Neuroplasticity refers to the brain's ability to reorganize itself by forming new neural connections throughout life based on experiences. Neuroplasticity based therapies help enhance cognition for those affected by neurological conditions. Advances in neuroplasticity based therapies help treat conditions like stroke, depression, Alzheimer’s, and chronic pain through methods like cognitive training.
The global Neuroplasticity Market is estimated to be valued at US$ 6.61 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Advances in neuroplasticity based therapies leverages the brain's ability to rewire its neural pathways and form new connections. Research shows cognitive and physical training increases thickness in relevant areas of the cerebral cortex which enhances brain plasticity. This helps patients regain functions affected by conditions like stroke. Development of advanced personalized therapies that precisely target neural circuits driving individual symptoms also accelerate recovery. Widespread adoption of such therapies supports strong growth of the neuroplasticity market over the forecast period.
Segment Analysis
The global neuroplasticity market can be segmented based on product type, application, and end-user. Based on product type, the market is divided into brain stimulation and brain monitoring. Brain stimulation sub-segment dominates the market and is expected to continue its dominance over the forecast period due to the increasing applications of brain stimulation techniques like deep brain stimulation and vagus nerve stimulation in treatment of neurological disorders like stroke, Parkinson's disease, epilepsy and depression.
Key Takeaways
The Global Neuroplasticity Market Size is expected to witness high growth. The global Neuroplasticity Market is estimated to be valued at US$ 6.61 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.
Regional analysis related content comprises Regional analysis related content: The North America region holds the largest share of the market currently due to early adoption of new technologies and increasing prevalence of neurological disorders in the region. However, Asia Pacific is expected to emerge as the fastest growing region owing to growing medical tourism, increased healthcare expenditure in countries like India and China.
Key players related content comprises Key players related content: 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.
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