Neurorehabilitation Devices Market By Product Type (Non-invasive Stimulators, Wearable Devices, Neurorobotic System, Brain-computer Interface), By Disease Type (Brain Stroke, Parkinson’s Disease, Cerebral Palsy, Traumatic Brain Injury, Others), By End-User (Hospitals, Clinics, Ambulatory Surgical Centers), and Geography

 

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The global neurorehabilitation market size was valued at USD 1.26 billion in 2021 and is expected to reach USD 3.25 billion by 2028, at a CAGR of 12.4% during the forecast period 2022 to 2028. Neurorehabilitation is the medical procedure that aims to recover the nervous system injury that results in the functional nervous system from the non-functional nervous system and improve the well-being of an individual. Neurorehabilitation devices are used in Parkinson’s disease, cerebral palsy, multiple sclerosis, stroke recovery, and brain injury among others. The neurorehabilitation procedure allows for the reduction of deficits and impairments, thereby enhancing the patient's quality of life. Neurorehabilitation devices include invasive stimulators, non-invasive stimulators, neurorobotics, and brain-computer interfaces. Global market exhibiting lucrative growth owing to increase in the prevalence of neurovascular diseases. According to World Health Organization 2014, approximately 15 Mn people are affected with neurological disorders each year, from which approximately 5 Mn people suffer from permanent disability. Moreover, market players are actively involved in the development of innovative products with novel technologies such as nanotechnology, wearable technology, robotics, and other non-invasive technologies to garner larger market share. In addition, acquisitions and mergers between the market players is a key strategy adopted by market players for generating larger revenue in neurorehabilitation market. For instance, in March 2016, Bionik Laboratories Corp. inked a merger agreement with Interactive Motion technologies, Inc. for expanding the company’s neurorehabilitation devices portfolio. Key Developments: In October 2017, Civitas Solution acquired Mentis Neuro Rehabilitation, LLC for the expansion of business in neurorehabilitation devices

Neurorehabilitation Devices Market Summary

Study Period

2023-29

Base Year

2022

CAGR

12.4%

Largest Market

North America

Fastest Growing Market

Europe
Neurorehabilitation Devices Market Dynamics

Increase in the prevalence of neurological diseases such as brain injury and Parkinson’s disease, rise in preference for minimally invasive procedures, technological advancements in the neurorehabilitation devices, and favorable reimbursement policies are anticipated to fuel the neurorehabilitation devices market over the forecast period. Moreover, rise in R&D for the innovation of newer products, increase in geriatric population, and rise in healthcare expenditure, and advancements in robotic surgery are anticipated to boost the neurorehabilitation devices market over the forecast period. However, high cost of devices, stringent regulatory policies for product approval, and product recall may hamper the growth of neurorehabilitation devices market over the forecast years.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Neurorehabilitation Devices Market Segmentation

By Product Type
  • Non-invasive Stimulators
  • Wearable Devices
  • Neurorobotic System
  • Brain-computer Interface
Disease Type
  • Brain Stroke
  • Parkinson’s Disease
  • Cerebral Palsy
  • Traumatic Brain Injury
  • Others
By End User
  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers

Frequently Asked Questions

The neurorehabilitation devices market is projected to expand at a CAGR of 12.4% during the forecast period

Medtronic, Abbott Laboratories, Hocoma AG, Ekso Bionics Holding Inc.

North America is the fastest-growing region for the neurorehabilitation devices market

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  • Medtronic plc (Ireland)
  • Abbott Laboratories (U.S.)
  • Hocoma AG (DIH International Ltd.) (Switzerland)
  • Ekso Bionics Holding Inc. (U.S.)
  • Interactive Motion Technologies (U.S.)
  • Bionik laboratories Corp. (Canada)
  • Tyromotion (Austria)
  • Bioxtreme Robotics Rehabilitation (Israel)
  • Civitas Solutions (U.S.)
  • Neurostyle Pte Ltd. (Singapore)