Neurorehabilitation Devices Market Size, Share, Opportunities, And Trends By Type (Neurorobotic Systems, Brain-Computer Interfaces, Wearable Devices, Non-Invasive Stimulators, Neurorehabilitation Gaming Systems, Others), By Application (Stroke, Spinal Cord Injury, Traumatic Brain Injury, Parkinson's Disease, Cerebral Palsy, Others), By End-User (Hospitals, Clinics, Rehabilitation Centers, Home Care Settings), And By Geography - Forecasts From 2023 To 2028
- Published : Oct 2023
- Report Code : KSI061615681
- Pages : 140
The neurorehabilitation devices market growth is expanding steadily as the need for improved technologies to help in the recovery and rehabilitation of neurological illnesses and accidents rises. The increased prevalence of neurological diseases and the ageing population have an impact on the neurorehabilitation devices market size. neurorehabilitation devices market growth is being driven by technological breakthroughs such as robots, brain-computer interfaces, and neurostimulation devices. The market's key players possess large neurorehabilitation devices market shares, which contributes to the industry's competitiveness and dynamism. The neurorehabilitation devices market size is predicted to increase further with the continued development of novel devices and therapies and to play a critical role in enhancing the quality of life for those with neurological disabilities.
The Neurorehabilitation Devices market size is growing quickly as there is a more prominent accentuation on improving the personal satisfaction of those experiencing neurological diseases or wounds. Neurorehabilitation devices are expected to assist with the recuperating, recovery, and rebuilding of neurological working by means of centred treatments and medications. Neurostimulation devices, robotics, brain-computer interfaces, wearable sensors, and other technologies are among these gadgets.
Due to the rising prevalence of neurological diseases, technological advancements, and government efforts to support them, the neurorehabilitation devices market growth is expanding rapidly. The neurorehabilitation devices market share is well-positioned to contribute significantly to the enhancement of neurological disease sufferers' quality of life and functional outcomes.
Key Players in the Neurorehabilitation Devices Market:
- Abbott Laboratories: Abbott Research facilities, which centers around neurostimulation innovation, is a significant member of the neurorehabilitation gadget industry. Chronic pain, mobility issues, and other neurological diseases are treated with their products. Implantable neurostimulators and outside neurostimulation gadgets are among the items presented by Abbott.
- Bioness Inc.: Bioness works in the turn of events and the creation of wearable neurorehabilitation gear. Their items incorporate useful electrical feeling (FES) gadgets for upper and lower appendage restoration, which help in the recuperation of development and autonomy in individuals experiencing a stroke, spinal rope injury, and other neurological sicknesses.
- Ekso Bionics Holdings, Inc.: Ekso Bionics is a trailblazer in exoskeleton innovation for neurorehabilitation. They develop robotic exoskeletons to aid patients with mobility impairments, such as stroke or damage to the spinal cord, in regaining their ability to walk and enhancing their motor function.
- Aging Population and Chronic Diseases:
Neurological conditions like Alzheimer's disease and age-related cognitive decline are more common in the elderly. The rising frequency of these issues expands the interest in neurorehabilitation gadgets that guide in mental preparation, memory improvement, and engine capability upgrade.
- Rehabilitation Facilities and Healthcare Infrastructure:
The establishment of specialized rehabilitation facilities and the expansion of healthcare infrastructure both contribute to the expansion of the market for neurorehabilitation devices. To provide full rehabilitation services, these facilities require a diverse array of equipment, which presents opportunities for device manufacturers.
- Integration of Artificial Intelligence and Data Analytics:
The combination of man-made consciousness (man-made intelligence) and information examination in neurorehabilitation gadgets gives energizing improvement possibilities. Information investigation might offer bits of knowledge for streamlining restoration conventions, while artificial intelligence frameworks can examine patient information and make customized treatment programs. This reconciliation considers more viable and proficient recovery treatments, which brings about better persistent results. As medical care experts look for inventive answers for accuracy restoration, the requirement for neurorehabilitation gadgets with simulated intelligence and information investigation capacities is projected to extend.
- Government Initiatives and Funding Support:
Government measures pointed toward improving admittance to restoration administrations and financing neurorehabilitation research all add to advertise development. Neurorehabilitation gadget financing projects and repayment guidelines urge medical services suppliers to utilize these gadgets, helping market development.
