| A10461 | Pages: 181 | Nov 2021 | 1941 Views | ||
| Author(s) : Shilpi Chowdhury, Monika Darandale , Onkar Sumant | Tables: 129 | Charts: 23 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Neurorehabilitation Market
Request Now !The global neurorehabilitation market size was valued at $ 1,097.69 million in 2020 and is projected to reach $ 2,451.25 million by 2030 registering a CAGR of 8.3% from 2021 to 2030. Neurorehabilitation is a complex medical process, which aims to aid recovery from a nervous system injury, and to minimize and/or compensate for any functional alterations resulting from it. Neurorehabilitation devices facilitate to reduce symptoms and improve neurological related function. This device is most commonly used for physiotherapy and to improve patient quality life.
Growth in prevalence of neurological disorders such as brain stroke, Parkinson's disease, multiple sclerosis, cerebral palsy, traumatic brain injury, spinal cord injury, and rise in awareness about neurorehabilitation devices among population are some factors which drive growth of the neurorehabilitation market. In addition, increase in funding for R&D, and rise in product approvals of neurorehabilitation devices by regulatory authorities further boost growth of the neurorehabilitation market. However, high cost of neurorehabilitation devices and lack of skilled professionals are some key factors that hamper growth of the market. On the contrary, increase in demand for telerehabilitation creates an opportunity for manufacturers to tap and capitalize on the market.
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The outbreak of COVID-19 has disrupted workflows in the health care sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. In several countries, neurorehabilitation units have had to reduce their bed numbers to allow doctors and nurses to work in intensive care units or in dedicated wards to isolate and take care of patients with COVID-19 infection. Home and outpatient rehabilitation services are restricted to selected cases, for protection of both patients and caregivers. Similarly, in-patient neurorehabilitation has been limited to patients with severe post-acute disabilities, and those suffering from chronic degenerative diseases such as movement disorders or multiple sclerosis are postponed for long time.
Despite small reduction in the number of strokes and other acquired brain injuries attended at emergency departments and acute care hospitals, explained by fear of contracting the virus at hospital, the prevalence of these neurological diseases has not drastically changed over time. However, incidences of these neurological disorders and the demand for neurorehabilitation therapy has increased. Therefore, specialized neurorehabilitation units need to adapt their facilities and resources to enable better management both for patients with SARS-CoV-2 infection and usual patients. These tools, which include telemedicine for consultations and follow-up (teleconsultations), subsequent outpatient rehabilitation therapy, and use of specific software (telerehabilitation), also enable adequate communication with families of hospitalized patients while observing safety measures and avoiding unnecessary visits.
The global neurorehabilitation market is segmented on the basis of type, application, end user, and region. By type, it is segmented into neuro-robotic devices, non-invasive stimulators, and brain-computer interfaces. By application, it is segmented into brain stroke, Parkinson's disease, multiple sclerosis, spinal cord injury, traumatic brain injury, cerebral palsy, and others. By end user, it is categorized into rehabilitation centers, hospitals, and clinics. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, the neurorehabilitation market is segmented into neuro-robotic devices, non-invasive stimulators, and brain-computer interfaces. The non-invasive stimulators segment dominated the global market in 2020 and is expected to remain dominant throughout the forecast period, owing to factors such as increasing technological advancements in non-invasive stimulators and rising demand of the non-invasive methods for neurorehabilitation.
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Based on application, it is segmented into brain stroke, Parkinson's disease, multiple sclerosis, spinal cord injury, traumatic brain injury, cerebral palsy, and others. The brain stroke segment dominated the global neurorehabilitation market in 2020 and is anticipated to continue this trend during the forecast period. This is attributed to the constantly rising prevalence of stroke globally.
Based on end user, it is classified into rehabilitation centers, hospitals, and clinics. The hospitals held the largest neurorehabilitation market share in 2020 and is expected to remain dominant throughout the forecast period owing to, increasing demand of neurorehabilitation in hospitals.
