Neurorehabilitation deals with the daunting challenges of learning to live with the various neurological conditions such as Alzheimer’s disease, ADHD, epilepsy, Parkinson’s disease, multiple sclerosis, brain tremor and spinal cord injuries, peripheral nervous disorders and amyotrophic lateral sclerosis.
Acknowledging the exponential growth, the market of Neurorehabilitation Device is perceiving currently, and the growth prospects the market is demonstrating globally; Market Research Future (MRFR) recently published a brilliant study report giving out the complete market insights up till 2022. In its report MRFR asserts that the global Neurorehabilitation Device market of is forecasted to reach US$ 2.25 Billion in 2022 growing at a substantial CAGR during the forecast period. Emergence of robotics is considered as one of the prominent factors driving the market growth to an extent.
Additional factors substantiating the market growth include increasing governmental funding and programs especially in the developing regions to support the R&D activities undertaken for the invention of new devices. Technological advancements that took place in the smart and connected devices and the proliferation of some ubiquitous technologies such as AR, AI and IoT and the integration of these technologies in the neurorehabilitation devices foster the market growth.
Furthermore, factors fostering the market growth include the changing lifestyle led by the growing urbanization and industrialization alongside the improving economic conditions that enable access to the quality care and to the improved healthcare worldwide. Despite the emergence of various innovative devices, most of the countries worldwide, including well-developed regions are struggling with shortages of neurorehabilitation devices.
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.
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Industry/Innovation/Related News:
July 11, 2018 – Medline Industries, Inc., (US), a global manufacturer and distributor of medical products announced the acquisition of NeuroGym (Canada), a physical therapy and rehabilitation equipment maker.
June 12, 2018 – MindMaze SA (Switzerland), a leading global medical technology company announced receiving of FDA clearance for US distribution of its MindMotion Go, a gamified neurorehabilitation therapy platform for medium and light severity impairments able to be deployed in the patient’s home. Using motion capture technology based on the Microsoft Kinect, the Go engages patients with a range of activities set in displayed 3D environments that promote motor and task functions.
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 – Intended Audience
- Neurorehabilitation devices manufacturers and suppliers
- Contract Research Organizations (CROs)
- Research and Development (R&D) Companies
- Government Research Laboratories
- Independent Research Laboratories
- Government and Independent Regulatory Authorities
- Market Research and Consulting Service Providers
- Academic Institutes and Universities
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.
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.
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