Market Trends of Neurophotonics Industry
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.
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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.
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