The publisher, in its research report, estimates the global neurorehabilitation device market to proliferate with a CAGR of 14.52% in the forecast years 2019-2028.
The growing prevalence of neurological diseases is the major driving force behind the growth of this market. Further, the rise in the elderly population and the growing adoption of neurorehabilitation wearables & robotics are aiding this growth. In addition, technological advancements and the rising occurrence of neurological disorders in developing nations are creating major opportunities for growth. However, the lack of a skilled workforce to cater to people with neurological diseases and the high cost of treatment are hindering the market growth. In addition, stringent regulations by the government are creating hurdles in the path of growth.
The global market for neurorehabilitation device spans across the regions of North America, the Asia-Pacific, Latin America, Europe, and the Middle East and Africa.
The Asia-Pacific region is expected to showcase the fastest growth rate in the global market in the forecast period. The APAC market is being driven mainly by the growth in the elderly population in the region. For instance, Japan has the highest number of older adults in the region. In addition, the government & private organizations are taking initiatives to spread awareness about neurological conditions. Further, they are also helping patients with such conditions to lead normal lives. The growing prevalence of neurological diseases, especially the older age group, is a major factor fueling market growth in the Asia-Pacific.
The competitive players in the neurorehabilitation device market are Neurostyle Pte Ltd, Biometrics Ltd, Ectron Limited, Medtronic Inc, Kinova, Abbott Laboratories, Tyromotion GmbH, Bioxtreme, Saebo, Bionik Laboratories Corp, Kinestica, Hokoma AG, Reha Technology AG, Ekso Bionics Holdings Inc, and Helius Medical Technologies.
Abbott Laboratories is a pharmaceutical company developing, manufacturing, and marketing a broad line of healthcare products. The company offers medical devices, diagnostic systems, neuromodulation devices, generic pharmaceuticals, and pediatric & adult nutritional products. It sells its products under multiple brand names, such as HeartMate, Oxepa, Cell-Dyn, Similac, Duspatal, FreeStyle, FlexAbility, Heptral, and Alinity. Proclaim Elite Recharge-free SCS System, Prodigy MRI Implantable Pulse Generator, and Infinity DBS IPG are some of its neurorehabilitation devices. The company was founded in 1888, and operates in several nations, including the US, Germany, China, Japan, the Netherlands, India, and Switzerland.
Key Topics Covered:
1. Global Neurorehabilitation Device Market - Summary
2. Industry Outlook 2.1. Market Definition 2.2. Porter's Five Forces Model 2.2.1. Threat of New Entrants 2.2.2. Threat of Substitute Products 2.2.3. Bargaining Power of Buyers 2.2.4. Bargaining Power of Suppliers 2.2.5. Competitive Rivalry 2.3. Supply Chain Outlook 2.4. Impact of Coronavirus on Neurorehabilitation Device Market 2.5. Etymology of Neurorehabilitation Device 2.6. Key Impact Analysis 2.7. Market Attractiveness Index 2.8. Key Insights 2.9. Market Drivers 2.9.1. Rise in Geriatric Population 2.9.2. Growing Emergence of Neurorehabilitation Wearables and Robotics 2.9.3. Rising Prevalence of Neurological Diseases 2.10. Market Restraints 2.10.1. Lack of Skilled Workforce to Treat and Manage Neurological Diseases 2.10.2. High Cost of Treatment 2.11. Market Opportunities 2.11.1. Advancements in Technology 2.11.2. Rising Incidence of Neurological Disorders in Developing Economies 2.12. Market Challenges 2.12.1. Stringent Government Regulations
3. Neurehabilitation Device Market Outlook - by Product 3.1. Neuro-Robotic System 3.2. Brain-Computer Interface 3.3. Wearable Device 3.4. Non-Invasive Stimulator 3.5. Other Products
4. Neurehabilitation Device Market Outlook - by Application 4.1. Stroke 4.2. Cerebral Palsy 4.3. Parkinson's Disease 4.4. Multiple Sclerosis 4.5. Other Applications
5. Neurehabilitation Device Market Outlook - by End-User 5.1. Hospital/Clinic 5.2. Research Institute 5.3. Cognitive Care Center 5.4. Other End-User
6. Neurehabilitation Device Market - Regional Outlook 6.1. North America 6.1.1. Market by Product 6.1.2. Market by Application 6.1.3. Market by End-User 6.1.4. Country Analysis 22.214.171.124. United States 126.96.36.199. Canada 6.2. Europe 6.2.1. Market by Product 6.2.2. Market by Application 6.2.3. Market by End-User 6.2.4. Country Analysis 188.8.131.52. Germany 184.108.40.206. France 220.127.116.11. United Kingdom 18.104.22.168. Italy 22.214.171.124. Russia 126.96.36.199. Spain 188.8.131.52. Rest of Europe 6.3. Asia-Pacific 6.3.1. Market by Product 6.3.2. Market by Application 6.3.3. Market by End-User 6.3.4. Country Analysis 184.108.40.206. China 220.127.116.11. Japan 18.104.22.168. Australia & New Zealand 22.214.171.124. India 126.96.36.199. South Korea 188.8.131.52. Asean Countries 184.108.40.206. Rest of APAC 6.4. Latin America 6.4.1. Market by Product 6.4.2. Market by Application 6.4.3. Market by End-User 6.4.4. Country Analysis 220.127.116.11. Mexico 18.104.22.168. Brazil 22.214.171.124. Rest of Latin America 6.5. Middle East and Africa 6.5.1. Market by Product 6.5.2. Market by Application 6.5.3. Market by End-User 6.5.4. Country Analysis 126.96.36.199. Saudi Arabia 188.8.131.52. United Arab Emirates 184.108.40.206. Turkey 220.127.116.11. South Africa 18.104.22.168. Rest of Middle East & Africa
8. Research Methodology & Scope 8.1. Research Scope & Deliverables 8.1.1. Objectives of Study 8.1.2. Scope of Study 8.2. Sources of Data 8.2.1. Primary Data Sources 8.2.2. Secondary Data Sources 8.3. Research Methodology 8.3.1. Evaluation of Proposed Market 8.3.2. Identification of Data Sources 8.3.3. Assessment of Market Determinants 8.3.4. Data Collection 8.3.5. Data Validation & Analysis