Rehabilitation robots are used in the recuperation process of disabled patients in standing up, balancing and gait. These robots must keep up with humans and their movements; therefore, while manufacturing the machine, the makers need to ensure that it would be consistent with the patient’s progress. The rehabilitation robots market is expected to witness a significant growth in the coming years owing to the factors such as rise in geriatric population, stroke and robot-assisted training in rehabilitation therapy. However, the high cost of the devices to hinder the market growth.
With the growth in research related to rehabilitation robotics, the manufacturing and deployment of therapeutic rehabilitation robots are rising across the world. Japan and China are among the Asia-Pacific countries with high elderly population; these countries, as well as other developing nations in the region, are witnessing the advancements in medical technology. According to the Ministry of Internal Affairs and Communications, ~35.2 million people in Japan were aged 65 or above in 2017, and this figure is predicted to jump to 36.2 million by 2020. Therefore, major companies in the healthcare sector are willing to invest in the development of advanced technologies for providing care to the region's older residents. Therefore, increasing elderly population and the growing prevalence of stroke, rendering people immobile, are among the significant factors driving the demand for rehabilitation robots.
Robot rehabilitation therapy is used to deliver high-intensity training for patients suffering from motor disorders caused due to diseases of spinal cord or stroke. Stroke is a top cause of severe long-term disability in the US, according to the Centers for Disease Control and Prevention (CDC). Fatigue, hemiparesis, and walking difficulty are a few effects of a stroke. Moreover, rehabilitation robots provide customized, task-oriented, prolonged, intensive, standardized, and reproducible training to patients affected by stroke or other nonprogressive brain lesions. Thus, the escalating demand for better and quicker healthcare services drive the growth of the overall rehabilitation robots market.
Based on type, the rehabilitation robots market is segmented into therapeutic robots, assistive robots, exoskeleton robots, and prosthetic robots. The exoskeleton robots segment held the largest share of the market in 2021, and it is anticipated to register the highest CAGR during the forecast period.
Based on end-user, the rehabilitation robots market is segmented into hospitals, rehabilitation centers, and specialty clinics. The rehabilitation centers segment held the largest share of the market in 2021 and is estimated to register the highest CAGR during the forecast period.
Players operating in the rehabilitation robots market have been majorly adopting the product innovation strategy to cater to the changing customer demand across the world, which also permits them to maintain their brand name globally.
The regional trends and factors influencing the Rehabilitation Robots Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Rehabilitation Robots Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 798.92 Million |
| Market Size by 2028 | US$ 3,178.77 Million |
| Global CAGR (2021 - 2028) | 21.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Rehabilitation Robots Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Rehabilitation Robots Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Rehabilitation Robots Market
Bionik Laboratories Corporation, Cyberdyne Inc., Ekso Bionics Holdings Inc, Rewalk Robotics Ltd, Hocoma Ag, Rehab-robotics Company Limited, Kinova Inc, Rex Bionics Ltd, Toyota Motor Corporation, Myomo Inc among Others. are some of the major players in the Rehabilitation Robots market.
Rehabilitation robots assist handicapped people in regaining their ability to stand, balance, and walk. Because these robots must keep up with a human's movement, the machine's designers must ensure that the machine will be consistent with the patient's development.
The growth of the market is attributed to the Factors driving the market growth include the rise in geriatric population, stroke and robot-assisted training in rehabilitation therapy. However, high cost of the devices to hinder the market growth.