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Significant headways in neurorehabilitation, advanced mechanics, and fringe gadgets have added to the making of complex assistive gadgets for stroke patients. The target of these gadgets is to work with stroke survivors' independence, versatility, and engine expertise improvement, in this way embodying a pattern toward individualized restoration draws near. The market for stroke assistive devices is outstandingly influenced by the medical care industry, as restoration focuses, clinics, and centres carry out state of the art advancements to work with far reaching stroke recovery. The clinical effect of stroke assistive gadgets requires rigid administrative systems for their turn of events, assembling, and promoting. These systems impact item plan, quality confirmation, and market passage procedures. Market elements are considerably influenced by monetary variables, including protection inclusion and medical care consumption, which thus influence the moderateness and openness of stroke assistive gadgets. The market elements are worked on through worldwide cooperation and examination in stroke restoration, which progresses the comprehension of neurorehabilitation and improves the utilization of assistive gadgets in light of developing difficulties. Stroke risk factor training and mindfulness, as well as the advancement of assistive gadget reception and early mediation, are critical to guarantee ideal post-stroke care and work with expansive acknowledgment. The cutthroat climate inside the medical services innovation area, explicitly in the advancement of stroke assistive gadgets, is moulded by continuous development and separation strategies, which plan to work on the viability and convenience of the gadgets. The redid idea of stroke recuperation influences market elements, requiring assistive gadgets that are adjusted to explicit prerequisites and phases of recuperation. The previously mentioned adaptability enhances the viability and gathering of advancements used in stroke restoration. The openness and moderateness of recovery assistive gadgets assume a basic part in guaranteeing fair admittance to these gadgets across different financial sections, subsequently applying an effect on market elements. Organizations that oblige these variables advance market inclusivity and help people who have endure strokes.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Application, Distribution Channel, and Region |
Stroke Assistive Devices Market Highlights:
Global Stroke Assistive Devices Market Overview
The Stroke Assistive Devices Market size was valued at USD 0.75 billion in 2022 and is projected to grow from USD 0.80 billion in 2023 to USD 1.44 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.2% during the forecast period (2023 - 2032). The increasing prevalence of stroke disorders across the globe and the increase in R&D investments are driving the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Stroke Assistive Devices Market Trends
- Increasing number of people suffering from stroke across the globe to boost the market growth
Stroke has become more common in recent years for several reasons like as blocked arteries and leaking of blood vessels. Some patients have momentary disruption of blood flow to the brain which is known as transient ischemic attack (TIA). As per the Word Stroke Organization in 2022, around 12.2 million new stroke cases were observed every year, and globally, one in four people aged more than 25 years suffered from a stroke in their lifetime. Furthermore, each year more than 16% of stroke cases develop in people 15-49 years of age, and globally more than 101 million people have experience with stroke. In addition, rising demand for stroke assistive devices also creates the interest of major players in the development and launch of new products in the market for better assistive stroke care. Companies like Health Robotics S.R.L.(Italy), Mazor Robotics Ltd (Israel), and Intuitive Surgical Inc (US) are investing in the development and manufacture of advanced technology strokes assistive devices products such as mobility assistive devices and others to meet the customer demand as well as provide effective stroke assistive management for stroke patients which positively influence the demand of stroke assistive devices market growth.
Stroke Assistive Devices Market Segment Insights
Stroke Assistive Devices Type Insights
The Market segments of Stroke Assistive Devices, based on type, includes mobility assistive devices, fixed assistive devices, communication devices, cognitive devices. The mobility assistive devices segment held the majority share in 2022 in the Stroke Assistive Devices Market revenue due to the mobility assistive devices improved mobility and enable them to perform their daily task independently.
ReWalk received CE mark for its product “ReStore Exo-Suit Stroke Rehabilitation Device”.
The company can sale this product in European Union. This CE mark exo-suit, a next generation medical device which This CE Mark is the first approval of a soft exo-suit, a next generation medical device which can provide a higher and extra diverse patient population suffering mobility issues.
Stroke Assistive Devices Application Insights
The Stroke Assistive Devices Market segmentation based on application includes hospitals, specialty clinics, physiotherapy centers, ambulatory surgical centers, home care settings, rehabilitation centers, others. The home care settings segment dominated the market in 2022 due to the the home-care setting is expected to hold a substantial share of this market as the patients prefer to get treatment at home in order to avoid the risks associated with hospitalization. In addition, the rising geriatric population and the increasing occurrences of strokes are likely to fuel the demand for stroke assistive devices from the home-care setting. Hospitals, on the other hand, are expected to remain an important segment of this market as these are the places where the recovery process of a stroke patient usually begins.
Stroke Assistive Devices Distribution Channel Insights
The Stroke Assistive Devices Market segmentation based on distribution channel includes direct sales, online sales, retail pharmacies, medical stores. Retail pharmacies segment dominated the market in 2022 due to the availability of proficient medical retail staff which can provide proper knowledge about the application of products and their use. Retail pharmacies can easily understand the patient's prescription and they can provide proper instruction about the products.
