Neuroplasticity refers to the ability of neural pathways and synapses in the brain to change and adapt as a result of lived experiences, learning, development, damage, or neurological and psychiatric disorders. Neuroplasticity-based therapies and devices aim to promote neuroplastic changes in the brain through non-invasive brain stimulation techniques like repetitive transcranial magnetic stimulation (rTMS), transcranial direct current stimulation (tDCS), and cognitive/motor training-driven neuroplasticity. These therapies are increasingly being used for conditions like stroke, Alzheimer’s disease, Parkinson’s disease, depression, and PTSD. Neuroplasticity-based therapies offer novel treatment approaches with less risk of side effects than traditional pharmacotherapy.
The global neuroplasticity market comprises neuroplasticity-based therapies and devices targeting a variety of neurological and psychiatric conditions. Key products include rTMS devices, cognitive training software/applications, motor training systems, and tDCS devices. Neuroplasticity therapies offer significant advantages over conventional pharmacotherapy by directly targeting abnormal brain activation patterns and networks through stimulation and training-driven neuroplastic changes. They have shown promise in improving symptoms, functionally reorganizing abnormal neural circuits, and enhancing functional recovery in several neurological conditions.
The global Neuroplasticity Market is estimated to be valued at US$ 6.61 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the neuroplasticity market is the growing adoption of non-invasive brain stimulation devices. Non-invasive brain stimulation techniques like rTMS and tDCS are gaining increasing acceptance in clinical practice due to their ability to induce neuroplastic changes with minimal risks or side effects. A surge in clinical research evaluating neuroplasticity-based therapies has demonstrated their efficacy for various conditions. This is driving the demand for non-invasive neuromodulation devices in clinical settings as well as at-home use. Another major trend is the integration of neuroplasticity therapies with digital technologies. Advancements in virtual reality, serious games, and digital sensors are enabling the development of novel neuroplasticity-driven interventions combining brain stimulation, sensorimotor/cognitive training through digital platforms. Such digital neuroplasticity solutions offer scalable, engaging, and personalized treatment options driving the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The neuroplasticity market requires high R&D investment which acts as a barrier for new players.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitutes.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes.
Threat of new substitutes: Substitute therapies like stem cell treatments pose threat to the market.
Competitive rivalry: The market is highly competitive due to presence of large number of players.
Key Takeaways
|The Global Neuroplasticity Market Size is expected to witness high growth. The global Neuroplasticity Market is estimated to be valued at US$ 6.61 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.
Regional analysis North America holds the largest share of the neuroplasticity market owing to advanced healthcare infrastructure and increasing research funding for neuroplasticity therapies in the region.
Key players operating in the neuroplasticity market are Cushman & Wakefield, Tenon Group, Apollo Sindoori, Compass Group PLC, Sodexo, Serco Group PLC, OCS Group, Jones Lang LaSalle, ISS World Services AS, Ecolab Inc., ABM Industries Inc., Aramark Corporation, Vanguard Resources Inc., and Medxcel Facilities Management, among others. Key players operating in the neuroplasticity market are focusing on new product launches and regulatory approvals to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it