Digital Health in Neurology Market
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Digital Health in Neurology Market was valued at around USD 34.3 billion in 2023 and is anticipated to register a CAGR of over 19% between 2024 and 2032. Digital health in neurology refers to the application of digital technologies such as telemedicine, mobile health apps, wearable medical devices, and data analytics to enhance the diagnosis, treatment, and management of neurological disorders. It encompasses a wide range of software, hardware, and online platforms designed to improve access to neurological care, monitor patient health remotely, support clinical decision-making, and empower patients to actively participate in their treatment. The increasing prevalence of neurological disorders has emerged as a significant driver for the market growth.
For instance, according to the World Federation of Neurology, in 2023, neurological disorders ranked as the second leading cause of death and the primary cause of disability globally. Moreover, as per estimates over 40% of the world's population currently experiences some form of neurological condition. This burden is anticipated to nearly double by the year 2050. Therefore, there is a growing market demand for innovative solutions and advancements in neurology to meet the increasing prevalence and complexity of neurological disorders.
Furthermore, the expanding integration of digital technology in neurological care, the rising inclination towards leveraging artificial intelligence in healthcare (AI), the internet of things (IoT), and big data, and the increasing uptake of mobile health applications and technologies among other contributing factors are expected to propel the growth of the market in the forthcoming years.
Report Attribute | Details |
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Base Year: | 2023 |
Digital Health in Neurology Market Size in 2023: | USD 34.3 Billion |
Forecast Period: | 2024 to 2032 |
Forecast Period 2023 - 2032 CAGR: | 19 |
2023 Value Projection: | USD 160.6 Billion |
Historical Data for: | 2018 – 2023 |
No of Pages: | 190 |
Tables, Charts & Figures: | 219 |
Segments Covered: | Component, Indication, End-use, and Region |
Growth Drivers: |
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Pitfalls Challenges: |
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The incorporation of digital technology into the realm of neurology care has ushered in a transformative era in healthcare. This paradigm shift is marked by the adoption of innovative digital tools and platforms that are revolutionizing the way neurological services are delivered and experienced. Through the seamless integration of digital solutions such as telemedicine (estimated to reach 244.21 billion by 2032), wearable devices, and artificial intelligence the field of neurology is witnessing a profound evolution towards more patient-centric and data-driven approaches to care.
Based on component, the market is segmented into software, hardware, and services. The software segment is estimated to surpass USD 63.3 billion by 2032.
Based on indication, the market is segmented into Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, epilepsy, and other indications. The Alzheimer’s disease segment accounted for USD 11.1 billion in 2023.
Based on end-use, the market is segmented into patients, providers, payers, and other end-users. The patients segment is estimated to account for USD 58.1 billion revenue size by 2032.
In 2023, North America held a significant market size of 13.9 billion in 2023 and is predicted to witness substantial market growth over the analysis timeline.
The digital health in neurology industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products and services based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market. Collaboration between healthcare providers, technology developers, and researchers fosters continuous advancement, promising improved outcomes, and quality of life for patients.
Some of the eminent market participants operating in the digital health in neurology industry include:
Market, By Component
Market, By Indication
Market, By End-use
The above information is provided for the following regions and countries:
Market size for digital health in neurology was worth USD 34.3 billion in revenue in 2023 and is estimated to surpass USD 160.6 billion by 2032 owing to the increasing prevalence of neurological disorders worldwide.
Digital health in neurology market from the software segment is poised to record USD 63.3 billion by 2032 as software solutions facilitate the efficient organization and management of extensive patient data, encompassing electronic health records, test results, and imaging studies.
North America industry size was 13.9 billion in 2023 and is set to exhibit robust growth through 2032 owing to the presence of a robust technological infrastructure and dynamic healthcare ecosystem across the region.
Some of the top companies involved in the market are AdvancedMD, Inc., Akili, Inc., AppliedVR, Inc., BigHealth, Blackrock, Neurotech, Cognivive, Inc., Neofect Co, Ltd., Omada Health Inc., Proteus Digital Health, Inc., and Teladoc Health, Inc.