Neurology Services Market Size

The global neurology services market size was valued at $2.59 billion in 2024 and is projected to reach $3.71 billion by 2030, growing at a CAGR of 6.2% during the forecast period.

Neurology Services Market Overview

Neurology services focus on diagnosing and treating disorders related to the nervous system, which includes the brain, spinal cord, and peripheral nerves. Neurologists, the specialists in this field, assess a wide range of conditions such as stroke, epilepsy, Parkinson's disease, and various types of headaches. They conduct comprehensive evaluations that often involve detailed patient histories, neurological examinations, and diagnostic tests like MRI and EEG to understand the underlying issues affecting the nervous system. 

Companies can benefit from neurology services in several ways. By providing access to neurological care through employee health plans, they can enhance workforce health and productivity, ultimately leading to reduced absenteeism and improved job performance. Additionally, neurologists can assist in occupational health assessments, ensuring that employees who experience neurological symptoms receive appropriate care and support. Furthermore, partnerships with neurologists for clinical research can drive innovation in health-related products and therapies, while consulting services can guide companies in developing effective health programs and interventions tailored to their workforce's needs.

Neurology Services Market Dynamics

The neurology services market is expected to witness significant growth in the future due to increasing prevalence of neurological disorders globally, advancements in neuroimaging and diagnostic technologies, and growing aging population susceptible to neurological conditions. However, the high costs associated with developing clinical trials, limited access to specialized neurological care in certain regions, and shortage of trained healthcare professionals in neurology are restraining the growth of the market.

Furthermore, growth of telemedicine for remote consultations, increasing awareness for neurological health, and the development of personalized medicine are the key trends propelling the neurology services market.

Increasing Prevalence of Neurological Disorders Globally is driving the Neurology Services Market

The increasing prevalence of neurological disorders globally is significantly impacting the neurology services market by driving demand for enhanced diagnostic, therapeutic, and monitoring services. 

• For instance, a report published in oThe Lancet Neurology' highlighted that over 3 billion people are affected by neurological conditions, marking an 18% increase in disability and illness since 1990, which underscores the urgent need for improved healthcare access and interventions.

This rising burden has prompted various initiatives, including the Intersectoral Global Action Plan on Epilepsy and Other Neurological Disorders 2022-2031, adopted by the World Health Assembly, aimed at prioritizing neurological health worldwide. Companies are responding to this growing demand with innovative product launches.

• For example, in March 2018, Nihon Kohden introduced the aireeg WEE-1200, a wireless EEG system designed for real-time data collection during long-term epilepsy monitoring. Furthermore, Masimo received CE Mark approval in March 2019 for its SedLine brain function monitor, which assesses brain function in pediatric patients under anesthesia. 

This trend emphasizes the critical need for healthcare systems to adapt and expand their neurology services to meet the increasing demand effectively.

By Service Provider, the Hospitals Segment is projected to be the Largest Segment in the Neurology Services Market

The hospitals segment emerges as the largest segment in the neurology services market during the forecast period due to the increasing prevalence of neurological disorders such as stroke, epilepsy, Alzheimer's disease, and multiple sclerosis. Factors contributing to this growth include an aging population, which is more susceptible to conditions such as Alzheimer's and Parkinson's disease, alongside lifestyle changes that have led to a rise in neurological issues like migraines and depression. 

• According to the Parkinson's Foundation, the number of people with Parkinson's disease in the United States is projected to rise to about 1.2 million by 2030, up from the current estimate of 1 million, as the population continues to age.

Additionally, hospitals are equipped with sophisticated imaging and surgical equipment essential for accurate diagnosis and effective intervention, further driving the demand for neurology services. The integration of multidisciplinary teams within hospitals allows for holistic patient management, enhancing the overall care quality and contributing to the growing reliance on hospital-based neurology services. Furthermore, the integration of advanced neuroimaging techniques and minimally invasive surgical options has enhanced diagnostic and treatment capabilities, making neurology services more effective and accessible. Companies are also responding to this growing demand with innovative product launches.

