Neurotechnology revenues near $150 billion, according to NeuroInsights

The global neurotechnology industry grew to a value of $149.8 billion in 2010, up 3.2% on the previous year, according to NeuroInsights’ seventh annual investment guide and market analysis of the global neurological disease and psychiatric illness markets.

“Overall, the industry continues to grow despite pressure on pharmaceutical prescriptions for chronic diseases due to the economic downturn and generic competition,” said Casey Lynch, managing director of NeuroInsights, noting that “neurodevice revenues, including innovative neurovascular and neuromodulation devices, continue to grow at double-digit rates. Neurodiagnostic revenues swung into positive territory again and large companies began to snatch up some of the smaller companies on the cutting edge of brain monitoring and diagnostic testing.”

Other findings from the Neurotechnology Industry 2011 Report show that, in 2010: