1. Background
and context
It is increasingly important to discuss the challenges associated with neurotechnology as investment
and interest in the field is accelerating.
1 in 8
people live with a
neurological disorder
With one in eight people living with a neurological
disorder, neurotechnology can assist many
people when used in medical applications.7 There
is also a growing market of consumer‑oriented
neurotechnological products.
There has been a
increase in neurotechnology
investment globally*
*between 2014 and 2021
Between 2014 and 2021, there has been a 700%
increase in neurotechnology investment globally.8
The broad range of potential applications of
neurotechnology increases its viability as an
investment option.
The United Kingdom’s (UK) Information
Commissioner’s Office (ICO) cites the Regulatory
Horizons Council’s prediction that the
neurotechnology market could be valued at
$17.1 billion USD by 2026, with the largest segments
being neuromodulation, neuroprosthesis and
neurosensing.9
Many governments are also investing heavily in
neurotechnologies as organisations compete to
innovate, scale and secure market share. The
industry is greatly assisted by government initiatives
– such as the United States (US) government’s
BRAIN Initiative and the Human Brain Project by
the European Union (EU), which will contribute
$6.6 billion USD and €1.19 billion respectively.10
Further:
China plans to invest $1 billion USD until 2030 in
the China Brain Project11
Japan plans to invest ¥40 billion JPY in its Brain
Initiative12
Canada invested $267 million CAD in the Canada
Brain Research Fund in 202113
Spain has provided for a €200 million
EURO investment in its National Center for
Neurotechnology14
UK invested €98 million EUROS in research funding
for neurotechnology between 2011 and 2020.15
However, it is not just the international community
that is delving into the neurotechnological
industry. In 2016, the Australian Brain Alliance
was established with the support of the Australian
Academy of Science.16 From 2016 to 2020,
Australia’s public investment in neurotechnology
totalled $350 million USD.17 However, the Australian
Academy of Science is currently advocating for an
Australian Brain Initiative (comparable to initiatives
in other countries) with a proposal for $500 million
in funding across five years.18
Australian Human Rights Commission
5