According to MarkNtel Advisors’ research report, the Global Artificial Intelligence in Neurology Market is expected to witness around 41% CAGR during the forecast period, i.e., 2021-26. The market growth attributes principally to the growing prevalence of neurological dysfunctions like strokes, seizures, & dementia and technological advancements like Big Data analysis, predictive analysis through AI, etc., in the healthcare sector to cater to mounting neurological issues.
Besides, the rising number of AI-based diagnostic startups in the healthcare sector and mounting investments by market players to develop modern & advanced technologies for better & quicker patient outcomes shall also drive the market in the coming years.
Demand for Machine Learning in Neurology to Witness Significant Growth Throughout 2026
Neuro ICUs frequently suffer from the complications involved while managing each patient's data. Constant monitoring of several physiological indicators, frequent imaging, routine lab tests & neurological evaluations, etc., are a part of each patient with neurological disorders. These processes accumulate enormous volumes of data for each patient. Machine Learning (ML) algorithms can help analyze these large datasets, which, for healthcare professionals, is very challenging to understand. Therefore, the application of ML in neurology is remarkably easing the stress of interpreting big datasets and, in turn, contributing to the overall market growth.
ML uses large & diverse datasets to identify previously unknown patterns & associations, which has led to the improved prediction accuracy of patient outcomes. Hence, due to these benefits, the demand for ML is likely to grow significantly in neuro ICUs for rapid data interpretation & enabling better clinical decisions.
North America to Dominate the Global Artificial Intelligence in Neurology Market Through 2026
North America is one of the very first regions to adopt modern healthcare technologies. It is projected to lead the market with the largest share in the coming years, mainly due to the strong presence of industry leaders in the region. Besides, emerging start-ups & increasing investments in developing advanced therapies integrated with AI shall also drive the regional market.
Moreover, rapid advancements & adoption of AI and its application across the healthcare sector to reduce medical errors & improve recovery time are other crucial aspects likely to fuel the market growth across North America, reveals MarkNtel Advisors in their research report, "Global Artificial Intelligence in Neurology Market Analysis, 2021."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Artificial Intelligence in Neurology Market are ActivSurgical Inc., Brainomix Limited, Caresyntax Corp, DeepOR S.A.S, ExplORer Surgical Corp., Holo Surgical Inc., LeanTaaS Inc., Medtronic Plc, Scalpel Limited, and Theator Inc.
Key Questions Answered in the Study