The global neurorehabilitation market size was assessed at USD 1.29 billion in 2022 and is predicted to witness a significant growth trajectory, with a Compound Annual Growth Rate (CAGR) of 9% from 2023 to 2030, reaching USD 2.58 billion. This substantial expansion is highlighted in a comprehensive report released today by SNS Insider.
Neurorehabilitation, which encompasses therapies and interventions aimed at helping individuals recover from neurological disorders and injuries, is gaining prominence as advancements in medical technology and understanding of neuroplasticity continue to evolve. The rising prevalence of neurological conditions such as stroke, traumatic brain injuries, spinal cord injuries, and multiple sclerosis, among others, is propelling the demand for effective rehabilitation solutions worldwide.
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Key players in the neurorehabilitation market include:
· Abbott Laboratories
· BioScience Managers Ltd
· Helius Medical Technologies
· Medtronic Inc
· Hocoma AG
· Ekso Bionics Holdings Inc
· Bionik Laboratories Corp
· Other prominent players in the market
These companies are at the forefront of innovation, driving research and development efforts to introduce novel therapies, devices, and technologies that enhance neurorehabilitation outcomes.
Abbott Laboratories, renowned for its diverse portfolio of healthcare products, continues to invest in neurorehabilitation solutions aimed at improving patient outcomes and quality of life. Similarly, BioScience Managers Ltd, a global healthcare investment firm, plays a pivotal role in supporting promising startups and ventures focused on neurorehabilitation advancements.
Helius Medical Technologies, known for its groundbreaking Portable Neuromodulation Stimulator (PoNS™) device, is revolutionizing neurorehabilitation by harnessing the principles of neuroplasticity to facilitate recovery in patients with neurological deficits. Medtronic Inc, a leader in medical technology, is actively involved in developing advanced neurostimulation therapies and devices for neurological disorders.
Hocoma AG specializes in robotic rehabilitation solutions, offering cutting-edge devices designed to assist individuals with neurological impairments in regaining mobility and function. Ekso Bionics Holdings Inc and Bionik Laboratories Corp are leading providers of exoskeletons and robotic-assisted rehabilitation systems, empowering individuals with disabilities to achieve greater independence and mobility.
The neurorehabilitation market is witnessing significant investments in research and development, strategic collaborations, and mergers and acquisitions to broaden product portfolios and expand market presence. With a growing emphasis on personalized and patient-centric care, there is immense potential for innovation and growth in the neurorehabilitation sector.
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