Digital Neurotherapeutics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 362.63 Million |
| Market Size (2029) | USD 883.69 Million |
| CAGR (2024 - 2029) | 19.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Digital Neurotherapeutics Market Analysis
The Digital Neurotherapeutics Market size is estimated at USD 362.63 million in 2024, and is expected to reach USD 883.69 million by 2029, growing at a CAGR of 19.5% during the forecast period (2024-2029).
The major factors driving the digital neurotherapeutics market are the rising prevalence of neurological diseases and the growing adoption of digital technology in neurological care.
The rising prevalence of neurological diseases is expected to increase the demand for digital neurotherapeutics. For instance, as per the data by Alzheimer Europe in January 2023, Alzheimer's disease is the most prevalent neurodegenerative disease that affects 10 million individuals in Europe and is characterized by progressive, incapacitating memory loss and cognitive deficiencies brought on by a buildup of harmful proteins in the brain. Hence, the increasing demand for non-invasive digital neurotherapeutics treatment for this health condition may drive market growth over the forecast period.
The rising prevalence of Parkinson’s disease is also expected to drive the growth of the market over the forecast period. Digital therapeutics, i.e., treatments delivered remotely and enabled by modern technology, facilitate the provision of personalized, evidence-based, interdisciplinary interventions to manage the complexities associated with Parkinson's disease. As per the 2022 update from the Parkinson’s Foundation, nearly one million people in the United States are living with Parkinson's disease (PD). This number is expected to rise to 1.2 million by 2030. Hence, the rising prevalence of Parkinson’s disease is expected to drive the growth of the market over the forecast period.
Furthermore, the growing adoption of digital neurotherapeutics in the treatment of various neurological diseases is also expected to boost market growth. For instance, in February 2023, MindMaze, an AI-driven digital neurotherapeutics company, launched its Izar device in the United States and Europe. This device has applications in the treatment of stroke, Parkinson’s disease, Alzheimer’s disease, and traumatic brain injury (TBI). Hence, the launch of such devices increases the demand for accessibility and adoption of digital neurotherapeutics.
Thus, the rising prevalence of neurological diseases and the growing adoption of digital neurotherapeutics in the treatment of various neurological diseases are expected to drive the growth of the market studied over the forecast period. However, stringent regulatory requirements are expected to restrain the market growth over the forecast period.
Digital Neurotherapeutics Market Trends
The Multiple Sclerosis Segment is Expected to Hold Significant Market Share Over the Forecast Period
Individualized, innovative disease management is crucial for people with multiple sclerosis (MS) to cope with the complexity of this chronic, multidimensional disease. However, an individual state-of-the-art strategy, with precise adjustment to the patient’s characteristics, is still far from being part of the everyday care of MS. The development of digital neurotherapeutics decisively advances the necessary implementation of individualized, innovative management of MS.
The rising prevalence of multiple sclerosis and the increasing accessibility of digital neurotherapeutics across the world for the treatment of MS are expected to drive the revenue of the multiple sclerosis segment over the forecast period. For instance, according to the National Multiple Sclerosis Society report published in August 2022, around 1.0 million people in the United States and about 2.8 million people worldwide were living with multiple sclerosis in 2022. Hence, the high prevalence of multiple sclerosis is expected to drive the growth of the market studied over the forecast period.
Furthermore, the increasing accessibility of digital neurotherapeutics increases the utilization of these therapeutics, which may further drive the segment revenue over the forecast period. For instance, in May 2022, MindMaze Healthcare, a digital neurotherapeutics provider, entered into an agreement with the Surgicorps, a non-profit organization whose mission is to provide free surgical and medical care to people to increase the accessibility of digital neurotherapeutics (DTx) solutions for the treatment of various neurological diseases in Latin America, the Middle East, Spain, and Switzerland. Hence, such improvements are expected to drive the growth of the market studied over the forecast period.
Hence, the rising prevalence of multiple sclerosis and increasing accessibility of digital neurotherapeutics across the globe are expected to drive the growth of the market studied over the forecast period.
North America is Expected to Hold a Significant Share of the Market During the Forecast Period
The geographical analysis of the digital neurotherapeutics market shows that North America is expected to hold a significant market share in the global market. This is due to the increasing investments in the development of novel digital neurotherapeutics, advanced healthcare infrastructure, and the increasing prevalence of neurological disorders such as depression, Alzheimer's, and Parkinson’s diseases.
The growing investment in the development of new neurotherapeutics increases the launch of new solutions, which may drive the growth of the market studied over the forecast period. For instance, in February 2022, MindMaze, a digital neurotherapy company, raised USD 105 million in funding from AlbaCore Capital Group and Hambro Perks. MindMaze provides game-like therapies and assessment tools for rehabilitation and treatment of neurodegenerative diseases and brain injuries. The company planned to use this funding to speed its global commercialization plans, accelerate research and development, and fund growth and acquisitions. Hence, such huge investments in the development of digital neurotherapeutics are expected to drive the growth of the market studied over the forecast period.
