Neurorehabilitation Device Market -Overview
Neurorehabilitation devices such as neurorobotic systems, brain-computer interfaces, non-invasive brain stimulators, and wearable gadgets are becoming increasingly popular, adding to market growth. According to MRFR, the Neurorehabilitation Device Market will reach USD 793 million in revenue by 2025, with a CAGR of 16.4 percent.
Neurorehabilitation assists patients in regaining their ability to operate independently. The goal of neurorehabilitation devices is to improve nervous system function or find novel techniques to reach normal function. Expanding neurological illnesses, an uptick in the senior population, the burgeoning area of robotic rehabilitation, and the efficiency of gaming systems in neurorehabilitation are projected to boost the neurorehabilitation devices market.
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The market for neurorehabilitation devices has been segmented by application, which includes brain stroke, Parkinson’s disease, multiple sclerosis, spinal cord injury, cerebral palsy, and schizophrenia. Based on the type, neuro-robotic devices, non-invasive stimulators, wearable devices, and brain-computer interfaces have been categorized (BCIs). The neurorehabilitation devices market is divided into four regions: North America, Europe, Asia-Pacific, and the rest of the world. The market is split into three end-user categories: hospitals and clinics, rehabilitation centers, and home care.
Detailed Regional Analysis
The neurorehabilitation devices market is divided into regions such as Asia-Pacific, North America, Europe, and other prominent regions. The North American market for neurorehabilitation equipment is projected to be the biggest. Along with the growing older population, which has resulted in a high prevalence of Parkinson’s and Alzheimer’s disease, central government subsidies and investments in diagnosing and preventing neurological illnesses will drive regional market growth. The majority of the world’s crippled population lives in the Asia Pacific, which is anticipated to expand dramatically in the future years. Nonetheless, the upsurge of wearable technology and robots will significantly impact the development of neurorehabilitation devices, driving researchers and device makers to develop new inventive solutions to meet worldwide market demands.
The effectiveness of core sectors on a global scale is projected to augment the expansion of the global market in the approaching period. The overall development prospects of market participants are predicted to boost progressively as the impact of the COVID-19 epidemic lessens. The optimism about COVID-19-related therapeutic techniques, such as vaccines, being pushed out in various locations is forecast to expand market sentiment further. The emergence of global firms into important developing regional markets is considered to have a positive impact that will spread to other industry segments. The involvement of governmental organizations in promoting market development is projected to be critical through the provision of special incentives to attract global titans to certain locations and contribute to market development during the forecast period. Furthermore, improved economic relations between numerous nations are expected to provide further opportunities for growth in the coming years.
The well-known contenders in the neurorehabilitation devices market are Ekso Bionics Holdings, Inc. (US), Neuro Rehab VR (US), Reha Technology AG (Switzerland), ReWalk Robotics Ltd (Israel), Neofect (US), Bioness Inc. (US), Bionik Laboratories Corp. (Canada), Rex Bionics Ltd (New Zealand), Eodyne (Spain), and Hocoma AG (Switzerland).
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Dec 2021 Sakra World Hospital, a major healthcare institution, has opened the first Robotic Assisted Neuro-Rehabilitation Center in Karnataka. Sakra Rehabilitation is the most reputable advanced rehabilitation facility, offering Prehab and Rehab as Inpatient, Outpatient, and Home-based Tele-Rehabilitation services. Residents in the dedicated rehab HDU unit are getting early intervention, which begins within a few days of a stroke or neurosurgery.
Table of Content
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION 15
2.2 SCOPE OF THE STUDY 15
2.3 RESEARCH OBJECTIVE 15
2.4 MARKET STRUCTURE 15
2.5 ASSUMPTIONS & LIMITATIONS 16
3 RESEARCH METHODOLOGY
3.1 DATA MINING 17
3.2 SECONDARY RESEARCH 18
3.3 PRIMARY RESEARCH 19
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 20
3.5 FORECASTING TECHNIQUES 20
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 21
3.6.1 BOTTOM-UP APPROACH 22
3.6.2 TOP-DOWN APPROACH 23
3.7 DATA TRIANGULATION 23
3.8 VALIDATION 23
4 MARKET DYNAMICS
4.1 OVERVIEW 24
4.2 DRIVERS 25
4.2.1 RISING NEUROLOGICAL DISORDERS 25
4.2.2 EFFECTIVENESS OF GAMING SYSTEM IN NEUROREHABILITATION 25
4.2.3 SURGE IN GERIATRIC POPULATION 26
4.2.4 EMERGING FIELD OF ROBOTIC REHABILITATION 26
4.3 RESTRAINTS 27
4.3.1 STRINGENT REGULATORY POLICIES 27
4.3.2 REQUIREMENT OF SKILLED PROFESSIONAL 28
4.4 OPPORTUNITIES 29
5 MARKET FACTOR ANALYSIS
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