- The neurorehabilitation devices market is expanding at a steady pace in the forecast period.
The market for neurorehabilitation devices is segmented by type, application, end-user, and geography. Type is further segmented into neurorobotic systems, brain-computer interfaces, wearable devices, non-invasive stimulators, neurorehabilitation gaming systems and others. End-user is further segmented into hospitals, clinics, rehabilitation centers, and home-care settings.
North America is a major region in the world, in the neurorehabilitation devices market.
North America dominates the neurorehabilitation devices market share, accounting for a sizable market. Several reasons contribute to its supremacy. To begin, the region has sophisticated healthcare infrastructure, including research and development facilities, allowing for the creation and implementation of novel neurorehabilitation technologies. Second, a high frequency of neurological illnesses and an ageing population fuel the need for appropriate neurorehabilitation treatments. Furthermore, favourable government efforts and reimbursement regulations, as well as significant expenditures in healthcare technology, contribute to neurorehabilitation devices market growth. Major companies and strategic alliances in North America help to increase the company's market position in the Neurorehabilitation Devices market.
- In May 2023, Medtronic plc, an overall forerunner in medical services innovation, said that it has gone into authoritative arrangements to acquire EOFlow Co. Ltd., the maker of the EOPatch gadget, which is a tubeless, wearable, and very much dispensable insulin conveyance gadget. The expansion of EOFlow, alongside Medtronic's Dinner Recognition Innovation calculation and cutting-edge ceaseless glucose screen, is supposed to widen the organization's capacity to address the issues of additional individuals with diabetes, paying little mind to where they are in their treatment process or how they favour their insulin to be conveyed.
- In December 2022, Ekso Bionics, a trailblazer in exoskeleton innovation for clinical and modern applications, reported the acquisition of Parker Hannifin Partnership's Human Movement and Control Specialty Unit. Parker Hannifin Organization is a worldwide forerunner of moving and controlling innovations. The arrangement covers the Indego lower appendage exoskeleton product offering as well as the expected improvement of mechanical helped orthotic and prosthetic gadgets.
- In June 2023, Bionik Research Facilities Corp., a mechanical technology organization that offers neurological utilitarian recuperation answers for stroke survivors and others with versatility challenges, as well as administrations to patients in its clinical focuses, is growing its organization with Lifepoint Wellbeing, declaring four new establishments of the InMotion ARM mechanical gadget.
- BY TYPE
- Neurorobotic Systems
- Brain-Computer Interfaces
- Wearable Devices
- Non-Invasive Stimulators
- Neurorehabilitation Gaming Systems
- BY APPLICATION
- Spinal Cord Injury
- Traumatic Brain Injury
- Parkinson's Disease
- Cerebral Palsy
- BY END-USER
- Rehabilitation Centers
- Home Care Settings
- BY Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.3. Research Design
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. NEUROREHABILITATION DEVICES MARKET, BY TYPE
5.2. Neurorobotic Systems
5.3. Brain-Computer Interfaces
5.4. Wearable Devices
5.5. Non-Invasive Stimulators
5.6. Neurorehabilitation Gaming Systems
6. NEUROREHABILITATION DEVICES MARKET, BY APPLICATION
6.3. Spinal Cord Injury
6.4. Traumatic Brain Injury
6.5. Parkinson's Disease
6.6. Cerebral Palsy
7. NEUROREHABILITATION DEVICES MARKET, BY END-USER
7.4. Rehabilitation Centers
7.5. Home Care Settings
8. NEUROREHABILITATION DEVICES MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.1. United Kingdom
8.5. The Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Medtronic plc
10.2. Abbott Laboratories
10.3. Ekso Bionics Holdings, Inc.
10.4. Bionik Laboratories Corp.
10.5. St. Jude Medical (a subsidiary of Abbott Laboratories)
10.6. Hocoma AG (a subsidiary of DIH International Limited)
10.7. ReWalk Robotics Ltd.
10.8. Tyromotion GmbH
10.9. Kinova Robotics
10.10. Reha-Stim Medtec GmbH & Co. KG
Ekso Bionics Holdings, Inc.
Bionik Laboratories Corp.
St. Jude Medical (a subsidiary of Abbott Laboratories)
Hocoma AG (a subsidiary of DIH International Limited)
ReWalk Robotics Ltd.
Reha-Stim Medtec GmbH & Co. KG
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