Neurodiagnostics or neurodiagnostic tests monitor and record
electrical activities of patient’s brain, spinal cord and
peripheral nerves. The US National Institute of Mental Health (NIMH)
estimates that approximately one in four individual suffers from
diagnosable mental disorder each year. One in seventeen which is
approximately 13.6 million people live with serious mental illnesses
such as schizophrenia, major depression or bipolar disorder. Serious
mental illness costs the United States approximately USD 193.2
billion losses each year. Among other neural disorders, mood
disorders such as depression are one of the most common causes of
hospitalization among youth and adults in the U.S. aged between 18
years to 44 years. According to a report by the Alzheimer’s
Association approximately 5.1 million people in the United States
suffers from Alzheimer’s disease in 2012 and by 2020, the
statistical data is likely to touch 16 million bar with one new case
appearing in every 33 seconds. Autism and Autism Spectrum Disorders,
according to an analysis by the Centers for Disease Control is
estimated to affect 1 in every 88 children in the U.S. Similar
studies conducted in other countries, for instance the UK National
Health Service estimates the prevalence of Autism Spectrum disorders
among adults in England is approximately one percent in 2012. The
economic cost associated with Autism in the U.S. and U.K. is
estimated to be approximately USD 35 billion and USD 45 billion (£27
billion) respectively each year.
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Prevalence of other prominent diseases such as multiple sclerosis,
narcolepsy and sleep disorders and strokes among others accounted for
400,000, 14.3 million and 4,700,000 individuals respectively between
2001 and 2014. With such a growing population of neurological
disorders across the globe the market for neurodiagnostics will
positively emerge out as a prospecting and lucrative market in coming
years. Diagnosis of these neurological disorders is rapidly changing
as new tools now a day developed are coming up with the sole
intention of rendering personalized assessment and treatment.
In general the market for neurodiagnostics can be segmented on the
basis of nuroimaging techniques, in-vitro diagnostic techniques and
disease type. The market for neuroimaging techniques can be further
sub-segmented into electro-encephalography, nuclear medicine imaging
(pet), magneto-encephalography, and computed tomography among others.
Whereas, market for in-vitro diagnostic include protein biomarker
assay and genetic testing and pharmacogenomics among others.
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The commonly occurring disease type encompasses attention disorder,
Alzheimer's, anxiety disorder, schizophrenia, depression, epilepsy,
Parkinson's disease, sensory disorders, and sleep disorders among
others. Major drivers for the neurodiagnostics market comprises
advances in diagnostic equipments, developments in biomarker assay
techniques and increasing use of imaging techniques in drug
development. Growing trend of cloud computing based EEG devices which
can store all the diagnosis report, medication schedules and sharing
of real time analysis with patients as well as other physicians is
likely to uplift the neurodiagnostics market in coming years.
The lack of regular diagnosis and mental health check up not in
developing and emerging economies but even in developed parts of the
world is one of the prominent and major restraints to the
neurodiagnostics market. There are still millions of people who are
yet undiagnosed and a large chunk of the affected population are
carrying them for more than 5 years.
Some of the prominent players in the neurological disorders include
Neuro Diagnostic Devices, Inc., Lifelines Neurodiagnostics Systems
Inc., Zynex NeuroDiagnostics, Digital NeuroDiagnostics, LLC, Ridge
Diagnostics among others.
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