(MENAFN- GlobeNewsWire - Nasdaq) The neurorehabilitation devices market is expected to grow from US$ 2.73 billion in 2023, with CAGR of 12.7% during 2023–2031, Key advancements include AI, robotic rehabilitation, and brain-computer interfaces, with North America leading the market.
US & Canada, Jan. 28, 2025 (GLOBE NEWSWIRE) -- According to a comprehensive report from The Insight Partners,“ Neurorehabilitation Devices Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report“. The neurorehabilitation devices market is expected to reach US$ 7.09 billion by 2031 from US$ 2.73 billion in 2023; it is expected to register a CAGR of 12.7% from 2023 to 2031 .
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The global neurorehabilitation devices market is recording significant growth owing to the increasing demand for neurorehabilitation devices from people suffering from neurological diseases such as Parkinson's disease, stroke, multiple sclerosis (MS), Alzheimer's disease, and cerebral palsy to improve their motor skills, cognitive abilities, and overall quality of life. The neurorehabilitation devices market encompasses a growing patient pool suffering from various neurological diseases that are expected to gain prominence in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.
Neurorehabilitation Devices Market Overview of Report Findings
Market Growth: Neurorehabilitation devices are specialized devices designed to assist in the rehabilitation of individuals with neurological impairments or conditions, such as stroke, spinal cord injury, and traumatic brain injury, or neurodegenerative diseases such as Parkinson's disease or multiple sclerosis. These devices aim to improve motor, sensory, cognitive, or communication functions that may have been compromised due to brain or nervous system damage.
An increasing number of patients suffering from neurological diseases such as stroke, Parkinson's disease, multiple sclerosis (MS), Alzheimer's disease, and cerebral palsy requires neurorehabilitation devices to improve cognitive abilities, motor skills, and overall quality of life. Stroke is a leading cause of long-term disability, and it reduces mobility in half of stroke survivors aged 65 and older. As per the Global Stroke Fact Sheet 2022, every year, there are more than 12.2 million new strokes. One in four people over 25 is likely to have a stroke in their lifetime. The factsheet also stated that there are more than 101 million people currently living across the globe who have already experienced a stroke. The Centers for Disease Control and Prevention estimated that annually, more than 795,000 people in the US have a stroke. Neurorehabilitation devices are widely used to improve memory and communication difficulties and reduce neuropsychiatric symptoms, thereby helping improve the quality of life of dementia patients. Per the World Health Organization fact sheet in 2023, globally, more than 55 million people had dementia, and ~10 million new cases are diagnosed every year. As per the Parkinson's Foundation, in 2022, approximately one million people in the US had Parkinson's disease, and ~90,000 new cases are diagnosed every year. The number of patients who have Parkinson's disease is expected to rise to 1.2 million by 2030. The increasing prevalence of neurological diseases worldwide creates a burden on healthcare systems, bolstering the demand for neurorehabilitation devices.
Strategic initiatives taken by market players, such as mergers, acquisitions, partnerships, and collaborations, are likely to accelerate innovation, develop expertise, and expand market reach. In April 2022, Blackrock Neurotech partnered with Phantom Neuro, a neurotech startup, to carry out R&D for Phantom Neuro's patent-pending Phantom X system, which offers patients highly accurate, almost real-time control of current and next-generation assistive devices, such as prosthetics and exoskeletons. This research and development partnership allows Phantom to use Blackrock's decades of experience in neurotechnology and develop biocompatible implantable sensors to complement and bolster the Phantom X platform. In October 2022, DIH, a leading global robotics and virtual reality (VR) technology company for advanced rehabilitation care, announced the complete purchase of Gorbel, Inc.'s Rehabilitation Division. All three SafeGait devices will continue to be manufactured in the US and are now listed with the FDA under DIH Technology, Inc. Thus, the strategic growth initiatives taken by the market players are likely to create lucrative opportunities for the neurorehabilitation devices market in the near future.
Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. Asia Pacific is expected to record the highest CAGR during the forecast period.
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Competitive Strategy and Development
Key Players: Major companies operating in the neurorehabilitation devices market include Blackrock Microsystems Inc, Hocoma AG, Medtronic Plc, Tyromotion GmbH, Ekso Bionics Holdings Inc, BIONIK, Abbott Laboratories, Renishaw Plc, EMOTIV, and BioXtreme Ltd.
Trending Topics: Wearable Neurorehabilitation Devices, Robotic Rehabilitation Devices, Virtual Reality (VR) and Augmented Reality (AR) in Neurorehabilitation, Neuromodulation Devices, Artificial Intelligence (AI) and Machine Learning (ML) in Therapy Personalization, Tele-rehabilitation and Remote Monitoring, and Brain-Computer Interfaces (BCI) for Neurorehabilitation
Global Headlines on Neurorehabilitation Devices
MindMaze launches Izar neurological rehabilitation device in USA and Europe Trilife Hospital Launches Advanced Neuro Rehabilitation and Sports Medicine Center Flint Rehab Launches MiGo at CES 2019, a First-of-its-Kind Neurorehab Wearable to help Stroke Survivors Regain Independence Sumitomo Pharma and MELTIN Enter into Marketing Alliance for MELTz Hand Rehabilitation System and Launch It
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Market Segmentation
Based on product type, the neurorehabilitation devices market is segmented into neurorobotic system, brain computer interface, non-invasive stimulators, and wearable devices. The brain computer interface segment held the largest market share in 2023. By application, the neurorehabilitation devices market is segmented into stroke, traumatic brain injury, spinal cord injury, Parkinson's disease, cerebral palsy, and others. The stroke segment held the largest share of the market in 2023. In terms of end user, the neurorehabilitation devices market is divided into rehabilitation centers, hospitals and clinics, and home care. The hospitals and clinics segment dominated the market in 2023. The neurorehabilitation devices market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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Conclusion
The neurorehabilitation devices market is witnessing rapid growth, which is majorly driven by technological advancements, an aging global population, and the increasing prevalence of neurological disorders such as stroke, spinal cord injuries, brain trauma, and neurodegenerative diseases. As research and development progress, the market is shifting toward more innovative, accessible, and personalized solutions for rehabilitation devices. Moreover, telerehabilitation platforms and remote monitoring systems are expanding the reach of neurorehabilitation, enabling patients to receive care at home. The market is also becoming more patient-centered, with a strong emphasis on personalization. Devices are increasingly tailored to meet the unique needs of individual patients, using AI and real-time data analytics to adjust treatment plans.
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