The Neurorehabilitation Market Size was assessed at USD 1.29 billion in 2022, and is predicted to increase at a CAGR of 9% from 2023 to 2030, to reach USD 2.58 billion.
Neurorehabilitation is a complicated medical procedure that seeks to help people recover from nervous system injuries while also minimising compensating for any functional changes that occur as a result of the injury. Neurorehabilitation devices aid in the reduction of symptoms and enhancement of neurological function. This gadget is most typically used for physiotherapy and to improve the quality of life of patients.
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One of the major factors driving the rise and demand for neurorehabilitation equipment is the increased prevalence and incidence rate of neurological illnesses. Furthermore, rapid technology improvements and an increase in the worldwide elderly population are expected to drive global market growth throughout the forecast period. Furthermore, the rising prevalence of neurological disorders such as Parkinson's disease, stroke, and multiple sclerosis causes mobility difficulties in patients, boosting market growth.
Moreover, in underdeveloped nations, the lack of personalised home care neurorehabilitation devices, as well as a lack of disposable income, will limit the growth of the neurorehabilitation devices market, whereas strict regulatory policies and increasing demands for skilled professionals may pose a threat to the market's growth.
DRIVERS
People are becoming more aware of neurorehabilitation technologies.
Neurorehabilitation Devices Advances in Technology
RESTRAINTS
Neurorehabilitation devices are expensive.
Strict guidelines
Lack of skilled professionals
OPPORTUNITIES
Culture and market trends
Increase in product approvals
Increase in investment
CHALLENGES
High cost
Inadequate epidemiological research
Rehab services receive less attention from the government.
Lack of awareness
COVID-19 has quickly escalated into a pandemic, wreaking havoc on health-care systems across the globe. COVID-19 identifies the need for healthcare in a large number of people in a very short period of time, outpacing the global emergency. Neurorehabilitation, also known as neurological rehabilitation, is an important aspect of the recovery process for people who have had a brain injury. During this time, a lot of charities have been working hard to provide further assistance to brain injury patients.
The COVID-19 effect's potential repercussions should never be overlooked. By delivering sessions electronically or over the phone, service providers for neurorehabilitation devices and services have made extraordinary efforts. It was quite tough to cope with this unknown transition because of the nature of diverse infirmities in patients. This has far-reaching implications.
By Type:
Neuro-robotic devices, non-invasive stimulators, and brain-computer interfaces make up the neurorehabilitation market. Due to factors such as increasing technological breakthroughs in non-invasive stimulators and increased demand for non-invasive methods for neurorehabilitation, the non-invasive stimulators segment led the global market in 2022 and is likely to continue dominate during the forecast period.
By Application:
It is divided into several categories, including brain stroke, Parkinson's disease, multiple sclerosis, spinal cord damage, traumatic brain injury, cerebral palsy, and others. The worldwide neurorehabilitation market was dominated by the brain stroke category in 2022, and this trend is expected to continue during the forecast period. This is due to the ever-increasing global prevalence of stroke.
By End User:
Cognitive Care Centers, hospitals, and clinics are the three types of facilities. Because of the increasing demand for neurorehabilitation in hospitals, hospitals held the biggest neurorehabilitation market share in 2022 and are likely to continue to do so during the forecast period.
By Type
Wearable Devices
Neuro-Robotic Devices
Brain-Computer Interface (BCIs)
Non-Invasive Stimulators
By Application type
Parkinson's Disease
Spinal cord injury
Brain stroke
Cerebral palsy
Multiple sclerosis
Schizophrenia etc.
By End-User type
Hospitals
Cognitive Care Centers
Clinics
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Due to growth in healthcare infrastructure, increased disposable income, and enterprises taking strategic measures to expand their operations in the region, Asia-Pacific is likely to achieve the fastest growth rate throughout the projection period. Furthermore, due to an increase in the frequency of neurological illnesses, increased demand for neurorehabilitation equipment, and a growing geriatric population, Asia-Pacific is expected to be the fastest-growing region in the global market.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
There are some of the major key players: Abbott Laboratories, BioScience Managers Ltd, Helius Medical Technologies, Medtronic Inc, Hocoma AG, Ekso Bionics Holdings Inc, Bionik Laboratories Corp, and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 1.29 Bn |
| Market Size by 2030 | US$ 2.58 Bn |
| CAGR | CAGR of 9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Wearable Devices, Neuro-Robotic Devices, Brain-Computer Interface (BCIs), Non-Invasive Stimulators) • By Application type (Parkinson's Disease, Spinal cord injury, Brain stroke, Cerebral palsy, Multiple sclerosis, Schizophrenia etc.) • By End-User type (Hospitals, Cognitive Care Centers, Clinics) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Abbott Laboratories, BioScience Managers Ltd, Helius Medical Technologies, Medtronic Inc, Hocoma AG, Ekso Bionics Holdings Inc, Bionik Laboratories Corp, and other players. |
| DRIVERS | • People are becoming more aware of neurorehabilitation technologies. • Neurorehabilitation Devices Advances in Technology |
| RESTRAINTS | • Neurorehabilitation devices are expensive. • Strict guidelines • Lack of skilled professionals |
Ans: The Neurorehabilitation size is estimated to reach US$ 2.58 bn by 2030.
Asia-Pacific is likely to achieve the fastest growth rate throughout the projection period.
Neurorehabilitation Market is divided into four segments and they are By Type, By Application Type, and, By End User Type
Neurorehabilitation devices are expensive, Strict guidelines is the restraints of the Neurorehabilitation market.
Ans: The Neurorehabilitation market is expected to grow at a CAGR of 9% over the forecast period 2023-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Neurorehabilitation Market Segmentation, By Type
8.1 Wearable Devices
8.2 Neuro-Robotic Devices
8.3 Brain-Computer Interface (BCIs)
8.4 Non-Invasive Stimulators
9. Neurorehabilitation Market Segmentation, By Application type
9.1 Parkinson's Disease
9.2 Spinal cord injury
9.3 Brain stroke
9.4 Cerebral palsy
9.5 Multiple sclerosis
9.6 Schizophrenia etc
10. Neurorehabilitation Market Segmentation, By End-User type
10.1 Hospitals
10.2 Cognitive Care Centers
10.3 Clinics
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Abbott Laboratories
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 BioScience Managers Ltd
12.3 Helius Medical Technologies
12.4 Medtronic Inc
12.5 Hocoma AG
12.6 Ekso Bionics Holdings Inc
12.7 Bionik Laboratories Corp.
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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