by The neuroscience market encompasses products and technologies used for studying the nervous system and treating neurological disorders. It includes instruments and reagents used in neuroscience research for activities such as gene sequencing, brain mapping, cell imaging, and drug discovery. Neuroscience research helps understand functions and diseases of the brain like Alzheimer’s, Parkinson’s, schizophrenia, epilepsy, and Autism. Brain research is crucial as neurological disorders are a leading cause of disability and poor life quality worldwide. Neurotechnologies enable non-invasive exploration of the brain’s complex neural circuits through novel techniques. The global neuroscience market is estimated to be valued at US$ 32.75 billion in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the neuroscience market is the adoption of next-generation neurotechnologies. Technologies like optogenetics, CLARITY, expansion microscopy and connectomics are revolutionizing how the brain is studied. Optogenetics allows controlling neuronal activity with light by combining genetic and optical methods. CLARITY and expansion microscopy enable intact tissue visualization with single-cell resolution. Connectomics utilizes techniques like electron microscopy to map neural connections at microscopic levels. These cutting-edge technologies provide unprecedented views of the brain and promise to accelerate our understanding of neurological diseases. Their adoption is expected to rise significantly in the coming years as neuroscience seeks to map the brain’s workings in high-resolution detail.
Porter’s Analysis
Threat of new entrants: Low due to high capital requirements and intellectual property protection. Bargaining power of buyers: High as neuroscience research institutions have significant influence. Bargaining power of suppliers: Moderate as manufacturing capabilities of key materials requires investments. Threat of new substitutes: Low as neuroscience focus continues to expand understanding of brain and related diseases. Competitive rivalry: High among major players due to heavy R&D investments in innovating new neuroscience technologies.
Key Takeaways
The Global Neuroscience Market Demand is expected to witness high growth.
The North American region is dominating the global market owing to concentration of key players and presence of advanced research infrastructure.
Key players operating in the neuroscience market include Agilent Technologies Inc., F. Hoffmann-La Roche Ltd, Nucleome Informatics Private Limited, Azenta Life Sciences, Bio-Rad Laboratories Inc., Danaher Corporation, Douglas Scientific LLC, AllGenetics & Biology SL, Illumina Inc., Life Technologies Corp., Consultative Group on International Agricultural Research, Avance Biosciences, Genotypic Technology Pvt Ltd, Xelect Ltd, Taconic Biosciences, Inc., Luminex Corp., Promega Corporation, CD Genomics, Synbio Technologies, Thermo Fischer Scientific Inc., Sequenom, PREMIER Biosoft, Fluidigm Corporation, Novacyt, Twist Bioscience, Regeneron Pharmaceuticals, Inc, NRGene, and LGC Biosearch Technologies, among other prominent players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
