness and diagnosis rates. The demand for non-invasive monitoring solutions and the integration of remote patient monitoring also contribute significantly to market expansion.
Focus on Early Detection and Intervention Drives Market Growth
In the coming years, the neurology monitoring market is expected to continue its strong growth trajectory, reaching an estimated $8.3 billion by 2028 at a CAGR of 6.2%. This forecast growth is fueled by initiatives aimed at early detection and intervention in neurological conditions, the expanding role of telemedicine and remote monitoring, advancements in personalized medicine approaches, and supportive governmental healthcare initiatives.
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Adoption of Wearable Devices and Integration of VR/AR Define Future Trends
Major trends in the forecast period include the adoption of wearable neurological monitoring devices, integration of virtual reality (VR) and augmented reality (AR) technologies in neurology monitoring, implementation of wireless connectivity in monitoring devices, development of home-based monitoring solutions, and a focus on multi-modal neurophysiological monitoring systems.
Key Segments in the Neurology Monitoring Market
• Product Type: Magnetic Resonance Imaging (MRI) Devices, Electroencephalography (EEG) Devices, Cerebral Oximeters, Intracranial Pressure Monitors, Other Product Types
• Disease Type: Traumatic Brain Injury (TBI), Stroke, Sleep Disorders, Parkinson's Disease, Epilepsy, Other Disease Types
• End User: Hospitals, Neurology Centers, Diagnostic Centers, Advancing Surgical Care and Clinics, Other End Users
North America Leads, Asia-Pacific to Witness Fastest Growth
North America dominated the neurology monitoring market in 2023, driven by technological advancements and high healthcare expenditures. However, Asia-Pacific is expected to emerge as the fastest-growing region during the forecast period, owing to increasing healthcare infrastructure development and rising neurological disorders in countries like China and India.
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Neurology Monitoring Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Neurology Monitoring Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on neurology monitoring market size, neurology monitoring market drivers and trends, neurology monitoring market major players, competitors' revenues, market positioning, and market growth across geographies. The neurology monitoring market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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