Press Release

Utilization of Artificial Intelligence in Neurology Care to Transform its Global Market

The Global Artificial Intelligence in Neurology Market is valued at around USD 48 million in 2023 and is estimated to grow at a CAGR of about 46% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market is being propelled by several key factors, including the increasing complexity of clinical decision-making, challenges in surgical procedures involving the differentiation of tumor tissues from healthy ones, the rapid expansion of Healthcare Information Technology (HCIT), and a growing focus on patient-centric care.

The industry has witnessed substantial investments from various market players who have collaborated with healthcare facilities to offer AI-based solutions for treating high-risk patients. This trend is expected to continue, further driving the growth & creating lucrative opportunities for the industry in the coming years. The rising prevalence of neurological diseases worldwide, driven by exposure to environmental toxins like lead, mercury, and pesticides due to escalating pollution levels, underscores the need for Artificial Intelligence (AI) in the market.

As neurological disorders continue to rise, there is an ever-increasing demand for accurate clinical diagnosis & treatment. This demand necessitates the usage of AI to interpret patient data, supporting healthcare professionals in delivering effective treatments for these conditions, further states the research report, “Global Artificial Intelligence in Neurology Market Analysis, 2024.”

Global Artificial Intelligence in Neurology Market Segmentation Analysis

Growing Demand for Software-as-a-Service (SaaS) in AI Neurology to Upscale the Market Expansion

Based on the Component segment, the market is further bifurcated into Hardware and Software-as-a-Service. This depicts the substantial growth in the AI in Neurology Market. The growing demand for AI-driven software applications and cloud-based solutions is a direct result of technological advancements in proteomics, MRI, and CT scanning, which have greatly improved the accuracy of disease detection & analysis in medical imaging of patients.

Additionally, the healthcare industry is experiencing a rising demand for advanced software solutions that can enhance efficiency and security in healthcare devices. Hence, these solutions contribute to real-time decision-making, further solidifying the projected growth in demand for Software-based AI platforms in the coming years.

North America to Dominate the Global Market

North America is poised to take the lead in the Global Artificial Intelligence in Neurology Market throughout the forecast period. North America has a history of early adoption of cutting-edge healthcare technologies and boasts a robust ecosystem of leading market players headquartered in the US. The region is witnessing a surge in healthcare start-ups and substantial investments in Healthcare Information Technology (HCIT), aiming to develop novel therapies, further bolstering the North America Artificial Intelligence in Neurology Market.

Within the region, the United States stands out as the dominant player in the market. This is primarily due to the rapid integration of AI across various healthcare applications in the country, driven by the numerous benefits it offers.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including ActivSurgical Inc., Brainomix Limited, Caresyntax Corp, Neosama Inc. ExplORer Surgical Corp., Surgalign Spine Technology Inc., LeanTaaS Inc., Medtronic Plc, Scalpel Limited, Theator Inc., and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Global Artificial Intelligence in Neurology Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition been shaping across various region?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?