International Neurorehabilitation Devices Market – Overview
The Global Neurorehabilitation Devices Market is growing with the rapid pace; mainly due the burgeoning Healthcare Sector and the rising prevalence of neurological disorders.
According to a recent study report published by the Market Research Future, The global Neurorehabilitation Devices Market is booming and expected to gain prominence over the forecasted period. The Market is estimated to demonstrate a huge growth by 2022, surpassing its previous growth records in terms of value & volume. The market for Neurorehabilitation Devices is expected register an exponential growth by reaching ~ 2.25 Billion in 2022 with a striking CAGR.
Bioness, Inc., Bionik Labs, Bioxtreme, Denecor, Ectron Ltd., Ekso Bionics, Helius Medical Technologies, Hocoma AG, MagVenture A/S, Medtronic, Neuro Style, Rehab-Robotics Company Limited, Rehabtronics Inc., St Jude Medical Inc., and Tyromotion are some of the prominent players at the forefront of competition in the Global Neurorehabilitation Devices Market and are profiled in MRFR Analysis.
The Global Neurorehabilitation Devices Market is predominantly driven by increasing prevalence of neurological disorders and government funding. Heavy investments transpired in to the field of R&D by the manufacturers to develop advent devices provides impetus to the market growth.
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Rehabilitation of cognitive function involves methods for recalibrating neural pathways or training new neural pathways to improve cognitive functioning that has been weakened by trauma or other neurological disorders. The recent advancements in the technology can make a significant improvement in the recovery of the patients suffered from the head injury, stroke, spinal cord injury and some neurological conditions such as Parkinson’s disease. Some of the big companies in the business are employing robotics in the rehabilitation technologies in order to enhance the scope of the rehab process.
Neuro-rehabilitation services are essential in reducing post-stroke impairments, enhancing independence, and improving recovery in hospital and post-discharge. However these services are therapist-dependent and resource intensive. Patients’ disengagement and boredom in stroke units are common which adversely affect functional and psychological outcomes. Novel techniques such as use of iPads are increasingly researched to overcome such challenges.
In January 2017, a student research team conducted a study to determine the feasibility, effectiveness, acceptability, and barriers to the use of iPads in stroke neuro-rehabilitation. Studies were included in accordance with the review selection criteria. The majority of the studies focused on iPads use in speech and language therapy. Although of small scale, the studies highlighted that iPads are feasible, have the potential to improve rehabilitation outcomes, and can improve patient’s social isolation. Patients’ stroke severity and financial limitations are some of the barriers highlighted in this review. This review presents preliminary data supportive for the use of iPad technology in stroke neuro-rehabilitation. However, further research is needed to determine impact on rehabilitation goals acquisition, clinical efficacy, and cost-efficiency.
Worldwide Neurorehabilitation Devices Market – Competitive Analysis
The matured market of Neurorehabilitation Devices appears to be fiercely competitive & fragmented owing to the presence of numerous matured & small key players accounting for a substantial market share. These market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product & technology launch. They invest heavily in the R&D to develop a technology that is completely on a different level compared to their competition. These key players acknowledging need of the hour, develop a range of devices with advent technology and efficacies. For which they are adopting the technologies like IoT, robotics, nanotechnology, wearable technology & non-invasive medical technologies.
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Worldwide Neurorehabilitation Devices Market – Segmentations
For the convenience of the report and enhanced understanding; the report is segmented in to 4 key dynamics
By Product Types: Including Neuro-robotic devices, Wearable Devices, Brain Computer Interface, Non-Invasive Stimulators and other.
By End Users: Hospitals/clinics, cognitive care centers, research institutes, and other.
By Applications: Spinal Cord Injury, Stroke, Brain Trauma Injury, Parkinson’s disease, Schizophrenia, Cerebral Palsy and other.
By Regions: Europe, North America, APAC and Rest of the World.
Worldwide Neurorehabilitation Devices Market – Geographical Analysis
North America market dominates the global Neurorehabilitation Devices market with the significant market share.
Factors such as, advancements in technology, coupled with the prevailing neurological disorders, availability of advanced infrastructure and growing awareness towards the advantages & efficacies of Neurorehabilitation Devices and centers are attributing to the growth of North America and Europe Market.
Asia-Pacific market is expected to be the fastest growing market for Neurorehabilitation Devices. However high cost associated with the purchase and implementation of these devices is impeding the regional market growth.
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