Neuroplasticity refers to the brain's ability to form and reorganize synaptic connections throughout life in response to changes in one's environment, experiences, or injuries. Neuroplasticity therapeutics aim to enhance neuroplasticity in brain diseases such as Alzheimer's disease and traumatic brain injury. Neuroplasticity therapeutics include physical therapy, cognitive training, pharmacological interventions, and lifestyle modifications. They help in treatment, recovery, and rehabilitation from neurological injuries or diseases by promoting the formation of alternate neural pathways. 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:

The neuroplasticity market is being driven by the growing number of neurological disorders and road accidents worldwide. Neurological disorders like Alzheimer's disease, Parkinson's disease, stroke, multiple sclerosis, traumatic brain injuries, and spinal cord injuries are rising at an alarming rate. Neuroplasticity therapeutics help in faster recovery and rehabilitation from such conditions. Moreover, increasing awareness regarding neuroplasticity-based therapies and various rehabilitation programs for brain injuries is also propelling the adoption of neuroplasticity therapeutics. Continuous research and development activities to expand the therapeutic application of neuroplasticity is further expected to present lucrative opportunities for market players over the forecast period.

Segment Analysis

The global neuroplasticity market is dominated by the rehabilitation sub segment. Rehabilitation services aims to help recover ability lost as a result of damage to the nervous system and to improve or restore physical, mental or functional abilities that have been diminished or lost. The rehabilitation sub segment accounts for over 50% of the total market share as neuroplasticity promotes brain changes that can help people regain abilities that were lost due to injury or illness and can train and exercise the brain to form new connections.

Key Takeaways

The Global Neuroplasticity Market Size is expected to witness high growth driven by growing geriatric population, increasing prevalence of neurodegenerative diseases and continuous advancements in the field of neuroscience.

Regional analysis

The North America region currently dominates the global neuroplasticity market due to high healthcare spending and presence of major market players in the region. Asia Pacific region is expected to witness fastest growth over the forecast period owing to increasing disposable incomes, growing awareness about neuroplasticity and expanding healthcare infrastructure in emerging economies of the region.

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.

Get More Insights Here

https://www.newswirestats.com/neuroplasticity-market-size-share-growth-outlook-2023/