Neurorehabilitation Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Neurorehabilitation Devices Market is segmented By Product Type (Neuro-Robotic Devices, Wearable Devices, Non-Invasive Stimulators, Brain-Computer Interface), By End-User and Geography.

Market Snapshot

Neurorehabilitation Devices Market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 15.1 %

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Market Overview

The Neurorehabilitation Devices Market is expected to register a CAGR of 15.1% during the forecast period. Neurorehabilitation devices helps to improve function, reduce symptoms and improve the wellbeing of people with diseases such as trauma or disorders of the nervous system. Infections, tumors, disorders, degenerative diseases, injuries and structural defects in the circulatory system can impair the nervous system. Conditions such as ischemic strokes, meningitis, brain and spinal cord injury, seizure disorders, Parkinson disease, multiple sclerosis, amyotrophic lateral sclerosis (ALS) and Alzheimer's disease etc., may benefit through neurorehabilitation devices. Technological advancements in neuroimaging techniques has greatly enhanced the outcome and scope of neurorehabilitation. By using advanced technologies in neurorehabilitation devices which may help to provide cutting edge improvements to therapies for patients with neurological issues. In particular, the use of robotics in neurorehabilitation has become common. According to Global Burden of Disease (GBD)/Institute for Health Metrics and Evaluation, globally in the year 2016, neurological disorders were the leading cause of disability-adjusted life year (DALY) of approximately 276 million and second leading cause of deaths reaching approximately 9 million. According to World Health Organization (WHO), the number of patients with neurological diseases will rise from 95 million in the year 2015 to 103 million by 2030. Rising prevalence of neurological disorders, growing geriatric population and technological advancements in neurorehabilitation devices are the key driving factors in neurorehabilitation devices market.

Scope of the Report

Neurorehabilitation devices helps to improve function, reduce symptoms and improve the wellbeing of people with diseases such as trauma or disorders of the nervous system. Neurorehabilitation Devices Market is segmented by Product Type, End-User and Geography.

By Product Type
Neuro-Robotic Devices
Wearable Devices
Non-Invasive Stimulators
Brain-Computer Interface
By End-User
Hospitals/Clinics
Cognitive Care Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Neuro-Robotic Devices Segment is Expected to Hold a Major Market Share in the Neurorehabilitation Devices Market

Neuro-robotic devices combined with neuroscience and rehabilitation is the new method in the treatment of neurological disorders, where it provides different ways of treatment, depending on the specific function to be restored. Robotic devices for neurorehabilitation can be divided into two main categories based on the different types of physical human robot interaction such as end-effector devices and exoskeletons. According to World Health Organization (WHO), hundreds of millions of people globally are affected by neurological disorders among them more than 50 million people affected with epilepsy and around 47 million people are affected by dementia globally.

Neuro-robotic devices segment hold a significant market share in the cranial fixation and stabilization systems market and is anticipated to show similar trend over the forecast period due to the technological advancements in robotics and its combination with neuroscience leading to the emergence of next-generation rehabilitation techniques.

Rising prevalence of neurological disorders, growing geriatric population and technological advancements are the key driving factors in the neuro-robotic devices segment.

Neurorehabilitation Devices Market Key trend 1

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a major market share in the global neurorehabilitation devices market due to growing incidences of Alzheimer’s and Parkinson’s disease, growing geriatric population and technological advancements in neurorehabilitation devices in this region. According to Centers for Disease Control and Prevention (CDC), in the year 2014, about 5 million Americans were suffering with Alzheimer’s disease and this number is projected to be 14 million people by the year 2060. Furthermore, increasing awareness regarding the benefits of neurorehabilitation devices and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.

Neurorehabilitation Devices Market 2

Competitive Landscape

The Neurorehabilitation Devices Market is consolidated and consists of few major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Hocoma AG, Medtronic Plc, Bionik Labs, St. Jude Medical Inc (Abbott Laboratories), Ectron Ltd, MagVenture A/S, Helius Medical Technologies, Ekso Bionics, Rehabtronics Inc and Rehab-Robotics Company Limited.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Prevalence of Neurological Disorders

      2. 4.2.2 Technological Advancements in Neurorehabilitation Devices

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of the Neurorehabilitation Devices

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Neuro-Robotic Devices

      2. 5.1.2 Wearable Devices

      3. 5.1.3 Non-Invasive Stimulators

      4. 5.1.4 Brain-Computer Interface

    2. 5.2 By End-User

      1. 5.2.1 Hospitals/Clinics

      2. 5.2.2 Cognitive Care Centers

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Hocoma AG

      2. 6.1.2 Medtronic Plc

      3. 6.1.3 Bionik Labs

      4. 6.1.4 St. Jude Medical Inc (Abbott Laboratories)

      5. 6.1.5 Ectron Ltd

      6. 6.1.6 MagVenture A/S

      7. 6.1.7 Helius Medical Technologies

      8. 6.1.8 Ekso Bionics

      9. 6.1.9 Rehabtronics Inc

      10. 6.1.10 Rehab-Robotics Company Limited

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Neurorehabilitation Devices Market market is studied from 2018 - 2026.

The Neurorehabilitation Devices Market is growing at a CAGR of 15.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Hocoma AG, Medtronic Plc, Bionik Labs, St. Jude Medical Inc (Abbott Laboratories), Ectron Ltd are the major companies operating in Neurorehabilitation Devices Market.

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