Neurorehabilitation Devices Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2729
Neurorehabilitation Devices Market size is set to garner significant growth momentum over 2021-2027, powered by the increasing occurrence of numerous neurological disorders, expanding elderly population base, and continuous technological advances in medicine. Worldwide, the number of people suffering from neurological conditions is estimated to hit 103 million by 2030, as per the WHO. Surge in problems such as stroke, Parkinson’s Disease, Alzheimer’s, cerebral palsy, traumatic brain injury, spinal cord injury, and others has augmented the patient pool undergoing neurorehabilitation procedures on a global level.
Neurorehabilitation devices help improve function, wellbeing, and reduce symptoms of people with disorders of the nervous system, trauma, and others. Degenerative diseases, tumors, infections, injuries, and defects in the circulatory system can impair the nervous system. Neurological rehabilitation devices help medical professionals and researchers in accurately tracking the movement and health parameters of patients.
Constant technological developments in neuroimaging technologies have improved the outcome and scope of neurorehabilitation significantly. These devices are helping bring cutting-edge improvements to therapies for patients with neurological conditions.
Parkinson’s disease application segment in the neurorehabilitation devices market will grow substantially through 2027. In the U.S. alone, the occurrence of Parkinson’s Disease is projected to reach 1.2 million by 2030. The need for advanced treatments and therapies for its treatment, ongoing R&D activities, and government investments in healthcare will fuel the segment growth.
North America neurorehabilitation devices market is poised to record commendable gains by the end of 2027 led by the presence of major biotech companies and medical devices makers. The regional occurrence of neurological disorders has surged significantly over the years. For instance, stroke is among the leading causes of severe long-term disability in the U.S. and leads to reduction in mobility in more than half of the stroke survivors aged 65 or more. The need to reduce the burden of neurological diseases will positively impact the regional growth.
Ekso Bionics, Alter G, Instead Technologies, Touch Bionics (Össur), Kinova Robotics, Bioness, St Jude Medical, Hocoma (DIH International Limited), and Meditouch are some of the major companies which are part of the neurorehabilitation devices business. With the increasing implementation of neurological rehabilitation therapies for faster treatment and recovery, the market players are witnessing promising growth opportunities.
In February 2021, Ekso Bionics’ Ekso GT robotic exoskeleton was utilized by a team of New Jersey researchers to demonstrate that high dosage therapy gait can aid in early rehabilitation in patients with acute stroke.
Impact of COVID-19 on neurorehabilitation devices market trends
The coronavirus outbreak has severely disrupted healthcare systems worldwide, putting significant strain on the community. Government actions such as lockdown restrictions and supply chain concerns have affected the delivery of neurological care services to some extent. According to a global survey conducted during the COVID-19 pandemic to address the impact on neurology services, neurorehabilitation was among the most severely affected cross-sectoral neurological services, experiencing a 56% decline.
Increasing impact of the pandemic on neurological services is propelling the need for effective healthcare policies, systems, and services worldwide. Action plans to mitigate the disruption of neurological services are in place which will bolster the industry forecast over 2021-2027.
Neurorehabilitation devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2021 to 2027, for the following segments:
Market by product, 2013-2024 (USD Million)
- Brain computer interface
- Neurorobotic system
- Non-invasive stimulators
- Wearable devices
Market by application, 2013-2024 (USD Million)
- Traumatic brain injury
- Spinal cord injury
- Parkinson’s disease
- Cerebral palsy
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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