Neurorehabilitation Devices Market

Neurorehabilitation Devices Market Size

Neurorehabilitation Devices Market was valued at USD 1.9 billion in 2023 and is anticipated to grow at a CAGR of over 13.4% between 2024 and 2032. Neurorehabilitation devices refer to a category of medical devices designed to aid in the rehabilitation and recovery of individuals with neurological disorders or injuries. The rising prevalence of neurological disorders is anticipated to augment the market growth. Globally, one in four individuals face the risk of experiencing a stroke in their lifetime, as per the World Health Organization (WHO). Additionally, as per statistics, an estimated 1.8 million people are affected by multiple sclerosis in 2023, while over 10 million individuals suffer with Parkinson's disease worldwide. Thus, as the incidence of neurological disorders increases globally, there is a growing demand for effective rehabilitation solutions to address the resulting impairments and disabilities, thereby stimulating market growth.

Furthermore, ongoing technological advances are pivotal in developing innovative neurotech devices, such as EksoNR Robotic Exoskeletons, InMotion Robotics, BrainRobotics hand (brain-computer interfaces), virtual reality, and wearable medical devices, which is estimated to reach USD 750 billion by 2032. These state-of-the-art technologies contribute significantly to more personalized and engaging rehabilitation interventions, enhancing patient outcomes through sophisticated and tailored approaches.

Neurorehabilitation Devices Market Trends

Elevated R&D activities propel the development of innovative neurorehabilitation devices and technique, promising enhanced patient outcomes. Pivotal collaborations among academia, healthcare, and industry foster a multidisciplinary approach in R&D activities to address neurological disorders. This synergy accelerates innovation, grounding emerging technologies in scientific rigor and practical applicability.

• For instance, the National Institute of Neurological Disorders and Stroke (NINDS) actively conducts rigorous neuroscience research, spanning basic nervous system function, rehabilitation strategies, clinical trial readiness, and essential needs. These initiatives complement private sector R&D, fostering a holistic advancement in neurological science.
  
• Thus, the collaborative spirit ensures the ongoing research and development of effective, targeted neurorehabilitation solutions, thereby benefiting individuals suffering with neurological impairments.
  
• Furthermore, the escalating recognition among healthcare practitioners, individuals, and those providing care regarding the advantages of rehabilitation equipment serves as a pivotal stimulator.
  
• This heightened awareness results in the prompt adaptation of these devices, enhanced incorporation into rehabilitation initiatives, and elevated patient adherence, thereby exerting a positive influence on the market.
  

Neurorehabilitation Devices Market Analysis

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The neurorehabilitation devices industry by product type is categorized into neurorobotics, wearable devices, brain-computer interface (BCI), non-invasive stimulators, and other product types. The neurorobotics segment garnered USD 604 million revenue size in the year 2023.

• Neurorobotics devices, such as robotic exoskeletons and robotic-assisted therapies, offer personalized and adaptable solutions for individuals with neurological disorders. These devices enable intensive and repetitive training, promoting neuroplasticity and functional recovery.
  
• Furthermore, the increasing adoption of neurorobotics is projected to propel market growth by addressing the specific rehabilitation needs of patients, enhancing therapy effectiveness, and contributing to improved overall patient outcomes.
  

Thus, the continuous evolution and innovation within the neurorobotics segment further position it as a key catalyst in stimulating the expansion of the neurorehabilitation devices market.

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Based on applications, the market unfolds into distinctive domains such as stroke, multiple sclerosis (MS), Parkinson’s disease, spinal cord injury, traumatic brain injury, cerebral palsy, and other applications. The stroke segment garnered USD 496 million revenue size in the year 2023.

• Its ascendancy is attributed to the high global prevalence of stroke cases and the critical demand for effective rehabilitation solutions. For instance, annually, over 795,000 people in the U.S. suffer a stroke, and about 610,000 of these instances are initial or new strokes, as reported by the Center for Disease Control and Prevention (CDC).
  
• Moreover, stroke stands as a leading cause of long-term disability, and neurorehabilitation devices play a crucial role in aiding recovery and restoring functional abilities.
  
• Devices designed for stroke rehabilitation, including robotic exoskeletons, brain-computer interfaces, and virtual reality systems, provide tailored interventions for motor and cognitive impairments.
  

