Global AI in Neurology Market, By Indication (Neuro-technology, Neurosurgery), Application (Screening & Diagnosis, Treatment, Research & Development, Training, Surgical Planning and Rehabilitation, Others), Type (Oncology, Neurodegeneration, Neurovascular, Traumatic Brain Injury, Spinal Cord Injury), Technology (Machine Learning and Deep Learning, Natural Language Processing [NLP], Others), Components (Hardware, Software-as-a-Service[SaaS]), End-User (Hospitals, Diagnosis Centers, Others) - Industry Trends and Forecast to 2031.
AI in Neurology Market Analysis and Size
AI can help improve the diagnosis and detection of brain tumors and other neurological cancers with high accuracy and consistency. Studies show that optical imaging and deep convolutional neural networks (CNNs) can be used to accurately predict brain tumors in less than 150 seconds. AI can also help overcome current industry challenges in the field of neurology by enabling higher efficiency, accuracy, and better patient care. In addition, AI can simulate and access in-depth data about the process of impulse formation and transfer throughout the body, which can help neurologists provide personalized treatments.
Data Bridge Market Research analyzes that the global AI in neurology market, which was USD 48.00 million in 2023, is likely to reach USD 716.52 million by 2031 and is expected to undergo a CAGR of 40.2% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016-2021)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
By Indication (Neuro-technology, Neurosurgery), Application (Screening & Diagnosis, Treatment, Research & Development, Training, Surgical Planning and Rehabilitation, Others), Type (Oncology, Neurodegeneration, Neurovascular, Traumatic Brain Injury, Spinal Cord Injury), Technology (Machine Learning and Deep Learning, Natural Language Processing [NLP], Others), Components (Hardware, Software-as-a-Service[SaaS]), End-User (Hospitals, Diagnosis Centers, Others)
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
|
|
Market Players Covered
|
ActivSurgical Inc. (U.S.), Brainomix Limited (U.K.), Caresyntax Corp (U.S.), Neosama Inc. (Israel), ExplORer Surgical Corp. (U.S.), Surgalign Spine Technology Inc. (U.S.), LeanTaaS Inc. (U.S.), Medtronic Plc (Ireland), Scalpel Limited (U.K.), and Theator Inc. (U.S.)
|
|
Market Opportunities
|
|
Market Definition
The AI (Artificial Intelligence) in neurology market is the application of artificial intelligence and machine learning technologies in the field of neurology. This market encompasses the development and utilization of AI tools, software, and hardware solutions that assist healthcare professionals, particularly neurologists and neurosurgeons, in diagnosing, treating, and managing neurological conditions. AI in neurology involves the use of advanced algorithms, neural networks, and computational techniques to analyze and interpret complex neurological data, such as brain imaging scans, patient records, and clinical data, to improve patient care and outcomes.
Global AI in Neurology Market Dynamics
Drivers
- Increased data availability0
With the growing use of digital healthcare records, medical imaging, and wearable devices, there is a vast amount of neurological data available. AI can efficiently process and analyze this data, making it an attractive tool for neurologists and researchers to gain insights into neurological conditions. This data-driven approach can lead to more accurate diagnoses and treatment recommendations.
- Shortage of neurologists
Many regions face a shortage of neurologists, which can lead to delayed diagnoses and treatment for patients with neurological disorders. AI tools can help bridge this gap by providing decision support to healthcare professionals, enabling them to make quicker and more informed decisions. This can be particularly important in emergency cases like strokes, where timely intervention is critical.
Opportunity
- Advancements in AI algorithms
The development of advanced machine learning and deep learning algorithms has significantly improved the accuracy and capabilities of AI systems in diagnosing and managing neurological conditions. These algorithms can detect subtle patterns in medical images, genomics data, and clinical records that may be challenging for humans to identify.
Restraint/Challenge
- Interoperability Challenges
Integrating AI systems with existing electronic health record (EHR) systems and hospital infrastructure can be challenging. Achieving seamless interoperability is essential for the effective use of AI in neurology, but compatibility issues and data exchange standards can be restraints.
Recent Developments
- In 2023, Surgalign Spine Technologies, Inc. announced the release of Holo AI insights for neurovascular research to automatically segment medical images, measure anatomic structures, automate pedicle screw planning, and perform other tasks
- In 2022, Neosoma Inc. announced to received FDA clearance for its first AI-based Neuro-Oncology Software, Neosoma HGG (High-Grade Glioma)
Global AI in Neurology Market Scope
The AI in neurology market is segmented on the basis of indication, application, type, technology, components, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Indication
- Neuro-technology
- Neurosurgery
Application
- Screening & Diagnosis
- Treatment
- Research & Development
- Training
- Surgical Planning and Rehabilitation
- Others
Type
- Oncology
- Neurodegeneration
- Neurovascular
- Traumatic Brain Injury
- Spinal Cord Injury
Technology
- Machine Learning and Deep Learning
- Natural Language Processing [NLP]
- Others
End User
- Hospitals
- Diagnosis Centers
- Others
Global AI in Neurology Market Regional Analysis/Insights
The AI in neurology market is analyzed and market size insights and trends are provided by country, indication, application, type, technology, components, and end user as referenced above.
The countries covered in the AI in neurology market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to the presence of advanced healthcare infrastructure.
Asia-Pacific is expected to grow during the forecast period due to surge in regional investments.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The AI in neurology market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the AI in neurology market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the AI in neurology market.
Competitive Landscape and AI in Neurology Market Share Analysis
The AI in neurology market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the AI in neurology market.
Some of the major players operating in the AI in neurology market are:
- ActivSurgical Inc. (U.S.)
- Brainomix Limited (U.K.)
- Caresyntax Corp (U.S.)
- Neosama Inc. (Israel)
- ExplORer Surgical Corp. (U.S.)
- Surgalign Spine Technology Inc. (U.S.)
- LeanTaaS Inc. (U.S.)
- Medtronic Plc (Ireland)
- Scalpel Limited (U.K.)
- Theator Inc. (U.S.)
SKU-