Global Neurorehabilitation Device Market will be boosted by Rise in Geriatric Population Worldwide

Global Neurorehabilitation Device Market is expected to be worth roughly USD 5.6 Billion by 2030, growing at a CAGR of more than 14.8% during the projected timeframe of 2022-2030, according to Ameco Research

With the rise of the pace of innovation, neuroscientists are looking into prospects in virtual reality (VR) and augmented reality (AR) to help stroke victims recover faster. The significant rise in the prevalence of neurological disorders such as stroke, Parkinson's disease, and others is likely to fuel the neurorehabilitation devices market growth. For example, the World Health Organization (WHO) predicts that the number of individuals suffering from neurological illnesses would increase from 95 million in 2015 to 103 million by 2030. These worrying statistics highlight the importance of reducing the frequency of these diseases, which will eventually increase the desire for neurorehabilitation devices.

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Neurorehabilitation device technologies are those that employ technological advancements in the field of the physiotherapist. Regardless of the severity of the disability, the majority of neurological rehabilitation equipment is designed to make learning or having to learn motor abilities easier. Non-invasive brain stimulators, brain-computer interfaces, neurorobotic systems, as well as wearable devices are all examples of neurorehabilitation equipment. These gadgets aid in the decrease of symptoms and the enhancement of neurological-related function. They are most typically employed in physiotherapy and help patient’s live better life. Skilled personnel are necessary to handle this gadget and assist patients in improving brain function. Neuro-Robotic Products, Portable Products, Non-Invasive Electrical stimulation, as well as Brain-Computer Interfaces are only a few of the products that are currently available.

Neurorehabilitation Device Market Report Coverage:

Global Neurorehabilitation Device Market Dynamics                     

The increased incidence and prevalence rate of neurological illnesses is one of the major factors driving the rise and demand for the neurorehabilitation devices market value. Furthermore, rapid technology improvements and a rise in the worldwide elderly population are driving growth in the global market throughout the predicted period. Furthermore, the rise in the prevalence of neurological disorders such as Parkinson's disease, cerebrovascular disease, or multiple sclerosis causes mobility difficulties in patients, boosting the market growth. Further, the rapidly growing senior population and the effectiveness of gaming systems in neurorehabilitation are important factors contributing to the expansion of the neurorehabilitation devices market revenue. Increased R&D will ensure rapid industry growth during the projection period.

The emergences of wearable technologies and robots, as well as increased healthcare infrastructure spending, are a few growth possibilities for the worldwide neurorehabilitation devices market trend. Consumers desire a single portable device that can handle all of their computing or monitoring needs. This desire provides a chance to explore the creation of multi-function & hybrid wearable devices that give consumers convenience while also integrating the capabilities of multiple platforms into a small composite wearable sensor. In addition, the amount of such equipment is likely to grow in the future years. This element is likely to provide an excellent chance for businesses to develop wearable tech devices.

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Market Segmentation   

Ameco Research has fragmented the global neurorehabilitation device market by product, and application. In terms of product, the market is sub-divided into neurorobotics, wearable devices, brain-computer interface, and noninvasive stimulators. The Neurorobotic Devices segment accounts for a sizable share of the market in the Skull Stabilization as well as Fixation Systems market are expected to exhibit a similar pattern throughout the forecast period as a result of advancements in robotic systems and their amalgamation with neuroscience, which is resulting in the upsurge of next-generation remediation technologies. Furthermore, the growing prevalence of neurological diseases, the aging of the population, and technological advancements are important driving factors in the neurorobotics industry.

Based on the application, the segment is sub-categorized into stroke, spinal cord injury, cerebral palsy, traumatic brain injury, parkinson’s disease, and others. According to the neurorehabilitation device market forecast, the stroke segment is estimated to grow significantly in the market over the next few years.

Regional Outlook            

The global neurorehabilitation device market is divided into different regions: Europe, Asia-Pacific, Latin America, North America, and the Middle East and Africa. According to the neurorehabilitation device industry analysis, the Asia-Pacific market is expected to have additional growth prospects in the coming years. Despite the fact that currently no monopolised main players, expanding the base of customers with neurological illnesses and improved healthcare infrastructure will open up new opportunities for enterprises to enter this profitable market. Furthermore, increased awareness, combined with constant improvement healthcare system, is one of the primary development reasons for the Asian industry. Businesses are adopting strategic measures to develop their enterprises in this region due to the significant market potential.

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Market Competitors

Some of the most notable worldwide neurorehabilitation device market players are Alter G, Bioness, Ekso Bionics, Instead Technologies, Touch Bionics, Bionik Laboratories Corp., Hocoma, St Jude Medical, Meditouch, and Kinova Robotics.

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