MARKET ANALYSIS
Neurology is the branch of medicine concerned with the examination and analysis of disorders of the nervous system. The nervous system is a complex; practical that regulates and coordinates body activities and it has two major divisions’ central nervous system and peripheral nervous system including their coverings, blood vessels, and all effector tissue, such as muscle. The doctor who specialized in neurology is known as neurologist. The neurologist trained to investigate, or diagnose and treat a neurological disorder that affects the brain, spinal cord, and nerves. Neurologists do not perform surgery if any patient requires surgery they refer to neurosurgeons. Many neurologists also have other training or interest in areas of neurology, such as stroke, epilepsy, neuromuscular, sleep medicine, pain management, or movement disorders. In some times neurologists may order some additional diagnostic test like imaging studies such as computed axial tomography (CAT) scans, magnetic resonance imaging (MRI), and ultrasound of major blood vessels of the head and neck.
Neurology today holds a position in the various medical centres of the world which varies from complete nonexistence to high and complex development. Invasion of the field of neurology by different types of clinicians, the rapid development of psychiatry, the late appearance of neurosurgery and the important recent advances in neurophysiology and neuro-anatomy, all help to account for this variability and demand a reconsideration of the scope of neurology. A survey of neurology, neurosurgery and neuropathology as they are to be found in various centres of learning today supports this view. From the time that neurology first emerged as a specialty, it has suffered a progressive reduction in scope.
The global neuroscience market size was valued at USD 28.42 billion in 2016 and is expected to grow at a CAGR of 3.1% over the forecast period. High influencing factors, such as on-going brain mapping research and investigation projects, neuroscience-based initiatives by government bodies, and technological advances in tools and algorithms that are implemented in neuroscience space, are expected to propel the market growth.
North America captured the largest share in 2016 as regional market. Key factors that are attributed to this large share are presence of a substantial number of neuroscience-based research entities, funding by government & other organizations, and availability of well-developed healthcare systems along with rising prevalence of neurological disorders in the region. With compare to China and Japan, Asia Pacific is expected to emerge as the fastest growing regional market owing to the owing to constantly improving healthcare system and presence of significant target population in the region.
