NEUROPLASTICITY MARKET ANALYSIS

Market Challenges And Opportunities

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 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.