Virtual Neurorehabilitation Devices Market: Current Analysis and Forecast (2022-2028)

Virtual Neurorehabilitation Devices Market: Current Analysis and Forecast (2022-2028)

Virtual neurorehabilitation devices are technological solutions that use virtual reality and other interactive technologies to aid in the rehabilitation of individuals with neurological impairments. These devices offer a non-invasive and engaging way to improve motor function, cognitive abilities, and other neurological functions, making them a popular alternative to traditional rehabilitation methods. The virtual neurorehabilitation devices market refers to a range of technological solutions that aid in the rehabilitation of individuals who have experienced neurological damage or disorders. These devices provide various exercises and simulations to improve motor function, cognitive abilities, and other neurological functions. The global virtual neurorehabilitation devices market is expected to grow in the coming years, driven by several factors, such as increasing incidences of neurological disorders, a rise in the geriatric population, and advancements in technology. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2020, about 87% of strokes are ischemic strokes in which blood flow towards the brain is blocked and brain cells die in aged people.

The Virtual Neurorehabilitation Devices Market is expected to grow at a strong CAGR of 16.9% during the forecast period owing to the frequent product launches and rising number of start-ups in the field. For instance, in December 2020, Reha-Stim Medtec, Inc., announced the introduction of the new FLOAT with VR. The FLOAT combined with its new therapy-specific virtual reality capability allows the FLOAT with VR to address all 10 of the physical medicine program principles found to be important for delivering the best patient outcomes for motor recovery.

• Based on application, the market is categorized into brain stroke, Parkinson’s disease, multiple sclerosis, spinal cord injury, and cerebral palsy. Among these, brain stroke held a dominating share of the market in 2021. This is mainly due to the increasing prevalence of stroke and the growing demand for innovative rehabilitation solutions, which are driving the growth of the virtual neurorehabilitation devices market. These devices offer a convenient and effective way to provide rehabilitation services to stroke survivors, and they are expected to play an increasingly important role in stroke rehabilitation in the future.
• Based on the end-users, the market is categorized into hospitals & clinics, rehabilitation centers, and home care settings. Hospitals & Clinics held a prominent share of the market in 2021. Virtual neurorehabilitation devices are used in hospitals and clinics to help patients with neurological disorders or injuries recover their motor function and improve their quality of life. These devices use technology such as virtual reality, motion sensors, and other digital tools to create a simulated environment that allows patients to practice movements and activities that they may not be able to perform in real life is the main attributing factor for the large share of the segment.
 
• For a better understanding of the market adoption of the virtual neurorehabilitation devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Netherlands, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. North America dominated the Virtual Neurorehabilitation Devices market in 2021. North America is home to a large geriatric population and consists of a significant portion of American society. As per the administration for community living, the number of older Americans has increased by 14.4 million (or 36%) since 2009 in 2019. With the rising age, the risk of neurological disorders also increases which becomes an important factor for the growth of the virtual reality neurorehabilitation market to deal with the increasing cases. Furthermore, the presence of advanced technology in the region and the major economies such as the U.S. is also a responsible factor for the large market share of virtual reality in neurorehabilitation devices in North America.
• Some of the major players operating in the market include Ekso Bionics, Hocoma, MindMaze, Neuro Rehab VR, ReWalk Robotics, eodyne, Neofect, Euleria S.r.l., Immersive Rehab, and ICAROS GmbH.