Furthermore, the increasing number of neurological disorders in the region is also expected to boost market growth over the forecast period. For instance, according to the report published by the Alzheimer Society of Canada in September 2022, by 2050, more than 1.1 million Canadians are expected to have Alzheimer's disease, making it the most common type of dementia overall. Hence, the rising prevalence of neurological disorders such as Alzheimer's disease may increase the demand for digital neurotherapeutics and drive market growth over the forecast period.
Hence, the increasing investments in the development of digital neurotherapeutics and the rising number of neurological disorders in North America are expected to drive the growth of the market studied over the forecast period.
Digital Neurotherapeutics Industry Overview
The digital neurotherapeutics market is fragmented in nature due to the presence of several companies operating globally as well as regionally. Furthermore, with technological innovations in neurotherapeutics and the growing price competition, some new companies are also penetrating the market. Some of the key players in the market include Akili Inc., Otsuka Precision Health Inc., AppliedVR Inc., and BigHealth.
Digital Neurotherapeutics Market Leaders
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Akili, Inc.
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AppliedVR
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BigHealth
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AdvancedMD
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Neofect Co, Ltd
*Disclaimer: Major Players sorted in no particular order
Digital Neurotherapeutics Market News
- February 2024: The University of London's neurotherapeutics group launched the iTalkBetter app. This app provides speech therapy for people with language disorder aphasia, which has been found to improve their ability to talk significantly.
- October 2023: MedRhythms reported that InTandem (MR-001) was available for prescription for at-home use to improve walking and ambulation in adults living with chronic stroke walking impairments. InTandem is an evidence-based neurorehabilitation system based on the principles of rhythmic auditory stimulation (RAS), an established and standardized intervention utilizing the mechanism of action of auditory-motor entrainment.
Digital Neurotherapeutics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Neurological Disorders
4.2.2 Growing Adoption of Digital Technology in Neurology Care
4.3 Market Restraints
4.3.1 Stringent Regulatory Requirements
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Component
5.1.1 Software
5.1.2 Hardware
5.1.3 Services
5.2 By Indication
5.2.1 Alzheimer’s Disease
5.2.2 Parkinson’s Disease
5.2.3 Multiple Sclerosis
5.2.4 Epilepsy
5.2.5 Other Indications
5.3 By End User
5.3.1 Patients
5.3.2 Providers
5.3.3 Payers
5.3.4 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Akili Inc.
6.1.2 AdvancedMD Inc.
6.1.3 AppliedVR Inc.
6.1.4 BigHealth
6.1.5 Blackrock Neurotech
6.1.6 Cognivive Inc.
6.1.7 Neofect Co. Ltd
6.1.8 Omada Health Inc.
6.1.9 Neurotherapeutic Pediatric Therapies Inc.
6.1.10 Mindmaze
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Digital Neurotherapeutics Industry Segmentation
As per the scope of the report, digital neurotherapeutics are evidence‐based, clinically evaluated software to treat, manage, and prevent a broad spectrum of neurological diseases and disorders.
The digital neurotherapeutics market is segmented by components, indication, end users, and geography. By component, the market is segmented into software, hardware, and services. By indication, the market is segmented into Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, epilepsy, and other indications. By end user, the market is segmented into patients, providers, payers, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers market sizes and forecasts in terms of value (USD) for the above segments.
| By Component | |
| Software | |
| Hardware | |
| Services |
| By Indication | |
| Alzheimer’s Disease | |
| Parkinson’s Disease | |
| Multiple Sclerosis | |
| Epilepsy | |
| Other Indications |
| By End User | |
| Patients | |
| Providers | |
| Payers | |
| Other End Users |
| Geography | ||||||||
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Digital Neurotherapeutics Market Research FAQs
How big is the Digital Neurotherapeutics Market?
The Digital Neurotherapeutics Market size is expected to reach USD 362.63 million in 2024 and grow at a CAGR of 19.5% to reach USD 883.69 million by 2029.
What is the current Digital Neurotherapeutics Market size?
In 2024, the Digital Neurotherapeutics Market size is expected to reach USD 362.63 million.
Who are the key players in Digital Neurotherapeutics Market?
Akili, Inc., AppliedVR, BigHealth, AdvancedMD and Neofect Co, Ltd are the major companies operating in the Digital Neurotherapeutics Market.
Which is the fastest growing region in Digital Neurotherapeutics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Digital Neurotherapeutics Market?
In 2024, the North America accounts for the largest market share in Digital Neurotherapeutics Market.
What years does this Digital Neurotherapeutics Market cover, and what was the market size in 2023?
In 2023, the Digital Neurotherapeutics Market size was estimated at USD 291.92 million. The report covers the Digital Neurotherapeutics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Digital Neurotherapeutics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Digital Neurotherapeutics Industry Report
Statistics for the 2024 Digital Neurotherapeutics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Digital Neurotherapeutics analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
