There’s an interesting feature in the December issue of Fortune on the burgeoning neurotechnology market. The article covers a number of companies that have launched – or intending to launch – consumer ready neurotechnology devices including, Halo Neuroscience, Melon, FocusBand, Narbis, Melomind, Emotiv, Thync, Halo Neuroscience, Fisher Wallace and Interaxon.
1. The current brain training industry is worth $1.3 billion and is expected to grow to $6 billion by 2020
The article quotes research by SharpBrains, which tracks neuroscience trends, and says that the industry is set for rapid growth over the next five years.
2. The technology powering neurotech devices is advancing at a rapid rate
“The good news is that the field is expanding because new technology has vastly improved our understanding of how the brain works and EEG equipment is growing less cumbersome and much cheaper. Much of the excitement centers on neuroplasticity, the brain’s ability to reorganize itself by forming new connections between cells, and neurogenesis, its ability to create new neurons long into life.”
3. There’s still a degree of skepticism from some neuroscience experts on the validity of neurotechnology
Top experts express reservations about today’s technology especially when it comes to brain stimulation devices but a belief that the field is real and heading in promising directions.