Neurorehabilitation Market to Grow $2.45 Billion, Globally, by 2030 at 8.35% CAGR

Rise in the prevalence of neurological diseases, increase in product approvals by regulatory authorities, and surge in funding for R&D activities drive the growth of the global neurorehabilitation market.

PORTLAND, Ore., Dec. 14, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Neurorehabilitation Market by Type (Neuro-Robotic Devices, Non-Invasive Stimulators, and Brain-Computer Interfaces), Application (Brain Stroke, Parkinson's Disease, Multiple Sclerosis, Spinal Cord Injury, Traumatic Brain Injury, Cerebral Palsy, and Others), and End-User (Rehabilitation Centers, Hospitals, and Clinics): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global neurorehabilitation market size was accounted for $1.09 billion in 2020, and is anticipated to garner $2.45 billion by 2030, growing at a CAGR of 8.35% from 2021 to 2030.

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Drivers, restraints, and opportunities

Rise in the prevalence of neurological diseases, increase in product approvals by regulatory authorities, and surge in funding for R&D activities drive the growth of the global neurorehabilitation market. However, high cost of neurorehabilitation devices hinders the market growth. On the contrary, surge demand for telerehabilitation is expected to open new opportunities for the market players in the future.

Covid-19 scenario:

• The Covid-19 outbreak disrupted the workflow in the healthcare sector. The pandemic resulted in a reduction in the number of beds in the neurorehabilitation units that allow patients and doctors to work in intensive care and deal with Covid-19 patients.
• In-patient neurorehabilitation has been limited to only patients with post-acute disabilities and degenerative diseases.

The non-invasive stimulators segment dominated the market

By type, the non-invasive stimulators segment held the largest share in 2020, accounting for nearly half of the global neurorehabilitation market. Moreover, the segment is estimated to register the highest CAGR of 8.77% during the forecast period, due to rise in advancements in technologies and increased demand for non-invasive techniques. The report includes an analysis of other segments such as neuro-robotic devices and brain-computer interfaces.

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The rehabilitation centers segment to portray the highest CAGR through 2030

By end-user, the rehabilitation centers segment is projected to manifest the highest CAGR of 8.53% during the forecast period, due to increased awareness and rise in demand for neurorehabilitation. However, the hospitals segment dominated the market in terms of revenue, contributing to more than two-fifths of the global neurorehabilitation market, due to rise in demand for neurorehabilitation in hospitals.

North America to hold the largest share

By region, the global neurorehabilitation market across North America held the largest share in 2020, accounting for more than two-fifths of the market, owing to a rise in investments for growth in R&D activities and geographic expansion of neurorehabilitation devices companies in this region.  However, the market across Asia-Pacific would register the highest CAGR of 9.53% from 2021 to 2027.

Major market players

• Bionik Laboratories Corp.
• Bioventus (Bioness Inc.)
• BioScience Managers Ltd (Rex Bionics Ltd)
• Ekso Bionics Holdings, Inc.
• DIH (Hocoma AG)
• Neofect
• Eodyne
• Reha Technology AG
• Neuro Rehab VR
• ReWalk Robotics Ltd.

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