According to a new report, published by KBV research, The Global IVD In Cardiology And Neurology Market size is expected to reach $29.9 billion by 2030, rising at a market growth of 9.3% CAGR during the forecast period.
Advances in neuroimaging technologies, including positron emission tomography (PET), magnetic resonance imaging (MRI), and functional MRI (fMRI), contribute to the refinement of diagnostic capabilities in neurology. These imaging modalities aid in visualizing structural and functional abnormalities, supporting more accurate and comprehensive diagnoses.
Furthermore, neuroimaging technologies complement each other, allowing for a holistic evaluation of neurological conditions. Combining structural information from MRI with functional insights from PET and fMRI provides a comprehensive understanding of brain health. The integration of multiple imaging modalities aids clinicians in making more informed decisions. For example, structural changes observed through MRI may be correlated with functional deficits detected by PET and fMRI in the assessment of neurodegenerative diseases.
The Instruments segment is experiencing a CAGR of 9.8% during (2023 - 2030). Continuous innovations in diagnostic instruments, such as advanced imaging devices, molecular diagnostic tools, and point-of-care testing devices, can drive market growth. Upgraded technologies often lead to more accurate and efficient diagnostic processes. Therefore, owing to these factors, there will be enhanced growth in the segment.
The Hospitals segment is leading the Global IVD In Cardiology And Neurology Market by End-use in 2022; thereby, achieving a market value of $16.6 billion by 2030. Hospitals are more likely to adopt advanced diagnostic technologies, and the growth of IVD in cardiology and neurology may be linked to integrating innovative and high-tech diagnostic tools within hospital settings. As per the Thus, these factors will boost the demand in the segment.
The Molecular Diagnostics segment is showcasing a CAGR of 9.5% during (2023 - 2030). Molecular diagnostics play a crucial role in advancing precision medicine. In cardiology, genetic testing can identify specific genetic markers associated with cardiovascular conditions, enabling personalized treatment plans. Similarly, in neurology, molecular diagnostics aid in understanding genetic factors contributing to neurological disorders, paving the way for targeted therapies. Hence, these factors can lead to the expansion of the segment.
Full Report: https://www.kbvresearch.com/ivd-in-cardiology-and-neurology-market/
The North America region dominated the Global IVD In Cardiology And Neurology Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $12.1 billion by 2030. The Europe region is anticipated to grow a CAGR of 8.9% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 10.2% during (2023 - 2030).
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