The Global Neurology Services Market Size is estimated to be worth US$ 2,693.2 million by the end of 2023 and to grow at a 5.3% CAGR from 2023 to 2033. By 2033, the market is expected to be worth US$ 4,524.3 million. Surgical services is the market leader by service, with a 39.6% market share in 2022.
Neurology Services include the diagnosis and treatment of all illnesses and diseases involving the brain, spinal cord, and peripheral nerves. Diagnostic services use a variety of procedures to determine the architecture and physiology of an existing neurological condition, including electroencephalography (EEG), CT, MRI, and PET scan. Monitoring services, on the other hand, are used to continuously monitor an individual’s neurological activity in order to take appropriate action against the detected sickness or problem.
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Therapeutic treatments, which include pharmacological therapies and rehabilitation therapies, are used to manage neurological problems when surgical intervention is not required. Finally, surgical services are accompanied with complications that must be remedied physically through surgical intervention.
Cognitive comprehension is one of the most essential indicators of a person’s brain health and ability to think and respond in critical situations. An individual’s everyday activities might be evaluated to help prevent mental fitness degradation.
The brain is a complicated organ that is vital to a person’s overall health and well-being. Neurological changes associated with ageing, traumas, strokes, depression, drug addiction, and illnesses such as major depressive disorders can all have a significant impact on brain health. While certain factors influencing brain health cannot be avoided, other lifestyle changes can help.
The rising prevalence of Parkinson’s disease in the United States will increase the demand for Neuro Physiotherapists:
According to FMI, the United States owned around 89.1% of the North American market in 2021 and is expected to rise at a lucrative CAGR of 4.4% over the forecast period. The prevalence of advanced technologies for treating neurological disorders, as well as the availability of a well-structured reimbursement system in the country, are credited to growth.
In the United States, the prevalence of neurological illnesses such as Alzheimer’s, Parkinson’s, and ischemic stroke has increased, resulting in substantial market growth. According to the Centres for Disease Control and Prevention (CDC) in the United States, roughly 87% of all strokes are ischemic strokes, which occur when blood supply to the brain is interrupted. Furthermore, 10% of these strokes result in death within a month.
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According to the Parkinson’s Foundation, as the population ages, approximately 1.2 million persons in the United States will develop Parkinson’s disease by 2030, up from the current estimate of one million. These figures are expected to rise in the following decade, putting pressure on the US market.
Top Global Neurology Services Market Trends Driving Demand:
Because of ongoing advances in healthcare infrastructure, the global market is expected to present an attractive view. Government increases in medical spending will also encourage the production of pricey medications and medical gadgets. With rapid innovation, the usage of modern medical equipment in hospitals, ambulatory surgery centres, and primary healthcare units will increase around the world.
Leading manufacturers would benefit from the increased frequency of depression and other mental health conditions in wealthy countries. Several start-up enterprises are also expected to enter the market, offering cost-effective treatment solutions.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Neurology Services market in its latest study, presenting a historical demand assessment of 2012 to 2022 and projections for 2023 to 2033. The global Neurology Services market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the service – (diagnostic service, monitoring service, therapeutics service, and surgical service), by indication (attention-deficit/hyperactivity disorder (ADHD), mental health, stroke, concussion, dementia, multiple sclerosis, psychotic disorder, and other neurological diseases), and by the service provider (neurofeedback clinics, neurology clinics, hospitals, neurorehabilitation centers), across seven key regions of the world.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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