Neurorehabilitation Devices Market Overview
Neurorehabilitation Devices Market
Size is estimated to reach $4.1 billion by 2027. Furthermore, it is poised to
grow at a CAGR of 15.1% over the forecast period of 2022-2027.
Neurorehabilitation is a complex medical process that aims to aid the recovery
from a nervous system injury and minimize the functional alterations resulting
from it. Neurorehabilitation Devices are designed to help and treat patients
with the nervous system or neurological diseases. The use of
neurorehabilitation devices enhances the intensity and quality of the
neurorehabilitation process and ensures optimal rehabilitation of patients with
neurological disorders. Technological advancements in transcranial magnetic
stimulation and brain computer interface, increasing demand for the appropriate
and efficient neuro-rehab devices for Cerebral palsy, growing demand for
neuro-robotic devices to provide different ways of treatment depending on the
specific function to be restored, increase in the demand for prosthetics
devices in the treatment of various diseases and rise in the number of patients
suffering from movement disabilities are all the factors that are set to drive
the growth of the global Neurorehabilitation Devices Market for the period
Neurorehabilitation Devices Market Report Coverage
The report: “Neurorehabilitation
Devices Market Forecast (2022-2027)", by Industry ARC covers an
in-depth analysis of the following segments of the Neurorehabilitation Devices
By Product Type: Neurorobotics, Brain Computer Interface, Wearable Devices, and
By Disease: Stroke, Multiple Sclerosis, Cerebral Palsy, Parkinson's Disease, and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia, and Rest of South America), and Rest of the World (the Middle East, and Africa).
- Geographically, North America Neurorehabilitation Devices Market accounted for the highest revenue share in 2021 and it is poised to dominate over the period 2022-2027 owing to the technological advancements in electrostimulation for the treatment of spinal cord injuries and an increase in the demand for prosthetics devices.
- The recent developments in the form of exoskeletons to provide body support to physically disabled and traumatized patients are driving the growth of the neurorobotics segment. However, the Lack of effective training modalities for the robotic devices is one of the major factors that is said to reduce the growth of the Neurorehabilitation Devices Market.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Neurorehabilitation Devices Market Report.
Neurorehabilitation Devices Market Share, By Geography (%) in 2021
Neurorehabilitation Devices Market Segmentation Analysis- By Product Type
The Neurorehabilitation Devices
Market-based on the Product Type can be further segmented into Neurorobotics,
Brain Computer Interface, Wearable Devices, and Non-invasive Stimulators. The Neurorobotics segment held the largest share in 2021 owing to the growing
investments by the manufacturers to develop novel systems and platforms.
Neurorobotics have the potential for accurate assessment of motor function to
assess the patient status, measure the therapy progress, and give the
patient and therapist real-time feedback on movement performance. The recent
developments in neurorobotics in the form of exoskeletons to provide body
support to the physically disabled and traumatized patients are driving the
growth of the Neurorehabilitation Devices Market.
Brain Computer Interface is estimated
to be the fastest-growing segment with a CAGR of 16.7% over the period 2022-2027.
This is owing to the rise in technological developments facilitating
communication and movement in paralytic patients. The ability to acquire
signals, analyze, and translates them into commands that are relayed to an
output device to carry out the desired action is further propelling the demand
for brain computer interface devices, which in turn is driving the growth of
Neurorehabilitation Devices Market Segmentation Analysis- By Disease
The Neurorehabilitation Devices
Market-based by Disease can be further segmented into Stroke, Multiple
Sclerosis, Cerebral Palsy, Parkinson's Disease, and Others. The Stroke segment
held the largest share in 2021 and is also estimated to be the fastest-growing
segment with a CAGR of 16.5% over the period 2022-2027. The growth in this
segment is owing to the factors such as the growing focus by the healthcare
companies to develop new solutions for the treatment of stroke, the rise in the
prevalence of stroke among the people suffering from lifestyle diseases, and
the growing aging population. Growing guidelines by the health commissions for
developing advanced technologies for treating the people suffering from strokes
is driving the growth of the Neurorehabilitation Devices Market. Parkinson's
disease segment held the second-largest share in 2021 owing to the factors such
as the increase in the government funding for research and development
activities for developing new technologies for the treatment of the Parkinson’s
disease, rising healthcare awareness among the patients, and growing prevalence
of Parkinson's disease in the developed nations.
Neurorehabilitation Devices Market Segmentation Analysis- By Geography
The Neurorehabilitation Devices
Market based on Geography can be further segmented into North America, Europe,
Asia-Pacific, South America, and the Rest of the World. North America held a
dominant market share of 36% in the year 2021. The growth in this segment is
owing to factors such as the growing incidence rate of neurological diseases,
the rise in the number of patients suffering from movement disabilities, and
technological advancements in electrostimulation and transcranial magnetic
stimulation for the treatment of spinal cord injuries. The presence of major
players in the region is driving the growth of the market.
Asia-Pacific is estimated to be the fastest-growing segment over the period 2022-2027. The growth in this segment is owing to the factors such as an increase in the awareness coupled with constantly improving healthcare infrastructure, growing strategic initiatives by the key players to expand the operations in the region, increasing incidences of Alzheimer’s and Parkinson’s disease, and the rise in the investment for the research and development activities.
Neurorehabilitation Devices Market Drivers
Technological Advancements in Electrostimulations is a Key Factor in Market Growth.
According to the National Center for Biotechnology Information (NCBI) research in 2019, adding advanced electrostimulation to Standard Wound Care in all wound types increases efficiency by an extra 26.7%. New technologies in electrostimulation for the treatment of spinal cord injuries are enhancing the growth of the neurorehabilitation devices market. Researchers across the world are developing a new multi-electrode to stimulate the spinal cord at different points to improve the patient's quality of life. This new electrode is capable of deploying diversified electric messages to different fibers of the cord in a targeted and independent manner, which is driving the growth of the Neurorehabilitation Devices Market.
Rise in the Demand for Neuro-robotic Devices is Propelling the Market Growth.
According to The IEEE Robotics and Automation Magazine, the behavior control ability of neuro-robotic devices was approximately 20,000 neurons and nearly 5,00,000 synaptic connections, and also all of the are updated in real-time to keep up with the active sensors. Neuro-robotic devices combined with neuroscience and rehabilitation became the standard method in the treatment of neurological disorders as it provides different ways of treatment, depending on the specific function to be restored. The technological advancements in robotics and its combination with neuroscience have led to the emergence of next-generation rehabilitation techniques, which is further propelling the growth of the Neurorehabilitation Devices Market.
Neurorehabilitation Devices Market Challenges
Lack of Effective Training Modalities in the Robotic Devices Is Hampering the Growth of the Neurorehabilitation Devices Market.
According to the Journal of NeuroEngineering and Rehabilitation, Passive training modalities are very less for acute than for chronic subjects with only 24% of the groups of acute trained with these modalities in 2019. Robotic neurorehabilitation is gaining prominence in the neurorehabilitation devices market. With the launch of novel technologies, the key companies are enhancing the capabilities of robots to offer cost-effective solutions in clinical practice. However, the lack of effective training modalities for these robotic devices is acting as a major challenge for the healthcare companies to design robotic devices, which is estimated to reduce the growth of the Neurorehabilitation devices Market.
Neurorehabilitation Devices Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Neurorehabilitation Devices Market. The top 10- Neurorehabilitation Devices Market companies are-
- Biometrics Ltd
- Bionik Laboratories
- Bioxtreme Robotics Rehabilitation
- Bioness Inc
- Ekso Bionics
- Ectron Ltd
- Medtronic PLC
- Kinova Robotics
- Hocoma AG
- In February 2022, MindMaze, a neurotherapeutics company secured a USD 105 million financing round to accelerate its commercial growth plans, enhance ongoing R&D and consolidate the clinical development pipeline of its digital therapeutic solutions for various neurological diseases.
- In November 2019, Ekso Bionics Holdings has launched the EksoNR, the next generation of its EksoGT robotic exoskeleton, developed for neurorehabilitation purposes. It is an intuitive exoskeleton that empowers patients recovering from stroke and other conditions to learn to walk again with a more natural gait. These features and software enhancements are aimed to get more out of rehabilitation sessions.
- In January 2019, Bionik Laboratories has launched InMotion Connect to target the clinical need and improve technology and update the traditional neurorehabilitation process to increase the return on assets. These systems are used for the clinical rehabilitation of stroke survivors. These improved generation InMotion ARM/HAND were developed based on the same principles of neuroplasticity.