NEUROPLASTICITY MARKET ANALYSIS

Neuroplasticity MarketSize and Trends

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 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.