Thus, the growing emphasis on early and intensive rehabilitation for stroke survivors is anticipated to propel market statistics, as these devices contribute to improved patient outcomes and enhanced quality of life.

Based on end-use, the market unfolds its segmentation, encompassing the domains of hospitals, specialty clinics, and other end users. The hospitals segment garnered USD 894 million revenue size in the year 2023.

• Hospitals serve as primary centers for acute care, and the integration of neurorehabilitation devices within these facilities ensures comprehensive and specialized rehabilitation services for patients with neurological disorders.
  
• The availability of advanced medical infrastructure, skilled healthcare professionals, and the capability to handle a diverse range of neurological cases makes hospitals a central hub for neurorehabilitation interventions.
  
• Additionally, the growing prevalence of neurological disorders, coupled with the increasing awareness of rehabilitation benefits, leads to higher patient admissions to hospitals, thereby accelerating the demand for neurorehabilitation devices.
  
  

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U.S. neurorehabilitation devices market accounted for USD 693 million revenue size in 2023 and is predicted to witness substantial market growth over the analysis timeline.

• The dominance of the U.S. in the neurorehabilitation devices industry is attributed to the country's advanced healthcare infrastructure, a robust research and development landscape, and a high prevalence of neurological disorders.
  
• For instance, in 2022, as per estimates, approximately 90,000 adults are diagnosed with Parkinson's disease in the U.S., annually, marking a significant 50% increase from the previous estimate of 60,000 cases per year.
  
• Thus, as the incidence of neurological disorders rises, there is a growing demand for effective rehabilitation solutions, thereby augmenting market growth in the region.
  
• Furthermore, the region's proactive approach to adopting emerging technologies, coupled with the presence of key industry players and collaborations between academia and the healthcare sector, continues to propel market growth in the region.
  

Neurorehabilitation Devices Market Share

The neurorehabilitation devices industry is consolidated, with key players including Bioventus LLC, Hocoma (DIH Medical), Bionik Laboratories Corp., Ekso Bionics Holdings, Inc, and others dominating the market. These companies focus on ongoing product innovation, geographical expansion, and partnerships to secure substantial position in the market. For instance, in March 2021, Bioventus Inc., a globally recognized leader in active healing solutions, acquired Bioness, Inc., a prominent global player in neuromodulation and rehabilitation medical devices. This strategic acquisition included Bioness's complete product portfolio, encompassing cutting-edge peripheral nerve stimulation ("PNS") therapy and high-quality rehabilitation solutions, along with its active research and development initiatives. This move substantially broadened Bioventus's array of products, leading to increased revenue streams for the company.

Neurorehabilitation Devices Market Companies

Some of the eminent market participants operating in the neurorehabilitation devices industry include:

• Bioventus LLC
• Ectron Ltd.
• Hocoma (DIH Medical)
• BIOMETRICS LTD.
• Bionik Laboratories Corp.
• BioXtreme Ltd.
• Ekso bionics holdings, Inc.
• Kinestica
• Saebo, Inc.
• Abbott Laboratories
• Emotiv Inc.
• BrainCo, Inc
• Permobil AB
• Medtronic Plc
  

Neurorehabilitation Devices Industry News:

• In December 2022, Ekso Bionics acquired the Human Motion and Control (“HMC”) business unit from Parker Hannifin Corporation. The acquired assets encompassed the Indego lower limb exoskeleton line and the ongoing advancement of robotic-assisted orthotic and prosthetic devices. This strategic acquisition not only enhanced the company's product portfolio but also provided a competitive edge.
  
• In April 2021, Permobil acquired Progeo, a prominent Italian manufacturer specializing in manual wheelchairs. This strategic move enhanced Permobil's footprint in the Italian market and simultaneously improved its portfolio of manual wheelchairs across Europe.
  

Neurorehabilitation devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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Market, By Product Type

• Neurorobotics
• Wearable devices
• Brain-computer interface (BCI)
• Non-invasive stimulators
• Other product types

Market, By Application

• Stroke
• Multiple sclerosis (MS)
• Parkinson's disease
• Spinal cord injury
• Traumatic brain injury
• Cerebral palsy
• Other applications

Market, By End-use

• Hospitals
• Specialty clinics
• Other end users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa