The Rising Neurological Disorders and the Emerging Field of Robotic Rehabilitation are Expected to Boost the Growth of the Global Neurorehabilitation Devices Market at a CAGR of 7.90% During the Forecast Period of 2023 to 2032

Market Research Future (MRFR) has published a cooked research report on the “Neurorehabilitation Devices Market” that contains information from 2023 to 2032. The Neurorehabilitation Devices Market is estimated to register a CAGR of 7.90% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Neurorehabilitation Devices Market Abbott Laboratories (US), Ekso Bionics Holdings Inc (US), Helius Medical Technologies (US), Hocoma AG (Switzerland), and Medtronic, Inc (Ireland)

Market Highlights

The global Neurorehabilitation Devices Market is accounted to register a CAGR of 7.90% during the forecast period and is estimated to reach USD 1.40 billion by 2032.

The neurorehabilitation devices market refers to the industry involved in the development, manufacturing, and distribution of medical devices used for neurorehabilitation. Neurorehabilitation is a branch of medicine focused on helping individuals recover and improve their functional abilities after neurological injuries or disorders such as stroke, traumatic brain injury, spinal cord injury, multiple sclerosis, and Parkinson's disease.

Segment Analysis

The global Neurorehabilitation Devices Market has been segmented based Type, Application.

The Neurorehabilitation Devices market segmentation, based on type, includes neuro-robotic devices, wearable medical devices, non-invasive stimulators, and brain-computer interfaces. The neuro-robotic devices held the majority share in 2021 contribution to around ~46%-47% in respect to the neurorehabilitation devices market revenue. To connect robotic devices with accurate biological simulations of the brain, neurorobotics blends robotics, neurosciences, and machine learning. Recent advancements greatly aid Neurorobotics in this area, such as exoskeletons and prosthetics. 

The neurorehabilitation devices market segmentation, based on application, includes brain stroke, Parkinson's disease, multiple sclerosis, spinal cord injury, cerebral palsy, and schizophrenia.  Brain strokes are expected to occupy the largest market share during the forecast period as the blood, and nutrient supply to the brain is cut off during a stroke, which can lead to the death of brain cells. They can cause motion impairment, sensory impairment, cognitive impairment, and visual impairment. Motion impairment is the most frequent defect connected to a stroke among these symptoms. Stroke was the top cause of disability and the second largest cause of death worldwide in 2013. 

Regional Analysis

The global Neurorehabilitation Devices Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America Neurorehabilitation Devices market accounted for USD 6.3 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the increasing incidence rate of neurological diseases, the increasing geriatric population, and the sophisticated and equipped healthcare infrastructure.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe Neurorehabilitation Devices market is expected to grow in market share during the forecast period owing to the presence of prominent players in the region and the increased adoption rate of these services. An increased patient base with neurological disorders will also add to the regional growth. Further, the Germany Neurorehabilitation Devices market held the largest market share, and the UK Neurorehabilitation Devices market was the fastest growing market in the European region

The Asia-Pacific Neurorehabilitation Devices Market is expected to grow at the fastest CAGR from 2022 to 2030. Factors such as improving healthcare infrastructure, rising awareness of neurorehabilitation devices, and the increased expansion of prominent players in the region will account for a wider segmental growth of the region. Moreover, China Neurorehabilitation Devices market held the largest market share, and the India Neurorehabilitation Devices market was the fastest growing market in the Asia-Pacific region

For instance, India Neurorehabilitation Devices market is expected to grow significantly during the forecast period owing to expanded infrastructure within the region combined with rising disposable income. Additionally, various international players are setting up shop in India owing to the rising prevalence of neurological diseases and the rising number of geriatric populations, which will add to the regional growth.

Key Findings of the Study

·         The global Neurorehabilitation Devices Market is expected to reach USD 1.2 billion by 2030, at a CAGR of 7.90% during the forecast period.

·         The Asia-Pacific Neurorehabilitation Devices Market is expected to grow at the fastest CAGR from 2022 to 2030. Factors such as improving healthcare infrastructure, rising awareness of neurorehabilitation devices, and the increased expansion of prominent players in the region will account for a wider segmental growth of the region.

·         The Neurorehabilitation Devices market segmentation, based on type, includes neuro-robotic devices, wearable medical devices, non-invasive stimulators, and brain-computer interfaces. 

·         Abbott Laboratories (US), Ekso Bionics Holdings Inc (US), Helius Medical Technologies (US), Hocoma AG (Switzerland), and Medtronic, Inc (Ireland) 

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Neurorehabilitation Devices Market Research Report