NEUROPLASTICITY MARKET ANALYSIS

The Global Neuroplasticity Market size was valued at US$ 6.51 billion in 2023 and is projected to reach US$ 35.4 billion by 2030, growing at a CAGR of 27.4% from 2023 to 2030.

The growth of the neuroplasticity market is being driven by the increasing prevalence of neurological disorders, such as Alzheimer's disease, Parkinson's disease, and stroke. Additionally, the rising awareness about the benefits of neuroplasticity-based interventions for improving cognitive function and treating neurological disorders is also contributing to the growth of the market.

The neuroplasticity market is segmented by product type, application, end user, and region. By product type, the market is segmented into software-based solutions and hardware-based solutions. By application, the market is segmented into stroke rehabilitation, traumatic brain injury (TBI) rehabilitation, neurodegenerative disorders, learning and memory enhancement, and mental health disorders. By end user, the market is segmented into hospitals and clinics, research institutes and academic centers, pharmaceutical and biotechnology companies, and others.

 Neuroplasticity Market Regional Insights

• North America is expected to dominate the global neuroplasticity market with a market share of over 33.0% in 2023. For instance, according to data published in December 2022 by the Parkinson's Foundation, an estimated 930,000 people in the U.S. were suffering from Parkinson's disease in 2020.
• Europe is the second-largest market for neuroplasticity, with a market share of over 20.0% in 2023. This is due to the increasing awareness about brain health and neuroplasticity in the region, which is supporting the development and adoption of neuroplasticity therapies. For instance, in February 2021, the World Federation of Neurology, an organization based in Brussels, Belgium, which aims to foster quality neurology and brain health worldwide, announced the launch of the Brain Health Initiative, a global campaign to promote the importance of brain health. This initiative centers on free, comprehensive information on a variety of topics such as why brain health is important and what happens when brains are not healthy. The program aims to reduce the burden of brain diseases and disorders, which are the second leading cause of death globally.
• Asia Pacific is the third largest market for neuroplasticity, with a market share of over 18.0% in 2023. This is due to an increase in the research and development activities in the region. For instance, in November 2020, the National Institute of Mental Health and Neuro Sciences, India, initiated a clinical trial titled “Examining Neuroplasticity Modulation as the Mechanistic Basis of tDCS Treatment Effects on Auditory Verbal Hallucination in Schizophrenia”. The study is estimated to be completed on August 31, 2025.

Figure 1. Global Neuroplasticity Market Share (%), By Region, 2023

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Neuroplasticity Market Drivers

• Increasing prevalence of neurological disorders: Neurological disorders such as stroke, traumatic brain injury (TBI), Alzheimer's disease, Parkinson's disease, dementia and others are becoming more prevalent globally. These conditions often result in functional impairments and require therapeutic interventions that can harness neuroplasticity to promote recovery and rehabilitation. For instance, according to data published in October 2020, by the Centers for Disease Control and Prevention (CDC), in 2020, an estimated 5.8 million people in the U.S. aged 65 years or older had Alzheimer’s disease.
• Increasing research and development activities: The field of neuroscience is rapidly evolving, leading to a deeper understanding of the brain's plasticity and its potential for therapeutic interventions. For instance, on July 1, 2023, LMU Klinikum, a clinic and medical college, based in Bavaria, Germany, initiated a clinical trial titled “Insight Into Hippocampal Neuroplasticity in Schizophrenia by Investigating Molecular Pathways During Physical Training”. The study is estimated to be completed in September 2026.
• Technological advancements: The advancements in technologies such as brain-computer interfaces (BCIs), virtual reality (VR), augmented reality (AR), and robotics have opened up new possibilities for neuroplasticity-based interventions. These technologies enable precise and targeted stimulation of the brain and promote adaptive neural connections. For instance, according to data published on June 6, 2023, by Frontiers Media S.A, brain–computer interfaces (BCIs) systems can help stroke patients. Such systems can induce the input–output properties of spinal cord circuits in real time, which can promote integrated neuroplasticity of affected corticospinal connections, effectively closing the loop to efferent brain signals coupled to afferent inputs and facilitate voluntary motor control.
• Growing demand for non-invasive and personalized treatments: There is an increasing demand for non-invasive and personalized treatments for neurological conditions. Neuroplasticity-based therapies have the potential to provide individualized interventions that are tailored to a patient's specific needs, leading to better outcomes and patient satisfaction.

