Neurophotonics Market Size
| 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 Market Trends
This section covers the major market trends shaping the Neurophotonics Market according to our research experts:
Increasing Research Activities Offers Potential Growth
- With the investments in brain research, the neurophotonics field has made great strides in detecting disease toward improved diagnosis and therapy. For instance, the Boston University Neurophotonics Center is currently working on the scope for research and clinical applications of neurophotonics in Alzheimer's, autism, and stroke cases.
- Moreover, Boston University Neurophotonics Center has extended the scope for the public. This would provide an opportunity for different researches to explore the field. For instances, a five-year NRT program is running, which offers opportunities to take part in immersive, hands-on training and lab rotations and many seminars related to the neurophotonics. Such programs is expected to have a positive impact on the market.
- Additionally, Neurophotonics is a quarterly magazine published by Society of Photo-Optical Instrumentation Engineers with a collection of articles that lay out a vision for and provide examples of the impact that optics and photonics will have on advancing the understanding of how the brain works. This helps in creating awareness about the application of such a field, which is expected to have a positive outlook on the market.
- Further, another important research area is the detection of pain. According to WPP plc in 2018, about 21 % in Europe and 26 % of the adult population in the United States had been diagnosed with a pain condition. There is a lack of clear approach for detecting pain which becomes painful and costly for the citizens. Therefore, from the past few years has seen a rapid growth of interest in optical techniques for interfacing with the nervous system. Thus, the ability to thermally inhibit neural activity with high spatial precision has generated interest in using the technique to block pain signals.
- All the above factors are in the research phase, and if successful, it will provide an immense opportunity for the market.
North America Holds the Largest Market Share
- North America holds the largest market share for this market owing to the fact that North America is a home for many research laboratories. The United States medical devices industry is known for offering high-quality products using advanced technology resulting from significant investment in research and development.
- Moreover, with the initiative such as "BRAIN 2025," which is focusing on identifying and provide experimental access to the different brain cell types to understand their roles in health and disease.
- Additionally, in 2018 NIH established both a new BRAIN Initiative Working Group of the ACD and a BRAIN Initiative Neuroethics Subgroup to review recent scientific progress and propose updates to the BRAIN Initiative scientific and neuroethical strategic plans for the ACD’s consideration. They are responsible for holding multiple public workshops, and town halls to create awareness about the technology.
Neurophotonics Industry Overview
Neurophotonics market is at its early stage of development andthe companies are funding different organizations such asSPIE or Brain Research through Advancing Innovative Neurotechnologies (BRAIN) etc. Some of the key vendors areHitachi, Ltd,Artinis Medical Systems,Cairn Research,Femtonics Ltd andCarl Zeiss AG amongst others.Some recent development related to this market are:
- September 2019 -Researchers from the Institute of Photonics at the University of Strathclyde (Glasgow), have integrated a 10x10 array of glass microneedles with an array of micro LEDs. This can be implanted at the surface of the brain, then LED-lit microneedles can deliver light to 181 different sites (1.5mm deep), each providing sufficient light to optogenetically excite hundreds of neurons. This is to be used on larger mammals than laboratory mice, wherescientists want toactivate or deactivate selected neurons by illuminating them with light.
- February 2019 -Hitachi, Ltd., Jichi Medical University (JMU), International University of Health and Welfare (IUHW) and Chuo University (Chuo-U) haddeveloped a technology to support the early differential diagnosis of concurrent autism spectrum disorder (ASD) in patients with attention-deficit hyperactivity disorder (ADHD). This technology automatically analyzes the presence or absence of concurrent ASD when an ADHD patient takes their medication for the first time, by using optical topography to measure brain response. The condition can be predicted with a confirmed accuracy of about 82%.
Neurophotonics Market Leaders
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Cairn Research
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Artinis Medical Systems
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Hitachi, Ltd.
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Femtonics Ltd
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Carl Zeiss AG
*Disclaimer: Major Players sorted in no particular order
Neurophotonics Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Government Initiative for Research and Development
- 4.2.2 Technological Advancement in Pain Detection Technology
-
4.3 Market Restraints
- 4.3.1 Accessing the Human Brain in Live Individuals is Difficult
- 4.4 Industry Value Chain Analysis
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4.5 Industry Attractiveness - Porter's Five Force Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By System Type
- 5.1.1 Microscopy
- 5.1.2 Spectroscopy
- 5.1.3 Multimodal
- 5.1.4 Other System Type
-
5.2 By Application
- 5.2.1 Research
- 5.2.2 Diagnostics
- 5.2.3 Therapeutics
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5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 Rest of World
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Artinis Medical Systems
- 6.1.2 Cairn Research
- 6.1.3 Carl Zeiss AG
- 6.1.4 Femtonics Ltd
- 6.1.5 fNIR Devices LLC
- 6.1.6 HemoPhotonics
- 6.1.7 Horiba, Ltd.
- 6.1.8 Leica Microsystems
- 6.1.9 Intelligent Imaging Innovations
- 6.1.10 Hitachi, Ltd.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 Research 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.
Which is the fastest growing region in Neurophotonics Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Neurophotonics Market?
In 2024, the North America accounts for the largest market share in Neurophotonics Market.
What years does this Neurophotonics Market cover?
The report covers the Neurophotonics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Neurophotonics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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