Pune, India, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The global “rehabilitation robots’ market” is anticipated to gain momentum from a rise in geriatric population across the globe. According to a published report by Fortune Business Insights, titled, “Rehabilitation Robots Market: 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. 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.
Key Players Operating in The Rehabilitation Robots Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Cyberdyne Inc.
- Bionik, Hocoma
- Rex Bionics Ltd.
- Bioxtreme
- Ekso Bionics
- Corindus, Inc.
- ReWalk Robotics
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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 Industry 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.
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.
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