The Europe Neuroscience Market would witness market growth of 5.3% CAGR during the forecast period (2023-2030).
The governments of numerous countries are additionally making positive efforts to raise awareness about neurological illnesses and the available therapeutic choices. Additionally, the market is growing as a result of the increased use of magnetic resonance imaging (MRI), optogenetics, microscopy, and electrophysiological techniques in the diagnosis of various neurological disorders.
The top players are also creating new medical devices that offer improved effectiveness and patient compliance to increase their product portfolio and obtain a competitive advantage. Furthermore, the market is expanding as more people become aware of the advantages of cutting-edge neuroscience technologies over traditional standalone imaging devices, such as combining various imaging devices with MRI and neuro microscopes.
Other reasons, such as rising government funding for research and development (R&D) activities, breakthroughs in neuroscience and neurotechnology, an increasing senior population, and enhanced health care infrastructure, are all providing a significant boost to the growth of the market as well.
In the United Kingdom, brain aneurysms affect approximately 2-3% of the population. The prevalence of this condition is higher among women than men and is more frequently observed in the adult population. The incidence rate of subarachnoid haemorrhage caused by aneurysms in the UK is estimated to be around 7 cases per 100,000 for individuals with sporadic aneurysms. An aneurysm occurs due to a weakness in a blood vessel (artery), resulting in a bulging or out-pouching that fills with blood. After an aneurysm has been treated, neuroscience plays a crucial role in patient management and follow-up. Imaging methods are used to assess treatment success, monitor the healing process, and identify potential complications. Therefore, the rising prevalence of aneurysm and similar problems will propel the expansion of the market in the coming years.
The Germany market dominated the Europe Neuroscience Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,205.9 million by 2030. The UK market is exhibiting a CAGR of 4.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6.1% during (2023 - 2030).
Based on Component, the market is segmented into Instruments, Consumables, and Software & Services. Based on Technology, the market is segmented into Brain Imaging, Stereotaxic Surgeries, Neuro-Microscopy, Neuro-Proteomic Analysis, Neuro-Cellular Manipulation, and Others. Based on End User, the market is segmented into Diagnostic Laboratories, Hospitals, and Research & Academic Institute. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Neuroscience Market is Projected to reach USD 64 Billion by 2030, at a CAGR of 5.5%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Carl Zeiss AG, Danaher Corporation, Koninklijke Philips N.V., GE HealthCare Technologies, Inc., Terumo Corporation, B. Braun Melsungen AG, Medtronic PLC, Stryker Corporation, Boston Scientific Corporation and Abbott Laboratories
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