Neurorehabilitation Devices Market Is Expected To Get Us $4 Billion By 2025
Added: (Tue Nov 14 2017)
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A research study titled, Neurorehabilitation Devices Market by Product and Application - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the Neurorehabilitation devices market is projected to be around $4 billion by 2025.
An injury to the central nervous system or the brain can significantly affect a person’s ability to perform a variety of day to day tasks or activities. Neurorehabilitation helps improve the patient’s ability to function independently after he is diagnosed with conditions such as stroke, multiple sclerosis, brain tumor, Parkinson’s disease, epilepsy and traumatic brain injury among other neurological disorders. Neurorehabilitation is a multi-modal, multi-disciplinary approach to help such patients to improve their physiological functioning.
Neurorehabilitation can be broadly classified into three coordinated phases, viz. intermediate care, acute rehabilitation and occupational rehabilitation. Patients undergoing neurorehabilitation usually go through more than one of these phases. Acquired brain injuries severely affect the neurological functioning of patients especially in early stage. Such effects could range from dysphagia, in which patients have difficulty in swallowing, impaired consciousness to immobility (paralysis). In Intermediate care, the focus is on restoring and improving the basic bodily functions. This involves, ensuring that the patient can ingest food and breath, stabilizing the circulation, preventing muscle stiffness and self-injury, and prevent the distressing effects of anxiety and restlessness. In acute rehabilitation, along with improving patients’ mental and physical capabilities, the therapy is focused towards enabling patients to gain independence in their daily life to perform their everyday activities. Once these patients are able to cope with everyday activities, the next challenge is to return to work. Occupational rehabilitation programmes can be designed to improve patients’ stamina and physical condition. Such activities can ensure that the patient can perform his routine tasks with the required level of physical fitness and stamina.
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Some of the key drivers for the growth of neurorehabilitation devices market are, increasing prevalence of neurological diseases such as cerebral palsy, stroke, multiple sclerosis, brain injuries and other such disorders. According to the Parkinson’s Disease Foundation, nearly 60,000 Americans are diagnosed with Parkinson’s disease every year excluding thousands of cases that go undetected. Such high prevalence of these neurological disorders will largely contribute to the demand for neurological rehabilitation devices over the coming years. However, the high cost of neurological rehabilitation treatments and a dearth of skilled professionals to operate sophisticated rehabilitation devices can hinder the growth of the neurorehabilitation devices market.
Neurorobotics segment occupied the largest share of the global neurorehabilitation devices market in 2016 owing to advancements in robotics technology and its combination with neuroscience leading to the emergence of next-generation rehabilitation techniques such as exoskeletons. As these devices largely assist patients in enhancing their motor functions and independently perform daily routine activities, the segment will witness favorable growth during the forecast period. Based on the applications of neurorehabilitation, stroke segment held a major market share in 2016 due to increasing incidence of stroke worldwide which leads to physical disability among the patients.
U.S. accounted for the major share of North America neurorehabilitation devices market in 2016 owing to the presence of highly advanced healthcare infrastructure along with high disposable income of the people in the country. Emerging countries such as India and China in the Asia-Pacific region will witness robust growth with respect to neurorehabilitation devices market as the awareness related to neurological disorders and their rehabilitation is on the rise in these regions leading to increasing adoption of neurorehabilitation devices.
The major players in the neurorehabilitation devices market focus on product development to secure a larger share of the market. With development of technologically advanced products, these players facilitate further acceleration of the market growth. Some of the key players in the neurorehabilitation devices market are, Saebo, Inc., Kinova Robotics, Kinestica, Bionik Laboratories Corp, Ekso Bionics Holdings, Inc., Biometrics Ltd, AlterG, Inc., Medtronic plc, Tyromotion GmbH, St. Jude Medical, Inc. (Acquired by Abbott Laboratories Inc.), Hocoma AG and Bioness Inc.
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Key Findings of the Research Study:
• Neurorobotics segment accounted for the largest share of the neurorehabilitation devices market in 2016 owing to advancements in the fields of prosthetics and exoskeletons allowing patients affected by severe neurological conditions to improve their motor functions.
• Non-invasive stimulators segment is projected to register fastest growth over the forecast period as such therapies enable alleviation of physical symptoms of disorders such as Parkinson’s disease and improve the quality of life of the patients.
• North America accounted for a little over two-fifth share of the global neurorehabilitation devices market in 2016 owing to the extensive presence of target population, increasing aging population in the region and availability of robust healthcare infrastructure.
• Asia-Pacific neurorehabilitation devices market is expected to grow with double-digit growth rate during the forecast period due to the prevalence of highly unmet medical needs in the region and increasing awareness regarding neurorehabilitation supported by increasing disposable income.
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About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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