Neuroscience Market - Size, Share and Growth
Analysis 2018-2026
Neuroscience involves use of various methods to measure and image the brain activity.
Neuroscience is umbrella term focusing on molecular, cellular, developmental, structural,
functional, evolutionary, computing, psychosocial, and medical aspects of the nervous system.
Research in neuroscience is constantly evolving based on biology, pharmaceutical science,
medicine, cognitive science, and biomedical engineering. Neuroscience-based devices help in
collecting valuable information regarding activities in brain and can be used in various areas
such as better understanding of pathophysiology and symptoms of various chronic neurological
diseases such as epilepsy, Alzheimer’s disease and other dementias; cerebrovascular diseases
including stroke, migraine, and other headache disorders, multiple sclerosis, Parkinson's disease,
neuro-infections, brain tumors; and traumatic disorders of the nervous system due to head
trauma.
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These devices consist of different instruments that are required for neuroscience-based
experiments. Various types of electrophysiology instruments and imaging instruments are utilized
to map the brain and examine the brain activity.
The global neuroscience market size was valued at US$ 26,593 million in 2017, and is expected
to witness a CAGR of 3.9% over the forecast period (2018 – 2026).
Market Dynamics
High prevalence of chronic neurological diseases leads to increasing research activities in the
field of neuroscience, which in turn is expected to boost growth of the neuroscience market.
For instance, according to the Centers for Disease Control and Prevention’s (CDC) factsheet in
2018, on an average, every 40 seconds someone in the U.S. has a stroke. According to CDC’s
factsheet in 2018, the annual cost of stroke-related treatment is around US$ 34 billion in the
U.S., which includes cost of healthcare services, medicine, and human capital cost. Similarly,