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Global Neurorehabilitation Devices Market to Grow at a CAGR of 12.1% During the Period 2022-2027, Driven by Need to Effectively Manage Neurological Problems and an Ageing Global Population

According to a new report by EMR titled, ‘Global Neurorehabilitation Devices Market Report and Forecast 2022-2027’, the global neurorehabilitation devices market is expected to grow at a CAGR of 12.1% during the period 2022-2027, led by technological advancements.

Neurorehabilitation of the central nervous system (CNS) is an important component of rehabilitation medicine. Multiple alternatives for intervention in neurological rehabilitation include occupational therapy, electric physiotherapy, physical therapy, speech and language therapy, and other methods; new treatment methods produced enabled by modern scientific and technological progress also play an important role and are expected to boost market growth. Further, the ageing global population is expected to drive market growth. Lack of full recovery necessitates the development of novel neurorehabilitative treatments suited to patients and better targeting the particular disability. Such need of neurorehabilitative treatments is likely to drive the global neurorehabilitation devices market. North America, Europe and Asia Pacific are likely to be key markets.

 

Key Developments

In 2022, it was reported that electrical stimulation improved arm control in paralyzed monkeys. University of Pittsburgh researchers revealed that electrical stimulation of surviving nerves of the upper spinal cord damaged by severe injury could enhance motor control of the upper limb and enable people with restricted arm function to partly reattain lost movement. Such developments are expected to boost the global neurorehabilitation devices market. Arm and hand mobility deficits are some life-changing difficulties that stroke patients and paralyzed people have to face. Even mild restrictions to arm and hand movement greatly curb patients’ freedom and quality of life, making restoration of upper limb control a significant focus in neurorehabilitation. Such developments are likely to drive the global neurorehabilitation devices market.

 

In 2022, Blackrock Neurotech acquired MindX to strengthen its development of technically sophisticated brain-computer interface products. Blackrock sought to enhance its neural data analysis and enable flexibility and customization for multiple BCI applications by fusing its hardware DNA with MindX’s software DNA. Further, the chance to widen applications through spatial software and [augmented reality] advanced the company’s commercialization aims.

 

In 2022, SpineX began participant enrolment in clinical trial of SCONE Device; the trial was meant to evaluate the SCONE Device’s efficacy and safety to treat neurogenic bladder. Neurogenic bladder is a common comorbidity occurring in individuals after paralysis.

 

In 2022, BIONIK Laboratories announced the sale and installation of a New InMotion® ARM/HAND robotic device to Tampa General Hospital for its rehabilitation centre as part of its mission to offer customized, intense rehabilitation customized to the needs of individuals recovering from brain injury, stroke, neurological and other conditions.

 

Key Findings of the Report

  • The global neurorehabilitation devices market is expected to be driven by the need to effectively manage neurological problems.
  • Technological advances are likely to boost market growth.
  • North America, Europe and Asia Pacific are projected to be key markets.

 

Market Analysis by Product, Therapy Area and Region

  • By product, the market is classified into Neurorobotics, Brain-computer interface, Non-invasive Stimulators, Wearable devices, and Others.
  • By therapy area, the market is segmented into Stroke, Multiple Sclerosis, Parkinson's Disease, Cerebral Palsy, and Others.
  • By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

 

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

 

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

 

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