Neurophotonics Market

Neurophotonics is defined as a quarterly, peer-reviewed scientific journal covering optical technology applicable to the study of neurons and neural activities (brain) and their impact on basic and clinical neuroscience applications. In the biomedical field, optical technologies are gaining increasing popularity for evaluating and treating a variety of medical disorders. Moreover, in neurology light-based technologies are gaining growing interest, as they have advantages over other methods (e.g., X-rays, magnetic fields, and radio waves), such as lower costs, portability, and long-term safety.  Neurophotonic technologies are currently and potentially used in three fields of application, including research, diagnosis, and therapy. Imaging instruments are commonly used in research and diagnosis, whereas systems for therapy are mainly used for biomodulation and neurostimulation.

COVID-19 Impact Analysis

COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.

Increase has been witnessed in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. The need for medical supplies has increased significantly among both from healthcare professionals and civil population for precautionary measures, owing to rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the global neurophotonics market.

Top Impacting Factors

• Increasing prevalence of neurological disorders, especially age-related and developmental conditions, and increasing geriatric population are major factors driving the neurophotonics market.
• Increasing funding for extensive research and development in this field are the key factors driving the growth of the market.
• Increase in degenerative nerve cells due to lifestyle alterations such as improper sleeping, unhealthy eating habits, and high-stress levels boost the market growth.
• In addition, technological advancements and modernization in healthcare devices and rise in the demand will further create new opportunities for neurophotonics market.
• Moreover, growth in the healthcare investments boosts the growth of the market.
• However, rise in cost of research and development activities, increase in the price of the treatment, and lack of the awareness about the use of the advanced technologies are the factors that act as the key restraints of the market.

Market Trends

New Product Launches to Flourish the Market

In February 2019 , Hitachi, Ltd., Jichi Medical University (JMU), International University of Health, and Welfare (IUHW) and Chuo University (Chuo-U) developed a technology to support the early differential diagnosis of concurrent autism spectrum disorder (ASD) in patients with attention-deficit hyperactivity disorder (ADHD).

In 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.

Key Benefits of the Report

• This study presents the analytical depiction of the neurophotonics market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Neurophotonics Market Report

• Which are the leading market players active in the neurophotonics market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps?
• What is neurophotonics market?
• What is neurophotonics market prediction in the future?
• Who are the leading global players in the neurophotonics market?
• What are the current trends and predicted trends?
• What are the key benefits of the neurophotonics market report?

 Neurophotonics Market Report Highlights