According to a published report by Fortune Business Insights, titled, “Rehabilitation Robots Market Size, Share and Global Trend By Type (Therapeutic Robots, Exoskeleton Robots, Assistive Robots, Others), By End User (Rehabilitation Centers, Hospitals, Others), and Geography Forecast till 2026 :Global Market Analysis, Insights and Forecast, 2019-2026,” the 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% during the forecast period.
The global rehabilitation robots industry is foreseen to pick up energy from an ascent in geriatric populace over the globe.
Key players leading the global rehabilitation robots market include,
- Cyberdyne Inc.
- BIONIK, Inc.
- Hocoma AG
- Rex Bionics
- Bioxtreme Robotics Rehabilitation
- Ekso Bionics
- Corindus Vascular Robotics
- ReWalk Robotics, Inc. and other prominent market players.
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“Growing Incidence of Spinal Cord Injuries and Strokes to Favor Growth of Therapeutics Robot Segment”
The report classifies the global rehabilitation robots market on the bases of type, end user, and geography. In terms of type, the market is segmented into therapeutics robot, assistive robot, exoskeleton robot, and others. Numerous prominent market players have recently started investing huge sums of money in the design and development of assistive robots in order to treat those with chronic health conditions. This in turn, is anticipated to increase the global rehabilitation robots market sales.
Fortune Business Insights predicts that the therapeutics robots segment will witness significant growth in the CAGR during the forecast period. This is mainly due to the rising incidence of strokes and spinal cord injuries that in turn, affect mobility of people. All these factors contribute to the global rehabilitation robot market growth in the coming years. By end user, the market is grouped into hospitals, rehabilitation centers, and others.
Segmentation for Rehabilitation Robots Market
- Therapeutic Robots
- Exoskeleton Robots
- Assistive Robots
By End User
- Rehabilitation Centers
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“FDA Approvals and Product Launches to Strengthen Market Positions of Key Market Players”
The global rehabilitation robots market is combined due to diverse product offerings and strong company portfolios. ReWalk Robotics, Inc., a developer of wearable robotic exoskeletons, based in the U.S., announced in June 2019 that the Food and Drug Administration (FDA) approved ReStore soft exo-suit system for sale to the rehabilitation centres in the U.S.
The system will be used to treat the stroke survivors with mobility challenges. The exo-suit is also cost-effective and functional. It can be used in the ‘Main Street’ clinics. Bionik Inc., a global pioneering healthcare company, headquartered in Canada, announced the launch of its new generation InMotion ARM/HAND robotic system in January 2019. The system will aid in the clinical rehabilitation of stroke survivors and will also be provided to those who are suffering from mobility impairments due to neurological conditions.
Cyberdyne Inc., a robotics and technology company, based in Japan, announced that it has received approval from the FDA for the sale of HAL (Hybrid Assistive Limb) lower-body exoskeleton in medical facilities in January 2018. HAL is a walking robot that can strap itself to a patient’s legs.
The sensors that are attached to the patient’s leg muscles detect bioelectric signals from their brain to the muscles. The system enhances the patient’s stability and strength as the exoskeleton assists in movements. Earlier, in February 2016, Apollo Hospitals unveiled ApoKos, India’s first rehabilitation hospital. ApoKos offers comprehensive rehabilitation for a range of medical conditions.
Dr. Takanori Shibata of Japan’s National Institute of Advanced Industrial Science and Technology developed PARO, a therapeutics robot and announced the launch of the same in December 2009. PARO robot was delivered to several healthcare organizations and hospitals during the pre-marketing phase. The robot resembles a baby harp seal that helps in therapy and has been used with dementia patients, autistic children, and people with disabilities.
KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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