Neurorehabilitation Devices Market Size to Hit USD 2.33 Billion by 2030 at 7.9% CAGR – Report by Market Research Future (MRFR)

New York, USA, Dec. 02, 2022 (GLOBE NEWSWIRE) — Neurorehabilitation Devices Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Neurorehabilitation Devices Market Information By Type, End User, Application, And Region – Forecast till 2030“, the market size was valued USD 1.24 billion in 2021 and is expected to reach USD 2.33 billion by 2030 at 7.9% CAGR during the forecast period 2022-2030

Market Synopsis

The use of computer-aided & electronic robotic equipment has drastically changed neurorehabilitation in recent years. These tools aid in enhancing how well patients respond to rehabilitation therapies. Due to the increasing incidence and prevalence of neurological illnesses, the industry has enormous development potential. Neurorehabilitation devices in the physiotherapy industry use technology. Most neurological rehabilitation tools are designed to make learning or relearning motor skills easier, regardless of the origin of the impairment. Non-invasive brain stimulators, brain-computer interfaces, neurorobotic systems, and wearable technology are all types of neurorehabilitation equipment.

Neuroscientists are investigating prospects in virtual reality (VR) to hasten the recovery of stroke victims in light of the rising importance of the startup culture. Since there is just a little window when the brain may recover during the initial stages of treatment, healthcare organizations are utilizing VR’s benefits. Consequently, VR and neuroscience have contributed to maximizing the likelihood of complete recovery. Businesses are working harder to make VR equipment more accessible in hospitals. Enterprises in the neurorehabilitation devices market are developing robots with active and passive training modalities, and they will be able to impose and modulate trajectories in response to the patient’s intention to move.

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Report Scope:

Neurorehabilitation Devices Market Competitive Landscape:

The vital contenders in the neurorehabilitation devices market are:

• Medtronic Inc
• Abbott Laboratories
• Helius Medical Technologies
• Hocoma AG
• Ekso Bionics Holdings Inc

Neurorehabilitation Devices Market Dynamics:

Market Drivers:

The prevalence of neurological illnesses such as brain stroke, Parkinson’s disease, traumatic brain injury, multiple sclerosis, cerebral palsy, and spinal cord injury is rising, and there is a surge in public awareness of neurorehabilitation equipment among consumers. The market for neurorehabilitation products is also growing due to increased R&D funding and product launches by regulatory bodies. The market for neurorehabilitation equipment is being overtaken by new electrostimulation technology. To enhance patient quality of life, researchers are stepping up their research and development on a novel multi-electrode that can activate the spinal cord at various places. The novel electrode can deliver electric messages to various cord fibers in a focused and autonomous manner. This development has facilitated a rapid return of voluntary limb motions. As a result, businesses in the market for neurorehabilitation products are stepping up their research into electrical stimulation to speed the recovery of motor abilities.

Market Restraints:

The high price of neurorehabilitation equipment and the shortage of qualified specialists are two major constraints that limit market expansion. On the other hand, the rising demand for telerehabilitation presents a chance for producers to enter and profit from the market. The market for neurorehabilitation devices will likely experience some growth restraints due to the lack of individualized home care neurorehabilitation devices and low disposable income in developing nations, but also possible challenges due to strict regulatory requirements and rising demand for qualified professionals.

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COVID 19 Analysis

Several companies, including some parts of the healthcare industry, have temporarily closed their doors due to the sickness. Neurorehabilitation units have had to restrict their beds in some countries so that medical staff can work in intensive care units or special wards to care for and isolate patients with COVID-19 infection. To protect patients and caregivers, home and outpatient rehabilitation therapies are only available in a limited number of circumstances. Similar to this, in-patient neurorehabilitation has only been available to patients with severe post-acute disability, and treatment for people with chronic degenerative diseases like multiple sclerosis or movement problems has been put off for a long time.

The prevalence of these neurological diseases has not changed significantly over time, despite a slight decrease in the number of strokes and other acquired brain injuries treated at emergency rooms and acute care hospitals, which can be attributed to patients’ fear of contracting the virus while receiving treatment. But the prevalence of these neurological conditions and the need for neurorehabilitation therapy has grown. One should never undervalue COVID-19 effect’s potential effects. By conducting sessions electronically or over the phone, the neurorehabilitation equipment and facilities providers have put out the extraordinary effort. The nature of the patients’ diverse infirmities made it very challenging to adjust to this new situation.

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Neurorehabilitation Devices Market Segmentation

By end-user, the market includes hospitals & clinics, rehabilitation centers, and home care.

By application, the market includes brain stroke, multiple sclerosis, spinal cord injury, Parkinson’s disease, cerebral palsy, and schizophrenia.

By type, the market includes non-invasive stimulators, neuro-robotic devices, wearable devices, and brain-computer interfaces.

Neurorehabilitation Devices Market Regional Insights

Due to growing healthcare infrastructure, higher disposable income, and companies undertaking strategic initiatives to diversify their regional operations, Asia-Pacific is expected to experience the fastest growth rate during the forecast period. It offers lucrative opportunities for major players in the neurorehabilitation market. Additionally, due to an increase in the incidence of neurological illnesses, a rise in the demand for neurorehabilitation equipment, and an increase in the number of senior populations, Asia-Pacific is predicted to have the quickest growth rate in the global market. As a result, during the projected period, the market for neurorehabilitation devices will expand due to the growing global base of an older population.

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The need for neurorehabilitation equipment is expected to rise in Asian nations like Japan, China, and India due to an aging population and significant untapped potential. The market’s main development factors are the rising prevalence of neurological illnesses, the growing geriatric population, and a more advanced and well-equipped healthcare infrastructure compared to other areas. The North American market for neurorehabilitation equipment is primarily driven by the US and Canada.

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