Advancements in non-invasive brain machine interfaces for stroke patients generating massive revenue stream
Companies integrating robotics in neurorehabilitation to capture substantive revenue gains in neurorehabilitation devices market
Advancements in methods notably FES (functional electrical stimulation) have driven new opportunities in disabling brain disorders particularly in stroke and traumatic brain injury. Gamification are increasingly underpinning advances in neurorehabilitation especially for promoting neuro-motor recovery. A case in point is use of virtual reality (VR) in gamification. The valuation of the neurorehabilitation devices market is projected to reach US$ 3.2 Bn by 2027.
Virtual reality technology and robotic neurorehabilitation have opened a promising avenue for the target population. A number of endpoint robots for the upper extremity rehabilitation have been commercialized, and thus have augmented the revenue sales in the neurorehabilitation devices market.
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Extensive research on neural interfaces and multimodal rehabilitative approaches are expected to pave the way to new revenue streams in the neurorehabilitation devices market. Companies are collaborating with neuroscientists to test new strategies in neurorehabilitation, concurs the TMR study.
Key Findings of Neurorehabilitation Devices Market Study
- Brain & Spinal Cord Injury Application to Witness Colossal Growth Opportunities: Numerous non-invasive brain stimulation techniques have proved to be useful in stroke rehabilitation. The uptake of neurological devices notably those based on new multi-electrode stimulation has bolstered the revenue growth, finds the TMR study on the neurorehabilitation devices market. New leaning approaches have opened up vast promise for patients recovering for spinal cord injuries, especially by facilitating recovery of voluntary limb movements.
- Demand for Robotic Neurorehabilitation Devices to Open Value-grab Opportunities: Companies in the neurorehabilitation devices market are leaning on to improve training modalities in robotic devices. Robots are gathering traction among patients in post-stroke rehabilitation. The high applicability to rehabilitation notably in patients with chronic stroke is expected to extend the revenue potential. Non-invasive brain machine interfaces and innovative computational motor learning technique integrated with robots are expanding the options for a range of motor impairment, thus offering massive revenue gains to players in the neurorehabilitation devices market. A number of exoskeletal systems are being adopted for speeding up limb recovery.
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Neurorehabilitation Devices Market: Key Drivers
- The need for non-invasive interventions for rehabilitate motor and cognitive recovery for a wide spectrum of patients is a key driver of the neurorehabilitation market. A rapidly aging population (people aged 65 and above) has propelled technological strides in neurorehabilitation.
- The global burden of neurological disorders and injuries has spurred R&D in therapeutic approaches for neurorehabilitation. Cerebral-vascular diseases such as stroke have a high DALY (disability-adjusted life years) burden worldwide.
Neurorehabilitation Devices Market: Regional Growth Dynamics
Players are leveraging the synergies of in-licensing and collaboration agreements to unveil innovative products in North America and Europe, assert the analysts scrutinizing lucrative market avenues in the TMR report. The opportunities in the neurorobotic systems and brain stimulators are anticipated to rise rapidly in the next few years, assert the TMR study on the neurorehabilitation devices market.
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North America held a major share of the global neurorehabilitation devices market in 2018. The revenue growth was propelled by the prevalence of various neurological disorders and widespread demand for the products in traumatic brain injuries. The U.S. is projected to contribute sizable revenue shares of the North America neurorehabilitation devices market during the forecast period (2019–2027). The TMR study estimates the U.S. market to advance at a CAGR of approximately 13% during the period. The adoption of safe neurorehabilitation products is propelling the growth of the market.
Aside from these, the Middle East, Africa, and Latin America are expected to be provide new avenues for companies in the neurorehabilitation devices market during the forecast period.
Neurorehabilitation Devices Market: Key Players
Some of the key players in the market are DIH Technologies Corporation, Medtronic plc, Reha Technology AG, Boston Scientific Corporation, Tyromotion GmbH, ReWalk Robotics, Neuro Device Group S.A., Saebo, Inc., Neurostyle Pte Ltd, DIH Technologies Corporation, Ekso Bionics, and Bionik Laboratories Corp.
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Neurorehabilitation Devices Market, by Product
- Neurorobotic Systems
- Wearable Devices
- Brain-computer Interface
- Brain Stimulators
- Non-invasive Stimulators
- Invasive Stimulators
Neurorehabilitation Devices Market, by Application
- Stroke
- Parkinson’s Disease
- Multiple Sclerosis
- Cerebral Palsy
- Brain & Spinal Cord Injury
- Others
Neurorehabilitation Devices Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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