Neurorehabilitation Devices Market

Neurorehabilitation Devices Market Analysis by Neurorobotic Systems, Brain Computer Interfaces, Wearable Devices, and Brain Stimulators from 2023 to 2033

Analysis of Neurorehabilitation Devices Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Neurorehabilitation Devices Market Outlook (2023 to 2033)

The global neurorehabilitation devices market size is valued at US$ 1.48 billion in 2023 and is forecasted to surge to a size of US$ 5.4 billion by 2033-end. Worldwide neurorehabilitation system sales are projected to rise at an astronomical 13.8% CAGR over the next ten years.

Neurorehabilitation devices are products that help people suffering from neurological disorders improve their quality of life by treating impairments. The rapidly surging geriatric population on a global level is also projected to be a key contributor to neurorehabilitation equipment shipments across the forecast period as older people are more at risk of suffering from neurological disorders.

Growing use of wearable medical devices, increasing demand for novel rehab therapies, surging prevalence of rare neurological disorders, and integration of advanced digital technologies to improve neurorehabilitation efficiency are other prospects that could bolster sales of neurorehabilitation devices in the long run.

The launch of initiatives to advance research and development of new neurorehabilitation by governments and other institutions is also projected to result in the frequent launch of novel rehab therapies and innovative neurorehabilitation systems going forward.

  • In May 2023, the University of Calgary in collaboration with Alberta Health Services announced the launch of the RESTORE (Researching Strategies for Rehabilitation) Network to test novel therapies and conduct clinical trials to improve the quality of life of people with neurological disorders.

On the flip side, the high costs of neurorehabilitation devices and the dearth of skilled technicians and professionals to operate them are anticipated to influentially impede market development over the next ten years. Advancements in rehabilitation technologies and robotics are also opening up new frontiers of opportunities for neurorehabilitation device manufacturers.

Report Attributes Details

Neurorehabilitation Devices Market Size (2023)

US$ 1.48 Billion

Projected Market Value (2033F)

US$ 5.4 Billion

Global Market Growth Rate (2023 to 2033)

13.8% CAGR

Market Share of Brain Computer Interfaces (2023)

25%

Demand Growth for Neurorobotic Systems (2023 to 2033)

15% CAGR

Key Companies Profiled

  • Neofect
  • Boston Scientific Corporation
  • AlterG Inc.
  • Eodyne
  • Medtronic plc
  • Biometrics Ltd.
  • Bioness Inc.
  • Kinestica
  • Hocoma AG
  • BIONIK Laboratories Corp.
  • Ekso Bionics Holdings Inc.
  • Abbott Laboratories

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What are Neurorehabilitation Device Start-ups Centering Their Efforts Around?

“Capital Raise to Fund Product Innovation – Key Strategy”

New neurorehabilitation device suppliers are extensively focusing on raising new financing to fund their business expansion and R&D efforts. Integration of VR and other digital technologies in rehabilitation programs is also projected to be a key factor that most start-ups are estimated to focus on across the forecast period and beyond.

  • In March 2023, SiYi Intelligence, an intelligent rehabilitation solution provider based in China, announced that it had raised US$ 15 billion in a Series A funding round led by Chengdu Bio-town Equity Investment Fund and participation from Tao Capital. The company had plans to utilize the capital to accelerate the R&D of integration of solutions for neurorehabilitation and build a new digital rehabilitation service platform.
  • In August 2022, Neurofenix, a health technology start-up based in the United Kingdom, announced that it had raised US$ 7.81 billion to start its clinical trials in the United States and build its product line. The start-up provides at-home therapy to improve rehabilitation care for neurological patients.
  • In October 2021, MindMaze, a global leader in brain technology, announced that it had raised US$ 125 billion to develop a video-game platform for neurorehabilitation. The company had plans to expand its business and offerings to new markets around the world as most of its offerings were widely available in the United States and European countries at the time.
  • In August 2020, Neuromersiv, a medical technology company focusing on the use of virtual reality for neurorehabilitation, announced that it had raised US$ 1 billion through a grant offered by Biomedtech Horizons Fund (BMTH). The company had plans of combining VR with its proprietary hand and arm wearable technology to use a novel approach to rehabilitation.

Start-ups can benefit by learning more about aspects such as local supply, pricing trends, product standards, safety regulations, and new developments that have been discussed extensively in this neurorehabilitation devices industry study by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

 

Country-wise Insights

What is the United States Neurorehabilitation Devices Market Scenario?

“High Incidence of Ischemic Strokes – Prime Growth Initiator”

The U.S. Neurorehabilitation devices market is driven by surging incidence of ischemic strokes, rising adoption of neurorehabilitation devices by hospitals, increasing efforts for the development of neurorehabilitation devices for neurocritical care, and a surge in demand for quick and secure products.

Key companies are increasingly projected to develop neurorehabilitation programs due to more awareness and a rise in acceptance, which is expected to fuel the market expansion in the United States over the forecast period.

Where Should Neurorehabilitation Device Vendors Invest in APAC?

