Market Highlights
Market Research Future (MRFR) analyzed the Global Neurorehabilitation Devices Market 2020 across the study period till 2025. The neurorehabilitation device market can expand at 16.4% CAGR in the forecast period. By 2025, the neurorehabilitation device market can value at USD 2,274.1 Mn. The rise in cases of chronic disability in functional mobility is observed to boost the need for neurorehabilitation devices. The growing number of neurological treatment centers and rise in the adoption of modern technologies by them for assistance in treatment can underpin expansion of the market. Modern care includes neurorehabilitation devices, such as; neuro robotic system, and neurorehabilitation wearables. The growing preference for such solutions among the increase in number of patients suffering from neurological conditions can favor the market in the years to come. The emerging trend of gaming system in neurorehabilitation solutions can add to the market rise across the study period. However, stringent regulatory norms and lack of professionals can restrict the market surge.
Market Segmentation
The segment study of the Global Neurorehabilitation Devices Market Growth is based on type, end-user, and application.
- The type-based segments of the market are wearable devices, neuro-robotic devices, brain-computer interfaces, and non-invasive stimulators. The wearable devices segment can rise at 16.8% CAGR in the analysis period.
- The application-based segments of the global neurorehabilitation devices market are brain stroke, multiple sclerosis, Parkinson’s Disease, spinal cord injury, schizophrenia, and cerebral palsy among others. The brain stroke segment can acquire about 37.9% share of the market as rise in incidences of brain strokes across the world is observed.
- The end-user-based segments of the neurorehabilitation devices market are home care, rehabilitation centers, and hospitals clinics. The rehabilitation centers segment can hold about 52.2% share of the worldwide market as the number of rehabilitation centers is rising across the globe. The impact of COVID 19 is expected to boost the demand for home care. Thus, the home care segment can reinforce the market surge.
Key Players
- Hocoma AG (Switzerland),
- ReWalk Robotics Ltd (Israel),
- Ekso Bionics Holdings, Inc. (the US),
- Eodyne (Spain),
- Neuro Rehab VR (US),
- Bionik Laboratories Corp. (Canada),
- Neofect (US),
- Bioness Inc. (US),
- Reha Technology AG (Switzerland), and
- Rex Bionics Ltd (New Zealand)
are some key players in the global neurorehabilitation devices market that are studied by MRFR to gain detailed understanding of the competition landscape.
Regional Analysis
The Americas market can be leading the global neurorehabilitation devices market in the review period. The US can hold the largest share of the regional market as well-established players are identified as hotspots for revenue earnings. The surge in neurological diseases and increase in product launches, can favor the regional market in the near future. The increase in investment in research and development of new neurorehabilitation devices and expansion of ageing group can also promote the regional market in the analysis tenure.
Europe neurorehabilitation devices market can surge exponentially in the review period. The growing prevalence of neurological diseases and quick product approvals can favor expansion of the market in the near future.
In Asia Pacific, the neurorehabilitation devices market can rise at considerable pace due to increase in neurological issues. The gradual increase in Parkinson’s Disease creating the demand for such devices can significantly favor the regional market rise.
The expansion of the neurorehabilitation devices market in the MEA region in the review period is likely to be significant. The developing healthcare infrastructure and expansion of neurological diseases patient pool can favor the regional market growth. In Africa, lack of effective healthcare base can hinder the market rise in the study period.
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