Digital Health In Neurology Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digital health in neurology market size has grown exponentially in recent years. It will grow from $35.74 billion in 2023 to $44.26 billion in 2024 at a compound annual growth rate (CAGR) of 23.8%. The growth in the historic period can be attributed to improved access to care for Parkinson’s disease patients through digital health tools, leveraged big data for computational health in neurology, integrated digital tools with neurogenetics research, digital health initiatives for movement disorders, particularly in telemedicine applications.
The digital health in neurology market size is expected to see exponential growth in the next few years. It will grow to $105.10 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The growth in the forecast period can be attributed to advancements in AI and machine learning, telemedicine expansion, wearable technology and remote monitoring, big data and genomics integration, patient-centered digital health platforms, and regulatory and reimbursement frameworks. Major trends in the forecast period include the surge in patient-centric solutions, focus on remote monitoring and virtual care, AI-powered diagnostics, and treatment personalization, emphasis on preventative measures.
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Scope Of Digital Health In Neurology Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Digital Health In Neurology Market Overview
Market Drivers –
The digital health in neurology market size has grown exponentially in recent years. It will grow from $35.74 billion in 2023 to $44.26 billion in 2024 at a compound annual growth rate (CAGR) of 23.8%. The growth in the historic period can be attributed to improved access to care for Parkinson’s disease patients through digital health tools, leveraged big data for computational health in neurology, integrated digital tools with neurogenetics research, digital health initiatives for movement disorders, particularly in telemedicine applications.
The digital health in neurology market size is expected to see exponential growth in the next few years. It will grow to $105.10 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The growth in the forecast period can be attributed to advancements in AI and machine learning, telemedicine expansion, wearable technology and remote monitoring, big data and genomics integration, patient-centered digital health platforms, and regulatory and reimbursement frameworks. Major trends in the forecast period include the surge in patient-centric solutions, focus on remote monitoring and virtual care, AI-powered diagnostics, and treatment personalization, emphasis on preventative measures.
Market Trends –
Major companies operating in digital health in neurology market are focusing on developing innovative technology, such as a neural interface, to gain a competitive edge in the market. A neural interface is a technology that enables direct communication between the brain and external devices, allowing for control of or feedback from these devices. For instance, in November 2022, Blackrock Neurotech, a US-based biotechnology company, launched Neuralace, a next-generation neural interface. This innovative technology, featuring over 10,000 channels and a flexible electrode design, represents a significant advancement in brain-computer interface (BCI) technology. Neuralace is set to transform the treatment of neurological disorders by enabling comprehensive brain data capture and improving capabilities in vision and memory restoration, performance prediction, and mental health disorder treatment.
The digital health in neurology market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Indication: Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Epilepsy, Other Indications
3) By End-Use: Patients, Providers, Payers, Other End-users
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Regional Insights –
North America was the largest region in the digital health in neurology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital health in neurology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in digital health in neurology market are focusing on developing innovative technology, such as a neural interface, to gain a competitive edge in the market. A neural interface is a technology that enables direct communication between the brain and external devices, allowing for control of or feedback from these devices. For instance, in November 2022, Blackrock Neurotech, a US-based biotechnology company, launched Neuralace, a next-generation neural interface. This innovative technology, featuring over 10,000 channels and a flexible electrode design, represents a significant advancement in brain-computer interface (BCI) technology. Neuralace is set to transform the treatment of neurological disorders by enabling comprehensive brain data capture and improving capabilities in vision and memory restoration, performance prediction, and mental health disorder treatment.
Table of Contents
1. Executive Summary
2. Digital Health In Neurology Market Report Structure
3. Digital Health In Neurology Market Trends And Strategies
4. Digital Health In Neurology Market – Macro Economic Scenario
5. Digital Health In Neurology Market Size And Growth
…..
27. Digital Health In Neurology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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