NEURODIAGNOSTICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America remains the dominant region in the global neurodiagnostics market and is anticipated to hold 34.8% of the market share in 2024. The major factor contributing to its leadership position is the presence of a well-established healthcare infrastructure and advanced technologies in countries like the U.S. and Canada. These countries have been early adopters of new neurodiagnostics technologies due to strong demand. They also provide favorable reimbursement policies, facilitating wider adoption of such technologies. North America has a large number of leading neurodiagnostics device manufacturers such as GE Healthcare, Philips Healthcare, Siemens Healthineers, etc. The strong in-house manufacturing base creates easy accessibility to a wide range of advanced neurodiagnostic devices. It also allows local companies to continuously invest in research and development to introduce innovative products in the market. This has ensured that North America is at the forefront of introducing new technologies like portable or wearable neuromonitoring devices.

The Asia Pacific region has been witnessing strong growth in the neurodiagnostics market over the past few years. Major factors driving the market expansion are rising incidence of neurodegenerative diseases, growing health awareness, expanding healthcare infrastructure, and increasing disposal incomes in developing countries like China, India, and other Asian economies. The neurodiagnostics market is attracting significant investments from global as well as local medical device manufacturers to tap growth opportunities in this region. Several companies have set up manufacturing facilities or partnered with local players. This has increased availability and access to advanced neurodiagnostics solutions. Additionally, favorable government initiatives aimed at making healthcare more affordable and accessible are facilitating the wider adoption of neurodiagnostics across Asia Pacific. This positions the region as one of the fastest growing markets for neurodiagnostics globally.