Cognitive Neuroscience Market size is predicted to cross USD 62 Billion by the end of 2035, witnessing around 6% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of cognitive neuroscience was USD 34 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.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 34 Billion |
|
Forecast Year Market Size (2035) |
~ USD 62 Billion |
|
Regional Scope |
|
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 2035. 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 2035. 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 |
|
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 2035. 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 2035. 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.
Author Credits: Radhika Gupta, Shivam Bhutani
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?