Acknowledging the heightened accruals this market is witnessing currently, Market Research Future (MRFR), in its recently published study report, asserts that the Global Neurorehabilitation Devices Market will register reach approximately USD 2.25 Bn. by 2022, registering a healthy 6.3% CAGR between 2016 -2022.
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Neurorehabilitation deals with the daunting challenges of learning to live with the various neurological conditions such as Alzheimer’s disease, ADHD, epilepsy, Parkinson’s disease, multiple sclerosis, brain tremor and spinal cord injuries, peripheral nervous disorders and amyotrophic lateral sclerosis.
Neurorehabilitation devices are used during the treatment of the above mentioned neurological disorders. In-addition to the recovery of people suffering from these disorders, neurorehabilitation devices also help the designers to better understand and formulate designs, measurement and control systems for biomedical devices used in the treatment. With the extensive research in the field of development of advent devices and compensatory strategies, these neurological devices can help to optimize the body function and hence, independence.
Global Neurorehabilitation Devices Market – Competitive Analysis
The matured market of neurorehabilitation devices appears to be fragmented and fiercely competitive due to the numerous matured & small key players churning the competition. These players try to gain a competitive edge through the strategic partnership, expansion, acquisition, collaboration, and product & technology launch.
They invest substantially in the R&D to develop a technology that is entirely on a different level compared to their competition. These key players acknowledging the 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.
The Neurorehabilitation Device Market leaders profiled in the MRFR analysis include Helius Medical Technologies, Bioness, Inc., Denecor, Ectron Ltd., Bioxtreme, Ekso Bionics, MagVenture A/S, Bionik Labs, Medtronic, Hocoma AG, Rehab-Robotics Company Limited, Rehabtronics Inc., Neuro Style, St Jude Medical Inc., and Tyromotion.
July 11, 2018 –Medline Industries, Inc., (US), a global manufacturer and distributor of medical products announced the acquisition of NeuroGym (Canada), a physical therapy and rehabilitation equipment maker.
June 12, 2018 – MindMaze SA (Switzerland), a leading global medical technology company announced receiving of FDA clearance for US distribution of its MindMotion Go, a gamified neurorehabilitation therapy platform for medium and light severity impairments able to be deployed in the patient’s home. Using motion capture technology based on the Microsoft Kinect, the Go engages patients with a range of activities set in displayed 3D environments that promote motor and task functions.
Global Neurorehabilitation Devices Market – Segmentations
MRFR has segmented its analysis into four key dynamics for the convenience of understanding;
By Product Type: Including Wearable Devices, Neuro-robotic devices, Brain Computer Interface, and Non-Invasive Stimulators among others.
By End-User :Hospitals, Cognitive Care Centers, Clinics, and Research Institutes, among others.
By Application : Stroke, Spinal Cord Injury, Brain Trauma Injury, Schizophrenia, Parkinson’s disease, and Cerebral Palsy among others.
By Region : Europe, North America, APAC, and the Rest-of-the-World.
Global Neurorehabilitation Devices Market – Geographical Analysis
The North American region accounts for the leading market for neurorehabilitation devices, globally, possessing a significant share. Europe and Asia Pacific region accounts for the second-largest and the third- largest markets, respectively.
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Technological advancements coupled with the increasing prevalence of neurological disorders, the presence of the well-established healthcare infrastructure, and growing awareness towards the advantages of neurorehabilitation devices are driving the market growth in the region.
The neurorehabilitation devices market in the European region is estimated to grow at a considerable CAGR over the forecast period. Favourable governmental initiatives and support fuel the market growth. The proliferation of healthcare sector backed by the resurging economy in the region is fostering the market growth radiantly. Germany among other European countries leads the market in the region.
The Asia Pacific region has emerged as a lucrative market for neurorehabilitation devices. Factors such as the vast development opportunities along with the continually developing healthcare infrastructure in the APAC region are propelling the market growth. Countries such as India, China & Japan account for the wide adoption of these devices and key growth contributors to the regional market. Conversely, the high cost associated with the purchase and implementation of these devices is impeding the market growth in the region.
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