Global Neurorehabilitation Device Market Future Demand, Challenges, Top Companies and Forecast 2030

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."

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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.

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.

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