Market Analysis Reports

Market Analysis - Neurologists Meeting 2024

One of the most important future international conferences in the subject of neurology is the Neurology Meeting in 2024. For academics and industry professionals, this is an incredible chance to expand their global networks and improve their research.
The worldwide neurology market is projected to increase from USD 33.3 billion to USD 39.4 billion between 2019 and 2024 at a compound annual growth rate (CAGR) of 3.5%. Analysts predict that it will expand at a CAGR of 12.9% from 2020 to 2028. Many people suffer from neurological illnesses, which can include everything from epilepsy to stroke and from headaches to Alzheimer's disease. According to WHO estimates, neurological illnesses claim the lives of more than 6.8 million people annually.

These neurological conditions eventually led to expensive treatment options, affecting 50 million Americans. According to analysts, the neuroscience marketing device market—which will be addressed in Neurology—will reach USD 13.6 billion in 2019 if it continues to develop at its present rate. As to the World Health Organization, neurological disorders might impact as much as 14% of people by 2020. Researchers believe that by 2050, there would be 115 million cases of neurodegenerative disorders worldwide, up from the present estimate of 50 million cases. According to a UN estimate, 6.8 million people worldwide, or about one in six of the world's population, die from neurological illnesses each year.

More than 600 neurological disorders are known to have a major impact on a person's nerve and muscle systems. Neurology conferences will include the latest research because there are still many issues that cannot be treated. Statistics from the University of California, San Francisco show that sixty million Americans suffer from cerebrovascular illness, sixty million from epilepsy, thirty-six million from migraines, and twenty-four million have Alzheimer's disease or another type of dementia. The global market for neurology equipment was estimated to be worth USD 9.2 million in 2018.

 By 2026, this amount is expected to increase to USD 17.4 million. Numerous figures suggest that the European neurology industry will grow at a compound annual growth rate (CAGR) of around 8.3% from 2021 to 2028. The primary factors propelling the growth of the neurology market are the prevalence of various neurological disorders, the adoption of various healthcare technological advancements, the challenge of treating patients who experience recurrent strokes, and rising costs associated with building healthcare infrastructure, particularly in developing nations.

Analysis at the country level in Europe
During the projected time frame, significant increases are expected to continue to be observed throughout Europe. This is due to the proliferation of neurological illnesses as well as the accessibility of state-of-the-art medical technology. London is expected to surpass other European nations as the top country because of the rise in government spending on the construction of healthcare facilities, according to sources.

The various market-impacting elements and modifications to local market legislation are also included in the list of nations that comprise the European neurology market. A few of the key data points that were used to forecast the market study for the United Kingdom were production locations and quantities, consumption figures, price trend analysis, raw material cost, import-export analysis, and upstream and downstream value chain analysis. The prediction study for the UK takes into account trade routes, domestic tariffs, the existence and accessibility of foreign brands, and the difficulties they face due to intense or moderate competition from local and domestic enterprises.

Every nation's market is examined in great detail. The installed base of various product types, changes in healthcare regulations, healthcare capital equipment expenses, and the influence of technology using lifeline curves are all factors in the country's growth.
The neurological biomarkers market in Europe generated USD 1,221.15 million in revenue in 2019; by 2027, it is projected to generate USD 3,062.94 million. Over this period, the market is expected to expand at a CAGR of 12.4%. Numerous reasons, including as the rise in neurological illnesses and the continuous investigation of neurological biomarkers, are anticipated to propel the market's growth. But commercial expansion is predicted to be constrained by problems in using neurological biomarkers.

Patients' inclination for tailored, precision care is predicted to remain a long-lasting trend, and industry players anticipate that greater consumer awareness of the advantages of early diagnosis will open up new avenues for them to find innovative biomarkers. It is anticipated that the rise in these neurological disorders will support market expansion in the upcoming years. The predicted value of the global neurology services market in 2021 was USD 2,342.9 billion, and over the next 10 years, it is anticipated to grow by a factor of 1.7. By 2032, the market for neurology services is expected to grow at a compound annual growth rate of 5.4%, resulting in a projected value of USD 4,317.8 billion.

The primary drivers of the market's growth are the aging population, the rise in neuroscience-related R&D, and the significant investments made in neurology equipment by private businesses. The rising incidence of neurological diseases such as multiple sclerosis, Parkinson's disease, stroke, peripheral neuropathy, post-herpetic neuralgia, brain aneurysms, brain tumors, epilepsy, memory loss, and spinal cord tumors is another factor propelling the growth of the neurology device market in the UK. The entire neurology business in the UK is expected to rise due to factors such as rising healthcare spending, more investment from medical device manufacturers, and an increase in the prevalence of neurological disorders.