Neuro rehabilitation is a multipart medical process which is used to assist the recovery from a nervous system injury and also helps to reduce or compensate for any functional alterations resulting from it. It uses various devices to offer a series of therapies from occupational to psychological, training patients in communication, mobility skills etc. The commonly treated diseases are stroke, Parkinson’s disease, multiple sclerosis and cerebral palsy. The global neuro rehabilitation devices market is expected to have a CAGR of 15.3% during the forecast period 2016-2023 The major factors driving the global neuro rehabilitation devices market are increasing awareness among the physicians with respect to these devices, rising incidences of neurological diseases and increasing geriatric population. As per Administration for community living, population aged 65 and above is estimated to reach more than 80 million by 2050, which is twice of what was estimated in 2012. This growth is leading to increased prevalence of neurological diseases. According to the Centers for Disease Control and Prevention, it has been estimated that almost 130,000 Americans die from stroke each year, i.e. an average of one person in America dies from stroke every 4 minutes. In addition, Asia Pacific accounts for two-third of the world’s disabled population and this number is expected to increase tremendously. The major reason for this is the alarmingly high road traffic fatality rates. Globally, Asia pacific accounts for highest percentage of traumatic brain injuries due to unintentional injuries, road traffic accidents and falls. This wide-spread prevalence of stroke and traumatic brain injuries, resulting in various neurological disorders, is estimated to impact the demand for neuro rehabilitation devices globally. Furthermore, emergence of wearable technology and robotics will have tremendous impact on the development of neuro rehabilitation devices, and will push the researchers and device manufacturers to bring new innovative products as per the global market needs. However, lack of skilled and trained professionals, various legislations and government regulations and high cost of treatment are few restraints that are hampering the growth of the global neuro rehabilitation devices market.
Source: OBRC Analysis
The global neuro rehabilitation devices market is segmented on the basis of product and applications. On the basis of product, the market is segmented into:
- Neuro robotic systems
- Brain computer interface
- Non-invasive stimulators
- Wearable device
On the basis of application segment, market is sub segmented into:
- Stroke
- Traumatic brain injury
- Spinal cord injury
- Parkinson’s
- Cerebral palsy
The revenue for the above product and application segments is specific to the global neurorehabilitation devices market. However, the total revenue of these application and product in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up product and application segments.
Geographically, the global neuro rehabilitation devices market is segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America is the largest market of neuro rehabilitation devices due to increasing aging population, rising prevalence of neurological diseases and highly developed healthcare infrastructure in the region in comparison to any other. For instance, as per the U.S. Census Bureau, it has been estimated that approximately 20% of the U.S. population will be of age 65 years or above by 2030. Europe holds the second largest market share followed by Asia Pacific. Europe market is impacted by increasing geriatric population in the countries like UK, Germany etc. However, Asia Pacific is rising at a high CAGR due to large patient base, improving healthcare infrastructure and increasing government initiatives. APAC market will grow at a CAGR of around 18%during the forecast period of 2016- 2023.
In product segment, in 2015, neurorobotic system held the largest share for the global neuro rehabilitation devices market and is likely to retain its dominance during the forecast period. However, non-invasive brain stimulators, are estimated to witness the highest growth rate from 2016 to 2023. The application segment comprises of stroke market, traumatic brain injury market, spinal cord injury market, Parkinson’s market and cerebral palsy market. Treatment and therapies of Parkinson’s diseases is the fastest growing application area for this market owing to increasing prevalence of the diseases in the markets of the U.S., U.K., Iceland, Finland, and Ireland.
The major market players of the global neuro rehabilitation devices market are:
- AGILIAD
- BIONESS INC.
- BIOXTREME ROBOTICS REHABILITATION
- ST JUDE MEDICAL INC.
- OTHERS
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launching. In Feb 2017, Bioness launched the first series of successful Stim Router Neuromodulation system to further support clinicians who are looking to help their patients from long-term pain relief.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as product launch that is on February 2017, Bioness Inc, its first series of successful Stim Router Neuromodulation system.
- Provide in detail the different segments such as products and application which affect the global neuro rehabilitation devices market.
- Provide you the patent analysis of global neuro rehabilitation devices market.
- Identify and understand the strengths, opportunities, challenges and threats of global neuro rehabilitation devices market.
- Provide revenues of major players of the market such as Medtronic PLC, St Jude Medical Inc.
- Provide you various regulatory policies which affect the global neuro rehabilitation devices market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global neurorehabilitation devices market offers the longest chain of market segmentation covering major segmentation based on products and applications. The report tracks the major market trends in the global neurorehabilitation market such as rising technological advancements and rising awareness for neurorehabilitation services is contributing to increasing adoption of these devices. For each market segments covered in global neuro rehabilitation devices market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the neuro rehabilitation devices industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global neuro rehabilitation devices market:
- North America had the largest revenue share in 2016.
- Product Launch is the key strategy adopted by the various market players of global Neurorehabilitation Devices market.
