Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Cognitive Neuroscience Market size was valued at USD 38.77 billion in 2024 and is set to exceed USD 90.08 billion by 2037, registering over 6.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of cognitive neuroscience is evaluated at USD 40.85 billion.
This can be attributed to the growing incidence of mental disorders across the world. Owing to demographic changes mental health diseases are increasing worldwide, which as a result is likely to drive the market growth. According to the World Health Organization (WHO), around 970 million people worldwide, had a mental illness, with anxiety and depressive disorders being the most prevalent in 2019.
Moreover, the growing geriatric population is increasing the demand for cognitive neuroscience. The elderly population is more prone to age-related mental disorders such as dementia and the rising number of elderly populations across the globe is estimated to drive market growth. There are currently more than 700 million individuals who are 65 or older, and by 2050, that figure is expected to increase to around 1 billion.
Cognitive Neuroscience Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Health Spending – The increasing investment in healthcare sector is anticipated to result in the development of more efficient treatments. Based on the dataset OECD Health Statistics 2022, which was updated in November 2022, preliminary projections for a group of 20 nations indicate that health investment grew by roughly 6% on average in 2021.
- Increasing Prevalence of Lifestyle disorders – Lifestyle disorders can lead to memory loss, poor decision-making abilities, and a decrease in concentration. Therefore, the need for cognitive neuroscience for the treatment and diagnosis of such disorders has increased and thus driving the cognitive neuroscience market growth. According to the WHO, non-communicable diseases, and lifestyle illnesses are a subset—take the lives of over 40 million people each year.
- Growing Road Accidents – Road accidents are the main cause of traumatic brain injuries and a range of neurological and cognitive problems, and as the frequency of accidents is rising across the globe the market demand for cognitive neuroscience is more likely to increase. Around the world, traffic accidents claim the lives of over 1 million people annually and injure up to more than 45 million people.
Challenges
- Exorbitant Cost of Treatment- The treatment for neurological disorders requires advanced technologies such as functional magnetic resonance imaging, and positron emission tomography, which can be expensive to acquire and makes it inaccessible in developing regions.
- Lack of Access to Advanced Treatments in Developing Regions
- Lack of Awareness of Neurological Disorders
Cognitive Neuroscience Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.7% |
|
Base Year Market Size (2024) |
USD 38.77 billion |
|
Forecast Year Market Size (2037) |
USD 90.08 billion |
|
Regional Scope |
|
Cognitive Neuroscience Segmentation
Application (Brain Imaging, Neurological Research, Neurological Disorders, Psychiatry)
The neurological research segment in the cognitive neuroscience market is estimated to gain the largest revenue share of 40 % in the year 2037. The segment growth can be attributed to the growing investment in research in neuroscience including the development of new treatments, neurology devices, and diagnostic tools. Besides this, the availability of better treatments can be beneficial for both individuals and society.
Type (Magnetic Resonance Imaging (MRI), Functional Magnetic Resonance Imaging, Positron Emission Tomography)
Cognitive neuroscience market from the functional magnetic resonance imaging (fMRI) segment is expected to garner a substantial share in the year 2037. The growth of the segment is attributed to the growing prevalence of brain stroke and Alzheimer’s. Both illnesses involve alterations in brain structure and function, necessitating the use of diagnostic imaging technologies such as fMRI. For instance, non-invasive imaging methods such as functional magnetic resonance imaging (fMRI) can be used to measure changes in blood flow to various parts of the brain.
Our in-depth analysis of the global cognitive neuroscience market includes the following segments:
|
Type |
|
|
Application |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportCognitive Neuroscience Industry- Regional Synopsis
North America Market Statistics
The cognitive neuroscience market in North America is anticipated to hold the largest with a robust share of 35 % by the end of 2037. Market growth in the region is also expected on account of the growing cases of anxiety, and depression have resulted in an increased demand for cognitive neuroscience in the region. For instance, 4.91% are suffering from a serious psychological disorder in the United States. The frequency of adult mental disorders varies by state, ranging from 16.37% in New Jersey to 26.86% in Utah.
Asian Pacific Market Forecast
The Asian Pacific cognitive neuroscience market is estimated to be the second largest, registering a notable share by the end of 2037. The market’s expansion can be attributed majorly to the increasing cases of dementia in the region. Asia Pacific region is known to have the highest population living with dementia across the globe. As the population ages the cases of dementia are expected to rise, which in turn is expected to increase the demand for cognitive neuroscience in the region. For instance, cognitive neuroscience helps to prevent and treat dementia by providing insights into the neural mechanisms. In India, dementia is predicted to affect more than 11 million individuals by 2050, up from over 3 million in 2019.
Companies Dominating the Cognitive Neuroscience Market
- Judges Scientific Plc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Alpha Omega Inc.
- Laserglow Technologies
- Biobserve GmbH
- Medtronic Plc
- Abbot Laboratories
- Pear Therapeutics, Inc.
- Interim HealthCare Inc.
- Stryker Corporation
- Boston Scientific Corporation
In the News
- June 2020: Interim HealthCare Inc. introduced a free Dementia Caregiver's Guide to help family members care for a loved one with dementia or Alzheimer's disease. The Dementia Caregiver's Guide is expected provide assistance, excellent information, tools, and suggestions to the huge numbers of family members who selflessly devote their compassion, time, and resources to caring for loved ones with memory illnesses.
- February 2023: Medtronic plc, received CE mark for the Aurora EV-ICD MRI SureScan and Epsila EV MRI SureScan defibrillation lead. The Aurora EV-ICD system, offers an extravascular option while keeping the conventional ICD benefits of pacing and defibrillation therapy, and is considered by patients who are at risk of experiencing life-threatening arrhythmias.
Author Credits: Radhika Pawar
- Report ID: 3970
- Published Date: Nov 08, 2024
- Report Format: PDF, PPT
