Neurodiagnostics Market Size, Share, Growth Analysis, By Condition(Neuro Degenerative Diseases, Epilepsy, Stroke, Headache Disorders), By End User(Hospitals & Surgery Centers, Diagnostic Laboratories & Imaging Centers, Neurology Centers, and Others), By Region - Industry Forecast 2025-2032

Global Neurodiagnostics Market size was valued at USD 7.45 billion in 2022 and is poised to grow from USD 7.97 billion in 2023 to USD 13.70 billion by 2031, growing at a CAGR of 7% during the forecast period (2024-2031).

Some of the key players in the neurodiagnostic market include Siemens Healthineers, GE Healthcare, Philips Healthcare, and Abbott Laboratories, and new entrants, who are predicted to be future leaders in the industry and are utilizing advanced technologies. These companies focus on strengthening their presence in the above market primarily by forming strategic alliances, mergers and acquisitions and by new product development. This is being pushed forward within healthcare organizations as artificial intelligence, imaging and genetic testing technologies evolve where organizations are looking for more precise, cheaper and quicker ways of diagnosing patients.  'Siemens Healthineers (Germany)', 'GE Healthcare (US)', 'Philips Healthcare (Netherlands)', 'Medtronic (Ireland)', 'Hitachi Medical Corporation (Japan)', 'Natus Medical Incorporated (US)', 'Abbott Laboratories (US)', 'Koninklijke Philips N.V. (Netherlands)', 'Thermo Fisher Scientific Inc. (US)', 'Elekta AB (Sweden)', 'Brainlab AG (Germany)', 'Masimo Corporation (US)', 'Cadwell Industries Inc. (US)', 'Advanced Brain Monitoring, Inc. (US)', 'Compumedics Limited (Australia)', 'Neurosoft Ltd. (Russia)', 'Magstim (UK)', 'NeuroWave Systems Inc. (US)', 'BrainScope Company Inc. (US)', 'Blackrock Microsystems LLC (US)'

The main reason for market growth in neurodiagnostic is the mounting incidence of neurological conditions such as epilepsy, Parkinson's, and Alzheimer's. Neurodiagnostic technologies are increasingly being adopted in healthcare facilities as the demand for sophisticated diagnostic instrumentation to identify and track these disorders increases with the increased number of afflicted individuals. 

Genomics and Personalized Medicine: The proteomics and genomics revolution, which is aiding the healing of neurological disorders, is the current market trend in personalization medicine. By examining an individual’s genetic code, the physician can provide more targeted and efficacious treatments enhancing that individual’s care. Therefore, this trend in the neurodiagnostic sector is leaning towards the utilization of sophisticated diagnostic techniques. 

Revenue share of the market in 2023 was occupied by North America with a dominating share of 35.8%. Many factors, such as a mature healthcare infrastructure, research and development initiatives, and health expenditures, contribute to this regional dominance. For instance, the 159-bed Indiana NeuroDiagnostic Institute and Advanced Treatment Center, NDI, which costs USD 120 million, opened in March 2019. Traumatic brain injury, neurodegenerative disorders such as Alzheimer's disease, acute and chronic mental illness, among others, are treated by the institution. Neurological conditions also happen to be relatively prevalent in the region; therefore, the more pressing need for neurodiagnostic arises.