Neurorehabilitation Devices Market Size, Growth and Analysis by product type (Neuro-robotic devices, wearable devices, non-invasive stimulators, brain computer interface), by Application (Parkinson’s disease, spinal cord injury, brain trauma injury, stroke, cerebral palsy, Schizophrenia, and others) by end user (Hospitals/clinics, cognitive care centers, research institutes, and others) – Forecast to 2022
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.
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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 a complete segmental analysis of the neurorehabilitation devices market report based on type, application, and end user.
Based on 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 neurorobotics segment will have the largest share in the market over the forecast period. This is owing to the high availability of prosthetics and exoskeletons to treat movement disabilities.
Based on end user, the neurorehabilitation devices market is segmented into research institutes, clinics, cognitive care centers, hospitals, and others.
Based on 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 North America, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will remain the driving force in the market over the forecast period. This is owing to increasing incidences of neurological disorders, technological advancements, growing awareness about the benefits of neurorehabilitation devices, and the presence of well-established healthcare infrastructure.
The neurorehabilitation devices market in Europe is predicted to have considerable growth over the forecast period. This is owing to government support, favorable government initiatives, a resurging economy, and the proliferation of the healthcare sector. Germany is the chief contributor in the region.
The neurorehabilitation devices market in the APAC region is predicted to have a lucrative growth over the forecast period. This is owing to the constantly developing healthcare infrastructure and vast development opportunities. Japan, China, and India are the key contributors in this region.
Neurorehabilitation Devices Market Key Players
Leading 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 market players have embraced vital technologies for enhancing their product portfolios such as robotics, nanotechnology, and Internet of Things.
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