The emergence of several new therapies over the past few years and the potential presented by additional investigational treatments are anticipated to drive the value of the neurorehabilitation devices market from US$894.9 mn in 2015 to US$3.2 bn by 2024 at a 15.5% CAGR therein. Read Full Report: http://www.transparencymarketresearch.com/neurorehabilitation-devices-market.html

1. Competition Intensifies among Vendors of
Neurorehabilitation Devices as Intensive Research
Becomes a Priority
Players in the healthcare and medical devices industry have recognized the growing need for
neurorehabilitation devices owing to the surging rise in the incidence of various neurological
disorders. As a result, manufacturers of neurorehabilitation devices such as St. Jude Medical,
Inc., Ekso Bionics Holding, Inc., Medtronic plc, Hocoma AG, Bioness, Inc., and AlterG, Inc.
have begun offering a wide variety of technologically advanced and more effective devices,
including brain-computer interfaces, wearable devices, neurorobotic systems, and non-invasive
brain stimulators. Among the aforementioned companies, Transparency Market Research has
found that Medtronic, St. Jude Medical, and Hocoma – the top three vendors catering to the
demand for neurorehabilitation devices – together accounted for a 50% share in the global
market.
“Over the past century, brain research has made tremendous progress and has almost been
keeping up with the pace at which neurodevelopmental disorders are growing,” a TMR analyst
states.
“Technological as well as scientific research is being carried out in various disciplines and
sectors, demonstrating the potential of the neurorehabilitation devices market.
The goal of neurorehabilitation device manufacturers is to lessen the long-term disability of the
patient, maximize their quality of life, and improve their overall psychosocial outcomes.
Innovative strategies for various neurological disorders are being developed by integrating
wearable technology, nanotechnology, robotics, Internet of Things, and non-invasive medical
technologies with the neurorehabilitation. A case in point would be St. Jude Medical’s Proclaim
ELITE. This is the first and only non-rechargeable and upgradeable spinal cord stimulation
system that has received approval for the delivery of burst stimulation to relieve chronic pain that
can be treated with neurorehabilitation.
“Strategic collaborations for business expansion is another crucial move manufacturers of
neurorehabilitation devices have been making to tighten their hold on the global market,” the
author of the study claims. Medtronic’s purchase of Sapiens Steering Brain Stimulation in
August 2014 and its acquisition of Covidien plc in June 2014 has not only expanded Medtronic’s
portfolio but also accelerated the company’s growth.
Dearth of Neurological Services a Deterrent in Low-income Countries

2. The surging incidence of neurological disorders, coupled by the rise in funding by private and
government organizations have fueled the demand for neurorehabilitation devices, TMR states.
These factors are anticipated to drive the opportunity in this market to rise at a 15.5% CAGR
from 2016 to 2024. The value of the neurorehabilitation devices market is poised to increase
from US$894.9 mn in 2015 to US$3.2 bn by the end of the forecast period.
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“The fact that neurological resources and services are disproportionately scarce, especially in
developing and low-income countries, acts as a major impediment to the growth of the
neurorehabilitation devices market,” the analyst states. “Moreover, there is a high disparity in the
number of trained and skilled professionals in comparison to the target population in emerging
economies.” This, along with the high cost of rehabilitation therapy, gives rise to considerable
challenges in the large-scale adoption of neurorehabilitation devices.
High Cost of Treatment is Likely to Restrict Wide-scale Adoption in APAC
North America and Europe are the largest revenue generators and dominated the global market in
2015. This can be primarily attributed to the growing prevalence of neurological conditions,
improvement in technology, the rising awareness regarding neurorehabilitation devices and
centers, and the presence of a well-established healthcare infrastructure. Although Asia Pacific is
an immensely promising market for neurorehabilitation devices and is projected to emerge as the
fastest developing regional market by 2024, it is the high cost of treatment that creates a barrier
in the seamless adoption of these devices in Asia Pacific, leading to a major deterrent in the
neurorehabilitation devices market.
This review is based on the findings of a TMR report titled “Neurorehabilitation Devices: Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.”
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