Set to grow at a steady rate over the next few years, the global neuroscience market is witnessing a number of factors underlying the projected growth. Some of the prominent ones are direction of significant efforts towards research and developments as can be seen in the growth of number of projects in the field, enthusiasm shown by governments across the globe, and integration of technology.
It is also pertinent to name some of the organizations that are impacting neuroscience in a major way. Some of such organizations include University of Pennsylvania, NIH, Neuroscience Canada, Ontario Brain Institute, Max Planck Florida Institute, and University of Utah. These are significant pivots in the growth trajectory of neuroscience research and development.
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Besides, a number of initiatives have also emerged that are helping the market chart significant growth over the coming few years. One such initiative is ‘Neuroscience Initiative’, started by University of Utah in the year 2014. It focused on understanding impact of brain disorders on overall health of patients with considerable depth. And, in turn, this paved way for creation of innovative solutions.
It is also worth noting here that the global neuroscience market is partially fragmented and has a number of strong players breaking new grounds. Some of the prominent ones that mark the global neuroscience market landscape are GE Healthcare, Kendall Research Systems LLC, Med Associates Inc., Multi-channel Systems MCS GmbH, Blackrock Microsystems, NeuroNexus, Sutter Instrument Company, and Prairies Technologies (Bruker Corporation), among others.
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Most players are focusing on product development and improvement via use of advanced technology. Certain technologies that are seeing growing popularity in the market space are Artificial Intelligence (AI), machine learning, and Internet of Things (IoT). One of the notable developments that the market witnessed in 2015 was introduction of a programmable valve by Codman Neuro.