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The North America neurorehabilitation device market is registered to grow with a CAGR of 14.35%, over the forecast years of 2021 to 2028. The growing geriatric populace, the investments made for preventing and diagnosing neurogenerative ailments, the increased incidence of neurological conditions, and the rising federal governments' funding.
The North America neurorehabilitation device market is evaluated by assessing the United States and Canada. In Canada, the neurorehabilitation market is propelled by the investments designated for the diagnosis and prevention of neurodegenerative diseases, and the initiatives undertaken by the country's senate. Canada's government continually funds research associated with dementia, annually, as well. According to the Alzheimer Society Canada, the number of Canadians affected by dementia is increasing at a constant pace, considering the country's female and male population.
Similarly, 564,000 citizens lived with dementia in 2020, and this figure is anticipated to increase by 66%, by 2031. As per Dementia in Canada, the Canada Senate adopted the order of reference in 2016, providing authority to the Standing Senate Committee on social affairs. This was essentially done in order to examine and report the incidence of dementia in Canada.
The Alzheimer Society Canada also states that the country's government spends nearly $41 million through the Canadian Institutes of Health Research (CIHR) each year. The expenditure on research operation aims at innovating and developing Alzheimer's therapeutics, as well as diagnosis, in addition to the research investments. This aspect largely enhances awareness, in terms of neurodegenerative diseases. Therefore, such factors are expected to reinforce the neurorehabilitation device market growth in Canada, during the forecast period.
Some of the leading companies operating in the market are, Ekso Bionics Holdings Inc, Abbott Laboratories, Bionik Laboratories Corp, etc.
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