Surging Geriatric Population stimulates the Global Neurorehabilitation Device Market Growth at 15.16%
Inkwood Research evaluates that the Global Neurorehabilitation
Device Market is estimated to project a CAGR of 15.16% in terms of revenue during
the forecast period, 2019-2028.
“Browse 44
Market Data Tables and 49 Figures spread over 175 Pages, along with an in-depth
TOC on the Global
Neurorehabilitation Device Market Forecast
2019-2028.”
With the
increasing prevalence of neurological disorders, there is growing adoption of
neurorehabilitation devices. They are prescribed to patients for relief and
assistance. Its wearables and robotics are thriving, which is beneficial for
global market growth. They assist patients, researchers, and medical
professionals. The growth prospects have led to various companies focusing on
the production of wearables and robotics.
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Rising Elderly Population Propels Market Growth
The geriatric
population across the globe is on the rise. This results in increased demand
for neurorehabilitation device. This is because the elderly population is
mostly at the receiving end, when it comes to neurological disorders. One of
the prevalent disorders includes Alzheimer’s. The American Federation for
Aging's research states that more than 1 million US citizens are affected by
Parkinson’s diseases. Alzheimer's also cause dementia in the elderly population.
Neurological disorders affect thinking skills and memory, thereby causing
hindrance in the simplest tasks. The Alzheimer’s Association states that around
one in 10 persons aged 65 and above in the US has Alzheimer’s dementia.
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Neuro-robotic System presided over the Product Segment in
2019
Neurorobotics,
as integrative research filed, encompasses the combination of neuroscience,
machine learning, and robotics. It helps the researchers and neuroscientists in
validating their hypotheses in simulated closed-loop experiments. Technological
advancements in the Neurorobotic system have been beneficial for market growth.
Robots play the role of therapy aids more than just being assistive devices. In
terms of rehabilitation, robotics has been effective with regard to therapy for
patients suffering from motor impairments. Innovations in robotics technology,
and its incorporation in neuroscience has led to the emergence of
next-generation rehabilitation techniques.
North America was the Dominant region in 2019 (In terms of
Revenue Share)
The North
American region houses a growing elderly population, which leads to increased
incidences of Parkinson’s and Alzheimer’s diseases. The regional market growth
is also supplemented by initiatives, investments, and funding made by federal
governments. The National Institute of Health invested almost $589 million on
research projects related to Alzheimer’s disease.
Hokoma AG,
Biometrics Ltd, Medtronic Inc, Bioxtreme, Abbott Laboratories, etc. are some of
the leading companies in the global market. The competitive nature of the
market is determined to be high throughout the forecast period. Companies are
increasingly prioritizing mergers & acquisitions, product development, and
R&D activities, with an aim to embolden their stance in the global market.
About
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Inkwood Research specializes in
syndicated & customized research reports and consulting services. Market
intelligence studies with relevant fact-based research are customized across
industry verticals such as technology, automotive, chemicals, materials,
healthcare, and energy, with an objective comprehension that acknowledges the
business environments. Our geographical analysis comprises of North & South
America, CEE, CIS, Middle East, Europe, Asia, and Africa.
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