New York, United States , May 27, 2024 (GLOBE NEWSWIRE) -- The Global Neurorehabilitation Devices Market Size is to Grow from USD 1.9 Billion in 2023 to USD 6.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 12.55% during the projected period.
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Neurorehabilitation devices are a subset of medical devices that aid in regaining the function and independence of individuals with neurological disorders such as stroke. These include noninvasive brain stimulation devices that provide repetitive transcranial magnetic stimulation or transcranial direct current stimulation, which can re-modulate an injured brain. The reorganization of brain activity and achievement of improved brain activation by these devices facilitate the recovery of a flaccid limb. Technologies such as robotics, virtual reality, and telerehabilitation are suitable add-ons or complement to physical therapy. The novel technology, robotic devices are increasingly being employed during clinical practice, to boost patients’ recovery. The integration of artificial intelligence and machine learning can lead to more adaptive and responsive therapies. Furthermore, the use of BCI in stroke neurological rehabilitation is a new attempt in modern rehabilitation. The high prevalence of neurological disorders like Parkinson’s disease, multiple sclerosis, and stroke are driving the market demand for neurorehabilitation devices. Further, the growing geriatric population is propelling the market growth. Technological development and increasing investment in R&D activities for neurological rehabilitation are significantly driving the market. On the contrary, the lack of skilled personnel and the high cost of neurorehabilitation devices are restraining the global neurorehabilitation devices market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Neurorehabilitation Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Neurorobotics, Brain-Computer Interface, Wearable Devices, Non-Invasive Stimulators, and Others), By Therapy Area (Stroke, Parkinson’s Disease, Multiple Sclerosis, Cerebral Plasy, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The neurorobotics segment dominated the global neurorehabilitation devices market in 2023.
Based on the product, the global neurorehabilitation devices market is segmented into neurorobotics, brain-computer interface, wearable devices, non-invasive stimulators, and others. Among these, the neurorobotics segment dominated the global neurorehabilitation devices market in 2023. The cutting-edge method of treating neurological diseases that integrates robotics, rehabilitation, and neuroscience is involved in neurorobotics systems. The rising incidence of neurological illnesses and the launch of innovative technologies in rehabilitation therapy is driving the market.
The stroke therapy segment dominates the market with the largest revenue share in 2023.
Based on therapy area, the global neurorehabilitation devices market is segmented into stroke, parkinson’s disease, multiple sclerosis, cerebral plasy, and others. Among these, the stroke therapy segment dominates the market with the largest revenue share in 2023. Rehabilitation therapy for stroke victims aids in the relearning of previously lost skills. About 650,000 people in America survive a new stroke. And 7 million of them deal with its aftereffects. The increasing acceptance and use of stroke rehabilitation are enhancing the market growth.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The growing awareness and improvement in healthcare infrastructure in the region are also driving the market. Further, the increasing aging population particularly in the U.S. and Canada is responsible for enhancing the market demand for neurorehabilitation devices as these age group populations are more prone to cause neurological disorders.
Asia-Pacific region is expected to grow the fastest during the forecast period. The increasing aging population as well as increased lifestyle stress, and growing incidence of hypertension due to unhealthy lifestyle are significantly contributing to market demand in the region. Furthermore, the increasing patient affordability and improvement in the diagnosis quality are driving the market. The lucrative growth opportunities in developing countries are likely to contribute to regional market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Neurorehabilitation Devices Market are Bionik Laboratories Corp. (BNKL), Abbott Laboratories, Ectron, Hocoma (DIH International Ltd.), Bioventus, Biometrics Ltd., Medtronic, Tyromotion Inc., BioXtreme Ltd., Ekso Bionics, REHABTRONICS INC, Kinestica, Kinova Inc., Saebo, Inc., and Others Key Players.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global neurorehabilitation devices market based on the below-mentioned segments:
Global Neurorehabilitation Devices Market, Product
- Neurorobotics
- Brain-Computer Interface
- Wearable Devices
- Non-Invasive Stimulators
- Others
Global Neurorehabilitation Devices Market, Therapy Area
- Stroke
- Parkinson’s Disease
- Multiple Sclerosis
- Cerebral Plasy
- Others
Global Neurorehabilitation Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
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