Rehabilitation Robotics Market Overview
While most technologies are still developed and perfected and have yet to find their way, the global market for robotic rehabilitation and assistive technologies is still incipient. It is said that universities, laboratories and start-up companies are exploring only a small part of the various applications. Nowadays, a population of rapidly growing elderly people and more strokes that make people immobile are driving sales in the market.
What is the Size of Rehabilitation Robotics Market?
According to the research report, the Rehabilitation Robotics Market Size was valued USD 765.1 Million in 2016, it is expected to reach USD 2290.3 Million by the end of 2025, with increasing at a CAGR of 13.1% during the forecast period 2018-2025
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Rehabilitation Robotics Market Drivers and Restraints:
Robotic rehabilitation and assistive technologies can be divided into autonomous and mobile technologies, according to their portability. The independent robots are established in one place and perform a single task or a set of fixed tasks. They are not designed to perform multiple tasks and their operations are limited. However, they remain the gross maximum income in the market. Likewise, during the next two years, the sector will maintain its dominant share in turnover thanks to the useful refund policies and its effectiveness in the rehabilitation of hospitalized patients. In addition, technological advances are a key factor that should boost growth in the sector during the forecast period.
The fall in sales, on the other hand, is the high price of robotic remediation technologies and assistive technologies. However, the development of more sustainable manufacturing methods will help overcome the price challenge in the near future.
The assistance robot, which is a medical device that performs actions for people with disabilities and helps older people to do their daily work, accounts for the maximum proportion of market revenue. In the coming years, the segment should also retain its dominant share.
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Rehabilitation Robotics Market geographical Analysis:
Geographically, the global market for robotic rehabilitation technologies is dominated by North America. This is due to a well-established robotic industry, the rapid adoption of new technologies and robotic remediation assistance. In the coming years, North America will maintain its leading position by growing at a compound annual growth rate of 12.8%. The market is expected to reach USD 1.07 billion by 2025. Europe is lagging behind North America in terms of market share. The market of the region, driven mainly by Germany, is stimulated by the rapid adoption of new technologies for robotic rehabilitation and assistive technologies.
In terms of growth rates, the Asia and the Pacific region is expected to outperform all other regions, attributing to the aging of the population.
A few of the pioneering companies in the global robotic rehabilitation market are Accuray Incorporated, AlterG, Inc., Bionik Laboratories Corp., DIH Technologies Corporation, Ekso Bionics, Intuitive Surgical, Inc, Instead Technology Ltd., Mazor Robotics, Reha-Stim Medtec GmbH & Co. KG, and Vincent Medical.
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