Global Neurorehabilitation Devices Market Insights Forecasts to 2033

• The Global Neurorehabilitation Devices Market Size was Valued at USD 1.9 Billion in 2023
• The Market Size is Growing at a CAGR of 12.55% from 2023 to 2033
• The Worldwide Neurorehabilitation Devices Market Size is Expected to Reach USD 6.2 Billion by 2033
• Asia-Pacific is Expected to Grow the fastest during the forecast period.

The Global Neurorehabilitation Devices Market Size is Anticipated to Exceed USD 6.2 Billion by 2033, Growing at a CAGR of 12.55% from 2023 to 2033.

Market Overview

Neurorehabilitation devices are a subset of medical devices dedicated to aiding individuals with neurological disorders in regaining function and independence and have emerged as key players in the journey toward recovery. The noninvasive brain stimulation devices that provide repetitive transcranial magnetic stimulation or transcranial direct current stimulation, which can re-modulate an injured brain. Functional electrical stimulation (FES) devices, brain-computer interfaces (BCIs), exoskeletons, virtual reality (VR) and augmented reality (AR) systems, and neurostimulation devices are the various neurorehabilitation devices. These devices can help to reorganize brain activity and achieve improved brain activation, thus facilitating the recovery of a flaccid limb. Technologies such as robotics, virtual reality, and telerehabilitation are suitable add-ons or complement to physical therapy. For stroke therapy, the right use of these tools and technology depends on the stages and deficiencies specific to the target. The field of robotic device development for rehabilitation is expanding at a fast rate. The novel technologies that have improved robots’ capabilities and offered more cost-effective solutions, robotic devices are increasingly being employed during clinical practice, to boost patients’ recovery. The integration of artificial intelligence and machine learning can lead to more adaptive and responsive therapies. Furthermore, the use of BCI in stroke neurological rehabilitation is a new attempt in modern rehabilitation.

Report Coverage

This research report categorizes the market for the global neurorehabilitation devices market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global neurorehabilitation devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global neurorehabilitation devices market.

Driving Factors

As per reports by the National Library of Medicine in 2023, around 15% of the global population presently faces neurological illnesses. The high prevalence of neurological disorders like Parkinson’s disease (PD), Multiple sclerosis, and stroke, among other disorders are driving the market demand for neurorehabilitation devices. The growing geriatric population is also responsible for propelling the market growth. The technological development in neurorehabilitation is significantly driving market growth. The increasing investments in R&D activities in neurological rehabilitation are promoting market growth.

Restraining Factors

The lack of skilled personnel to handle the devices is hampering the market. Further, the high cost of neurorehabilitation devices restrain the market, particularly in emerging economies and low-income regions like Latin America, Africa, and the Middle East.

Market Segmentation

The global neurorehabilitation devices market share is classified into product and therapy area.

• The neurorobotics accounted for the largest revenue share of the global neurorehabilitation devices market in 2023.

Based on the product, the global neurorehabilitation devices market is categorized into neurorobotics, brain-computer interface, wearable devices, non-invasive stimulators, and others. Among these, the neurorobotics accounted for the largest revenue share of the global neurorehabilitation devices market in 2023. Neurorobotic systems is a novel approach to treating neurological illnesses that combines neuroscience, rehabilitation, and robotics. The increasing prevalence of neurological disorders and the introduction of novel products in neurorobotics in rehabilitation therapy is upsurging the market growth in the neurorobotics segment.

• The stroke therapy segment dominated the market with the largest revenue share in 2023.

Based on the therapy area, the global neurorehabilitation devices market is categorized into stroke, parkinson’s disease, multiple sclerosis, cerebral plasy, and others. Among these, the stroke therapy segment dominated the market with the largest revenue share in 2023. Stroke rehabilitation therapy helps to relearn skills lost after a brain stroke. About 650,000 persons survive a new stroke yearly and 7 million Americans live with the complications of stroke. The increasing adoption and utilization of rehabilitation for stroke propelling the market growth.  

Regional Segment Analysis of the Global Neurorehabilitation Devices Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global neurorehabilitation devices market over the predicted timeframe.

North America is projected to hold the largest share of the global neurorehabilitation devices market over the forecast period. The increasing aging population particularly in the U.S. and Canada is responsible for enhancing the market demand for neurorehabilitation devices as these age group populations are more prone to cause neurological disorders. In addition, the growing awareness and improvement in healthcare infrastructure in the region are also driving the market.

Asia-Pacific is expected to grow at the fastest CAGR growth of the global neurorehabilitation devices market during the forecast period. The growing aging population, as well as increased lifestyle stress, and rising incidence of hypertension, are the factors significantly driving the market. Further, the improvement in the quality of diagnosis, and increasing patient affordability are also driving the market. The lucrative growth opportunities in developing countries are likely to contribute to regional market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global neurorehabilitation devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Bionik Laboratories Corp. (BNKL)
• Abbott Laboratories
• Ectron
• Hocoma (DIH International Ltd.)
• Bioventus
• Biometrics Ltd.
• Medtronic
• Tyromotion Inc.
• BioXtreme Ltd.
• Ekso Bionics
• REHABTRONICS INC
• Kinestica
• Kinova Inc.
• Saebo, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2023, Rewalk Robotics Ltd. took strides to expand its portfolio—and achieve profitability—with an agreement to acquire Alterg Inc., a provider of anti-gravity systems for use in physical and neurological rehabilitation.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global neurorehabilitation devices market based on the below-mentioned segments: 

Neurorehabilitation Devices Market, By Product

• Neurorobotics
• Brain-Computer Interface
• Wearable Devices
• Non-Invasive Stimulators
• Others

Global Neurorehabilitation Devices Market, By Therapy Area

• Stroke
• Parkinson’s Disease
• Multiple Sclerosis
• Cerebral Plasy
• Others

Global Neurorehabilitation devices Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa