Market Challenges And Opportunities

Higher costs hinders the market growth

The major restraint for the neurorehabilitation devices market growth, is the lack of ease associated to usage of these device and its unaffordability, mainly in emerging economies and low income regions such as the Middle East, Africa, and Latin America. Moreover, unavailability of skilled specialists to handle these devices hampers growth of the global market.

Increase in opportunities and demand for neurorehabilitation devices in the market research industry

Higher incidences of neurological disorders has helped boost the demand for neurorehabilitation devices over the recent years. People’s awareness related to health and the increasing investment in healthcare industry have created a high demand for these devices. According to Centers for Disease Control and Prevention (CDCP) 2015, around 130,000 individuals face fatal strokes every year in the United States. Thus, the increasing need to reduce the incidences of strokes every year, has resulted in the increasing demand for neurorehabilitation devices. Large number of people who are affected by Parkinson’s disease are recorded in regions such as U.S., U.K., Finland, Iceland, and Ireland. These regions extensively employ neurorehabilitation devices, fueling market growth. Additionally, age plays a critical role in increasing the risk of neurological related disease. Thus, regions with higher geriatric populations lend immense opportunities for growth of the neurorehabilitation devices market. Neurorehabilitation devices such as wearable technology, nanotechnology, and robotics, primarily work towards improving the nervous system, in turn reducing disability and increasing ease of daily functioning of individuals.

Asia pacific region making progressive walk towards neurorehabilitation device market

According to world health organization (WHO) 2016, the North American region was leading the global market for using and forming novel neurorehabilitation devices as this region comprises of a large population suffering from neural diseases. The same reports suggests that North America and Europe together hold around 34% of the share in this global market. However, Asia Pacific is expected to progress towards the leading position in the global market for neurorehabilitation devices over the forecast period. Moreover, Asia Pacific market is increasing the public awareness and investment in health care.