Global FNIRS Brain Imaging System Market Overview
fNIRS is a wearable near-infrared spectroscopy based system that enables the continuous, noninvasive, and safe monitoring of changes in blood oxygenation and blood volume related to human brain function. fNIR systems provide real-time monitoring of tissue oxygenation in the brain as subjects take tests, perform cognitive tasks, and receive stimulation. The fNIR system can also be readily integrated with other physiological and neurobehavioral measures that assess human brain activity, including eye tracking, pupil reflex, respiration and electrodermal activity. fNIR system allows researchers to quantitatively assess brain functions, including but not limited to attention, working memory, planning, decision making, problem solvingwhile individuals perform cognitive tasks.
The fNIRS brain imaging system market accounted for US$ 121.5 million in 2020 and is estimated to be US$ 361.4 million by 2030 and is anticipated to register a CAGR of 11.5%.
Impact of Covid-19 pandemic on market
With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the product segment. Government across the countries have imposed strict lockdown to limit the spread of disease. FNIRS brain imaging system market is affected by COVID-19 due to restriction among individuals as well as the supply chain of this device disrupted. This report quantifies the impact of COVID-19 on fNIRS brain imaging system market.
Global FNIRS Brain Imaging System Market Dynamics
Increasing prevalence of neurological disorders
The increasing prevalence of neurological disorders is the important factor that raises the demand for fNIRS brain imaging system market to a great extent. For instance, According to the Alzheimer’s Association, in 2019, around 5.8 million people are affected by Alzheimer’s within the United States. Moreover, almost 1 out of 10 people aged 65 and above have Alzheimer’s and around 1 in 3 die because of Alzheimer’s. Thereby, accelerating the growth of the market during the forecast period.
Rising need for non-invasive technique
The intensifying need for non-invasive, portable, and cost-effective technique for assessing cortical activity in humans is a key factor driving the demand for fNIRS brain imaging systems. The preference of fNIRS over other modalities like fMRI and positron emission tomography (PET) has advantage as when it's in resisting motion artefacts it give wrong or incomplete results. Such a feature is beneficial while imaging the brains of sportspersons or in rehabilitation research, where the motion of subjects. In recent years, the demand for fNIRS brain imaging systems has been increasingly catalyzed by the reduction in prices of those modalities and therefore the commercial availability of those devices. The user-friendliness is a key attribute boosting its demand among clinicians.
Global FNIRS Brain Imaging System Market Segmentation
The fNIRS Brain Imaging System market is segmented based on product type, application, and region.
On the basis of product type, the global fNIRS Brain Imaging System market is segmented into desk type, and portable type. Based on application, the target market is segmented into the university, hospital, research institution, and others.
Regional Insights:
Regionally, the fNIRS Brain Imaging System market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America anticipated to dominate and has the significant market share during the forecast period. This is attributed to the increasing aged population as well as associated neurological disorder expected to propel the growth of the market. Moreover, increasing healthcare spending and the presence of prominent players is anticipated to fuel the growth of the market to a large extent.
Attribute |
Details |
Base year for estimation |
2020 |
Forecast period |
2020 – 2029 |
Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
Market Segmentation |
By Product Type- Desk Type, and Portable Type By Application– University, Hospital, Research Institution, and Others |
Delivery Mode Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global FNIRS brain imaging system market report based on product type, application and region.
FNIRS Brain Imaging System Market, By Product Type:
- Desk Type
- Portable Type
FNIRS Brain Imaging System Market, By Application:
- University
- Hospital
- Research Institution
- Others
FNIRS Brain Imaging System Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Global FNIRS Brain Imaging System Market Key Players
The key players operating in the fNIRS brain imaging system market include TechEn, Inc., Thermo Fisher Scientific, Bruker, Unity Scientific, FOSS, Buchi, ABB, Perten (PerkinElmer), Agilent Technologies, and Yokogawa. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion. For instance, in 2018, Hitachi introduced a fNIRS system in the market, ETG-4100. It is characterized as highly sensitive and faster for measuring the hemodynamics of the brain.
Global FNIRS Brain Imaging System Market Company Profile
- TechEn, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Thermo Fisher Scientific
- Bruker
- Unity Scientific
- FOSS
- Buchi
- ABB
- Perten (PerkinElmer)
- Agilent Technologies
- Yokogawa
FAQs
The global fNIRS Brain Imaging System market is segmented based on product type, application and region.
The rising prevalence of neurological disorders is the major factor to propel the growth of the global market.
North America dominated the FNIRS Brain Imaging System market and is expected to hold a significant share during the forecast period. This is attributable to the rising prevalence of neurological disorder as well as rising healthcare spending contributed to significant growth during the forecast period.