San Francisco, Boston, San Diego, and London Lead Global 'Brain Industry' Development, New NeuroInsights Study Shows; First Study of Neurotechnology Industry Reveals National and Regional Commitments to Investment, Research and Economic Development.
Some of the findings in NeuroInsights' Neurotech Nexus Report include:
--San Francisco Bay Area leads neurotechnology investment, research and product development -- with Boston in close second. San Diego and London-Cambridge ranked third and fourth respectively;
--Three sectors of the neurotechnology industry are playing a critical role in regional economic development with $87 billion in revenues currently derived from neuropharmaceuticals, $2.8 billion from neurodevices, and $12 billion from neurodiagnostics;
--While major pharmaceutical companies currently generate the majority of the neurotechnology industry's revenue, they increasingly rely on licensing relationships with smaller regional companies for breakthrough treatments;
--Munich (Germany), Montreal (Canada), Singapore, Tokyo (Japan), and Melbourne (Australia) are highlighted as Nascent Nexus' where active government support is fostering the development of neurotech clusters.
According to the report, neurotechnology represents the largest untapped medical market and there are numerous opportunities available to communities that can leverage the dramatic growth of neurotechnology. Given the promise of new treatments, coupled with a patient population of over 1.5 billion people who suffer from a brain-related illness, neurotechnology has become the leading recipient of life science venture funding worldwide.
"Big economic payoffs will accrue to communities that successfully nurture the emerging 'brain industry,'" said Zack Lynch, managing director of NeuroInsights. "The close collaboration of knowledge-intensive institutions, investors, businesses and workers fosters high-quality job creation, influx of investment capital and economic growth."
Dr. James Canton, CEO of The Institute for Global Futures, the report's sponsor, explained, "Neurotech is now truly a global industry with companies and cutting-edge research in the U.S., Europe, and Asia. These regions stand out because the concentration of talent and capital has a positive feedback effect creating a nexus for neurotechnology innovation."
The Neurotech Nexus Report evaluated 20 regions worldwide according to factors such as the concentration of neurotech companies, access to risk capital and social institutions to support future innovation. According to the report's analysis, the top ten regions worldwide are:
1. San Francisco Bay Area
2. Greater Boston
3. San Diego
4. London -- Cambridge
5. Greater New York
6. Greater Raleigh -- Durham
7. Los Angeles -- Irvine
8. Greater Philadelphia
9. Shanghai, China
10. Stockholm, Sweden
As the neurotechnology market authority, NeuroInsights(TM) helps investors, industry executives and the public understand and profit from the rapid growth of companies treating brain and nervous system-related illnesses, providing:
--Neurotech Insights Investment Newsletter
--The Neurotechnology Industry 2005 Report
--Custom economic development analysis;
--Strategic advisory services;
--Events and conferences;
--Market news and stock tracking
About The Institute for Global Futures
The Institute for Global Futures is a San Francisco based think tank that forecasts innovations and trends. IGF provides keynote presentations; futures research services, and strategy consulting to the Fortune 1000, associations and governments.
The 35-page Neurotech Nexus Report sponsored by the Institute for Global Futures is available for free downloads from NeuroInsights at www.neuroinsights.com.
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|Date:||Aug 15, 2005|
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