The neurophotonics market share is expected to increase by USD 397.53 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.66%.

This neurophotonics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers neurophotonics market segmentations by application (research, diagnostics, and therapeutics) and geography (North America, Europe, Asia, and Rest of World (ROW)). The neurophotonics market report also offers information on several market vendors, including Bruker Corp., Cairn Research Ltd., Carl Zeiss AG, Femtonics Ltd., HemoPhotonics SL, Hitachi Ltd., HORIBA Ltd., Intelligent Imaging Innovations Inc., ISS Inc., John Wiley and Sons Inc., Leica Microsystems, Nanoscope Technologies LLC, Nikon Corp., NIRx Medical Technologies LLC, Olympus Corp., PerkinElmer Inc., fNIR Devices LLC, Thermo Fisher Scientific Inc., Vielight Inc., and Artinis Medical Systems among others.

What will the Neurophotonics Market Size be During the Forecast Period?

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Neurophotonics Market: Key Drivers, Trends, and Challenges

The increasing prevalence of neurological disorders is notably driving the neurophotonics market growth, although factors such as unawareness of neurological disorders may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the neurophotonics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Neurophotonics Market Driver

The increasing prevalence of neurological disorders is one of the key drivers supporting the neurophotonics market growth. Neurological disorders are increasingly recognized as the major cause of death and disability worldwide. Low- and middle-income countries continue to bear the brunt of neurological illnesses. Significantly, governments will face increased demand for treatment, rehabilitation, and support services for neurological disorders as populations expand and age, and the prevalence of severe debilitating neurological disorders rises sharply with age, contributing to market expansion. Genetic disorders, congenital anomalies or disorders, and others are some of the causes of neurological disorders. Hence, the increasing prevalence of neurological disorders will fuel the market growth during the forecast period.

Key Neurophotonics Market Trend

Future opportunities in neurophotonics is one of the key neurophotonics market trends that is contributing to the market growth. Neurophotonics is a fast emerging field that has attracted a lot of attention from academia, industry, government, and healthcare around the world. It uses a variety of optical techniques, like microscopy and spectroscopy, to get a multiscale understanding of the structures and functions of a normal as well as a diseased brain, along with the nervous systems. Advances in rapid peripheral immune cell phenotyping employing sophisticated biophotonics methodologies and associated big data deep learning analytical tools will be critical for remote neurophotonics development. Therefore, these elements contribute to the market growth during the forecast period

Key Neurophotonics Market Challenge

Unawareness of neurological disorders is one of the factors hindering the neurophotonics market growth. It can, however, lead to harmful impacts and make care management difficult. Awareness is a complex and multidimensional entity with neurological, neuropsychological, psychopathological, and psychosocial elements that are yet poorly understood. Unawareness is a partial and dimensional phenomenon that is sometimes misunderstood as a categorical phenomenon. Neurological disorders can be difficult to diagnose because symptoms of one condition can be similar to another. Neurology has an especially close relationship with psychology and psychiatry, as all three disciplines focus on the functions and disorders of a single organ, the brain. However, neurological syndromes can be mistaken for psychiatric conditions. Such factors will limit the neurophotonics market growth during the forecast period.

This neurophotonics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global neurophotonics market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the neurophotonics market during the forecast period.

Who are the Major Neurophotonics Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Bruker Corp.
• Cairn Research Ltd.
• Carl Zeiss AG
• Femtonics Ltd.
• HemoPhotonics SL
• Hitachi Ltd.
• HORIBA Ltd.
• Intelligent Imaging Innovations Inc.
• ISS Inc.
• John Wiley and Sons Inc.
• Leica Microsystems
• Nanoscope Technologies LLC
• Nikon Corp.
• NIRx Medical Technologies LLC
• Olympus Corp.
• PerkinElmer Inc.
• fNIR Devices LLC
• Thermo Fisher Scientific Inc.
• Vielight Inc.
• Artinis Medical Systems

This statistical study of the neurophotonics market encompasses successful business strategies deployed by the key vendors. The neurophotonics market is fragmented and the vendors are deploying growth strategies such as partnership, agreement, collaboration, and joint ventures to compete in the market.

Product Insights and News

• Artinis Medical Systems - Through the unified segment, the company offers /image quality assessment of x-ray devices and near-infrared spectroscopy devices used to monitor tissue oxygenation. 
• Artinis Medical Systems - The company offers optical imaging systems product manufacturing. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The neurophotonics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Neurophotonics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the neurophotonics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Neurophotonics Market?

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42% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the neurophotonics market in North America. Market growth in this region will be faster than the growth of the market in ROW.

An increase in surgical procedures will facilitate the neurophotonics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic in 2020 certainly had a negative impact on the neurophotonics market in North America. However, in 2021, the demand for neurophotonics increased as end-user applications resumed due to the onset of COVID-19 vaccination drives. Thus, the increased demand contributes to the market growth.

What are the Revenue-generating Application Segments in the Neurophotonics Market?

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The neurophotonics market share growth by the research segment will be significant during the forecast period. The research segment holds a major share in the global neurophotonics market and is expected to continue during the forecast period. Neurosciences are undergoing a transformation and changes as a result of advances in optical technologies. Optical technologies for imaging and manipulating brain structure and functions range from a non-invasive macroscopic analysis of the cortical activities in human subjects to observation of intracellular organelles and protein assemblies. Moreover, the global neurophotonics market has made significant progress in identifying diseases such as neurological disorders and improving diagnosis and therapy due to increased funding for brain research. Such investments will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the neurophotonics market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Neurophotonics Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive neurophotonics market growth during the next five years
• Precise estimation of the neurophotonics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the neurophotonics industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of neurophotonics market vendors

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