Market Overview
The Neurorehabilitation Devices Market is expected to grow at a CAGR of 16.4% and reach USD 793 million by the end of the forecast period. Neurological rehabilitation is a treatment program overseen by a team of specialists for patients suffering from sickness, injury, or malfunction of the neurological system. Neurorehabilitation devices are used in the field of physiotherapy to aid in the learning of motor abilities. Neurorobotic systems, non-invasive brain stimulators, brain-computer interfaces, and wearable devices are all examples of neurorehabilitation equipment. With the use of these technologies, rehabilitation products have advanced and improved in terms of intensity and quality. It has ensured that neurorehabilitation equipment provides the best and most important results in neurological illnesses.
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Competitive Landscape
The Neurorehabilitation Devices Market is consolidated and consists of very few major players in the market. The major players that are dominating the Neurorehabilitation Devices Market are listed below: Abbott Laboratories, Ekso Bionics Holdings Inc, Helius Medical Technologies, Hocoma AG, Medtronic Inc, Others
Following the pandemic, a developing culture of entrepreneurs, and neuroscientists, the Neurorehabilitation Devices Market is now open to a variety of people who wish to make money. Those who have invested in the Neurorehabilitation Devices Market have contributed to the advancement of this culture and market trends. In reality, patients are now consulting remotely for each of their application parts. As a result, it has provided a landscape for the neurorehabilitation device industry, as well as the possibility to interact with diverse persons to move the market forward. Parkinson's disease and stroke are the diseases with the highest CAGR in terms of application category in the coming years.
Market Segmentation
- Based on the Type, the global Neurorehabilitation Devices Market has been segmented into Neuro-Robotic Devices, Wearable Devices, Non-Invasive Stimulators, Brain-Computer, and Interface (BCIs).
- Based on the Application, the global Neurorehabilitation Devices Market has been segmented into Brain stroke, Parkinson's Disease, Multiple sclerosis, Spinal cord injury, Cerebral palsy, Schizophrenia, etc.
- Based on the End-User, the global Neurorehabilitation Devices Market has been segmented into Hospitals/Clinics and Cognitive Care Centers.
- Based on the Region, the global Neurorehabilitation Devices Market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Classification
North America dominates the worldwide market with the United States and Canada. The regional market has grown as the occurrences of Alzheimer's and Parkinson's disease has increased, leading to an increase in government financing through particular Senate of Canada programs. Europe consists of the UK, Germany, Italy, France, Belgium, Russia, Poland, and the rest of Europe. The Asia-Pacific includes India, Australia, New Zealand, China, South Korea, Japan, Thailand, Indonesia, and Vietnam, as well as the rest of the continent. The market for neurorehabilitation equipment is predicted to expand gradually. The architecture of medicine is changing, and it is expected that healthcare infrastructure and neurological devices will develop during the forecast period. According to statistics, market growth in areas where the majority of the population is over 60 years old ranges from 8.1 percent to 8.5 percent every year.
Industry News
- The major key players in the Neurorehabilitation Devices Market are Abbott Laboratories, Ekso Bionics Holdings Inc., Helius Medical Technologies, Hocoma AG, Medtronic Inc., and Others. Government support has begun, and countries such as Africa are now contributing products on a philanthropic basis.
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