Global Neurodiagnostics Market - Industry Size, Share, Growth, Trends and Forecast 2016 - 2023
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Report Neurodiagnostics Market - Global Industry Analysis, Size,
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Neurodiagnostics
or neurodiagnostic tests monitor and record electrical activities of
patient’s brain, spinal cord and peripheral nerves. The US National
Institute of Mental Health (NIMH) estimates that approximately one in
four individual suffers from diagnosable mental disorder each year.
One in seventeen which is approximately 13.6 million people live with
serious mental illnesses such as schizophrenia, major depression or
bipolar disorder. Serious mental illness costs the United States
approximately USD 193.2 billion losses each year. Among other neural
disorders, mood disorders such as depression are one of the most
common causes of hospitalization among youth and adults in the U.S.
aged between 18 years to 44 years. According to a report by the
Alzheimer’s Association approximately 5.1 million people in the
United States suffers from Alzheimer’s disease in 2012 and by 2020,
the statistical data is likely to touch 16 million bar with one new
case appearing in every 33 seconds. Autism and Autism Spectrum
Disorders, according to an analysis by the Centers for Disease
Control is estimated to affect 1 in every 88 children in the U.S.
Similar studies conducted in other countries, for instance the UK
National Health Service estimates the prevalence of Autism Spectrum
disorders among adults in England is approximately one percent in
2012. The economic cost associated with Autism in the U.S. and U.K.
is estimated to be approximately USD 35 billion and USD 45 billion
(£27 billion) respectively each year.
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Prevalence
of other prominent diseases such as multiple sclerosis, narcolepsy
and sleep disorders and strokes among others accounted for 400,000,
14.3 million and 4,700,000 individuals respectively between 2001 and
2014. With such a growing population of neurological disorders across
the globe the market for neurodiagnostics will positively emerge out
as a prospecting and lucrative market in coming years. Diagnosis of
these neurological disorders is rapidly changing as new tools now a
day developed are coming up with the sole intention of rendering
personalized assessment and treatment. In general the market for
neurodiagnostics can be segmented on the basis of nuroimaging
techniques, in-vitro diagnostic techniques and disease type. The
market for neuroimaging techniques can be further sub-segmented into
electro-encephalography, nuclear medicine imaging (pet),
magneto-encephalography, and computed tomography among others.
Whereas, market for in-vitro diagnostic include protein biomarker
assay and genetic testing and pharmacogenomics among others.
The
commonly occurring disease type encompasses attention disorder,
Alzheimer's, anxiety disorder, schizophrenia, depression, epilepsy,
Parkinson's disease, sensory disorders, and sleep disorders among
others. Major drivers for the neurodiagnostics market comprises
advances in diagnostic equipments, developments in biomarker assay
techniques and increasing use of imaging techniques in drug
development. Growing trend of cloud computing based EEG devices which
can store all the diagnosis report, medication schedules and sharing
of real time analysis with patients as well as other physicians is
likely to uplift the neurodiagnostics market in coming years. The
lack of regular diagnosis and mental health check up not in
developing and emerging economies but even in developed parts of the
world is one of the prominent and major restraints to the
neurodiagnostics market. There are still millions of people who are
yet undiagnosed and a large chunk of the affected population are
carrying them for more than 5 years.
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Some
of the prominent players in the neurological disorders include Neuro
Diagnostic Devices, Inc., Lifelines Neurodiagnostics Systems Inc.,
Zynex NeuroDiagnostics, Digital NeuroDiagnostics, LLC, Ridge
Diagnostics among others.
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the coming years. It includes analysis of recent developments in
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of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
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