The global brain modalities and software market is expected to grow at a CAGR of ~5% from 2021-2027.
A comprehensive overview of the brain modalities and software market is recently added by UnivDatos Market Insights to its humongous database. The brain modalities and software market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the brain modalities and software market. The brain modalities and software market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Brain Modalities and Software market at the global and regional levels. The global brain modalities and software market is expected to grow at a CAGR of ~5% from 2021-2027.
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Market Overview
Brain modalities and software devices are used to monitor and diagnose neurological diseases by exploring the structure and function of the brain. This process involves the use of several brain modalities and software devices such as magnetic resonance imaging scanners, computerized tomography scanners, and positron emission tomography scanners to track brain functions. In addition, these devices help monitor neural and electrical activity in the brain. At present, there is an increase in the demand for computerized tomography scanners among healthcare providers.
The survival rate from Parkinson’s disease has gradually decreased over the last decade. Parkinson’s disease is a nervous system disorder that progressively impacts movement. It is predicted that by the year 2030 there will be around 1.2 million people living with Parkinson’s disease in the U.S., A recent survey of Parkinson’s disease patients showed that some of the most common symptoms from the disease included fatigue, tremors or shaking, trouble sleeping, and changes in handwriting. Common cognitive changes involved concentration and attention span, verbal fluency, information processing, and memory.
The growth of this market is driven owing to the rising incidence and prevalence of neurological disorders, rising awareness of neurodegenerative diseases, and growth in the number of traumatic brain injuries. For instance, According to World Health Organization (WHO), in September 2021 more than 55 million people live with dementia worldwide, and there are nearly 10 million new cases every year. Also, in 2019, globally, 50 million people were diagnosed with epilepsy. According to World Health Organization (WHO), nearly 80% population live in low- and middle-income countries.
COVID-19 Impact
The COVID-19 outbreak impacted the brain modality & software market in the initial phase. Due to nationwide lockdowns, denied wound care services, canceled or postponed elective surgeries, and increasing mental health problems during the lockdown. But COVID-19 has led to a significant surge in the demand for ventilators, and manufacturers are currently focusing their efforts to meet the increasing need for ventilators, including other respiratory devices, in contrast to brain modalities and software devices.
Global brain modalities and software market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Offering, the market is primarily bifurcated into
· Brain Imaging Modalities
· Brain Analysis Software
Based on offering, the brain modalities and software market is bifurcated into brain imaging modalities, and brain analysis software. Among these, the brain imaging modalities category held the largest share in the market. This is mainly due to the rising incidence of neurological, traumatic brain injuries, psychotic, and sleep disorders, the need for early diagnosis, and increasing patient awareness.
By Application, the market is primarily segmented into
· Headache Disorders
· Epilepsy
· Sleep Disorders
· Parkinson’s Disease
· Traumatic Brain Injury (TBI)
· Stroke
· Huntington's Disease
· Dementia
· Others
Based on application, the brain modalities and software market is segmented into traumatic brain injury (TBI), Headache Disorders, Epilepsy, Sleep Disorders, Parkinson’s Disease, Stroke, Huntington's Disease, Dementia, and others. In 2020, TBI held a significant share in the market. This is mainly due to the growing incidence of traumatic brain injuries across the globe, leading to high demand for the efficient diagnosis and treatment of these cases, thus requiring the intensive use of brain modalities and software devices. According to the World Health Organization, will surpass many diseases as the major cause of death and disability by the year 2020. With an estimated 10 million people affected annually by TBI, the burden of mortality and morbidity that this condition imposes on society makes TBI pressing public health and medical problem.
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Brain Modalities and Software Market Geographical Segmentation Includes:
· North America (U.S., Canada and Rest of North America)
· Europe (Germany, U.K., France, Spain, Italy, Rest of Europe)
· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption, the report provides a detailed analysis of major regions and countries including North America (US, Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), and Rest of World. North America is expected to dominate the brain modalities and software market due to the growing incidence of neurological diseases coupled with rising expenditure on development of advance products and systems for treatment of various neurological and other diseases. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, due to the increase in the geriatric population.
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The major players targeting the market includes
· Vuno Co. Ltd.
· Fujifilm Holdings Corporation
· Imaging Biometrics LLC
· A.I. Analysis Inc.
· Aspect Imaging Ltd.
· IXICO plc
· Mint Labs Inc.
· Medtronic
· CAS Medical Systems, Inc.
· Drägerwerk AG & Co. KGaA
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Brain Modalities and Software market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the brain modalities and software market?
• Which factors are influencing the brain modalities and software market over the forecast period?
• What are the global challenges, threats, and risks in the brain modalities and software market?
• Which factors are propelling and restraining the brain modalities and software market?
• What are the demanding global regions of the brain modalities and software market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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