May 03, 2021
As cited by the business intelligence report titled ‘GLOBAL Neurorehabilitation Devices Market 2019-2027’, available with Market Study Report LLC, global neurorehabilitation devices market is anticipated to register a robust compound annual growth rate of 15.76% over the forecast duration of 2019-2027.
Rising adoption of robotics & wearables for neurorehabilitation coupled with growing prevalence of neurological disorders and diseases are catalyzing global neurorehabilitation devices market growth.
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For the record, neurorehabilitation is a medical process which is supervised by healthcare professionals and is designed particularly for individuals suffering from neurological disorders or nervous system injuries.
Strategic alliances such as collaborations, mergers, join ventures, and partnerships, advent of technological advancements, and increasing geriatric population are further propelling the industry expansion.
Speaking of restraining factors, scarcity of trained & skilled professionals, imposition of stringent regulations, and high cost associated with the medical program will continue to hamper the expansion of global neurorehabilitation devices market in the forthcoming years.
Based on product landscape, the vertical is bifurcated into wearable devices, non-invasive stimulators, brain-computer interface, and neuro-robotic systems. With regards to application spectrum, the business domain is categorized into spinal cord injury, Parkinson’s disease, traumatic brain injury, cerebral palsy, and stroke among others.
Regionally speaking, Asia-Pacific, North America, Middle East & Africa, Europe, and Latin America are the key contributors of global neurorehabilitation devices market value.
Among these, North America currently holds the largest share in this industry space, owing to rapidly developing healthcare infrastructural and proficiency of medical personnel.
Moving on to competitive hierarchy, Bioxtreme Robotics Rehabilitation, Kinova Robotics, Kinestica, Ekso Bionics Holding Inc., Medtronic plc, St. Jude Medical Inc. (acquired by Abbott Laboratories), Helius Medical Technologies, Hocoma AG, Neurostyle Pte Ltd., and Ectron Ltd. are the key participants operating in global neurorehabilitation devices industry.