Global Neurophotonics Market By System (Microscopy, Spectroscopy, Multimodal), By Applications (Research, Diagnostics, Therapeutics), By End-Users (Hospitals, Clinics), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Neurophotonics is a quarterly, peer-reviewed scientific journal devoted to the application of optical technology to the study of neurons and neural activity in the brain, as well as their impact on basic and clinical neuroscience applications. Optical technologies are gaining prominence in the field of biomedicine to evaluate and treat several medical conditions.

Furthermore, light-based technologies are gaining popularity in neurology because they offer benefits over other approaches (such as X-rays, magnetic fields, and radio waves), including features such as cheaper prices, portability, and long-term safety. Research, diagnosis, and therapy are three areas where neurophotonic technologies are currently being used. Imaging tools are frequently employed in research and diagnostics, whereas biomodulation and neurostimulation devices are the most regularly utilized forms of therapeutic systems.

Detailed Segmentation –

The global neurophotonics market is segmented on the basis of – System Types, Applications, End-Users, and Region. Represented below is a detailed segmental description:

Based on System Types:

• Microscopy
• Spectroscopy
• Multimodal
• Other System Types

Based on Applications:

• Research
• Diagnostics
• Therapeutics

Based on End-Users:

• Hospitals
• Clinics
• Other End-Users

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics –

Drivers for the Global Neurophotonics Market:

One of the primary factors propelling this market is increasing funding towards significant research & development activities in this industry. For instance, in 2014, the United Nations launched Brain Research through Advancing Innovative Neurotechnologies (BRAIN) Initiative, to understand the inner workings of the human mind, even the National Institutes of Health (NIH) has also contributed several investments.

Government measures such as this are expected to have a favorable impact on this market. Moreover, the market for neurophotonics is being upsurged by an increase in the prevalence of neurological illnesses, particularly age-related and developmental conditions, as well as an increase in geriatric populations. These are certain factors that will help augment this market in the years to come.

Opportunity for the Global Neurophotonics Market:

Technological modernization and advancements in healthcare devices, as well as an increase in the demand for neurophotonics, is anticipated to create new opportunities for this market. Furthermore, the ability to detect pain is another area where neurophotonics is predicted to have significant potential in the future.

According to the US Department of Health and Human Services, roughly 18% of survey respondents stated they had visited a healthcare service provider for lower back discomfort in the previous year. Although, for this to happen, several studies are required. If it is successful, it will give this market extensive opportunities to expand.

Restraints for the Global Neurophotonics Market:

The increasing cost of R&D activities, as well as an upsurge in the price of treatments, and a lack of awareness concerning the use of advanced technologies are factors that may hamper the revenue growth of this market.

Competitive Landscape –

Key players in this market are –

• Hitachi Ltd.
• Artinis Medical Systems BV
• Cairn Research
• Femtonics Ltd.
• Carl Zeiss AG
• others

Key Developments:

Year 2019:

• In February 2019, Hitachi Ltd., Jichi Medical University (JMU), International University of Health and Welfare (IUHW), and Chuo University (Chuo-U) have created a device to aid in the early detection of concurrent Autism Spectrum Disorder (ASD) in patients with Attention Deficit Hyperactivity Disorder (ADHD).
• In September 2019, researchers from the University of Strathclyde’s Institute of Photonics have combined a 10×10 array of glass microneedles with a micro-LED array. This can be implanted near the brain’s surface, and LED-lit microneedles can then transmit light to 181 separate spots (1.5mm deep), each of which can optogenetically stimulate hundreds of neurons.

For the Global Neurophotonics Market research study, the following years have been considered to estimate the market size: