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Region : Global | Published Date: Jul, 2019 | Report ID: FBI101013| Status : Published
Global Rehabilitation Robots Market Was Valued at US$ 529.8 Mn in 2018 and is Projected to Reach US$ 2,617.3 Mn by 2026 Exhibiting a CAGR of 22.1% between 2019 and 2026
Rehabilitation robotics is a division of robotics that focuses on the development of machines/robots that help people recover from physical trauma. Robots designed are multi-functional manipulators to help move material and are vital to serve as devices to help people with disabilities. Since the evolution of rehabilitation robots since 1960s, it has been developed as assistive devices, prosthetics, robot-mediated therapy, and many others. The assistive technology aims to enhance the efficacy of medical treatment and to increase the ease of activities performed by patients with disabilities. Recently, in January 2019, Bionik Laboratories Corp., launched InMotion ARM/HAND robotic system for clinical rehabilitation of stroke survivors and those with mobility impairments due to neurological conditions. The introduction of new devices and the high investments by different key market players into rehabilitation robots will help in the rehabilitation market growth.
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Aging Population, Rising Cases Of Strokes And Serval Other Chronic Diseases to Favor Growth of the Market
Aging population and rising cases of stroke rendering people immobile, are few of the major factors driving the rehabilitation robots market growth. The therapeutics robots segment is anticipated to grow at a significant CAGR during the forecast period. For instance, PARO is a companion robot, developed by Dr. Takanori Shibata of Japan’s National Institute of Advanced Industrial Science and Technology. PARO has been designed for patients with Dementia, Alzheimer's, and other cognition disorders. Assistive robots help people with disabilities accomplish activities of daily living, such as walking and eating. These assistive robots are also used to recover a patient from a stroke or other causes of paralysis. The increasing investment by key market players in the development and design of novel assistive robots to treat patients with various disease conditions, is one of the major factor anticipated to drive the rehabilitation robots market growth. Increasing prevalence of diseases like cerebral palsy (CP), multiple sclerosis (MS), Parkinson’s disease (PD), and spinal cord injuries will also drive the need of the rehabilitation robots. These factors are anticipated to propel the rehabilitation robots market growth.
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Based on type, the global rehabilitation robots market segments include therapeutic robots, exoskeleton robots, assistive robots, and others. The exoskeleton robots segment is anticipated to grow at a relatively higher CAGR during the forecast period. Based on end user, the global rehabilitation robots market segments include rehabilitation centers, hospitals, and others.
Adoption of Rehabilitation Robots, Combined with Adequate Reimbursement Policies, to Propel Growth in North America
North America dominated the rehabilitation robots market in 2018, owing to the higher adoption of advanced technologies, comparatively higher per capita healthcare expenditure and adequate reimbursement policies. Asia Pacific is projected to register a significant CAGR by the end of the forecast period due to the increasing awareness about conditions such as Alzheimer’s, and dementia which has fueled the demand for therapeutic robots in these regions. The United Nation (UN) estimated that Asia Pacific accounts for 60 of the world's disabled population. Due to these trends, the adoption of prosthetic and handicap assistive robots are also growing at a faster pace in the region. Rest of the World is expected to project a moderate market growth by the end of 2026 due to developing healthcare infrastructure and low adoption of new technologies in countries such as Brazil, Mexico, and others.
North America Rehabilitation Robots Market Size, 2018
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Presence of an Innovative and Strong Portfolio to Aid CYBERDYNE INC., Ekso Bionics, and BIONIK in Leading the Global Market
The current global rehabilitation robots market is combined owing to the strong portfolio and diverse product offerings by major players in the rehabilitation robots products. CYBERDYNE INC., Ekso Bionics, and BIONIK are among the leading players in the rehabilitation robots market. A well-established brand presence and a strong distribution channel have been contributory in the success of these players in the market. Other market players include ReWalk Robotics, Rex Bionics Ltd., Corindus, Inc., Hocoma, Bioxtreme and others.
The rising adoption of prosthetic and assistive robots and increasing investment by key market players in the research and development of the rehabilitation robots are major factors propelling the market growth. Technological advancements along with new product launches in the market are some of the major factors likely to drive the rehabilitation robots market growth during forecast period.
The report provides qualitative and quantitative insights on rehabilitation robots industry trends and detailed analysis of market size & growth rate for all possible segments in the market. The rehabilitation robots market segments include the type and end user. Based on type, the global rehabilitation robots market is further segmented into therapeutic robots, exoskeleton robots, assistive robots, and others. Based on end user, the global rehabilitation robots market is segmented into rehabilitation centers, hospitals, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, and others. The regions are further categorized into countries.
Along with this, the report analysis comprises of market dynamics and competitive landscape. Additionally, the report offers insights on the prevalence of key disease conditions (Dementia, Alzheimer's, and other cognition disorders.) for key countries/region, recent industry developments such as partnerships, mergers & acquisitions, new product launch, a regulatory framework by key countries and reimbursement scenario by key regions.
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· Therapeutic Robots
· Exoskeleton Robots
· Assistive Robots
By End User
· Rehabilitation Centers
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Rest of World