Neuroplasticity Market Opportunities

• Increasing launch of online programs: Increasing launch of online programs provides an opportunity to develop innovative therapies that leverage neuroplasticity. For instance, on August 16, 2023, Cortex, an organization dedicated to empowering lives through brain reorganization, announced the launch of its online Brain Reorganization Program. The program is movement-based, guided by the principles of neuroplasticity, the fact that the brain can change its wiring at any age. By re-creating the movements that humans are meant to do in childhood, participants can complete gaps in their neurological development and give their brain the primitive foundation it needs to support their higher functions.
• Increasing Adoption of inorganic growth strategies such as partnership: Increasing adoption of inorganic growth strategies such as partnership is expected to drive the growth of the global neuroplasticity market over the forecast period. For instance, on May 17, 2023, SynPhNe, a provider of wearable devices to train brain and muscle for disabled people and Indegene, a medical device company, announced partnership to launch Synergistic Physio-Neuro Platform. The platform uses a real-time neuroplasticity training model to enable the recovery of body-and-brain function together. The new connected wearable solution is designed to train the brain and muscles in one system.
• Personalized medicine: Neuroplasticity research has highlighted the importance of individualized treatment approaches. This opens up opportunities for personalized medicine in the neuroplasticity market. Tailoring therapies and interventions to the specific needs of patients, based on factors like genetics, neural profiles, and environmental factors, can lead to more effective and targeted outcomes.
• Digital therapeutics and mobile health applications: The rise of digital therapeutics and mobile health applications presents an opportunity to deliver neuroplasticity-based interventions remotely and on-demand. Mobile apps, wearable devices, and virtual platforms can provide users with personalized cognitive training, neurofeedback, and brain stimulation programs, making neuroplasticity interventions more accessible and convenient. For instance, in April 2020, The Uncomplicated Family Corporate Group (TUF), a company that specializes in the hospital and health care areas, announced the launch of the Kids Digital Health platform, dedicated to providing parents and caregivers’ access to gamified apps and tools proven to have a positive impact on children’s health and wellbeing. The newly launched Kids Digital Health platform is a subscription-based content service for kids that provides parents with a trusted source for apps and games that engage their kids while helping improve their brains through neuroplasticity.

Neuroplasticity Market Trends

• Integration of virtual reality (VR) and augmented reality (AR): VR and AR technologies are increasingly being integrated into neuroplasticity-based interventions. These immersive technologies provide realistic and interactive environments for cognitive training, rehabilitation, and sensory stimulation. VR and AR can enhance engagement, motivation, and neuroplasticity by creating rich sensory experiences and promoting active participation in therapy.
• Technology Advancement: Continued developments in neuroscience are unraveling a deeper mechanistic understanding of how experiences, environments, and lifestyles impact neuroplasticity. Large epidemiological studies, along with advanced analytics, are helping link cognitive, emotional, and social factors to observable neuroplastic change. For instance, according to data published on August 28, 2023, by Medicover Hospitals, bases in India, technological advancements are bolstering neuroplasticity-driven recovery. Tools like brain-computer interfaces (BCIs) allow individuals to control robotic limbs or computer applications using their thoughts. Such innovations not only restore mobility but also fuel the brain's rewiring process.
• Neurofeedback and real-time brain monitoring: Neurofeedback, which involves providing real-time feedback on brain activity, is gaining popularity as a neuroplasticity-based intervention. Advances in neuroimaging and wearable sensors allow for real-time monitoring of brain activity, enabling individuals to self-regulate their brain function and enhance neuroplasticity. Neurofeedback holds potential in various applications, including cognitive enhancement, stress reduction, and mental health disorders.
• Increasing adoption of inorganic growth strategies such as collaboration: Increasing adoption of inorganic growth strategies such as collaboration is expected to drive the growth of the global neuroplasticity market over the forecast period. For instance, on February 14, 2023, Delix Therapeutics, a neuroscience company developing novel neuroplasticity-promoting therapeutics for psychiatric and neurological conditions, announced its collaboration with two partners that will help expedite the company's drug development pipeline. To further the company's mission to 'rewire the brain to heal the mind', Delix Therapeutics is also expanding its team of experts, including the addition of Alison Mungenast, PhD, as Senior Director of Neuroplasticity. As a multifunctional neuroscientist, Alison joins Delix from Sana Biotechnology, where she manages the CNS cell therapy group working to advance therapeutic approaches to neurodegenerative disease.