“China, India, Japan – Potentially Beneficial Markets for Neurorehabilitation Device Suppliers”

Rapidly expanding senescent population and growing incidence of neurological illnesses are predicted to be the prime prospects driving sales of neurorehabilitation devices in Asian countries of China, India, and Japan going forward. Growing demand for high-end neurointerventional devices, rising focus on health and fitness, increasing investments in medical R&D, and rising patient awareness regarding neurological disorders are other factors that could potentially augment neurorehabilitation device shipments in Asian countries over the coming years.

Growing awareness among healthcare professionals about rehabilitation therapies is also a factor that could potentially bolster the global neurorehabilitation devices market growth in the future. Furthermore, the establishment of new neurorehabilitation centers in these countries could also result in high neurorehabilitation device sales through 2033.

  • In March 2023, Lupin, a leading Indian pharmaceutical giant, announced the launch of a new multi-disciplinary neurorehabilitation center in Mumbai, India. The center is regarded as one of the most advanced of its types in the country as it features robotic and computer-assisted approaches and devices to neurorehabilitation.

Which Country Leads Neurorehabilitation System Demand in Europe?

“United Kingdom to Emerge as Highly Opportune Market in Europe”

Incidence of neurological disorders in the United Kingdom has been increasing at a notable pace in recent years and the same trend is estimated to be followed throughout the forecast period. Growing awareness regarding neurorehabilitation and the increasing availability of novel neurorehabilitation machines in the country are also forecasted to favor market growth over the next ten years.

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Category-wise Insights

Why is the Popularity of Neurorobotic Systems Rising Rapidly?

“Growing Usage of Neurorobotic Systems for Restoring Movement in Patients with Neurological Illnesses”

Based on product, the market is classified into neurorobotic systems, brain computer interface, wearable devices, and brain stimulators. Neurorobotic systems account for more than 45% share of the global neurorehabilitation devices market at present.

The term "neurorobotic systems" refers to a novel approach to treating neurological illnesses that combines neuroscience, rehabilitation, and robotics; the method employed for therapy frequently relies on the precise function that needs to be restored.

With growing uses for restoring movement in patients with spine and neurological illnesses, brain trauma, spinal cord injuries, intellectual disabilities, and other disorders, robotic therapy is currently gaining prominence.

Which Application Holds a Dominant Stance in the Market?

“Rising Need of Stroke Rehabilitation to Enhance Patient's Quality of Life”

The neurorehabilitation devices market is segmented into stroke, Parkinson’s disease, brain & spinal cord injury, cerebral palsy, multiple sclerosis, and others based on the application.

Brain cells eventually die due to the cut off of blood and nutrient supply to the brain during a stroke. A geriatric population and people having poor lifestyles habits such as bad eating, no physical exercise, and sedentary work lives are majorly at risk of experiencing a stroke.

Movement disability, sensory impairment, cognitive deficits, and vision problems are just a few of the possible effects of a stroke. Movement impairment is the most frequently associated deficit with a stroke. In the majority of cases, a patient's body is only afflicted on one side, which results in physical impairment or partial paralysis.

The neurorehabilitation procedure aids in enhancing patients' quality of life while assisting them in treating their impairments. The demand for neurorehabilitation robotic devices has increased due to the hike in the incidence of stroke around the world.

Competitive Landscape

Leading neurorehabilitation device manufacturers are also opting for acquisitions, collaborations, and mergers to hasten product launches and bolster their presence in the global industry landscape.

  • In September 2022, Sumitomo Pharma Co. Ltd. and MELTIN MMI announced that they have agreed to the launch and marketing of the MELTz® Hand Rehabilitation System. The product has been jointly developed by the aforementioned companies but MELTIN obtained the device certification as a distributor and manufacturer.
  • In 2022, to enhance the creation of technologically advanced brain-computer interface solutions, Blackrock Neurotech acquired MindX. By combining its hardware DNA with MindX's software DNA, Blackrock aimed to improve its neural data analysis and offer flexibility and modification for numerous BCI applications.

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Key Segments of Neurorehabilitation Devices Industry Research

  • By Product :

    • Neurorobotic Systems
    • Brain Computer Interface
    • Wearable Devices
    • Brain Stimulators
  • By Application :

    • Stroke
    • Parkinson’s Disease
    • Brain & Spinal Cord Injury
    • Cerebral Palsy
    • Multiple Sclerosis
    • Others
  • By End User :

    • Rehabilitation Centers
    • Hospitals & Clinics
    • Home Care
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

What is the value of the neurorehabilitation devices market in 2023?

The global neurorehabilitation devices market accounts for a valuation of US$ 1.48 billion in 2023.

What is the projected market size and growth rate for the neurorehabilitation devices market?

Neurorehabilitation device sales are set to rise at a stellar 13.8% CAGR and reach US$ 5.4 billion by 2033-end.

Which segments are covered in the neurorehabilitation devices market report?

Product, application, end user, and region are key segments detailed in this Fact.MR research survey.

Which region enjoys a leading share in the neurorehabilitation devices market?

North America accounts for a prominent share of the global market.

Who are the key neurorehabilitation device companies in the industry?

Boston Scientific Corporation, AlterG Inc., Eodyne, Medtronic plc, Biometrics Ltd., and Bioness Inc. are leading companies manufacturing neurorehabilitation devices.

Neurorehabilitation Devices Market

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