Neuroscience Market size is estimated to be valued at USD 31,376.3 Million in 2021 and is poised to grow at a significant CAGR of 4.1% over 2022-2028. The scientific study of the brain and nervous system is referred to as neuroscience. It is an interdisciplinary science that collaborates with cellular and molecular biology, physiology, anatomy, and human behaviour and cognition. It focuses on the structure of the brain as well as neurological, physical, and psychological functions. The Brain Imaging segment is anticipated to grow at a significant CAGR over the forecast years owing to rising incidence and prevalence of neurological disorders, increased awareness of neurodegenerative diseases, increased incidence of traumatic brain injuries, and increased applications of brain imaging and neuroimaging in clinical trials. Moreover, market players are focusing on the launch of new products, collaboration, and acquisition to maintain growth in the market. For instance, in July 2022: Inscopix, Inc. announced the Inscopix Data Exploration, Analysis and Sharing (IDEAS) Platform. This new platform helps Neuroscience research groups to enhance analyzing and organizing of Neuroscience data. Increased occurrences of neurological illnesses such as Alzheimer’s disease, Parkinson’s disease, and other dementias are expected to drive the Neuroscience Market throughout the projected period.
In December 2020 – Eli Lilly & Company, one of the leading pharmaceuticals companies, recently announced that it would purchase Prevail Therapeutics for $800 million in a pharmaceutical deal. Eli Lilly & Company will build a new drug discovery and development modality due to the acquisition agreement, which will expand the company’s research activities through a new gene therapy initiative.