Is Neon red a real color?

Could you clarify for me, is the term "Neon red" actually referring to a specific color that exists in the spectrum of visible light, or is it perhaps a descriptive term used to convey a certain visual effect or atmosphere? In other words, is "Neon red" a universally recognized and measurable hue, or is it more of a conceptual or creative representation of a color? If it is indeed a real color, what specific wavelength of light does it correspond to, and are there any official color-matching systems that recognize it?