• For example, in March 2024, Nihon Kohden introduced the aireeg WEE-1200, a wireless EEG system designed for real-time data collection during long-term epilepsy monitoring in hospitals.

These factors collectively contribute to a robust demand for neurology services in the hospital segment, underscoring the critical need for enhanced healthcare strategies to meet the challenges posed by neurological disorders globally.

By Geography, North America Holds the Dominant Position in the Market Revenue

North America maintains a commanding lead in market revenue due to the increasing prevalence of neurological disorders and the aging population. As of 2022, the U.S. held approximately 89.1% of the North American neurology services market, reflecting its significant role in this sector. 

• The Alzheimer's Association reported that around 6.2 million Americans aged 65 and older were living with Alzheimer's-related dementia in 2021, a number projected to rise to 13.8 million by 2060, highlighting the urgent need for specialized neurological care.

Additionally, advancements in medical technology, such as neuroimaging techniques and minimally invasive surgeries, have improved diagnostic accuracy and treatment efficacy, further fueling market growth. 

• For example, in March 2024, AppliedVR launched a new virtual reality platform aimed at providing therapeutic experiences for patients with chronic pain and anxiety, showcasing innovative approaches to neurological health. 

Furthermore, government initiatives, such as the Intersectoral Global Action Plan on Epilepsy and Other Neurological Disorders 2022-2031, emphasize the importance of addressing neurological health on a broader scale. These factors collectively contribute to a robust demand for neurology services, with the market projected to grow at a faster pace during the forecast period, underscoring the critical need for enhanced healthcare strategies to meet the challenges posed by neurological disorders in North America.

Key Target Audience:

• Neurologists and Neurosurgeons

• Hospitals and Clinics

• Medical Device Manufacturers

• Pharmaceutical Companies

• Patients and Caregivers

• Insurance Companies

• Health Policymakers

• Research Institutions

List of the Key Players Profiled in the Report Includes: 

• Advanced MD

• Akili Labs

• AppliedVR

• Aural Analytics

• BehaVR

• BetterHelp

• Big Health

• Blackrock Neurotech

• Neofect

• Omada Health

• Proteus Digital Health

• Teladoc

Recent Developments:

• In May 2024, AppliedVR announced the launch of its new virtual reality platform aimed at providing immersive therapeutic experiences for patients with chronic pain and anxiety disorders. This initiative is part of a broader effort to integrate VR technology into standard neurological care practices, enhancing patient engagement and treatment outcomes.

• In April 2024, Aural Analytics released a new version of its speech analytics platform, which uses voice biomarkers to monitor neurological health. This update aims to improve the early detection of neurodegenerative diseases and enhance patient monitoring capabilities for healthcare providers.

• In March 2024, BehaVR launched a new virtual reality program targeting mental health and neurological rehabilitation. This program is designed to support patients recovering from strokes and traumatic brain injuries, providing immersive therapeutic experiences to aid in cognitive recovery.

• In January 2024, Big Health reported the successful integration of its digital therapeutic solutions into several healthcare systems, focusing on insomnia and anxiety management. The company emphasized the importance of addressing mental health issues that often accompany neurological disorders.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Service: 

• Therapeutics Service

• Surgical Service

• Monitoring Service

• Diagnostic Service

Market by, Neurological Disease: 

• Stroke

• Psychotic Disorder

• Multiple Sclerosis

• Mental Health

• Dementia

• Concussion

• Attention-deficit/Hyperactivity Disorder (ADHD)

• Other Neurological Diseases

Market by, Service Provider:

• Academic and Research Institutes

• Clinics

• Hospitals

• Neurofeedback Clinics

• Neurorehabilitation Centers

Market by, Geography:

The neurology services market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:

The report oGlobal Neurology Services Market: Industry Analysis, Opportunities and Forecast up to 2030o by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.

• Analysis of the market structure by identifying various segments and sub-segments of the market.

• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.

• Understand major player profiles in the market and analyze their business strategies.

• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.