Digital Health In Neurology Market To Reach $131.3 Billion By 2030

Digital Health In Neurology Market Growth & Trends

The global digital health in neurology market size is expected to reach USD 131.3 billion by 2030 and is expected to expand at a CAGR of 22.5% over the forecast period, according to a new report by Grand View Research, Inc. The advancements in internet connectivity, increasing mobile penetration, evolving IT infrastructure, growing healthcare IT expenditure, increasing burden of neurological disorders, rising demand for remote patient monitoring services, and growing accessibility of virtual care services are bolstering the growth.

Furthermore, the market is driven by increasing collaborations between the market players and government organizations to accelerate digital health applications in the neurology sector. For instance, in January 2024, the National Institutes of Health (NIH) selected Actuated Medical, Inc. as a Contract Research Organization (CRO) for the NIH Blueprint MedTech (BPMT) initiative to develop neurology technological solutions. The company was granted a fund of around USD 35 million for approximately five years for solution development.

Furthermore, the market players are promoting the application of digital technology in neurological research and launching digital technological solutions to enhance neurology treatments. For instance, in February 2024, the National Institute of Neurological Disorders and Stroke (NINDS) used high-resolution magnetic resonance imaging (MRI) and discovered new direct links between the brain and its surrounding matter. Furthermore, in September 2023, PathMaker Neurosystems Inc. announced the initiation of the first-in-human clinical trial to evaluate its MyoRegulator device to treat amyotrophic lateral sclerosis (ALS).

In addition, the increasing burden of neurological disorders and the growing geriatric population prone to neurological diseases are contributing to the need for advanced technological solutions for neurology treatment. According to the Alzheimer's Association, in 2023, in the U.S., approximately 6.7 million people aged over 65 years were diagnosed with Alzheimer's. Furthermore, according to the Global Cancer Observatory, in 2022, the brain and central nervous system (CNS) cancer had a prevalence of 1.20 billion cases during 2018 - 2022.

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Digital Health In Neurology Market Report Highlights

• The market is anticipated to be valued at USD 131.3 billion by 2030, owing to the increasing burden of neurological diseases, growing remote patient monitoring services, and integration of digital technology with healthcare solutions

• By component, the services segment dominated the global market with the largest revenue share in 2023, owing to the growing demand for pre-installation and post-installation services, project planning, maintenance, and training

• Based on the end use, the patient segment held the largest market share in 2023 and is expected to witness the fastest growth over the forecast period. The growth is attributable to the growing transition towards patient-centered care and the empowerment of individuals in managing their health

• North America dominated the market in 2023, owing to the rapidly developing healthcare IT infrastructure, increased initiatives by the market players, favorable government initiatives, and improved technological literacy

Digital Health In Neurology Market Segmentation

Grand View Research, Inc. has segmented the global digital health in neurology market report based on component, end-use, and region:

Digital Health In Neurology Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software

• Hardware

• Services

Digital Health In Neurology End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Patients

• Providers

• Payers

• Others

Digital Health In Neurology Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Denmark

  • Norway

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Singapore

• Latin America

  • Brazil

  • Mexico

  • Argentina

• MEA

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players in the Digital Health In Neurology Market

• Neofect

• Teladoc

• Proteus Digital Health

• Akili Labs

• AppliedVR

• Aural Analytics

• BehaVR

• BetterHelp

• Big Health

• Omada Health

• Blackrock Neurotech

• AdvancedMD