Pune, India, Jan. 26, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global neurorehabilitation devices market was valued at USD 1198.2 million in 2020 and is expected to grow at 12.5 CAGR over the next six years, reaching a valuation of USD 2725.4 million during the period 2021-2027.
The industry is categorized based on type and application, divulging information on growth rate and the market share held by each vertical and their growth trajectory over 2021-2027. It encompasses the details on the CAGR at which each regional market is progressing to give an accurate analysis of the overall landscape.
The document lists the companies playing a key role in enhancing the attractiveness of the industry and also provides data on the models and strategies adopted by them to gain a competitive advantage. The study incorporates historical data from 2016-2020 and gives a forecast for the period 2021-2027 with the help of expert opinions.
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Tremendous technological advancements, coupled with the rising prevalence of neurological disorders in the geriatric population are factors propelling the growth of market.
For those unaware, neurorehabilitation devices help in improving the functioning and overall well-being of people suffering from nervous system disorders by reducing the symptoms and structural defects impairing the system.
However, dearth of personalized home care, insufficient disposable income of the people particularly in emerging economies, and complexity in using such devices are likely to hinder the industry development in the forthcoming years.
Segmental Analysis:
Based on type, the market is categorized into brain computer interface, neurorobotic system, non-invasive stimulators, implantable neurorehabilitation system, and others. In terms of application spectrum, worldwide neurorehabilitation devices industry is divided into clinics, hospitals, and others.
Regional Analysis:
As per analysts, North America is poised to dominate the business landscape with a market share of nearly 40% during the analysis period, followed by Europe.
Competitive Landscape:
Prominent players in global neurorehabilitation devices marketplace are Helius Medical Technologies, Medtronic plc, Bionik Laboratories, Abbott Laboratories, Neuroelectrics, Boston Scientific Corporation, Soterix Medical, Bioness Inc., and Ekso Bionics Holdings Inc. among others. Of these, Medtronic plc is anticipated to hold a major revenue share of 30% during the assessment timeframe.
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Global Neurorehabilitation Devices Market, By Type (Revenue, USD Million, 2016-2027)
- Brain Computer Interface
- Neurorobotic System
- Non-invasive Stimulators
- Implantable Neurorehabilitation System
- Other
Global Neurorehabilitation Devices Market, By Application (Revenue, USD Million, 2016-2027)
- Clinics
- Hospitals
- Other
Global Neurorehabilitation Devices Market, Regional Analysis (Revenue, USD Million, 2016-2027)
North America
- Canada
- U.S.
Europe
- France
- Germany
- Italy
- Russia
- U.K.
- Nordic
- Rest of Europe
Asia-Pacific
- India
- Japan
- Australia
- South Korea
- China
- Southeast Asia
- Rest of Asia
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- Turkey
- UAE
- Saudi Arabia
- Rest of MEA
Global Neurorehabilitation Devices Market, Competitive Landscape (Revenue, USD Million, 2016-2027)
- Helius Medical Technologies
- Medtronic plc
- Bionik Laboratories
- Abbott Laboratories
- Neuroelectrics
- Boston Scientific Corporation
- Soterix Medical
- Bioness Inc.
- Tyromotion GmbH
- Hocoma AG
- MagVenture A/S
- Neuronetics Inc.
- AlterG Inc.
- Linyi Yiruide Wood Co., Ltd.
- Hocoma AG
- Magstim Company Limited
- Nanjing Vishee Medical Technology Co., Ltd.
- Bioness Inc.
- Ekso Bionics Holdings Inc.
