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Increasing Geriatric Populace is a Crucial Factor Propelling the Global Neurorehabilitation Device Market Growth

According to Inkwood Research, the Global Neurorehabilitation Device Market is projected to record a CAGR of 15.12% in terms of revenue during the forecasting years of 2021-2028.

“Browse 49 Market Data Tables and 50 Figures spread over 193 Pages, along with an in-depth TOC on the Global Neurorehabilitation Device Market Forecast 2021-2028.”

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Neurorehabilitation, also termed neurological rehabilitation, is a vital part of the recovery process in patients with brain injury. It aims to help recovery, reduce symptoms, improve function, and enhance the wellbeing of individuals who have sustained trauma to the nervous system.

Growing Geriatric Population to Fuel Market Growth

As per the Reliant Medical Group – Central Massachusetts Healthcare, the United States, neurological diseases like Alzheimer’s, neuropathy, and strokes, among others, are highly prevalent across the geriatric population. This is mainly attributed to the fact that such diseases preferentially impact the central nervous system. Similarly, according to the American Federation for Aging’s research, over 1 million Americans are affected by Parkinson’s disease, each year. Moreover, age is among the most substantial risk factors accredited to the neurological condition, as it worsens with age. In addition, Alzheimer’s Disease Facts and Figures Report estimates that at least 5.8 million Americans of all ages lived with Alzheimer’s dementia in 2020.



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Cognitive Care Center to be the Leading End-User

Cognitive care centers offer specialized care and rehabilitation services for individuals suffering from autistic spectrum conditions, brain injury, and mental health issues, among other neurological conditions like dementia, Alzheimer’s disease, and mild cognitive impairment. The global cognitive care center market is primarily fueled by increased mental health conditions and the growing healthcare expenditure. 

According to the World Health Organization (WHO), globally, 1 in every 160 children has autism spectrum disorder (ASD). Moreover, as per the Centers for Disease Control and Prevention (CDC), 1 in every 59 children in the United States had autism spectrum disorder (ASD), in 2020. This figure represented a 15% increase, compared to 2010. The surging healthcare expenditure also promotes the global cognitive care center market growth, as such centers provide healthcare services.

North America Dominated the Global Market in 2020

Over the forecast years, the North America neurorehabilitation device market is set to harbor the largest revenue share. The growth is primarily credited to key factors such as, the increasing geriatric population, the growing incidence of neurodegenerative conditions like Alzheimer’s and Parkinson’s disease, as well as the investments made for diagnosing and preventing them.

The intensity of competitive rivalry within the global neurorehabilitation device market is anticipated to remain high over the forecast period. The market is highly consolidated with the presence of several major players, including, St. Jude Medical, AlterG Inc, Medtronic PLC, Hocoma AG, etc. Enterprises also focus on mergers and acquisitions, new product developments, and collaborative research and development in order to strengthen their market positions. Leading companies operating in the global market include, Abbott Laboratories, Ekso Bionics Holdings Inc, etc.

About Inkwood Research

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 North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

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