According to IMARC Group latest report titled “Neurorehabilitation Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on neurorehabilitation devices market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global neurorehabilitation devices market size reached US$ 1.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2027, exhibiting a growth rate (CAGR) of 12.26% during 2022-2027.
Neurorehabilitation devices are the instruments used to examine the central nervous system (CNS) and the brain. Commonly utilized equipment includes non-invasive brain stimulators, prosthetics, robotic systems, brain-computer interfaces, etc. Neurorehabilitation devices assist in diagnosing and treating diseases, injuries, or disorders in the nervous system of the patient. These instruments facilitate in re-learning motor skills and optimal recovery from cardiovascular strokes. As a result, neurorehabilitation devices find widespread applications across various clinics, cognitive care, research institutes, healthcare centers, hospitals, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The escalating prevalence of neurological conditions, including Parkinson’s disease, multiple sclerosis, and cerebral palsy, is among the primary factors driving the neurorehabilitation devices market. Besides this, the elevating utilization of novel multi-electrode stimulation for the treatment of spinal cord injuries is further augmenting the market growth. Moreover, several technological advancements, such as artificial intelligence (AI) and the gamification of neurorehabilitation devices through virtual reality (VR), to aid in promoting healing is also catalyzing the global market. Moreover, the growing geriatric population, the expanding healthcare infrastructures, and the increasing expenditure capacities of individuals are acting as significant growth-inducing factors. Furthermore, the rising need for this equipment to assist in deploying diversified electric signals to multiple fibers of the body for the recovery of limb movements is expected to bolster the neurorehabilitation devices market in the coming years.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Biometrics Ltd, Bioness Inc.
- Bionik Laboratories Corp
- BioXtreme Ltd.
- Boston Scientific Corporation
- Ectron Ltd
- Ekso Bionics
- Hocoma AG (DIH International Limited)
- Kinestica
- Kinova Inc.
- Medtronic plc
- Saebo Inc
- Tyromotion GmbH
Neurorehabilitation Devices Market Segmentation:
Our report has categorized the market based on region, product type, application and end use.
Breakup by Product Type:
- Neurorobotic Devices
- Wearable Devices
- Non-Invasive Stimulators
- Brain-Computer Interface
Breakup by Application:
- Stroke
- Multiple Sclerosis
- Parkinson’s Disease
- Cerebral Palsy
- Others
Breakup by End User:
- Hospitals and Clinics
- Cognitive Care Centers
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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