Neurorehabilitation Device Market (By Product: Neurorobotics, Brain-Computer Interface, Wearable Devices, Noninvasive Stimulators; By Application: Stroke, Traumatic Brain Injury, Spinal Cord Injury, Parkinson's Disease, Cerebral Palsy, Others) - Global Industry Analysis, Market Size, Opportunities And Forecast 2020 - 2027

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

The global neurorehabilitation devices market is expected to grow at a CAGR of around 14.8% from 2020 to 2027 and expected to reach the market value of around US$ 3,476.3 Mn by 2027.

Neurorehabilitation device is a modern technology that uses brain examinations related to neuroplasticity processes. The neuro rehab programs are done on an inpatient or outpatient basis. Manu skilled physicians are a part of the neurological rehab team that involves physiatrist, neurologist, rehab specialists, and among others. According to the IEEE, patient participation is the most important factor for rehabilitating the neural system after injury or stroke. Research conducted by the IEEE proves vital for the patients suffered from stroke or injury. The research is conducted for developing a new method for re-connecting the brain to the limbs of the patient. Steady state visual evoke potential (SSVEP) signals are read and decoded to extract the users intent and is then fully controlled by robot exoskeleton to move patients limb for therapy. Such artificial reconnection of the brain to limbs will result in improved outcomes.

Market Drivers

Rising prevalence of neurological disorders resulting in patients suffering from movement disabilities

According to the Institute for Health Metrics and Evaluation (IHME), globally in 2016, neurological disorders was the leading cause of disability-adjusted life years (DALYs) that is 276 million that constitutes 95% and second leading cause of death that is 9.0 million. The absolute number of deaths and DALYs from all neurological disorders combined increased deaths by 39% and DALYs by 15%. The only neurological disorders that had a decrease in rates and absolute number of deaths and DALYs are tetanus, meningitis, and encephalitis. The fourth largest contributor of neurological DALYs was stroke that constitutes 42.2% migraine 16.3%Alzheimer's and other dementias 10.4%, and meningitis 7.9%. Worldwide, the burden of neurological disorders will continue to increase. As population is growing and ageing the prevalence of major disabling neurological disorders steeply increases with age. Government has to face increasing demand for treatment, rehabilitation, and support services for neurological disordersThis treatment option is a progressive and modern method to tackle that renders functional restoration in the patients suffering from movement disabilities. The service aims primarily to offer patients with optimum environment and perform daily activities at ease.

The changing face of neurorehabilitation

Exploration for the effects of neurorehabilitation technologies and National Institute of Biological Sciences (NIBS) on plasticity thorough the usage of advanced technologies that involves functional MRI, near infrared spectroscopy, high-density electroencephalogram (EEG), represents surrogate outcome measure in the future. According to the EurekAlert, on April 2020, a developed system for switching the activity of genes could improve treatment for a broad range of neurological diseases. The team of researchers in viral neuroengineering in the Princeton Neuroscience Institute is developing genetic switches for use in gene therapy that is best practice suited for delivering new genes to replace or assist ones that are faulty. Gene therapy is a promising strategy for many diseases involving disorders that involve brain such as Parkinson's disease and Alzheimer's disease. 

Favorable reimbursement policies

Government and other third party coverage and reimbursement policies largely determine neurorehabilitation services for the patient. Scientific evidences assist to determine which interventions are efficacious in clinical practice and which is effective in the community. Similarly, which service will receive reimbursement ultimately determines what service will be delivered. In the US, access to neurorehabilitation services is influenced by insurance coverage as well as geographic variation in the availability of services. Outside of Europe and the US, coverage and access to neurorehabilitation is highly variable.

Segmental Outlook

The neurorehabilitation devices market is segmented based on products and application.

By products, the market is segmented as neurorobotics, brain-computer interface, wearable devices, and noninvasive stimulators. By application the market is segmented as stroke, multiple sclerosis, Parkinson’s disease, cerebral palsy, and among others.

Neurorobotics is the largest segment of neurorehabilitation devices market

Neurorobotics is normally referred as study of nervous system in connection with technology. The field of neurorobotics is the brain and its direct interaction with computer systems as well as methods of externally stimulating the brain. Advancements in the field of exoskeletons and prosthetics is acting as a major driver for neurorobotics. The exoskeleton provides a body support to the physically disabled and traumatized patients. Further, Saebo, Inc., Hocoma AG, and Bioness Inc. are some of the prominent manufacturers of exoskeletons and prosthetics. Such systems are expected to generate larger revenues due to high availability in combination with rising investments by the manufacturers to develop novel systems and platforms.

North America dominates the neurorehabilitation devices market

North America is anticipated to hold significant market share in the forecast period. North America is projected to hold largest market share in the global neurorehabilitation devices market owing to high prevalence of Alzheimer's and Parkinson's disease, rising geriatric population, and technological advancements in this region. Additionally, rising awareness with benefits of neurorehabilitation devices and presence of well established healthcare infrastructure fuels the overall regional growth of North American region. The neurorehabilitation devices market is fuelled by growing ageing population that subsequently raises the Parkinson's disease and Alzheimer's disease. Therefore, surging cases of neurological conditions essentially pave the way for the increased growth and adoption of neurorehabilitation devices in the coming years. Healthcare companies are focusing on the advantages associated with virtual reality (VR) as there is a short window when the brain can bounce back in early stages of treatment. Hence, VR and neuroscience contribute fullest to maximize the potential for full recovery of the patient. Companies are interested to increase the availability of VR devices in hospitals and clinics.

Asia Pacific will move at a fast pace in the neurorehabilitation devices market

China neurorehabilitation devices market will grow lucratively due to rising number of stroke incidences. In China, stroke is the leading cause of disabilities and annually around 2,000,000 people suffered from stroke. Ageing population coupled with high prevalence of neurological diseases will propel the Chinese neuro-rehabilitation devices market growth in the forecast period. Moreover, rising public awareness and investments in healthcare drives the Asia Pacific regional market for neurorehabilitation devices. For instance, Switzerland based Hocoma AG has entered Indian markets by associating with Apollo Hospitals to offer neurorehabilitation services to the patient base in India.

Competitive Landscape

Key companies profiled in this report involve Alter G, Bioness, Hocoma, Ekso Bionics, St Jude Medical, Instead Technologies, Meditouch, Touch Bionics, Kinova Robotics and among others.

Market Segmentation

Market By Product

Neurorobotics

Brain-Computer Interface

Wearable Devices

Noninvasive Stimulators

Market By Application

Stroke

Traumatic Brain Injury

Spinal Cord Injury

Parkinson's Disease

Cerebral Palsy

Others

Market By Geography

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa


Frequently Asked Questions

Neurorehabilitation device is expected to reach a market value of around US$ 3,476.3 Mn by 2027.

The neurorehabilitation device market is expected to grow at a CAGR of around 14.8% from 2020 to 2027.

Based on product type, neurorobotics is the leading segment in the overall market.

High prevalence of geriatric population and government reimbursement policies is expected to spur the market value are the prominent factors that drive the demand for neurorehabilitation device market.

Alter G, Bioness, Hocoma, Ekso Bionics, St Jude Medical, Instead Technologies, Meditouch, Touch Bionics, Kinova Robotics and among others.

North America is anticipated to grab the highest market share in the regional market

Asia Pacific is expected to be the fastest growing market in the forthcoming years

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