Neurology Software Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Neuroimaging Software and Neurology EMR or EHR Software), By Mode of Delivery (Web-Based, Cloud-Based, and On-Premises), By Organization Size (Large Organization and Small and medium Organization), By End User (Hospitals and Clinics, Research Institutes and Academics, and Others), and Region Forecast 2019-2030

Neurology Software Market size was valued at US$ 29,736.5 Million in 2023 and is anticipated to grow at a CAGR of 16.2% from 2024-2030. Neurology software is a specialized software solution used in the medical field designed to help Neurologists and Neurosurgeons manage their workforce efficiently and effectively. This software offers a diverse range of features and functionalities to streamline various aspects of workforce management within a neurology hospital. The rising incidence of neurological disorders is a significant driver for the revenues of the market. As global populations grow and age, the prevalence of neurological disorders increases.

For instance, according to Parkinson's Foundation, approximately 90,000 people in the U.S. are diagnosed with Parkinson's disease annually. This rising burden of disease necessitates the effective management of patients globally. Neurology software including, neurology EMR or EHR software serves as an ideal solution to achieve this need as this software enables neurologists to run their neurology practice effectively. This software offers features such as electronic medical records (EMR/EHR), practice management, medical billing, patient engagement, patient portals, remote patient monitoring, and more, which can improve the patient’s overall outcome and in turn drive the market growth.

In addition, advancements in medical imaging are another factor driving the increased demand for neurology software. As the development of robust neuroimaging technologies including CT scans, PET scans, MRI, PET-CT scans, and others increases, the need for effective analysis and interpretation of complex neurological data surges. The neurology software including neuroimaging software that offers advanced solutions to study the structure and function of the brain stands out as an excellent option to fulfil the need. Some of the examples of the neuroimaging software includes 3D Slicer, Analysis of Functional NeuroImages (AFNI), CamBA, Spinal Cord Toolbox, and others.

However, the high cost of neurology software is a potential restraint to the market growth. Meanwhile, the aging population across the globe and increasing healthcare expenditure can create significant opportunities for the growth of the market over the forecasted years. The key players in the market are further contributing to the development of the market by announcing launches, collaborations, and acquisitions. For example, in May 2022, athenahealth, Inc. partnered with Raleigh Neurology Associates to leverage athenaOne to deliver superior provider and patient experiences.

Key Developments

• In April 2023, TeraRecon launched an artificial intelligence (AI)-driven software, Neuro Suite to access and monitor patients with neurological disorders.
• In May 2022, Blackrock Neurotech acquired spatial computing software firm MindX to increase the development of technologically advanced brain-computer interface products.