Neurorehabilitation Devices Market By Product Type (Neurorobotic Systems, Non-invasive Stimulators, Wearable Devices and Brain-computer Interface), By Application (Brain Stroke, Spinal Cord Injury, Parkinson’s Disease, Cerebral Palsy and Brain Trauma Injury), By End User (Hospitals/Clinics, Cognitive Care Centers and Research Institutes) - Analysis & Forecast 2019-2030
Report ID : 250 | Published Date : Jun 2020 | Pages : 170 | Region : Global | Report Code : MD-72
Neurorehabilitation Devices Market Introduction & Overview
WHO defines rehabilitation as “an active process by which those affected by injury or disease achieve a full recovery or, if a full recovery is not possible, realize their optimal physical, mental and social potential and are integrated into their most appropriate environment”. Neurological rehabilitation more specifically refers to doctor-supervised program for people suffering with diseases, injury, or disorders of the nervous system. It helps in improving function, reducing symptoms, and aids in improving the overall well-being of the patient. Neurorehabilitation is beneficial for treating conditions such as ischemic strokes, hemorrhagic strokes, meningitis, encephalitis, polio, brain abscesses, and other brain and spinal cord related injuries. Neurorehabilitation centers are employed with devices based on modern technology for brain and spinal cord examinations such as neuro-robotic devices, brain computer interface, non-invasive stimulators and wearable devices among others.
The global neurorehabilitation devices market is driven by increasing geriatric population, rising incidence of neurological disorders and emergence of several new & potent therapies for treating neurological disorders. Moreover, the launch of new products based on advanced technologies is contributing to the growth of neurorehabilitation devices market. However, the high cost associated with treating neurological disorders and lack of neurorehabilitation centers in several regions hampers the market growth.
The global neurorehabilitation devices market is segmented by product type, application, end user and region.
Neurorehabilitation Devices Market by Product Type
On the basis of product type, the neurorehabilitation devices market is segmented into neurorobotic systems, non-invasive stimulators, wearable devices and brain-computer interface. The neurorobotic systems segment is estimated grow at a robust CAGR. The large share of this segment can be attributed to factors such as, increasing technological support of robotic-based therapy, by administration of physical exercises to the upper or lower extremities for promoting faster neuro-motor recovery. For instance, in December 2018, BIONIK Laboratories Corp collaborated with Kindred Hospital Rehabilitation Services for providing multiple units of the Company’s InMotion Arm robotic system to help patients regain mobility after stroke and neurological impairment.
Neurorehabilitation Devices Market by Application
On the basis of application, the market can be segmented into brain stroke, spinal cord injury, Parkinson’s disease, cerebral palsy, brain trauma injury and others. The segment of brain stroke is estimated to grow at a robust CAGR. The rising incidence of brain strokes globally is contributing to the growth of this segment. For instance, according to the World Health Organization (WHO), each year 15 million people suffer from stroke globally, out which 5 million patients die and the remaining are permanently disabled.
Neurorehabilitation Devices Market by End User
Based on end user, the neurorehabilitation devices market can be segmented into hospitals/clinics, cognitive care centers and research institutes. The segment of hospitals/clinics is estimated to grow at the highest rate during the forecast period owing to the implementation and adoption of new neurorehabilitation devices in hospitals for treating several neurological disorders.
Neurorehabilitation Devices Market by Region
The global neurorehabilitation devices market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of neurorehabilitation devices market, followed by Europe and Asia Pacific. North America dominates the global neurorehabilitation devices market owing to factors such as extensive research activities, presence of advanced healthcare infrastructure and increasing investments for development of rehabilitation centers in this region is contributing in market growth. However, Asia Pacific is expected to witness the highest CAGR, with the growth of the market centered at China, India and Japan. Factors such as increasing incidence of neurological disorders, extensive research & development and increasing collaborations by key players in this region can be attributed to the rapid growth of the market.
Neurorehabilitation Devices Market Prominent Players
Some prominent players in the neurorehabilitation devices market include Medtronic, Ectron, Abbott, Boston Scientific Corporation, Ekso Bionics, MagVenture, Inc., Hocoma, Neuro Style, Neofect, and Tyromotion GmbH among others.