Neuroplasticity Market Restraints

• Limited awareness and understanding: Neuroplasticity is a complex concept that is not widely understood by the general public, healthcare professionals, or even some researchers. The lack of awareness and understanding about the mechanisms and benefits of neuroplasticity can hinder the adoption of neuroplasticity-based interventions and limit market growth.
• Regulatory challenges: The regulatory landscape surrounding neuroplasticity-based therapies and technologies can be challenging. The development and approval of new therapies often require extensive clinical trials and regulatory compliance, which can be time-consuming and costly. Ensuring safety, efficacy, and ethical considerations adds complexity to the regulatory process.
• Cost of therapies: Neuroplasticity-based therapies and technologies can be costly, limiting access for certain patient populations. The expenses associated with equipment, specialized training, and ongoing treatment can pose financial barriers, particularly in regions with limited healthcare resources or inadequate insurance coverage.
• Lack of reimbursement: In many healthcare systems, there may be limited or no reimbursement for neuroplasticity-based interventions. The absence of reimbursement mechanisms for therapies such as neurofeedback, brain stimulation techniques, and cognitive training programs can hinder their widespread adoption, as healthcare providers and patients may hesitate to invest in treatments without financial support.

Recent Developments

New product approval

• Cognixion, a developer of noninvasive Brain-Computer Interface (BCI) announced that its flagship device, the Cognixion ONE Axon, has been granted a U.S. Food and Drug Administration (FDA) Breakthrough Device designation. The designation will allow the company to streamline their development and validation processes with prioritized interactive feedback from U.S. FDA review staff in preparation for regulatory submission. This special FDA Breakthrough designation is awarded to devices that demonstrate the potential to provide more effective treatment of life-threatening or irreversibly debilitating diseases or conditions for which no clear alternatives exist.
• In November 2022, MyndTec Inc., a medical device company, announced the launch of its newest product, MyndStepTM, to its functional electrical stimulation (FES) portfolio. It uses neuroplasticity mechanisms to stimulate development of new neural efferent and afferent pathways allowing patients to re-establish voluntary movement and improve independence in their activities of daily living.

Acquisition and partnerships

• In June 2022, the Institute of Functional Neuroscience (IFN), a treatment and rehabilitation center utilizing the latest technologies in neuroplasticity research, and MetaCell, an innovative life science software company specializing in cutting-edge research software for major pharma, biotech, and academic institutions, partnered to launch IFN Neurologic. This application will help clinicians to better serve patients with neurological disorders and provide treatments in the functional neuroscience domain.
• In May 2022, Blackrock Neurotech, a company that develops brain-computer interface (BCI) technology platforms for the development of implantable solutions, announced the acquisition of MindX, a software company, to bolster its development of technologically advanced brain-computer interface products.

Figure 2. Global Neuroplasticity Market Share (%), By Application, 2023

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Top companies in Neuroplasticity Market

• NeuroSky Inc.
• Posit Science Corporation
• BrainHQ
• Synaptitude Brain Health
• Mindmaze SA
• NeuroVigil Inc.
• Lumosity
• Neuronetics, Inc.
• CogniFit
• SharpBrains
• Emotiv Inc.
• BrainCo
• Neuroscape
• Neuroplast BV
• Reha Technology AG
• Virtualware Group
• Nexeon Medsystems Inc.

*Definition: Neuroplasticity, also known as brain plasticity, is the ability of the brain to change throughout an individual's life. The brain has the amazing ability to reorganize itself by forming new connections between brain cells (neurons).