At 15.4% CAGR, Asia Pacific Neurorehabilitation Devices Market is Projected to be worth US$ 1,399.71 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific neurorehabilitation devices market was valued at US$ 445.40 million in 2023 and is expected to reach US$ 1,399.71 million by 2031, registering a CAGR of 15.4% from 2023 to 2031. Growing number of clinical studies on neurorehabilitation devices and increasing prevalence of neurological diseases are among the critical factors attributed to drive the Asia Pacific neurorehabilitation devices market growth.

Clinical studies validate the safety and effectiveness of newly developed neurorehabilitation devices. They provide evidence that neurorehabilitation devices help improve the quality of life of patients suffering from neurological diseases. These studies encourage healthcare centers to integrate these devices into their treatment programs. For instance, “Clinical Study of a Wearable Remote Rehabilitation Training System for Patients With Stroke: Randomized Controlled Pilot Trial” was published in February 2023. The clinical study aimed to design a remote intelligent rehabilitation training system based on wearable devices and human-computer interaction training tasks and evaluate its safety and efficiency. In December 2022, a clinical trial study, “Effects of robotic rehabilitation +using the Erigo device on patients with neurological injury: a systematic review and meta-analysis of randomized clinical trials,” was published. The trial studied the effects of the Erigo robotic rehabilitation device on patients with neurological injury based on parameters such as safety, muscle strength, spasticity, functionality, gait/balance, and changes in the level of consciousness. The study concluded that Erigo, as a robotic rehabilitation device, is safe for patients with acquired brain injury and can reduce spasticity in patients with stroke. Thus, the increasing number of clinical studies on neurorehabilitation devices favors the growth of the market worldwide

On the flip side, high costs associated with neurorehabilitation devices hampers the growth of Asia Pacific neurorehabilitation devices market.

By product type, the Asia Pacific neurorehabilitation devices market is segmented into neurorobotic system, brain computer interface, non-invasive stimulators, and wearable devices. The brain computer interface segment held 52.5% share of Asia Pacific neurorehabilitation devices market share in 2023, amassing US$ 234.00 million. It is projected to garner US$ 784.40 million by 2031 to register 16.3% CAGR during 2023–2031.

In terms of application, the Asia Pacific neurorehabilitation devices market is segmented into stroke, traumatic brain injury, spinal cord injury, Parkinson's disease, cerebral palsy, and others. The stroke segment held 48.8% share of Asia Pacific neurorehabilitation devices market share in 2023, amassing US$ 217.16 million. It is projected to garner US$ 713.42 million by 2031 to register 16.0% CAGR during 2023–2031.

By end user, the Asia Pacific neurorehabilitation devices market is segmented into contract rehabilitation centers, hospitals & clinics, and home care. The hospitals & clinics segment held 56.8% share of Asia Pacific neurorehabilitation devices market share in 2023, amassing US$ 253.14 million. It is projected to garner US$ 884.33 million by 2031 to register 16.9% CAGR during 2023–2031.

Based on country, the Asia Pacific neurorehabilitation devices market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.8% share of Asia Pacific neurorehabilitation devices market in 2023. It was assessed at US$ 123.97 million in 2023 and is likely to hit US$ 411.95 million by 2031, registering a CAGR of 16.2% during 2023–2031.

Key players operating in the Asia Pacific neurorehabilitation devices market are Abbott Laboratories; BIONIK; BioXtreme Ltd; Blackrock Microsystems Inc; Ekso Bionics Holdings Inc; EMOTIV; Hocoma AG; Medtronic Plc; Renishaw Plc; and Tyromotion GmbH, among others.

• April 2024, Cryptocurrency company Tether invested $200 million into Blackrock Neurotech to take a majority stake in the Brain Computer Interface (BCI) company.

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