May 29, 2024
Neuroplasticity Market

The Neuroplasticity Market Is Driven By Advancements In Rehabilitation Techniques

The neuroplasticity market consists of products and services that enhance the brain’s ability to change and adapt its neural connections throughout an individual’s lifetime. Brain connections can be strengthened or weakened as we learn new skills or suffer injury or disease. Neuroplasticity-enhancing treatments optimize brain function by improving communication between neural pathways. Neuroplasticity medication aims to boost neurotransmitters associated with learning and memory such as dopamine and serotonin. Rehabilitation techniques like physical therapy, occupational therapy, and cognitive behavioral therapy provide targeted stimulus to strengthen relevant neural networks. Brain stimulation devices deliver electrical or magnetic pulses to targeted brain regions to promote neuroplastic changes. Brain training tools give customized cognitive exercises designed to enhance neuroplasticity.

The Global Neuroplasticity Market Size is estimated to be valued at US$ 7.62 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Advancements in non-invasive brain stimulation techniques are driving the neuroplasticity market. Technologies like transcranial magnetic stimulation (TMS) and transcranial direct current stimulation (tDCS) can modulate brain activity without surgery. TMS uses magnetic pulses to activate targeted brain regions and is FDA approved for treating depression, migraine, and Alzheimer’s disease. tDCS applies weak electrical currents to boost activity in underactive areas or inhibit overactive regions. Researchers are exploring optimized tDCS protocols for enhancing cognition, movement, and mood. As further refinements increase the clinical efficacy of non-invasive stimulation, adoption is expected to grow rapidly.

Porter’s Analysis

Threat of new entrants: The neuroplasticity market requires significant investments in R&D. Additionally, established brands have strong customer loyalty and relationships with doctors which makes it difficult for new entrants.

Bargaining power of buyers: Individual consumers have low bargaining power due to availability of few alternatives. However, large healthcare institutions and government organizations have significant bargaining power.

Bargaining power of suppliers: The market has several technology and service providers. This ensures low bargaining power of suppliers.

Threat of new substitutes: No major substitute currently exists for neuroplasticity treatment techniques. However, continuous technological advancements may lead to new alternatives.

Competitive rivalry: Major players operate globally and compete on the basis of product innovation, quality, and price. This leads to high competitive rivalry.

Key Takeaways

The global neuroplasticity market is expected to witness high growth over the forecast period.

Regional analysis: Europe holds a significant share of the market and is expected to maintain its leading position over the forecast period. This can be attributed to large patient pool, increasing geriatric population, and supportive government initiatives in countries like Germany, France, and the UK.

Key players: 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. Cushman & Wakefield is a global leader offering integrated workspace and asset solutions.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it