Neurorehabilitation market set to reach $6.18 billion by 2032 due to increasing demand for therapies.
From GlobeNewswire: 2024-12-20 08:00:00
The Neurorehabilitation market was valued at USD 1.95 billion in 2023 and is expected to reach USD 6.18 billion by 2032, growing at a CAGR of 13.68%. Increasing cases of neurological disorders like stroke and spinal cord injuries are driving market growth. Advanced technologies and growing awareness of early rehabilitation are key factors boosting the market.
Neurorehabilitation involves therapies to help patients recover from neurological injuries. Demand for these therapies is rising globally due to increasing neurological conditions. Advanced technologies like neuro-robotic devices and brain-computer interfaces are being adopted to improve patient recovery outcomes. Market growth is also fueled by factors like technological advancements and growing patient populations.
Neuro-robotic devices dominate the market, accounting for 45% of the share in 2023. These devices combine robotics with therapies to enhance patient recovery and are increasingly used in rehabilitation centers and hospitals. Brain stroke was the dominant application, accounting for around 35% of the market share due to the high global prevalence of strokes.
North America held the largest market share in 2023, benefiting from advanced healthcare systems and increasing healthcare spending. The region is driven by the U.S., with high investments in R&D. Asia Pacific is expected to exhibit the highest growth rate, driven by increasing healthcare investments and rising patient populations, particularly in countries like China, Japan, and India.
Recent developments include partnerships and launches of innovative technologies in the neurorehabilitation space to enhance patient recovery outcomes. For example, the Mondino Foundation partnered with Kemtai to launch a study for Parkinson’s patients, while Strolll announced an agreement with Cleveland Clinic for AR neurorehabilitation. Trilife Hospital launched a new Neuro Rehabilitation and Sports Medicine Center, while NeuroLife Technologies introduced a wearable device for brain-computer interface neurorehabilitation. BrainPulse Technologies launched a brainwave stimulation tool for cognitive recovery in TBI patients. A new device using non-invasive transcranial magnetic stimulation aims to improve neural connectivity and rehabilitation. The Neurorehabilitation Market Analysis & Outlook Report for 2024-2032 includes key points like market segmentation, company profiles, and regional analysis. Purchase options range from single reports to a 150-report pack subscription. SNS Insider offers market research and consulting services globally to help clients navigate changing circumstances with confidence.
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