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.