Table of Content:
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Neurorehabilitation Devices Market Size Growth Rate by Type: 2016 VS 2021 VS 2027
1.2.2 Implantable Neurorehabilitation System
1.2.3 Neurorobotic System
1.2.4 Brain Computer Interface
1.2.5 Non-invasive Stimulators
1.2.6 Other
1.3 Market by Application
1.3.1 Global Neurorehabilitation Devices Market Share by Application: 2016 VS 2021 VS 2027
1.3.2 Hospitals
1.3.3 Clinics
1.3.4 Other
1.4 Study Objectives
1.5 Years Considered
2 Global Growth Trends
2.1 Global Neurorehabilitation Devices Market Perspective (2016-2027)
2.2 Neurorehabilitation Devices Growth Trends by Regions
2.2.1 Neurorehabilitation Devices Market Size by Regions: 2016 VS 2021 VS 2027
2.2.2 Neurorehabilitation Devices Historic Market Share by Regions (2016-2021)
2.2.3 Neurorehabilitation Devices Forecasted Market Size by Regions (2022-2027)
2.3 Neurorehabilitation Devices Industry Dynamic
2.3.4 Neurorehabilitation Devices Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Neurorehabilitation Devices Players by Revenue
3.1.1 Global Top Neurorehabilitation Devices Players by Revenue (2016-2021)
3.1.2 Global Neurorehabilitation Devices Revenue Market Share by Players (2016-2021)
3.2 Global Neurorehabilitation Devices Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.3 Players Covered: Ranking by Neurorehabilitation Devices Revenue
3.4 Global Neurorehabilitation Devices Market Concentration Ratio
4 Neurorehabilitation Devices Breakdown Data by Type
4.1 Global Neurorehabilitation Devices Historic Market Size by Type (2016-2021)
4.2 Global Neurorehabilitation Devices Forecasted Market Size by Type (2022-2027)
5 Neurorehabilitation Devices Breakdown Data by Application
5.1 Global Neurorehabilitation Devices Historic Market Size by Application (2016-2021)
5.2 Global Neurorehabilitation Devices Forecasted Market Size by Application (2022-2027)
6 North America
6.1 North America Neurorehabilitation Devices Market Size (2016-2027)
6.2 North America Neurorehabilitation Devices Market Size by Type
6.2.1 North America Neurorehabilitation Devices Market Size by Type (2016-2021)
6.2.2 North America Neurorehabilitation Devices Market Size by Type (2022-2027)
6.2.3 North America Neurorehabilitation Devices Market Size by Type (2016-2027)
6.3 North America Neurorehabilitation Devices Market Size by Application
7 Europe
7.1 Europe Neurorehabilitation Devices Market Size (2016-2027)
7.2 Europe Neurorehabilitation Devices Market Size by Type
7.3 Europe Neurorehabilitation Devices Market Size by Application
8 Asia-Pacific
8.1 Asia-Pacific Neurorehabilitation Devices Market Size (2016-2027)
8.2 Asia-Pacific Neurorehabilitation Devices Market Size by Type
8.3 Asia-Pacific Neurorehabilitation Devices Market Size by Application
9 Latin America
9.1 Latin America Neurorehabilitation Devices Market Size (2016-2027)
9.2 Latin America Neurorehabilitation Devices Market Size by Type
9.3 Latin America Neurorehabilitation Devices Market Size by Application
10 Middle East & Africa
10.1 Middle East & Africa Neurorehabilitation Devices Market Size (2016-2027)
10.2 Middle East & Africa Neurorehabilitation Devices Market Size by Type
10.3 Middle East & Africa Neurorehabilitation Devices Market Size by Application
11 Key Players Profiles
12 Analyst's Viewpoints/Conclusions
Related Report:
Neurostimulation Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast to 2026
The neurostimulation devices market is set to witness promising growth over the forthcoming time period owing to the increasing prevalence of neurological disorders. Neurostimulation is known as an advanced treatment for decreasing specific types of chronic pain and is also used for improving the quality of life for people who are suffering from acute losses to sense organs or are paralyzed. From a regional frame of reference, Latin America neurostimulation devices market was valued at over $320 million in 2019. The growth is ascribed to rising awareness regarding the availability and benefits of neurostimulation devices for neurological disease management thereby driving the regional market growth. Neurostimulation devices are implantable devices delivering electrical stimulation to certain parts of the patient’s peripheral nervous system or spinal cord, brain for the treatment of numerous conditions which includes Parkinson's disease, epilepsy, movement disorders, and chronic pain. The device is meant for delivering mild electrical signals to the epidural space close to the spine via one or more thin wires, known as leads.
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