Neurorehabilitation is a progressive recovery treatment mode, whereby patients suffering from motion impairment resulting from neurological disorders restore their lost abilities. Neurorehab devices ensure functional restoration for patients with neurological disorders. Neurorehab process facilitates reduction in impairments and disabilities, ultimately improving quality of patient’s life. Neurological diseases affect around 1 billion people across the world. These alarming statistics create a potential demand for the novel and innovative rehabilitation technologies aimed at treating several neurological disorders.
"Neurorehabilitation devices facilitate restoration of lost functions in disabled patients"
Neurorobotics, brain computer interface and non-invasive stimulators constitute some of the examples of neurorehabilitation devices. Neurorobotics being the largest segment comprises technologically advanced exoskeletons and prosthetics, employed to support patients suffering from movement impairments. Customized rehabilitation services are available according to the specified patient requirements as different neurological diseases result in physical disability of varying degrees.
The rehabilitation platforms for treating neurological conditions possesses the potential to improve overall quality and conduct of patient’s life, suffering from movement impairments due to various reasons. The prevalence and incidence rates of neurological disease are increasing worldwide. Therefore, the number of patients suffering from motion impairment is also increasing. Technological sophistications and intensifying research and development initiatives is likely to drive the market in North America and Europe. On the other hand, Asia Pacific is expected to grow at the fastest pace due to increasing target population.
Most of the key players involved in manufacturing and distribution of several neurorehab devices are established in North America region followed by Europe.Ekso Bionics Holdings, Inc., and Medtronic PLC (US), Bionik Laboratories, Kinova Robotics and NINET (Canada) are based in North America.The key companies in the UK include Biometrics and Ectron Ltd. These players are implementing strategic initiatives to expand their operations in emerging geographical markets. For instance, Ectron Ltd. has collaborated with Austria based company Tyromotion to expand its distribution. In addition, Switzerland based Hocoma AG expanded in Indian market by collaborating with Apollo Hospitals to offer neurorehabilitation devices and services.
"Neurorehabilitation Market Outlook"
The global neurorehabilitation devices market was valued at USD 915.1 million in 2015 and is expected to reach USD 3.2 billion by 2024 at a 15.1% CAGR. North America is estimated to dominate the market at 1.3 billion in 2024. Asia Pacific market will grow at highest CAGR of 16.0% during the forecast period.
In-depth report on global neurorehabilitation devices market by Grand View Research: