Global Neurorehabilitation Devices Market: Information by Type (Neuro-Robotic Devices, Wearable Devices, Non-Invasive Stimulators, Brain-Computer Interfaces), Application (Brain Stroke, Parkinson's Disease, Multiple Sclerosis, Spinal Cord Injury, Cerebral Palsy, Schizophrenia, Others), End-User (Rehabilitation Centers, Hospitals Clinics, Home Care) and Region (Americas, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
Global Neurorehabilitation Devices Market is expected to register a CAGR of 16.4% during the forecast period and expected to hit USD 2,274.1 Million till 2025.
The primary goal of rehabilitation is to assist individuals with chronic disability or illness in attaining maximum functional mobility. Neurorehabilitation is a doctor-supervised program aimed at patients suffering from injuries or disorders related to the central nervous system. Neurorehabilitation helps in improving patients’ ability to function independently after they are diagnosed with a stroke, multiple sclerosis, brain tumor, Parkinson’s disease, epilepsy, and traumatic brain injuries, among other neurological disorders. The focus of neurorehabilitation devices is to improve the functioning of the nervous system or to look for new ways to achieve normal functioning.
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The rising neurological disorders, the emerging field of robotic rehabilitation, a surge in the geriatric population, and the effectiveness of the gaming system in neurorehabilitation are anticipated to drive the market growth of the global neurorehabilitation devices market. However, stringent regulatory policies and requirements of skilled professionals are expected to restrict the market growth.
MRFR recognizes the following companies as the Key Players in the Global Neurorehabilitation Devices Market— Hocoma AG (Switzerland) Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd (Israel), Eodyne (Spain), Neuro Rehab VR (US), Neofect (US), Bioness Inc. (US), Bionik Laboratories Corp. (Canada), Reha Technology AG (Switzerland), Rex Bionics Ltd (New Zealand), and Others.
The Global Neurorehabilitation Devices Market has been divided based on Type, Application, Deployment Model, Application, and End User.
The market, based on type, has been segregated into neuro-robotic devices, wearable devices, non-invasive stimulators, and brain-computer interfaces (BCIs).
Based on the application, the neurorehabilitation devices market has been divided into brain stroke, Parkinson's Disease, multiple sclerosis, spinal cord injury, cerebral palsy, schizophrenia, and others.
On the basis of end-user, it is bifurcated into rehabilitation centers, hospitals clinics, and home care.
The Global Neurorehabilitation Devices Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Rest of the World. The Americas is likely to hold the largest share of the global neurorehabilitation devices market during the assessment period owing to the rising numbers of neurological disease cases, increasing the number of product launches, growing geriatric population, and high investment in research for the development of neurorehabilitation devices in the region. For instance, in October 2016, Ba Ekso Bionics Holdings, Inc. launched Ekso GT with smart assist technology that allows patients to engage in rehabilitation therapy actively. The European market established substantial growth in the market due to the rising prevalence of neurological diseases, product approvals, high incidence of neurological diseases, and the presence of developed economies such as Germany, the UK, and France. For instance, in October 2017, Barron Associates, Inc. and Virtual Therapy Solutions, LLC, received CE Marking for its SaeboVR. This approval helped the company to sell its products in the European region Asia-Pacific is estimated to be the fastest-growing region in the global market due to the growing older population and the high number of neurological diseases cases fueling the growth of the neurorehabilitation devices market in the region. The neurorehabilitation devices market in rest of the world is expected to witness gradual growth due to the significant growth owing to the developing healthcare infrastructure, increasing neurological diseases, and the rising geriatric population.
Key Findings of the Study
The Global Neurorehabilitation Devices Market was valued at USD 0 Million in 2018 and is expected to register a CAGR of 16.4% during the assessment period.
The Americas accounted for the largest share of the global market due to the presence of established payers, increasing cases of neurological diseases, an increasing number of product launches, growing geriatric population, and high investment in research for the development of innovative neurorehabilitation devices.
Based on the type, the neuro-robotic devices segment accounted for the largest market share of 1% in 2018.
Based on the application, the brain stroke segment accounted for the largest market share of 9% in 2018.
Based on the end-user, the rehabilitation centers segment accounted for the largest market share of 2% in 2018.
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