Figure 2: Stroke Assistive Devices Market, By Distribution Channel, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Stroke Assistive Devices Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Stroke Assistive Devices market is expected to account for USD 0.4 billion in 2022 and is expected to exhibit a 6.9% CAGR during the study period. This is attributed to the presence of top-notch healthcare infrastructure, high spending on stroke-related research, and increasing prevalence of stroke. For instance: According to the Centre for Disease Control and Prevention in 2021, each year, over 795,000 suffered from stroke in the US and around 610,000 of these patients had experienced with new stroke. Thus rising cases of stoke, presence of major players, and better healthcare infrastructure are propel the growth of the stroke assistive devices market in the region.
Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Stroke Assistive Devices Market Share By Region 2023 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe stroke assistive devices market is expected to account for the second-largest market share due to the availability of advanced medical facilities, rising research and development activity, increasing incidence of stroke, and the growing presence of stroke assistive devices manufacturers propelling the growth of stroke assistive devices market in the Europe region. Further, the Germany Stroke assistive devices market is expected to to hold third place for the market share, and the UK stroke assistive devices market is expected to fastest-growing market, and which is in the 4th place in the European region. Furthermore, France's stroke assistive devices market will hold the 5th place for the market share.
The Asia-Pacific stroke assistive devices market is expected to grow at a high growth rate from 2023 to 2032. This is due to the increasing geriatric population, growing inclination towards better treatment facilities, rising awareness about the advanced technological stoke assistive medical devices as well as improving economic conditions. Moreover, the China stroke assistive devices market is expected to hold the largest market share, and the India stroke assistive devices market is expected fastest-growing market in the Asia-Pacific region.
The Rest of the World includes the Middle East, Africa, and Latin America. Latin America hold the large market share in rest of the world region due to the improving medical facilities, increasing medical education, and government support for developing better health infrastructure in the region contribute to the growth of the rest of the world's stroke assistive devices market.
Stroke Assistive Devices Key Market Players & Competitive Insights
The presence of major market players in the Stroke Assistive Devices Market is characterized by the presence of many international, regional, and local players. The companies are investing in R&D activities to expand their product portfolio for stroke assistive devices, which further drives the growth of the Stroke Assistive Devices market. Moreover, the vendors compete based on cost, product quality, reliability, and aftermarket services and try to be the first to bring treatment for the public. It is crucial for the players to offer cost-efficient and high-quality products for Stroke Assistive Devices to succeed in an intensely competitive market environment.
One of the primary business strategies adopted by manufacturers in the global stroke assistive devices industry to benefit clients and expand the stroke assistive devices market sector is to manufacture locally to reduce operating costs.
AnthroTronix is a research and development (R&D) firm focusing in the development of advanced interface technology; product development for robotic control systems wearable computing,and development,design,and testing of simulation tools for trainingpurpose. AnthroTronix was acknowledged as a 2008 Inc. 5000 Fastest Growing Company.The company supplies its R&D advanced technology product development and services to governmental customers and commercial.
Key Companies in the Stroke Assistive Devices Market includes
- AnthroTronix (US)
- ReWalk Robotics (US)
- Bionik Laboratories (US)
- Saebo (US)
- Ekso Bionics (US)
- Bioxtreme Robotics Rehibilitation (Israel)
- Mazor Robotics Ltd. (Israel)
- Intuitive Surgical Inc. (US)
- Interactive Motion Technologies (US)
- Accuray, Inc (US)
Stroke Assistive Devices Industry Developments
August 2023 : ReWalk (US) announced acquisition of AlterG which is a a leading inventor and supplier of Anti-Gravity systems for use in neurological rehabilitation and physical. This transaction includes AlterG’s present and upcoming product lines to ReWalk’s existing portfolio of neurorehabilitation products and is presumed to significantly expand its customer-facing expertise and expand future growth opportunities.
May 2023: Bionik Laboratories announced that the company has entered into a distribution agreement with Pro-Med Technology for the distribution of InMotion Robotic Devices in Hong Kong. This distribution agreement boosted the business growth of Bionik Laboratories in Hong Kong.
Stroke Assistive Devices Market Segmentation
Stroke Assistive Devices Type Outlook
- Mobility Assistive Devices
- Fixed Assistive Devices
- Communication Devices
- Cognitive Devices
Stroke Assistive Devices Application Outlook
- Hospitals
- Specialty Clinics
- Physiotherapy Centers
- Ambulatory Surgical Centers
- Home Care Settings
- Rehabilitation Centers
- Others
Stroke Assistive Devices Distribution Channel Outlook
- Direct Sales
- Online Sales
- Retail Pharmacies
- Medical Stores
Stroke Assistive Devices Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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