The Global Neuroplasticity Market Size is valued at USD 5.14 billion in 2022 and is predicted to reach USD 41.79 billion by the year 2031 at a 26.6% CAGR during the forecast period for 2023-2031.
The capacity of the brain to reorganize itself by creating new neural connections as we age is known as neuroplasticity. The brain's neurons may adapt to various circumstances, pick up new skills, and react to environmental changes because of this process. Because it allows the neurons to rearrange themselves and form new connections, neuroplasticity is a crucial component in the brain's ability to recover from damage.
The brain can learn and store new knowledge by adapting to new experiences because of neuroplasticity. The term "plasticity" describes the brain's malleability or capacity for change, not its plasticity. Neuro is short for neurons, the nerve cells that comprise the brain and neurological system. Thus, neuroplasticity enables adjustments or changes in nerve cells.
The term "neuroplasticity" describes how new experiences cause anatomical and functional changes in the brain. The brain can "rewire" and "reorganize" itself after brain trauma because of the plasticity of the brain, also known as neuroplasticity, as new connections are made and neural pathways to injured brain regions are cut off. Known as sprouting and rerouting, these processes are the main drivers of neuroplasticity. The process of sprouting is when nerve cells, or neurons, form new connections.
The high cost of the treatments and therapy is anticipated to hamper the market growth. Stringent regulatory procedures and a lack of reimbursement policies related to treatment hinder the growth of the market. Increasing mobile health applications and digital therapeutics creates opportunities to provide neuroplasticity interventions.
Recent Developments:
- In Nov 2021, SFIO Starfleet Innotech, Inc. and biotech company NeuroSky signed an agreement granting the asset management company distribution rights to NeuroSky's cutting-edge health and wellness monitoring devices. As part of SFIO's initiative to create synergies across its primary investment areas, the company intends to sell an initial run of at least 100,000 wearables via partners in the health, construction, education, and other related industries.
Competitive Landscape
Some of the the neuroplasticity market players are:
- NeuroSky Inc.
- Posit Science Corporation
- BrainHQ
- Synaptitude Brain Health
- Mindmaze SA
- NeuroVigil Inc.
- Lumosity
- Neuronetics, Inc.
- CogniFit
- BrainHQ
- Advanced Brain Monitoring
- SharpBrains
- Emotiv Inc.
- BrainCo
- BrainHQ
- Neuroscape
- Neuroplast BV
- Reha Technology AG
- Virtualware Group
- Nexeon Medsystems Inc.
Market Segmentation:
The neuroplasticity market is segmented on the basis of product type, application, and end user. Product type includes software-based solutions and hardware-based solutions. Application segment includes stroke rehabilitation, traumatic brain injury (TBI) rehabilitation, neurodegenerative disorders, learning and memory enhancement, and mental health disorders. On the basis of end users, the market is segmented into hospitals and clinics, research institutes and academic centres, pharmaceutical and biotechnology companies, and others.
Based On Application, The Neurodegenerative Disorders Segment Is Accounted As A Substantial Contributor To The Neuroplasticity Market
The neurodegenerative disorders category is expected to hold a significant share of the global neuroplasticity market in 2022. Neuroplasticity, the brain's capability to reorganize and adapt, is crucial for brain rehabilitation and recovery in persons with neurodegenerative diseases, which is anticipated to drive market growth during the forecast period. New methods and treatments to promote neuroplasticity and recovery in patients with neurodegenerative diseases are anticipated to boost market expansion.
Hospitals And Clinics Segment To Witness Growth At A Rapid Rate
The hospitals and clinics category is projected to improve in the global neuroplasticity market. Increasing treatment related to neurological diseases is anticipated to drive market growth. Furthermore, technological advancements in medicine related to neurological disorders propel the market expansion.
In The Region, The North America Neuroplasticity Market Holds A Significant Revenue Share
The North America neuroplasticity market is expected to register the highest market share in revenue shortly. Increasing research and development in neuroplasticity treatments will drive market growth. Moreover, key market participants are focusing on acquisitions and mergers, which are driving the growth of the market.
Global Neuroplasticity Market Report Scope
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Report Attribute |
Specifications |
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Market size value in 2022 |
USD 5.14 Bn |
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Revenue forecast in 2031 |
USD 41.79 Bn |
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Growth rate CAGR |
CAGR of 26.6 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
By Application, Product Type, End-user |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
NeuroSky Inc., Posit Science Corporation, BrainHQ, Synaptitude Brain Health, Mindmaze SA, NeuroVigil Inc., Lumosity, Neuronetics, Inc., CogniFit, BrainHQ, Advanced Brain Monitoring, SharpBrains, Emotiv Inc., BrainCo, BrainHQ, Neuroscape, Neuroplast BV, Reha Technology AG, Virtualware Group, Nexeon Medsystems Inc. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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