Neurorehabilitation Devices Market Analysis
The neurorehabilitation devices market is anticipated to touch USD 2.25 billion between 2013-2022, states the latest Market Research Future (MRFR) report. Neurorehabilitation devices are therapeutic devices that are utilized in rehabilitation programs. It deals with daunting challenges to learn to live with different neurological conditions including amyotrophic lateral sclerosis, peripheral nervous disorders, spinal cord injuries, brain tremor, multiple sclerosis, Parkinson’s disease, epilepsy, ADHD, and Alzheimer’s disease. Besides, it also assists designers in understanding and better formulating designs, control systems, and measurement for biomedical devices utilized in the treatment.
Various factors are propelling the neurorehabilitation devices market growth. Such factors, as per the latest Market Research Future report, include the proliferation of technologies, especially IoT, AI, and AR and their integration, increasing programs and government funding in the developing regions for supporting research and development activities used for launching new devices, and various technological advancements. Additional factors pushing neurorehabilitation devices market growth include growing robotics and neurorehabilitation wearables, increasing prevalence of neurological diseases worldwide such as Parkinson’s disease, stroke, and multiple sclerosis, improving economic conditions which enable access to improved healthcare and quality care worldwide and changing lifestyle due to industrialization and urbanization.
On the contrary, unavailability of experts to handle neurorehabilitation devices, inadequate disposable income especially in developing economies, absence of personalized home care neurorehabilitation devices, and high costs of the devices are factors that may impede the neurorehabilitation devices market growth during the forecast period.
Neurorehabilitation Devices Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the neurorehabilitation devices market on the basis of product type, end user, and application.
By product type, the neurorehabilitation devices market is segmented into non-invasive stimulators, brain-computer interface, neuro-robotic devices, wearable devices, and others. Of these, the neuro-robotic devices segment will lead the market over the forecast period.
By end user, the neurorehabilitation devices market is segmented into research institutes, clinics, cognitive care centers, hospitals, and others.
By application, the neurorehabilitation devices market is segmented into Cerebral Palsy, Parkinson’s disease, Schizophrenia, Brain Trauma Injury, Spinal Cord Injury, Stroke, and others.
Neurorehabilitation Devices Market Regional Analysis
By region, the neurorehabilitation devices market report covers the latest trends and growth opportunities across the Asia Pacific, North America, Europe, and the Rest of the World. Of these, North America will dominate the market during the forecast period. Factors pushing the growth of the neurorehabilitation devices market in the region include growing awareness about the perks of using these devices, the presence of developed healthcare infrastructure, rising incidence of neurological disorders, and various technological advancements.
The neurorehabilitation devices market in Europe will have the second-largest share in the market during the forecast period. Factors pushing the growth of the neurorehabilitation devices market in the region include the region’s resurging economy, the proliferation of the healthcare industry, and favorable government initiatives. Germany is the chief contributor in the region.
The global neurorehabilitation devices market in the Asia Pacific region is predicted to have a lucrative growth during the forecast period. Factors pushing the growth of the neurorehabilitation devices market in the region include the wide adoption of neurorehabilitation devices in the region, the presence of leading players, vast development opportunities, and constantly expanding healthcare infrastructure. Japan, India, as well as China are the chief contributors in the region.
The neurorehabilitation devices market in the Rest of the World will have a notable growth during the forecast period.
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Neurorehabilitation Devices Market Key Players
Notable players profiled in the neurorehabilitation devices market report include Tyromotion, St Jude Medical Inc., Neuro Style, Rehabtronics Inc., Rehab-Robotics Company Limited, Hocoma AG, Medtronic, Bionik Labs, MagVenture A/S, Ekso Bionics, Bioxtreme, Ectron Ltd., Denecor, Bioness, Inc., and Helius Medical Technologies. Key players have incorporated different strategies to stay ahead in the competition, such as research and development activities, joint venture/partnerships, collaborations, new product launches, and more.
Neurorehabilitation Devices Industry News
October 2019: Researchers in China and the US have joined hands to create a soft, stretchable robotic device that comes with a tactile sensory skin that is neurologically integrated.