How valuable are anonymized and unaltered brainwaves?
According to various modern researchers and the news reports released by Grand View Research, Inc, the global neuroscience is projected to reach the value of USD 30.8 billion by 2020. During the forecast period, the pace of growing developments in the field of neuroinformatics and sudden rise in patented research initiatives supported and funded by governments are factors projected to be responsible for the drive in the market share.
In 2016, the estimated value of the global neuroscience research was at USD 28.42 billion and it is quite expected to grow at a CAGR of 3.1% over the period forecast. The factors responsible for influencing the price thereby propelling the market growth include brain mapping research and investigation projects, neuroscience-based initiatives by government bodies, and the advancement of the technological tools and algorithms that are considered for implementation in the neuroscience space.
Over the forecast period, the introduction of novel technologies serving the purpose of mapping neuronal circuits situated in the brain functions is expected to boost the growth of this market. Furthermore, as a result of the global geriatric population, there is a significant increase in the demand for neuroscience-based research as this segment of the population is more prone towards earning the high risk of central nervous system disorders such as Parkinson’s disease and Alzheimer’s thereby making the market growth highly propelled.