Rehabilitation Robots Market Worth US$ 3,178.77 million by 2028 COVID-19 Impact and Global Analysis End User, and Geography By The Insight Partners
Rehabilitation Robots Market: Insight
According to a new market research study of “Rehabilitation Robots Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, End User, and Geography”, the global rehabilitation robots market is expected to reach US$ 3,178.77 million by 2028 from US$ 798.92 million in 2021; it is estimated to grow at a CAGR of 21.8% from 2021 to 2028. The report highlights trends prevailing in the global rehabilitation robots market and the factors driving market along with those that act as hindrances. The growth of the rehabilitation robots market is attributed to the factors such as rise in geriatric population, stroke and robot-assisted training in rehabilitation therapy. Further, the availability of well-developed healthcare infrastructure and prompt government support are a few of the prominent factors propelling the market growth in North America.
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.
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Rehabilitation Robots Market Comparative Landscape and Key Development
BD, bioMerieux SA, Bio-Rad Laboratories Inc., 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, and Myomo Inc are among the leading companies operating in the rehabilitation robots market.
Rise in Geriatric Population, Stroke, and Robot-Assisted Training in Rehabilitation Therapy
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.
There is a concern to seek adaptive strategies to continue offering neurorehabilitation services during the COVID-19 pandemic, as the people with disabilities and chronic progressive diseases require constant monitoring and care. Patients suffering from stroke or COVID-19 develop anxiety, depression, fatigue, and post-traumatic stress disorder. In addition to the physical or cognitive state, psychological health acts as an indicator of the surviving population's quality of living. Nevertheless, considering the rapid spread of COVID-19, several healthcare service providers are working on strategies to promote physical distancing and enhance healthcare procedures. Social distancing measures have been adopted worldwide; the practices have led to disruptions in supply schedule and distribution processes, and manufacturers are facing many backorders on products. Therefore, the COVID-19 -pandemic has been having a slight negative affect on the rehabilitation robot market.
Rehabilitation Robots Market: Segmental Overview
Based on by 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 2020, and it is anticipated to register the highest CAGR of 23.2% during the forecast period. Factors such as an increasing awareness about the use and benefits of rehabilitation robots in therapeutic applications because of continuous government support as well as increasing investments in product development, sales, and distributions is offering lucrative opportunities for the growth of Asia Pacific rehabilitation robots market.
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