Global fNIRS Brain Imaging System Industry was 108.07 Million USD in 2017
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The fNIRS Brain Imaging System industry was 108.07 million USD in 2017 and is projected to reach USD 189.90 million USD by 2022, at a CAGR (Compounded Annual Growth Rate) of 11.93% between 2017 and 2022. The fNIRS Brain Imaging System industry sales was 350 Units in 2017 and is projected to reach 664 Units by 2022, at a CAGR (Compounded Annual Growth Rate) of 13.66% between 2017 and 2022. The market is driven by various end-user industries, such as university, hospital, research institution and so on.
The industry is concentration, the key brand include Hitachi, Shimadzu Corporation, NIRx, ISS, Biopac, Techen, Artinis, Gowerlabs, Spectratech. Hitachi and Shimadzu Corporation are the leaders in this market.
An fNIR System provides researchers with real-time monitoring of tissue oxygenation in the brain as subjects take tests, perform tasks, view advertisements, experience ergonomic layouts, or receive stimulation. It allows researchers to quantitatively assess brain functions—such as attention, memory, planning, and problem solving—while individuals perform cognitive tasks. Monitor cognitive state of the subject in natural environments.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.