The global neurorehabilitation devices market size was estimated to be USD 2.00 billion in 2023 and is expected to reach at USD 8.48 billion by 2034 with a CAGR of 14.03% during the forecast period 2024-2034. Surge in geriatric population, growing prevalence of neurological disorders, rising technological developments in neurorehabilitation devices, increasing clinical research endeavours aimed at expanding and enhancing product portfolios, surge in investments in the expansion of the rehabilitation sector focusing on clinical trials & ongoing research within the realm of neurological rehabilitation by major industry stakeholders, growing collaborations within market players, and rising launch of technologically advanced neurorehabilitation devices are some of the key factors boosting the market growth.
Rising launch of technologically advanced neurorehabilitation devices is predicted to boost the market growth during the forecast period. These technological breakthroughs have enhanced patient outcomes, broadened the availability of rehabilitation services, and elevated the level of individualization in therapy regimens. Hence, due to increasing need for neurorehabilitation treatments among a growing number of individuals is driving a higher demand for advanced and efficient technologies. For instance, in February 2023, MindMaze has launched Izar, a recently available tool in the United States and various European nations, including Switzerland, France, and Germany. Its primary function is to assist individuals with neurological disorders like Parkinson's disease in assessing and enhancing their hand function through specialized exercises.
By product, neurorobotics was the highest revenue-grossing segment in the global neurorehabilitation devices market in 2023 owing to the growing incidence of neurological disorders, rising introduction of new products in neurorobotics used to treat these disorders, increasing focus on developing advanced products by neurorobotics-focused companies, and surge in research & development activities. Additionally, wearable devices is predicted to grow at fastest CAGR during the forecast period owing to the growing technological advancements and rising novel product launches by market players. For instance, in April 2023, Sensoria Health has partnered with Padula Rehabilitation Technologies (PRT) to introduce NeurOpTrek, a groundbreaking wearable device created to enhance vision and reduce the risk of falls. This development holds particular importance for the elderly demographic, where preventing falls is a crucial health priority.
By therapy, stroke was the highest revenue-grossing segment in the global neurorehabilitation devices market in 2023 owing to the growing aging population, surge in demand for robotic exoskeletons, which can assist with walking & various mobility aspects, increasing utilization of Functional Electrical Stimulation (FES) technology is leading to muscle contractions stimulation, ultimately resulting in improved muscle strength, rising number of stroke patients, and growing collaborations to launch innovative systems. For instance, in September 2022, Sumitomo Pharma Co. Ltd. and MELTIN MMI have announced their partnership for the launch and marketing of the MELTz Hand Rehabilitation System. While both companies jointly developed the product, MELTIN has obtained the device certification necessary for its distribution and manufacturing. Additionally, Parkinson’s disease is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of Parkinson's disease, rising demand for medical care, growing awareness regarding the symptoms & risk factors for the condition, and surge in innovations in medical imaging & diagnostic testing techniques.
By end-user, hospitals was the highest revenue-grossing segment in the global neurorehabilitation devices market in 2023 owing to the rising demand of neurorehabilitation in hospitals, surge in number of patients suffering from neurological disorders. Additionally, cognitive care centers is predicted to boost the market growth during the forecast period owing to the increasing technological advancements and rising partnerships & collaborations within market players. For instance, in May 2023, The University of Calgary, in collaboration with Alberta Health Services, has inaugurated the RESTORE (Researching Strategies for Rehabilitation) Network. This network's primary objective is to conduct clinical studies and develop novel treatments to improve the quality of life for individuals dealing with neurological illnesses.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising geriatric population who are high risk of developing neurological diseases, surge in need for neurorehabilitation equipment, growing initiatives by leading market players to raise awareness, increasing use of neurorehabilitation, and rising mergers & acquisitions between market players. For instance, in April 2022, Blackrock Neurotech has acquired MindX to bolster the development of cutting-edge brain-computer interface solutions. Through the amalgamation of Blackrock's hardware expertise with MindX's software capabilities, the company aims to enhance its neural data analysis capabilities and provide greater adaptability and customization for a wide range of applications in the field of brain-computer interfaces (BCI). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing incidence of hypertension, surge in improvement in the quality of diagnosis, increasing patient affordability, rising awareness regarding neurorehabilitation devices, growing healthcare infrastructure, and surge in launch of neurorehabilitation centers. For instance, in March 2023, Lupin, a prominent pharmaceutical company in India, has unveiled Atharv Ability, a state-of-the-art, multi-disciplinary neurorehabilitation center located in Mumbai. This facility is recognized as one of the most advanced of its kind in the country, offering cutting-edge approaches and devices, including robotics and computer-assisted techniques for neurorehabilitation.
Rising launch of technologically advanced neurorehabilitation devices is predicted to boost the market growth during the forecast period. These technological breakthroughs have enhanced patient outcomes, broadened the availability of rehabilitation services, and elevated the level of individualization in therapy regimens. Hence, due to increasing need for neurorehabilitation treatments among a growing number of individuals is driving a higher demand for advanced and efficient technologies. For instance, in February 2023, MindMaze has launched Izar, a recently available tool in the United States and various European nations, including Switzerland, France, and Germany. Its primary function is to assist individuals with neurological disorders like Parkinson's disease in assessing and enhancing their hand function through specialized exercises.
By product, neurorobotics was the highest revenue-grossing segment in the global neurorehabilitation devices market in 2023 owing to the growing incidence of neurological disorders, rising introduction of new products in neurorobotics used to treat these disorders, increasing focus on developing advanced products by neurorobotics-focused companies, and surge in research & development activities. Additionally, wearable devices is predicted to grow at fastest CAGR during the forecast period owing to the growing technological advancements and rising novel product launches by market players. For instance, in April 2023, Sensoria Health has partnered with Padula Rehabilitation Technologies (PRT) to introduce NeurOpTrek, a groundbreaking wearable device created to enhance vision and reduce the risk of falls. This development holds particular importance for the elderly demographic, where preventing falls is a crucial health priority.
By therapy, stroke was the highest revenue-grossing segment in the global neurorehabilitation devices market in 2023 owing to the growing aging population, surge in demand for robotic exoskeletons, which can assist with walking & various mobility aspects, increasing utilization of Functional Electrical Stimulation (FES) technology is leading to muscle contractions stimulation, ultimately resulting in improved muscle strength, rising number of stroke patients, and growing collaborations to launch innovative systems. For instance, in September 2022, Sumitomo Pharma Co. Ltd. and MELTIN MMI have announced their partnership for the launch and marketing of the MELTz Hand Rehabilitation System. While both companies jointly developed the product, MELTIN has obtained the device certification necessary for its distribution and manufacturing. Additionally, Parkinson’s disease is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of Parkinson's disease, rising demand for medical care, growing awareness regarding the symptoms & risk factors for the condition, and surge in innovations in medical imaging & diagnostic testing techniques.
By end-user, hospitals was the highest revenue-grossing segment in the global neurorehabilitation devices market in 2023 owing to the rising demand of neurorehabilitation in hospitals, surge in number of patients suffering from neurological disorders. Additionally, cognitive care centers is predicted to boost the market growth during the forecast period owing to the increasing technological advancements and rising partnerships & collaborations within market players. For instance, in May 2023, The University of Calgary, in collaboration with Alberta Health Services, has inaugurated the RESTORE (Researching Strategies for Rehabilitation) Network. This network's primary objective is to conduct clinical studies and develop novel treatments to improve the quality of life for individuals dealing with neurological illnesses.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising geriatric population who are high risk of developing neurological diseases, surge in need for neurorehabilitation equipment, growing initiatives by leading market players to raise awareness, increasing use of neurorehabilitation, and rising mergers & acquisitions between market players. For instance, in April 2022, Blackrock Neurotech has acquired MindX to bolster the development of cutting-edge brain-computer interface solutions. Through the amalgamation of Blackrock's hardware expertise with MindX's software capabilities, the company aims to enhance its neural data analysis capabilities and provide greater adaptability and customization for a wide range of applications in the field of brain-computer interfaces (BCI). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing incidence of hypertension, surge in improvement in the quality of diagnosis, increasing patient affordability, rising awareness regarding neurorehabilitation devices, growing healthcare infrastructure, and surge in launch of neurorehabilitation centers. For instance, in March 2023, Lupin, a prominent pharmaceutical company in India, has unveiled Atharv Ability, a state-of-the-art, multi-disciplinary neurorehabilitation center located in Mumbai. This facility is recognized as one of the most advanced of its kind in the country, offering cutting-edge approaches and devices, including robotics and computer-assisted techniques for neurorehabilitation.
Segmentation: Neurorehabilitation Devices Market Report 2023 - 2034
Neurorehabilitation Devices Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Non-Invasive Stimulators
- Brain-Computer Interface
- Neurorobotics
- Wearable Devices
- Others
Neurorehabilitation Devices Market Analysis & Forecast by Therapy 2023 - 2034 (Revenue USD Bn)
- Stroke
- Cerebral Palsy
- Multiple Sclerosis
- Parkinson’s Disease
- Others
Neurorehabilitation Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals & Clinics
- Cognitive Care Centers
- Others
Neurorehabilitation Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Neurorehabilitation Devices Market: Product Estimates & Trend Analysis
8. Neurorehabilitation Devices Market: Therapy Estimates & Trend Analysis
9. Neurorehabilitation Devices Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Neurorehabilitation Devices Market
12. Europe Global Neurorehabilitation Devices Market
13. Asia Pacific Global Neurorehabilitation Devices Market
14. Latin America Global Neurorehabilitation Devices Market
15. MEA Global Neurorehabilitation Devices Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Medtronic
- Bionik Laboratories Corp. (BNKL)
- Ectron
- BioXtreme Ltd.
- MindMaze
- Hocoma
- Kinova Inc.
- Saebo Inc.
- Bioventus
- Kinestica
- Abbott
- Ekso Bionics
- Biometrics Ltd.
- Tyromotion Inc.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | January 2024 |
Forecast Period | 2023 - 2034 |
Estimated Market Value ( USD | $ 2 Billion |
Forecasted Market Value ( USD | $ 8.48 Billion |
Compound Annual Growth Rate | 14.0% |
Regions Covered | Global |
No. of Companies Mentioned | 14 |