The healthcare industry is currently witnessing a technological transformation. With the advancements in technology and frequent product launches, the adoption of virtual neurorehabilitation devices is increasing globally, and several new products of this class are entering the market, while a few centers were also established in recent years.

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 For instance, in February 2023, Lupin launched-class Neuro-rehabilitation center in Mumbai. The neuro-rehabilitation center has a comprehensive suite of state-of-the-art equipment including an end-effector-based robotic solution for gait and hand training, balance training and postural control, occupational therapy, speech therapy, and swallowing therapy, cognitive behavioral therapy, aqua therapy, visual therapy, and virtual reality amongst others.

Further, the growing number of IoT devices around the globe, and increasing awareness about the need and benefits of virtual neurorehabilitation devices technology, and R&D activities have also enhanced the adoption rate of virtual neurorehabilitation devices.

Furthermore, burgeoning competition in terms of new players foraying into the virtual neurorehabilitation devices landscape along with evolving governmental policies, and growing demand for virtual neurorehabilitation devices are some of the major factors influencing the demand of virtual neurorehabilitation devices among consumers.

Countries such as China and Japan in the Asia-Pacific region and Germany, Spain, and Italy in the European region are some of the other larger adopters of virtual neurorehabilitation device appliances.

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Adding to this, the demand for VR neurorehabilitation devices is increased due to the rising demand for personalized care devices and the increasing geriatric population. For instance, as per the World Health Organization, By 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion.

Major development and new Start-ups

Virtual neurorehabilitation devices are working on new technology and only a few players are in this industry. However, the number of start-ups increasing such as mindmaze in this domain and developing more advanced solutions. Furthermore, with the increasing product launches and investments the demand for virtual neurorehabilitation devices increases.

 Some of the prominent product launches and investments in the virtual neurorehabilitation devices ecosystem include:

• In 2023, DIH, the leading global robotics and virtual reality (VR) technology provider announced that its medical device manufacturing company Hocoma AG has successfully established compliance with Medical Device Regulation (EU) 2017/745 as one of the first medical device companies in the rehabilitation robot industry.

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• In 2022, Neuro Rehab VR announced the launch of the XR Therapy Certification course. The certification program includes hardware and software training and qualifies for up to two continuing education credits. This certification is the first of its kind in the United States and the only VR system to carry State Board-approved certification.

FIG. 2          Leading Start-Ups in Virtual Neurorehabilitation Devices

Conclusion:

The virtual neurorehabilitation devices industry is witnessing rapid expansion, with the emergence of new players and increasing product launches by them. Further, investments in virtual neurorehabilitation devices technologies have also increased over the past few years and so are the adoption rate. Healthcare facilities in the US are the highest adopter of virtual neurorehabilitation devices technology followed by developed European countries including the UK, Denmark, and France. Developing countries such as India, China, and other Middle East countries have witnessed increased adoption of virtual neurorehabilitation devices technologies over the past few years, but at a slow pace, however, the demand for Virtual neurorehabilitation devices is expected to increase by 2022, owing to increase in neurological disorders. Contact Universal Data Solutions, a rapidly growing dynamic market research firm led by a core of dedicated professionals for further information. According to the Universal Data Solutions analysis, the development of advanced technologies would massively transform the global scenario of Virtual Neurorehabilitation Devices and as per their “Virtual Neurorehabilitation Devices Market” report, the global market was valued at USD 171.86 million in 2021, growing at a CAGR of 16.9% during the forecast period from 2022 - 2028 to reach USD XX million by 2028.