Wearable Neurorehabilitation Devices Market: Introduction
- Traditional neurorehabilitation has been witnessing progressive change for the last few. Conventional neurorehabilitation procedures might have limited efficacy for most patients suffering from common neurological diseases including stroke, Parkinson's disease, spinal cord injury, severe brain injury. Advancements in technology have led to the development of new technologies to enhance the effectiveness of rehabilitation strategies in these conditions.
- Neurorehabilitation wearables devices are one such development that primarily works toward enhancing the nervous system and subsequently, reducing disability and increasing ease of daily functioning of individuals. These devices assist patients suffering from neurological disorders. These devices also help researchers and medical professionals in accurately tracking the movement of the patient. Neurorehabilitation wearables devices offer numerous benefits such as small dimensions, lightweight, ease of use, and user-friendliness. All these benefits make these devices ideal for being employed in the clinical context.
Key Drivers, Restrains, and Opportunities of Global Wearable Neurorehabilitation Devices Market
- Surge in the incidence of various neurological diseases such as stroke, Parkinson’s disease, cerebral palsy, and brain & spinal cord injury, has augmented the patient pool undergoing interventional procedures followed by rehabilitation therapies on a global level. This has resulted in a rise in the demand for wearable neurorehabilitation devices.
- In the U.S, stroke is a leading cause of long-term disability. According to statistics reported by American Heart Association, more than 795,000 people in the U.S have a stroke nearly every year. Among these, about 610,000 are the first or new strokes. Rise in incidence of stroke across the globe has led to a surge in the demand for advanced rehabilitation technologies, such as wearable neurorehabilitation devices, in all stages of treatment.
- Companies are focusing on the development and innovation of wristbands products having the potential of rehabilitating patients who have suffered from a stroke, as wearable technologies are gaining prominence in day-to-day life applications. This factor is likely to boost the demand for wearable neurorehabilitation devices during the forecast period. However, lack of awareness and stringent regulatory policies are expected to hamper the market during the forecast period.
- Neurorehabilitation centers have been suspended for to patients undergoing treatment due to the outbreak of the novel coronavirus pandemic. Consequently, neurorehabilitation services have also been paused. Moreover, rehabilitation centers are restricted to individuals suffering from severe post-acute disabilities.
North America to Capture Major Share of Global Wearable Neurorehabilitation Devices Market
- North America is expected to account for a major share of the global wearable neurorehabilitation devices market due to the high prevalence of neurological ailments and a surge in the geriatric population. Moreover, well- established healthcare infrastructure in North America is estimated to further boost the wearable neurorehabilitation devices market in the region.
- The wearable neurorehabilitation devices market in Asia Pacific is expected to expand at a rapid pace during the forecast period owing to an increase in awareness among the public along with continuous improvement in healthcare infrastructure in the region
Key Players Operating in Global Wearable Neurorehabilitation Devices Market
The global wearable neurorehabilitation devices market is less fragmented with the presence of a few international as well as regional companies.
Major players operating in the global wearable neurorehabilitation devices market are listed below:
- Cadence Biomedical
- Flint Rehab
- Ekso Bionics
- Myomo, Inc
- ReWalk Robotics
Global Wearable Neurorehabilitation Devices Market: Research Scope
Global Wearable Neurorehabilitation Devices Market, by Application
- Parkinson’s Disease
- Cerebral Palsy
- Brain & Spinal Cord Injury
Global Wearable Neurorehabilitation Devices Market, by End-user
- Rehabilitation center
Global Wearable Neurorehabilitation Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.