Market Size of Neurophotonics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Neurophotonics Market Analysis
The Neurophotonics Market is expected to register a CAGR of 11%, during the forecast period 2019-2024."Neurophotonics is an exploding field that spans the intersection of light and neurons for fundamental discovery and clinical translation."
- With the increased funding for extensive research and development in this field is one of the major factor driving the market. For instance, the United Nations have started a, Brain Research through Advancing Innovative Neurotechnologies (BRAIN) Initiative in 2014, which aims to understandthe inner workings of the human mind and NIHhasissued multipleinvestments. Such initiatives by the government have a positive outlook on the market.
- Moreover, another area where neurophotonics isexpected to have a tremendous opportunity in the future is the ability to detect pain.According to the US Department of Health and Human Services in 2018, around 18 % of the survey respondents said they had visited a health care professional in the past year for lower back pain. Although a series of research is needed to happen. If succeded, it will provide an immense opportunity to the market.
- However,accessing the human brain in live individuals is difficult using optical means, and recent research in neuroimmunology presents a potential vehicle for probing the brain.
Neurophotonics Industry Segmentation
Neurophotonics is a field that spans the intersection of light and neurons for fundamental discovery and clinical translation. The field employs a range of optical methodologies, from microscopies to spectroscopies, to achieve a multiscale understanding of the structure and function of healthy and diseased brain as well as the nervous system. The scope of this report is limited to North America, Europe, Asia-Pacific, and Rest of World.
| By System Type | |
| Microscopy | |
| Spectroscopy | |
| Multimodal | |
| Other System Type |
| By Application | |
| Research | |
| Diagnostics | |
| Therapeutics |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of World |
Neurophotonics Market Size Summary
The neurophotonics market is experiencing significant growth, driven by increased funding and research initiatives aimed at understanding the brain's complexities and developing clinical applications. This field, which merges light and neuronal studies, is gaining traction due to government-backed programs like the BRAIN Initiative, which focuses on advancing neurotechnologies. The market is poised for expansion as researchers explore innovative applications, such as pain detection and treatment, leveraging optical techniques to interface with the nervous system. Institutions like the Boston University Neurophotonics Center are at the forefront, conducting research on conditions like Alzheimer's and autism, and offering training programs that foster further exploration in this domain. Publications and initiatives are raising awareness about the potential of neurophotonics, contributing to a positive market outlook.
North America dominates the neurophotonics market, supported by a robust medical devices industry and numerous research laboratories. The region benefits from substantial investments in research and development, with initiatives like "BRAIN 2025" aiming to enhance understanding of brain cell types. The market is still in its nascent stages, with key players such as Hitachi, Ltd., Artinis Medical Systems, and Cairn Research actively participating in advancements. Recent developments include innovative technologies for brain stimulation and diagnostic tools for autism spectrum disorder, highlighting the market's potential. As research progresses, the neurophotonics market is expected to grow, offering new opportunities for diagnosis and therapy.
Neurophotonics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Government Initiative for Research and Development
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1.2.2 Technological Advancement in Pain Detection Technology
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1.3 Market Restraints
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1.3.1 Accessing the Human Brain in Live Individuals is Difficult
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1.4 Industry Value Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By System Type
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2.1.1 Microscopy
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2.1.2 Spectroscopy
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2.1.3 Multimodal
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2.1.4 Other System Type
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2.2 By Application
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2.2.1 Research
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2.2.2 Diagnostics
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2.2.3 Therapeutics
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 Rest of World
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Neurophotonics Market Size FAQs
What is the current Neurophotonics Market size?
The Neurophotonics Market is projected to register a CAGR of 11% during the forecast period (2024-2029)
Who are the key players in Neurophotonics Market?
Cairn Research, Artinis Medical Systems, Hitachi, Ltd., Femtonics Ltd and Carl Zeiss AG are the major companies operating in the Neurophotonics Market.
