Virtual Reality in Neurorehabilitation Stepping into Recovery Beyond Traditional Therapy: The Virtual Neurorehabilitation Device Market and its Impact on Patient Care

Virtual Neurorehabilitation Device Market to Record an Exponential CAGR by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Virtual Neurorehabilitation Device Market- by Applications (Brain Stroke, Parkinson's Disease, Multiple Sclerosis, Spinal Cord Injury, and Cerebral Palsy), End-Users (Hospitals & Clinics, Rehabilitation Centers, and Home Care Settings), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global Virtual Neurorehabilitation Device market is expected to register a CAGR of 16.2% during a forecast period of 2024-2031.

Virtual Reality in Neurorehabilitation
Virtual reality (VR) technology is increasingly being used in the field of neurorehabilitation. This technology allows users to interact with computer-generated environments, creating a new avenue for physical therapy and rehabilitation. Most neurological rehabilitation techniques, regardless of the underlying cause, aim to facilitate the relearning or improvement of motor skills.

VR Applications in Stroke Recovery
The growing prominence of startup culture is fostering collaboration between neuroscientists and virtual reality companies. This collaboration is leading to exciting new applications of VR, particularly in accelerating stroke patient recovery. Neuroscientists are actively exploring the potential of VR to enhance treatment outcomes, and companies in the neurorehabilitation device industry are well-positioned to benefit from these advancements through partnerships and collaboration.

Market Growth Drivers
The virtual neurorehabilitation device market is experiencing significant growth fueled by several key factors:
• Gamification in Rehabilitation: The growing trend of incorporating game-like elements into rehabilitation therapies is making VR a more engaging and effective treatment option.

• Rise of VR-Focused Neuroscience Startups: The increasing number of startups focused on developing VR solutions for neurological applications is driving innovation and expanding the market landscape.

• Advanced Wearable Technologies: New products like advanced wristbands capable of transmitting machine-interpretable commands and seamless integration with VR and Functional Electrical Stimulation (FES) systems are creating a demand for more versatile virtual neurorehabilitation devices. These innovative wearables are enabling developers to expand their offerings and provide more comprehensive solutions for the medical field.

Additional Growth Opportunities
• Aging Population: The rapidly aging global population is expected to contribute significantly to market growth, as the need for effective neurorehabilitation solutions increases.

• Efficacy of VR Rehabilitation: The proven effectiveness of VR therapy in neurological rehabilitation is fostering wider adoption and market expansion.

• Increased R&D Investments: Growing investments in research and development (R&D) for virtual neurorehabilitation technologies will ensure continued market progress and innovation.

• Rising Demand for Neurological Treatment: The increasing prevalence of neurological conditions, coupled with advancements in robotic rehabilitation technologies, is creating new demand for virtual neurorehabilitation solutions.

• Government Funding: Increased government funding for scientific and medical research, including support for VR applications in healthcare, has the potential to further propel the virtual neurorehabilitation device market.
The future of virtual neurorehabilitation appears bright, with the potential to revolutionize how patients recover from neurological conditions. By addressing the growing needs of the healthcare industry and leveraging the power of collaboration and innovation, the virtual neurorehabilitation device market is poised for continued significant growth.

North America is anticipated to be the major contributor to the Virtual Neurorehabilitation Device market over the forecast years. Demand in this region was spurred by an increase in the number of people experiencing neurological disorders as a result of ageing or other health conditions, as well as improvements in the healthcare system.

The North American market for virtual neurorehabilitation devices is anticipated to get considerable revenue contributions from the United States during the forecast period. The adoption of certain neurorehabilitation products is fueling the market growth. Robust healthcare infrastructure is making it possible for the industry to expand as awareness of the advantages of virtual neurorehabilitation devices grows.

In addition, the Asia Pacific Virtual Neurorehabilitation Device market is expected to grow significantly during the forecast period. Increasing the number of people with neurological disorders and improving the healthcare system would give firms additional opportunity to enter this lucrative industry, even though there aren't any monopolised significant players there yet. Additionally, one of the major drivers of growth for the Asian sector is the rising awareness along with the always-improving healthcare infrastructure.

Major market players operating in the Virtual Neurorehabilitation Device market include
ICAROS GmbH, Ekso Bionics Holdings Inc., Barron Associates, Hocoma AG, Neuro Rehab VR, Eodyne, Neofect, MindMaze, reHaptix GmbH, Oxford VR, Euleria, Virtual Therapy Solutions, LLC, ReWalk Robotics, Recovery Tech, Inc., and other Prominent Players.

Recent collaborations and agreements in the market:
• In March 2021, Reha Technology and DIH, the leading global supplier of robotics and virtual reality (VR) technology, forged a strategic partnership. DIH will immediately advertise and distribute Reha Technology's end-effector-based gait therapy products in significant markets like the US, Switzerland, and Germany. In accordance with the agreement's conditions, DIH will take over Reha Technology's robotics products' distribution.

• In January 2019, Ekso Bionics signed a contract with Zhejiang Youchuang Venture Capital Investment Co., Ltd. to establish joint ventures to establish a global exoskeleton manufacturing facility and take advantage of the potential exoskeleton market in China and other markets in Asia (ZYVC).

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Market Segments
Global Virtual Neurorehabilitation Device Market, by Product Applications, 2022-2030 (Value US$ Mn)
• Brain Stroke
• Parkinson's Disease
• Multiple Sclerosis
• Spinal Cord Injury
• Cerebral Palsy

Global Virtual Neurorehabilitation Device Market, by Product End-users, 2022-2030 (Value US$ Mn)
• Hospitals & Clinics
• Rehabilitation Centers
• Home Care Settings

Global Virtual Neurorehabilitation Device Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Virtual Neurorehabilitation Device Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada

Europe Virtual Neurorehabilitation Device Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Virtual Neurorehabilitation Device Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Virtual Neurorehabilitation Device Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Virtual Neurorehabilitation Device Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Virtual Neurorehabilitation Device market
 To receive an industry overview and future trends of the Virtual Neurorehabilitation Device market
 To analyze the Virtual Neurorehabilitation Device market drivers and challenges
 To get information on the Virtual Neurorehabilitation Device market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Virtual Neurorehabilitation Device market industry

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