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Neurorehabilitation Devices Market – By Product Type (Neurorobotics, Wearable Devices, BCI, Non-Invasive Stimulators), By Application (Stroke, MS, Parkinsons Disease, Spinal Cord Injury), By End-use (Hospitals, Specialty Clinics) & Forecast, 2024-2032
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Neurorehabilitation Devices Market
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Premium Report Details
Base Year: 2023
Companies covered: 14
Tables & Figures: 221
Countries covered: 22
Pages: 143
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Neurorehabilitation Devices Market Size
Neurorehabilitation Devices Market was valued at USD 1.9 billion in 2023 and is anticipated to grow at a CAGR of over 13.4% between 2024 and 2032. Neurorehabilitation devices refer to a category of medical devices designed to aid in the rehabilitation and recovery of individuals with neurological disorders or injuries. The rising prevalence of neurological disorders is anticipated to augment the market growth. Globally, one in four individuals face the risk of experiencing a stroke in their lifetime, as per the World Health Organization (WHO). Additionally, as per statistics, an estimated 1.8 million people are affected by multiple sclerosis in 2023, while over 10 million individuals suffer with Parkinson's disease worldwide. Thus, as the incidence of neurological disorders increases globally, there is a growing demand for effective rehabilitation solutions to address the resulting impairments and disabilities, thereby stimulating market growth.
Furthermore, ongoing technological advances are pivotal in developing innovative neurotech devices, such as EksoNR Robotic Exoskeletons, InMotion Robotics, BrainRobotics hand (brain-computer interfaces), virtual reality, and wearable medical devices, which is estimated to reach USD 750 billion by 2032. These state-of-the-art technologies contribute significantly to more personalized and engaging rehabilitation interventions, enhancing patient outcomes through sophisticated and tailored approaches.
Neurorehabilitation Devices Market Trends
Elevated R&D activities propel the development of innovative neurorehabilitation devices and technique, promising enhanced patient outcomes. Pivotal collaborations among academia, healthcare, and industry foster a multidisciplinary approach in R&D activities to address neurological disorders. This synergy accelerates innovation, grounding emerging technologies in scientific rigor and practical applicability.
Neurorehabilitation Devices Market Analysis
The neurorehabilitation devices industry by product type is categorized into neurorobotics, wearable devices, brain-computer interface (BCI), non-invasive stimulators, and other product types. The neurorobotics segment garnered USD 604 million revenue size in the year 2023.
Thus, the continuous evolution and innovation within the neurorobotics segment further position it as a key catalyst in stimulating the expansion of the neurorehabilitation devices market.
Based on applications, the market unfolds into distinctive domains such as stroke, multiple sclerosis (MS), Parkinson’s disease, spinal cord injury, traumatic brain injury, cerebral palsy, and other applications. The stroke segment garnered USD 496 million revenue size in the year 2023.
Thus, the growing emphasis on early and intensive rehabilitation for stroke survivors is anticipated to propel market statistics, as these devices contribute to improved patient outcomes and enhanced quality of life.
Based on end-use, the market unfolds its segmentation, encompassing the domains of hospitals, specialty clinics, and other end users. The hospitals segment garnered USD 894 million revenue size in the year 2023.
U.S. neurorehabilitation devices market accounted for USD 693 million revenue size in 2023 and is predicted to witness substantial market growth over the analysis timeline.
Neurorehabilitation Devices Market Share
The neurorehabilitation devices industry is consolidated, with key players including Bioventus LLC, Hocoma (DIH Medical), Bionik Laboratories Corp., Ekso Bionics Holdings, Inc, and others dominating the market. These companies focus on ongoing product innovation, geographical expansion, and partnerships to secure substantial position in the market. For instance, in March 2021, Bioventus Inc., a globally recognized leader in active healing solutions, acquired Bioness, Inc., a prominent global player in neuromodulation and rehabilitation medical devices. This strategic acquisition included Bioness's complete product portfolio, encompassing cutting-edge peripheral nerve stimulation ("PNS") therapy and high-quality rehabilitation solutions, along with its active research and development initiatives. This move substantially broadened Bioventus's array of products, leading to increased revenue streams for the company.
Neurorehabilitation Devices Market Companies
Some of the eminent market participants operating in the neurorehabilitation devices industry include:
Neurorehabilitation Devices Industry News:
Neurorehabilitation devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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Market, By Product Type
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: