Market Research Future has published research report on Neurorehabilitation Devices Market to provide detailed analysis of the market structure along with forecast for the next 7 years of the various segments and sub-segments of the Neurorehabilitation Devices Market
Pune, India -- (SBWIRE) -- 07/31/2018 -- The increasing incidences of neurological disorders are accelerating the demand for neurorehabilitation devices. Market Research Future (MRFR) has revealed in its latest report that the Global Neurorehabilitation Devices Market will proliferate saliently and reach a market valuation of USD 2.25 Bn by 2022.
According to the World Health Organization (WHO), 15 million people suffer from stroke every year, out of which 5 million are permanently disabled. Also, it is estimated that the number of patients suffering from Parkinson's disease will reach 8.7 million in 2030 up from 4.1 million in 2005. The effectiveness and utility of the neurorehabilitation devices in recalibrating neural pathways or training new neural pathways for improvements in cognitive functioning will result in increased revenue over the next couple of years.
The adoption of the latest technology into the treatment of neurological disorders has opened up avenues for innovative product offerings which will aid market proliferation across the assessment period. The top-notch players are tapping opportunities exhibited by robotics and artificial intelligence for enhancing productivity. The growing credibility of the medical services available for the treatment of neurological disorders will drive the market growth and expansion. However, the lack of innovation in neurological devices in certain underdeveloped regions such as African countries will hold the revenue creation of the market.
Neurorehabilitation Devices Market - Competitive Dashboard
The key players profiled by MRFR in its report include Bioness, Inc., Denecor, Ectron Ltd., Ekso Bionics, MagVenture A/S, Medtronic, Neuro Style, Helius Medical Technologies, Hocoma AG, Rehab-Robotics Company Limited, Rehabtronics Inc, St Jude Medical Inc., Tyromotion, Bionik Labs, and Bioxtreme among others. The players try to gain control over the market by responding to technological changes. The strategies employed by the market players for increasing revenue include product innovation, acquisitions & mergers, agreements, etc.
Neurorehabilitation Devices Market - News
In June 2018, Switzerland-based MindMaze has received FDA clearance for MindMotion Go which is a gamified neurorehabilitation therapy platform.
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Neurorehabilitation Devices Market - Segmentation
By product type, the market neurorehabilitation market is segmented into neuro-robotic devices, wearable devices, non-invasive stimulators, brain computer interface, and others.
By application, the global neurorehabilitation market has been segmented into Parkinson's disease, spinal cord injury, brain trauma injury, stroke, cerebral palsy, schizophrenia, and others.
By end user, the neurorehabilitation market is segmented into hospitals/clinics, cognitive care centers, research institutes, and others.
Neurorehabilitation Devices Market - Regional Analysis
By region, the market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Presently, Americas is the most lucrative market in the global neurorehabilitation devices market. The prominent market players participating in the growth and expansion of the Americas market are constantly innovating their product portfolios which will fuel the market growth during the projection period. Furthermore, the region has been witnessing large-scale prevalence of neurological disorders, for instance, about one million U.S. citizens are suffering from Parkinson's disease and the figures are likely to increase throughout the review period. Europe market closely trails Americas market in terms of market size and revenue. The growth in this region can be ascribed to factors such as increasing patient pool, rising healthcare expenditure, technological advancements, developing healthcare sector, etc.
Asia Pacific is the fastest growing market, and the trend is likely to continue over the next couple of years. The region has exhibited its potential in adopting the latest technologies which will accelerate the market growth throughout the forecast period. The booming healthcare sector in Asia Pacific is backed by its governments which ensures an all-round development of the market. The presence of emerging economies such as India, China, Japan, etc. will encourage the market expansion. The Middle East & Africa market will account for the least share over the assessment period due to the underdeveloped healthcare sector.
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