The neuroscience market encompasses research tools and technologies employed to understand the human nervous system functions and treat various neurological disorders. Neuroscience research includes tools and techniques for cell culture, neural imaging, genome sequencing, proteomics and metabolomics which helps unravel the molecular mechanisms underlying normal brain function and dysfunctions.
The global neuroscience market is estimated to be valued at US$ 37.73 billion in 2024 and is expected to exhibit a CAGR of 21% over the forecast period from 2024 to 2031.
Key players operating in the neuroscience market are 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.
The growing need for innovative diagnostics and treatment options for neurological diseases is fueling the demand for advanced neuroscience research tools. Technologies such as single-cell genomics and multiomics techniques are enabling researchers to understand the complex brain functions at an unprecedented resolution. Advancements in areas including neuroimaging, brain–computer interfaces, cell culture techniques, clinical trials and biomarkers are expected to accelerate the development of novel therapeutics over the forecast period.
Geographically, North America dominates the global neuroscience market due to significant investments in neuroscience research by both private and public organizations in the region. However, Asia Pacific is emerging as a highly lucrative market with growing R&D expenditure and increasing adoption of advanced technologies among research laboratories in China, India and Japan. Collaboration between global players and regional research institutes is also helping strengthen the field of neuroscience in Asia Pacific.
The implementation of single-cell omics approaches is one of the key trends in the Neuroscience Market Demand. Techniques such as single-cell RNA sequencing, epigenomics, proteomics and metabolomics are revolutionizing our understanding of cell diversity and molecular heterogeneity in the brain. The ability to study gene expression, signaling pathways and molecular profiles at single cell resolution is enabling precision mapping of complex neural circuits and identification of novel cell types and biomarkers. This trend is anticipated to continue driving innovations and applications of transformative tools in the coming years.
Porter’s Analysis
Threat of new entrants: Low barriers for entry like capital requirements and technology. However, established players have economies of scale and brand loyalty advantage.
Bargaining power of buyers: High as neuroscience market has large number of global players providing substitutes. Buyers can negotiate on price and demand value added offerings.
Bargaining power of suppliers: Moderate as key raw materials are commoditised. However, suppliers of specialised instruments have some control over pricing.
Threat of new substitutes: High threat from substitutes and alternative treatment options. Continuous R&D leads to new products, technologies and treatment approaches.
Competitive rivalry: Intense competition among global and local players. Companies compete based on product innovation, pricing and service/support.
Geographical Regions
North America accounts for the largest share of the neuroscience market due to presence of major players, growing geriatric population and increasing focus on CNS disorders. USA dominates the region being an early adopter of advanced technologies.
Asia Pacific is poised to grow at the fastest pace during the forecast period driven by expanding healthcare infrastructure, growing medical tourism, increasing disposable incomes and rising incidence of neurological ailments in densely populated countries like India and China.
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