The growth of the global neurorehabilitation devices market has ballooned in recent times. The presence of a sound medical industry, focused on managing chronic ailments, has given a thrust to several domains within healthcare. The rising incidence of strokes and spinal injuries has acted as a launchpad for the growth of the global neurorehabilitation devices market. Moreover, neural disorders are researched to be one of the leading causes of disabilities in adolescents and aged individuals. Hence, the global neurorehabilitation devices market is projected to expand at a stellar pace in the years to follow.
Market vendors operating in the global neurorehabilitation devices market understand the importance of patenting of technologies. For this reason, several companies have shown tremendous agility in inventing new technologies and filing for patents. The advent of neuroimaging techniques has been the most resounding development on the profile for several companies. Competition within the global neurorehabilitation devices market is expected to intensify as multiple vendors capitalise on developing improved neurorehabilitation devices and simulations.
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The geriatric population is playing a central role in the growth of the global neurorehabilitation devices market. Parkinson’s diseases is peculiar to aging adults, and this factor has led to increased adoption of neurorehabilitation devices across old-age homes and day-care centers. Furthermore, high incidence of cerebral palsy and amnesia has also emerged as daunting challenge for the healthcare fraternity.
Transparency Market Research (TMR) finds that the global neurorehabilitation devices market would expand at a robust CAGR 15.50% over the period between 2016 and 2024. The total value of the global neurorehabilitation devices is expected to touch US$3.2 bn by 2024, rising up from a value of US$894.9 mn in 2015. The need for improving the quality of life for disabled persons has played a vital role in market growth.
Innovative Approach Gives an Edge to Neuro Device Group
Neuro Device Group S.A. has been a leader in innovations related to neural disorders. The development of cutting-edge technologies for treating and managing disorders related to the nervous system has guided the company to fruition. Neuro Device Camri and Neuro Device Scent are two of the most distinct flagship technologies of the company. These technologies focus on studying the reactions of the neuronal system in humans.
Relation of Rare Syndromes to Neurological Disorders
Brain injuries can be permanently damaging for individuals, and there is a need for recourse in case of such injuries. Hence, hospitals and healthcare centers install neurorehabilitation devices across their outpatient or emergency units. Furthermore, the direct connection of rare disorders such as Guillain-Barre syndrome and post-polio syndrome to neurorehabilitation has played an integral role in market growth.
Rehabilitation centers have gained prominence on the global healthcare landscape. These centers use a combination of therapies such as rehabilitation counselling, device treatment, and post-operative care to help patients suffering from neural disorders. This factor has emerged as a prominent driver of demand within the global neurorehabilitation devices market.
North America to Lead Market Growth
Neural scientists and medical experts in the US have familiarized with the usage and utility of neurorehabilitation devices. This factor, coupled with huge amount of healthcare funds available in the US, has driven demand within the North America neurorehabilitation devices market. Moreover, the sophisticated nature of the healthcare industry in Canada has given an impetus to regional market growth. Other important regional market are Asia Pacific and Europe.
The review is based on TMR’s report titled, “Neurorehabilitation Devices Market (Product Type - Neurorobotic System, Brain Computer Interface, Non-invasive Stimulators, Wearable Devices; Application - Stroke, Traumatic, Brain Injury, Spinal Cord Injury, Parkinson’s Disease, Cerebral Palsy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”.
The global neurorehabilitation devices market is segmented as:
- Neurorobotic System
- Brain Computer Interface
- Non-invasive Stimulators
- Wearable Devices
- Traumatic Brain Injury
- Spinal Cord Injury
- Parkinson’s Disease
- Cerebral Palsy
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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