Growing geriatric populace and surging prevalence of chronic conditions and disabilities are expected to spur market growth
New York, December 13,2021 – The global robotic rehabilitation & assistive technologies market size is expected to reach USD 4.08 billion by 2028 at a CAGR of 12.7%, according to a new report by Reports and Data. Substantial increase in market revenue growth can be attributed to the expanding geriatric population, rising prevalence of congenital physical disabilities, growing burden of acute and chronic diseases, and increasing incidences of stroke, paralysis, or spinal injuries. Other major factors accountable for market revenue growth are rising applications of computational intelligence in assistive technology, surging demand for advanced robotic prostheses, and rapid incorporation of rehabilitation robotics and assistive technologies across hospitals, clinics, and palliative care facilities. Rising collaborations among research laboratories, academia, and leading industry players have led to path-breaking advances in assistive robotic technologies such as powered exoskeleton, which enables individuals with locomotor disabilities to move or walk better. For instance, a research team at Northern Arizona University led by Prof. Zach Lerner is currently working on the development of wearable exoskeleton devices to help disabled people improve their mobility.
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Robotic rehabilitation and assistive technologies are part of an advanced medical approach to restoring functional ability of the ill or disabled and improving their quality of life with the help of robotic devices. Rehabilitation robotics comprise robotic devices specifically designed to assist various sensorimotor functions that involve the use of hands, arms, or limbs. They help patients with daily repetitive tasks through the recovery process and also gather quantitative data about their performance and progress. These devices have proven to be most effective for individuals with motor function damage caused by stroke, severe functional disabilities like muscular dystrophy and Parkinson’s disease, cognitive or visual impairment, hearing loss, congenital disabilities, or wheeled mobility. Rehabilitation robotics is a specialized branch of biomedical engineering and extensively involves human-robot interaction for rehabilitation purposes. Several assistive technologies such as soft robotics and exoskeletons enhance the efficacy of rehabilitation therapies and ease patients’ lives, boosting their self-dependence.
Some Key Highlights from the Report:
- Based on application, stroke is the leading segment and is expected to account for largest revenue share over the forecast period. Increasing prevalence of cardiovascular disorders, rising cases of locomotor disability caused by stroke worldwide, and growing usage of rehabilitation robotics in motor skill therapy and gait training are among the key factors driving revenue growth of this segment.
- Asia Pacific robotic rehabilitation & assistive technologies market is expected to register the fastest revenue growth rate over the forecast period. Market growth in the region is supported by escalating demand for advanced rehabilitation robotic technologies, booming geriatric population, and rising cases of physical disabilities. Presence of state-of-the-art healthcare infrastructure in the region and augmented healthcare expenditures further boost the Asia Pacific market growth.
- The most prominent companies in the global robotic rehabilitation & assistive technologies market are ReWalk Robotics, AlterG, Inc., Bionik Laboratories Corp., Ekso Bionics, Vincent Medical, DIH Technologies Corporation (Hocoma), CYBERDYNE, INC., Kinova, Inc., Rex Bionics Ltd., and Instead Technologies, Ltd.
- In September 2020, Bionik Laboratories Corp., a leading robotic rehabilitation & assistive technology solutions provider, sold its BIONIK InMotion®ARM/HAND Interactive Therapy System to the Center for Neurorestoration and Neurotechnology (CfNN). The latest purchase is a part of CfNN’s mission to offer innovative solutions to Veterans with neurological conditions to help them restore their physical function.
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For the purpose of this report, the global robotic rehabilitation & assistive technologies market is segmented based on type, portability, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Humanoid
- Rehabilitation
- Surveillance & Security
- Socially Assistive
- Others
Portability Outlook (Revenue, USD Billion; 2018-2028)
- Standalone
- Mobile
Application Outlook (Revenue, USD Billion; 2018-2028)
- Post-surgery
- Stroke
- Orthopedics
- Cognitive & Motor Skill Therapy
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of the Middle East & Africa
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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