Global neurorehabilitation devices market will grow from USD 1.9 billion in 2023 to USD 6.2 billion by 2033
From GlobeNewswire: 2024-05-27 01:00:00
The global neurorehabilitation devices market is set to grow from USD 1.9 billion in 2023 to USD 6.2 billion by 2033, with a CAGR of 12.55%. Technologies like robotics and AI are driving this growth due to the high prevalence of neurological disorders. North America dominates the market, but Asia-Pacific is expected to grow the fastest.
Neurorobotics lead the global neurorehabilitation devices market, with robotics, rehabilitation, and neuroscience playing a vital role. Stroke therapy holds the largest revenue share in 2023, aiding millions of Americans who experience strokes. North America’s dominance is attributed to improved healthcare infrastructure, while Asia-Pacific is expected to grow rapidly due to lifestyle factors.
Key players in the market include Bionik Laboratories Corp., Abbott Laboratories, and Medtronic. Recent developments include a partnership between Manitoba Harvest and Brightseed to produce bioactive fiber. The market is segmented by product, therapy area, and region. Spherical Insights provides detailed analysis and forecasts for the global neurorehabilitation devices market.
In conclusion, the global neurorehabilitation devices market is poised for significant growth driven by technological advancements, increasing prevalence of neurological disorders, and strategic partnerships. The market is segmented by product, therapy area, and region, with North America currently dominating. Asia-Pacific is expected to experience rapid growth, offering lucrative opportunities for market expansion.
Read more at GlobeNewswire: Global Neurorehabilitation Devices Market Size To Exceed