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Asia-Pacific offers profitable opportunities for key players operating in the neurorehabilitation market, hence is expected to register the fastest growth rate during the forecast period, owing to growth in healthcare infrastructure, rising disposable income, and companies are taking up strategic initiatives to expand their operations in the region. In addition, Asia-Pacific is projected to be the fastest-growing region in the global market attributed to rise in prevalence of neurological diseases, increase in demand for neurorehabilitation devices and growing number of geriatric population.
The key market players profiled in the report include, Bionik Laboratories Corp., BioScience Managers Ltd (Rex Bionics Ltd), Bioventus (Bioness Inc.), DIH (Hocoma AG), Ekso Bionics Holdings, Inc., Eodyne, Neofect, Neuro Rehab VR, Reha Technology AG, ReWalk Robotics Ltd.
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Key Benefits For Stakeholders
Key Market Segments
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This section provides opinions of top level CXOs in neurorehabilitation devices. According to CXOs, neurorehabilitation is a well-elaborated therapist-supervised medical procedure, which aims at recovering from dysfunctional movements of body, owing to neurological diseases to functional nervous system, functional body movements, and improving well-being of a person. There are various type of neurorehabilitation devices such as neurorobotic devices, non-invasive stimulators, brain computer interfaces. A neurorehabilitation program is decided as per the current condition of the patient, this program requires skilled neurorehabilitation consultant, neurosurgeon, physiotherapist, dietician, and nurses. Neurorehabilitation therapy is offered to patients of stroke, Parkinson’s disease, spinal cord injury, traumatic brain injury, cerebral palsy, multiple sclerosis and many more.
As per CXOs, increase in prevalence of neurological diseases, increase in funding for R&D, and rise in product approvals by regulatory authorities are some factors that boost growth of the market. Furthermore, rise in demand of telerehabilitation is expected to create a lucrative opportunities for the market growth. However, high cost of devices is expected to hinder growth of the market.
A. The total market value of Neurorehabilitation market is $1,097.7 million in 2020.
A. The forcast period for Neurorehabilitation market is 2021 to 2030
A. The market value of Neurorehabilitation market in 2021 is $2,451.2 million.
A. The base year is 2020 in Neurorehabilitation market
A. Top companies such as Bionik Laboratories Corp., BioScience Managers Ltd (Rex Bionics Ltd), Bioventus (Bioness Inc.), DIH (Hocoma AG), Ekso Bionics Holdings, Inc., Eodyne, Neofect, Neuro Rehab VR, Reha Technology AG, ReWalk Robotics Ltd held a high market position in 2020.
A. Based on type, the non-invasive stimulators segment accounted for the largest share of the Neurorehabilitationmarket in 2020. The large share of this segment can be attributed to the increasing technological advancements in non-invasive stimulators and rising demand of the non-invasive methods for neurorehabilitation.
A. Growth in prevalence of neurological disorders such as brain stroke, Parkinson's disease, multiple sclerosis, cerebral palsy, traumatic brain injury, spinal cord injury, and rise in awareness about neurorehabilitation devices among population are some factors which drive growth of the neurorehabilitation market. In addition, increase in funding for R&D, and rise in product approvals of neurorehabilitation devices by regulatory authorities further boost growth of the neurorehabilitation market.
A. North America is projected to account for a major share of 44.2% the global Neurorehabilitation market during the forecast period. The market in the region is anticipated to grow in the future, owing to rising R&D activities in the U.S., large patient population of neurological diseases. And rising number of product approvals are propelling market growth in North America.
A. Neurorehabilitation is a medically-assissted program for patients with diseases, injury, or disorders of the nervous system. The term refers to neurological rehabilitation for patients suffering from mobility problems due to neurological disorders.
A. The Neurorehabilitation market products are used for the treatment of the patients with locomotory problems due to neurological diseases such as brain stroke, Parkinson's disease, traumatic brain injury, cerebral palsy, multiple sclerosis and many more.
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