The
global Neurorehabilitation Devices Market in 2015 was
valued at USD 915.1 million and is estimated to reach USD 3.2 billion by 2024.
Around 1 billion people are suffering from neurological disorders across the
globe. These neurological disorders are resulting in increased movement
disabilities. The increasing prevalence of movement disability, attributed to
various neurological disorders (multiple sclerosis, stroke, etc) along with
need for comprehensive management is the key factors driving the market growth.
Every
year around 15 million people suffer from stroke globally, of which 5 million
people are affected by permanent disability. Each year Multiple sclerosis and
Parkinson’s disease affect 2.5 million and 10 million patients respectively
worldwide. The increasing prevalence and incidence rates of neurological
disorders create a huge demand for neurorehab devices, as they ensure
simplification of routine tasks for the disabled patients by reducing their
dependency on others.
Furthermore,
the rising awareness of neurorehab services among the care providers is
contributing to the increasing adoption of these devices. In addition,
consistent technological advancements are leading to introduction and
commercialization of novel products in this sector. Majority of the
manufacturers and distributors of neurorehab platforms are headquartered in
North America region. North America dominates the market followed by Europe
attributed to the rising awareness and increased adoption of novel technologies
in these regions. Asia Pacific is growing at the highest CAGR among all the
regions due to increasing target population and improving healthcare
infrastructure.
Despite
fluctuating economic conditions across different geographical regions coupled
with the respective regulatory pressures, the companies offering neurorehab
devices and services are exhibiting adaptability and efficacy. Some of the key
market players are Bioness, Inc., Ectron Ltd., Hocoma AG, Medtronic, and
Tyromotion. Collaborations for novel product development and strengthening of
distribution networks constitute some of the strategic initiatives implemented
by key players. For instance, Ectron Ltd. has collaborated with Bioness, Inc.
and Tyromotion for distribution of their products across different geographical
regions.
Browse
Details of Report @
http://www.grandviewresearch.com/industry-analysis/neurorehabilitation-devices-market
http://www.grandviewresearch.com/industry-analysis/neurorehabilitation-devices-market
Further Key Findings from the Study Suggest:
- Neurorobotics
is expected to be one of the most lucrative segments in the coming years
owing to the high availability of exoskeletons and prosthetics targeted
for treating movement disabilities. Bioness, Inc. and Hocoma AG are few of
the key manufacturers of exoskeletons and prosthetics.
- Consistent
technological sophistications in brain stimulations and machine learning
brain-computer interface segment is expected to develop tremendously.
- Non invasive
stimulators have the potential to modulate brain plasticity. In February
2016, USFDA approved Medtronic’s brain stimulation therapy in the
treatment of Parkinson’s disease.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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