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.
Neurorehabilitation Device is basically a therapeutic device (handy electronic machines) used in rehabilitation programs for the patients recovering from neurological (central nervous system) damages & have lost the ability to perform routine activities even; due to injuries & diseases such as traumatic brain injury multiple sclerosis, stroke, brain tumor, epilepsy and Parkinson’s disease etc.
In addition, predominant factors driving the market growth include; increasing prevalence of neurological disorders, government funding programs, technological advancements etc. Some of well-established market players are employing robotics in the rehabilitation technologies in order to enhance the scope of the rehab process. Which in turn is contributing to the market growth. Heavy investments transpired in to the field of R&D by the manufacturers to develop devices with adept technology provide a large impetus to the market growth.
On the other hand, factors such as cost associated with the neurological rehabilitation programme along with the technological incompetence among the professionals are considered as market growth restricting factors. Also, scepticism of physicians towards the advancement & efficacies of these devices is likely to restrict the market growth.
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Neurorehabilitation Devices Market – Key Players
Some of the key players in this market are: 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., Tyromotion, and others.
January 24, 2018 – Helius Medical Technologies, Inc. (US) a leading global medical technology company in to neurological wellness, announced that partnering with the ARL (US Army Research Laboratory), it has executed a CRADA (Cooperative Research & Development Agreement) establishing a platform for collaborative research programs. Subsequently, Helius and ARL executed a Joint Work Statement (JWS) launching a research program to investigate Helius’ Portable Neuromodulation Stimulator (PoNS) for the enhancement of cognitive, emotional and physical readiness and response through mindfulness and meditation training.
Neurorehabilitation Devices Market – Segments
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.
Neurorehabilitation Devices Market – Regional Analysis
North America market dominates the Global Neurorehabilitation Devices Market with the significant market share. While Europe & Asia Pacific stand at the second & third positions respectively in terms of the 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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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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