Pune, March 10, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider research, the size of the Neurorehabilitation Market was evaluated at USD 1.29 billion in 2022, and it is anticipated to grow at a CAGR of 9% between 2023 and 2030, ultimately reaching USD 2.58 billion.
Market Overview
Neurorehabilitation is a branch of medical rehabilitation that focuses on the recovery and rehabilitation of individuals who have experienced damage to their nervous system. This damage can be due to a variety of factors, such as stroke, traumatic brain injury, spinal cord injury, multiple sclerosis, or Parkinson's disease. The goal of neurorehabilitation is to help individuals regain as much independence and quality of life as possible. This is achieved through a combination of therapies and interventions that are tailored to the specific needs of each individual.
Market Analysis
Neurorehabilitation is a growing market due to several factors that are driving its growth. The rise in the number of neurological disorders and the growing awareness among patients and care providers are major contributors. With an increasing number of elderly people across the world, the target patient population is also growing. The rise in neurological disorders is a significant contributor to the growth of the neurorehabilitation market. The number of people diagnosed with neurological disorders is increasing, which has created a demand for advanced treatment options. With advancements in medical technology, care providers can now diagnose and treat these disorders more efficiently, leading to better patient outcomes.
Key Company Profiles Listed in this Report Are:
- Abbott Laboratories
- BioScience Managers Ltd
- Helius Medical Technologies
- Medtronic Inc
- Hocoma AG
- Ekso Bionics Holdings Inc
- Bionik Laboratories Corp and More
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Impact of COVID-19 Pandemic:
The pandemic has brought about a shift in the way healthcare services are delivered, including neurorehabilitation. With social distancing protocols in place, there has been an increased adoption of telemedicine and virtual therapy sessions, which have been instrumental in ensuring continued care for patients. Virtual rehabilitation services have become more prevalent, and this trend is expected to continue post-pandemic.
Neurorehabilitation Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 1.29 Bn |
| Market Size by 2030 | US$ 2.58 Bn |
| CAGR | CAGR of 9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segments | • By Type (Wearable Devices, Neuro-Robotic Devices, Brain-Computer Interface (BCIs), Non-Invasive Stimulators) • By Application type (Parkinson's Disease, Spinal cord injury, Brain stroke, Cerebral palsy, Multiple sclerosis, Schizophrenia etc.) • By End-User type (Hospitals, Cognitive Care Centers, Clinics) |
| Key Regional Scope | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Key Regional Developments:
The neurorehabilitation market is experiencing significant growth, with North America being the largest regional segment. This growth is driven by several factors, including the increasing incidence rate of neurological diseases and a growing geriatric population. The Asia Pacific region is also poised to offer promising growth opportunities for the market. Companies are taking strategic initiatives to expand their operations in this region to tap into its potential.
Key Takeaway from Neurorehabilitation Market Study
- The global neurorehabilitation industry is seeing a rise in the demand for non-invasive methods of treatment. This trend is due to several factors, including advancements in non-invasive stimulators and increased awareness of the benefits of non-invasive treatment options.
- Hospitals have emerged as the dominant segment in the market, holding the largest market share. Hospitals offer comprehensive neurorehabilitation programs that include a range of therapies, such as physiotherapy, occupational therapy, speech therapy, and cognitive therapy.
Recent Developments Related to Neurorehabilitation Market
- Lupin, a leading pharmaceutical company, has recently opened a new neuro-rehabilitation center in India. The facility is designed to provide advanced treatment options and support for patients suffering from neurological disorders. The center's launch is a significant step towards improving the standard of care for patients with neurological disorders in India. It highlights the growing need for specialized care and support for individuals affected by these conditions.
- MindMaze, a Swiss-based neuroscience company, has recently launched its Izar neurological rehabilitation device in the United States and Europe. The innovative technology is designed to help patients recover from neurological conditions and injuries by providing personalized and immersive therapy. The launch of the Izar device in the United States and Europe is a significant step forward in the field of neurological rehabilitation. The device's innovative technology has the potential to revolutionize the way patients recover from neurological conditions and injuries.
Table of Contents – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Neurorehabilitation Market Segmentation, By Type
9. Neurorehabilitation Market Segmentation, By Application Type
10. Neurorehabilitation Market Segmentation, By End-User Type
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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