Pune, India, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Neurorehabilitation Devices Market Overview:
According to Market Redsearch Future (MRFR), the Neurorehabilitation Devices Market was valued USD 793.0 Million in 2018 and is estimated to cross USD 2,274.1 Million till 2025, with a double digit CAGR of 16.4% in the forecast period.
The neurorehabilitation devices entail the use of technology in the field of physiotherapy as most neurological rehabilitation devices target to enable learning or relearning of motor skills regardless of the cause of impairment.
The increased occurrence of neurological illnesses that impede motor movement or other voluntary actions is estimated to gain traction in the future with overwhelming evidencediscovery of genetic predisposition and environmental stress factors that trigger these conditions.The increased need for neurorehabilitation devices due to these rising number of neurological disorder cases, the emergence of robotic rehabilitation, a surge in the geriatric population, and the effectiveness of the gaming systems in neurorehabilitation are likely to benefit the neurorehabilitation devices market.Stringentsupervisory policies and growingskilled professionals' necessities are anticipated to burden neurorehabilitation devices' market growth during the forecast period.
Neurorehabilitation Devices Demand To Sharply Rise
The market is projected to see profitable growth due to neurological disorder cases such as Parkinson's, epilepsy, multiple sclerosis, Alzheimer's, stroke, and essential tremors being detected increasingly.COVID-induced lockdowns impacted many patients with neurological ailments as they had no access to their therapists and hence could not undertake their sessions, leading to loss of progress. This factor has led researchers at the VTC Smart Rehab Lab toadvancean inexpensive breakthroughtechnology. It approaches to link stroke survivors to physical therapy at home via tele-rehabilitation. The procedure will include a fused knowledge basis of machine learning and human interfacing to evaluate patient performance in training and daily activities at home while simultaneously delivering feedback to the patient and reviewing progress to the remote therapist. This major innovation can be magnified to various therapy needs leading to the lab being bestowed with USD 1.1 million by the National Science Foundation to keep onadvancing its Semi-Automated Rehabilitation At Home (SARAH) project.
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Researchers are also engaged in assessing the efficiency and the suitability of implementing commercial games for neurorehabilitation leading to the wearable devices segment's fastest-growing segment with a 16.8% CAGR in the forecast period. The brain stroke segment is reportedas the primary market share due to many brain stroke occurrences globally. Therehabilitation centers segment arrived at a 52.2% stake since 2018 due to the collectivenumber of rehabilitation centers worldwide. Korea Institute of Science and Technologyannounced that the research team at the Center for Bionics, developed a wireless rehabilitation treatment technology for brain nervous system harmedby a stroke by constructing a wearable, wireless, low-intensity concentratedultrasound brain stimulator. Moreover, to confirm its effectiveness, this brain stimulator was operatedon animal models of stroke. The improved level of funding from private and government sources in the future is projected to provide new avenues for expansion in the future.
Regional Outlook
The Americas neurorehabilitation devices market isestimated to govern the global neurorehabilitation devices market in the assessment period. The critical factors responsible for this region's prime share are established payers, a mounting number of neurological diseaseinstances, a high number of product launches, a mounting geriatric populace, and increased investment in research to develop neurorehabilitation devices. BIONIK Laboratories Corp recently declared that the Center for Neurorestoration and Neurotechnology (CfNN) purchased an additional BIONIK InMotion ARM/HAND interactive therapy system. The center, which takes capital from the U.S. Department of Veterans Affairs, acquired its first unit in 2018 and operated it with Massachusetts General Hospital in Boston.The European region held a sizeable share in the global neurorehabilitation devices market. This can be accredited to the rising frequency of neurological diseases, product sanctions, anddeveloped economies in the European region. The AsiaPacific neurorehabilitation devices market is the fastest-growing due to the geriatric population and many neurological diseases in this region. Myomo, Inc., a wearable medical robotics company that presents augmented functionality for those experiencingneurological disorders and upper limb paralysis, revealed the sanction of a definitive contract with Beijing Ryzur Medical Investment Co., Ltd. to create a joint undertaking to manufacture and sell the Company's current and upcoming products in greater China, counting Hong Kong, Taiwan, and Macau.
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Competitive Analysis:
Ekso Bionics Holdings, Inc., atrailblazer in exoskeleton equipmentfor medical and industrial usage, declared it hadaccepted501(k) go-ahead from the U.S. Food and Drug Administration to promoteits EksoNRTM robotic exoskeleton for individuals with acquired brain injury (ABI). EksoNR is the first exoskeleton device to receive FDA permission for rehabilitation use with ABI, significantly expanding its indication to a broader patientcluster.
The valuable players in the neurorehabilitation devices market are:
- Ekso Bionics Holdings
- ReWalk Robotics Ltd
- Eodyne
- Neuro Rehab V.R.
- Hocoma AG
- Neofect
- Bionik Laboratories Corp.
- Bioness Inc.
- Reha Technology AG
- Rex Bionics Ltd
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The use of alternative therapies is also being leveraged to aid patients' rehabilitation with neurological ailments. For example, Mount Sinai Health System, the principal academic medical system in NYC,and MindMazeannounced an innovative at-home tele-neurorehabilitation program for stroke patients, applying the FDA-cleared CE-marked MindMotion GO. This program expands patient access to MindMotion GO, implemented by the Rehabilitation Innovation team at Mount Sinai in June to make available critical neurorehabilitation throughout the care continuum.With this innovative mobile system for neurorehabilitation therapy from MindMaze, patients can return totheir recovery at home with virtual backing from clinicians at Mount Sinai's Abilities Research Center (ARC).
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