Global AI in NeurologyMarket
The global AI in Neurology market is estimated to be worth over USD1,408.38 Mnin 2033 and is expected to grow at CAGR of40.2% during the forecast period (2024-2033).
The global AI in neurology market is witnessingstrong growth fueled by key factors, significant developments, and the advent of novel technologies. One primary driving factor is the growing prevalence of neurological disorders across the globe, instigating an escalated demand for advanced solutions to enhance diagnostics, treatment, and research. Technological advancements, including machine learning algorithms, natural language processing, and computer vision, have revolutionized the field by allowing the evaluation of complex neurological data with unprecedented accuracy and efficiency.
Major developments include the integration of multimodal data sources such as neuroimaging scans, genetic profiles, and clinical records, facilitating a comprehensive understanding of neurological conditions. In addition to that, the adoption of Explainable AI (XAI) techniques improves transparency and interpretability of AI models, addressing concerns associated with their "black-box" nature. Novel technologies such as deep learning and neural networks accelerate innovation by enabling the interpretation of neuroimaging scans, EEG signals, and genomic data to inform clinical decision-making. In parallel, the demand for Software-as-a-Service (SaaS) in AI neurology poses a notable market opportunity, spurring scalability, accessibility, and democratization of AI technologies in neurological care. North America leads the global market, encouraged by advanced healthcare infrastructure, major investments in AI research, and a supportive regulatory environment.
However, robust growth is ascertained in other regions such as Europe and Asia-Pacific, fueled by growing adoption of AI technologies and collaborations between academia, industry, and government. Regardless of the favorable opportunities, challenges such as data privacy concerns, confined clinical validation, and regulatory barriers remain substantial barriers to market expansion. Nonetheless, the confluence of AI and neurology holds colossal potential to revolutionize patient care, propel scientific discoveries, and enhance outcomes for individuals affected by neurological disorders across the world.
The market report presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this industry, across different geographies. Amongst other elements, the market report includes:
A preface providing an introduction to the full report, AI in Neurologymarket, 2023-2033.
An outline of the systematic research methodology adopted to conduct the study on AI in Neurologymarket, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
An overview of economic factors that impact the overall AI in Neurologymarket, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
An executive summary of the insights captured during our research, offering a high-level view of the current state of the AI in Neurologymarket and its likely evolution in the mid-to-long term.
A brief introduction to the AI in Neurology, highlighting their historical background, as well as information on their types, key aspects, key challenges and the advantages of using AI in Neurology.
A detailed assessment of the market landscape of AI in Neurologythat are either approved or being evaluated in different stages of development, based on several relevant parameters, such as By Indication (Neuro-technology, Neurosurgery), By Application (Screening & Diagnosis, Treatment, Research & Development, Training, Surgical Planning and Rehabilitation, Others), By Type (Oncology, Neurodegeneration, Neurovascular, Traumatic Brain Injury, Spinal Cord Injury), By Technology (Machine Learning and Deep Learning, Natural Language Processing [NLP], Others), By End User (Hospitals, Diagnosis Centres, Others). Further, the chapter features analysis on key niche market segments. In addition, the chapter features analysis of various AI in Neurologydevelopers, based on their year of establishment, company size, location of headquarters and most active players.
An in-depth analysis of partnerships and collaborations that have been inked between various stakeholders, since 2019, based on several relevant parameters, such as the year of partnership, type of partnership, focus of partnership, purpose of partnership, therapeutic applications and most active players (in terms of number of partnerships). It also highlights the regional distribution of partnership activity in this market.
A detailed analysis of various investments made by companies engaged in this industry, since 2019, based on several relevant parameters, such as year of funding, type of funding (grants, seed, venture capital, initial public offering, secondary offerings, private equity and debt financing), type of HPAPIs, amount invested, geography, purpose of funding, stage of development, therapeutic area, most active players (in terms of number and amount of funding instances) and leading investors (in terms of number of funding instances).
An in-depth analysis of the various AI in Neurologyfocused initiatives undertaken by big market players, based on several relevant parameters, such as number of initiatives, year of initiative, type of initiative, purpose of initiative, focus of initiative and location of headquarters of the big pharma players.
One of the key objectives of this market report was to estimate the current market size and the future growth potential of the AI in Neurologyover the forecast period. Based on several parameters, such as regional analysis as well as segmental analysis rates, we have developed informed estimates of the likely evolution of the AI in Neurologymarket over the forecast period 2023-2033. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as By Indication (Neuro-technology, Neurosurgery), By Application (Screening & Diagnosis, Treatment, Research & Development, Training, Surgical Planning and Rehabilitation, Others), By Type (Oncology, Neurodegeneration, Neurovascular, Traumatic Brain Injury, Spinal Cord Injury), By Technology (Machine Learning and Deep Learning, Natural Language Processing [NLP], Others), By End User (Hospitals, Diagnosis Centres, Others), by key geographical regions (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) and leading players. In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.