Pune, India, Oct. 20, 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.
Growing Incidence of Spinal Cord Injuries and Strokes to Favor Growth of Therapeutics Robot Segment
The report classifies the global rehabilitation robots market 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.
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This in turn, is anticipated to increase the global rehabilitation robots market sales. 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.
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) approvedReStore 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/HANDrobotic 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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Cyberdyne Inc., a robotics and technology company, based in Japan, announced that it has received approval from the FDA for the sale of HAL (Hybrid Assistive Limb) lower-body exoskeleton in medical facilities in January 2018. HAL is a walking robot that can strap itself to a patient’s legs. The sensors that are attached to the patient’s leg muscles detect bioelectric signals from their brain to the muscles. The system enhances the patient’s stability and strength as the exoskeleton assists in movements. Earlier, in February 2016, Apollo Hospitals unveiled ApoKos, India’s first rehabilitation hospital. ApoKos offers comprehensive rehabilitation for a range of medical conditions.
Dr. Takanori Shibata of Japan’s National Institute of Advanced Industrial Science and Technology developed PARO, a therapeutics robot and announced the launch of the same in December 2009. PARO robot was delivered to several healthcare organizations and hospitals during the pre-marketing phase. The robot resembles a baby harp seal that helps in therapy and has been used with dementia patients, autistic children, and people with disabilities.
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Fortune Business Insights has profiled some of the prominent companies operating in the global rehabilitation robots market. Some of them are Cyberdyne Inc., Bionik, Hocoma, Rex Bionics Ltd., Bioxtreme, Ekso Bionics, Corindus, Inc., ReWalk Robotics, and other prominent market players.
List of Companies Profiled:
- CYBERDYNE INC.
- Ekso Bionics
- BIONIK
- ReWalk Robotics
- Rex Bionics Ltd.
- Hocoma
- Bioxtreme
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 22.1% |
| 2026 Value Projection | USD 2,617.3 Billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 529.8 Billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 120 |
| Segments covered | By Type, By End User, By Geography. |
| Growth Drivers | Owing to the higher adoption of advanced technologies |
| Increasing awareness about conditions such as Alzheimer’s, and dementia which has fueled the demand for therapeutic robots in these regions. |
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