Dublin, April 07, 2022 (GLOBE NEWSWIRE) -- The "Rehabilitation Robots - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Rehabilitation Robots Market to Reach $1.8 Billion by 2026
The global market for Rehabilitation Robots estimated at US$566.5 Million in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2026, growing at a CAGR of 21.7% over the analysis period.
Ever-increasing demand from vulnerable population (disabled, elderly, infirm, paralyzed) as well as acute shortage of healthcare workers is driving growth in the market.
Constantly upping demand for active lifestyle and mobility in aging people, stroke survivors and people with disabilities is rendering rehabilitative assistance critical to the path of recovery. Rapid surge in physiotherapy volumes, coupled with advancement in robotic and prosthetic technologies have paved ways for deployment of robots to handhold patients for novel pain management therapy, gait training and physical rehabilitation assistance.
Major technological companies and universities are tapping into this ever-increasing demand and developing newer and advanced assistive robots, exoskeletons, robotic prosthetics as well as orthotics.
Upper Extremity, one of the segments analyzed in the report, is projected to grow at a 19.4% CAGR to reach US$754.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lower Extremity segment is readjusted to a revised 21.9% CAGR for the next 7-year period.
This segment currently accounts for a 24.7% share of the global Rehabilitation Robots market. Upper extremity rehabilitation robots are broadly of two types, namely portable assistive devices or orthoses for the hand or arm, and in-clinic devices used in occupational or physical therapy. Rehabilitation robotic devices for lower extremity include exoskeleton devices, foot orthoses, in-clinic body weight support systems (treadmill gait trainers, stationary gait trainers, foot plate gait trainers, and overground gait trainers).
The U.S. Market is Estimated at $253.1 Million in 2021, While China is Forecast to Reach $268.7 Million by 2026
The Rehabilitation Robots market in the U.S. is estimated at US$253.1 Million in the year 2021. The country currently accounts for a 38.78% share in the global market.
China, the world`s second largest economy, is forecast to reach an estimated market size of US$268.7 Million in the year 2026 trailing a CAGR of 23.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.5% and 19.2% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 19.7% CAGR while Rest of European market (as defined in the study) will reach US$331.1 Million by the end of the analysis period. Growth in developed regions is being spurred by prevalence of chronic and infectious diseases, growing number of patients visiting hospitals, and increased need to scale up healthcare operations.
Other major factors favoring the market prospects include higher awareness about various disease conditions among population, consumer affluence supporting the compulsion for care services, and encouraging reimbursement schemes. Among the developed nations, Japan is showing the way in overcoming healthcare workers shortfall with federal government spending nearly one-third of the national budget on developing robots which can take care of elderly.
A host of factors are contributing to rapid uptake of medical robots in developing regions, including an aging population in Asian countries and rising instances of disabilities among adults. Along with the elderly population, rising incidences of physical debilitation induced by traumatic spinal, nerve and orthopedic injuries, arthritis and brain trauma hold key to the growth of assistive robotics in this region.
Full-Body Exoskeletons Segment to Reach $448.2 Million by 2026
In the global Full-Body Exoskeletons segment, USA, Canada, Japan, China and Europe will drive the 25.2% CAGR estimated for this segment. These regional markets accounted for a combined market size of US$94.7 Million in the year 2020.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$45.9 Million by the year 2026.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of COVID-19 Pandemic and a Looming Global Recession
- Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Market
- Robotics Play an Increasingly Important Role in Medical Sector
- An Introduction to Rehabilitation Robots
- Functional Roles of Rehabilitation Robots
- Rehabilitation Robotics: Historical Background
- Global Market Prospects & Outlook
- Robotics Stride Ahead to Restore Mobility and Supplement Physiotherapist Efforts in Stroke Patients
- Developed Regions Lead Market, Developing Economies to Spearhead Future Growth
- Competition
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 100 Featured)
- Bionik Laboratories Corp.
- BioXtreme
- Corindus, Inc.
- CYBERDYNE Inc.
- Ekso Bionics Holdings Inc.
- Hocoma AG
- Parker Hannifin Corp.
- Rehab-Robotics Company Limited
- ReWalk Robotics Ltd.
- Rex Bionics Ltd.
- Siemens AG
- Tyromotion GmbH
3. MARKET TRENDS & DRIVERS
- Rising Prominence of Robotics Technology in Patient Rehabilitation and Therapy
- Aging Population with Age-related Conditions Drive Demand for Rehabilitation Robots
- Increasing Incidence of Neurological & Musculoskeletal Disorders and Other Chronic Medical Conditions to Propel Market Growth
- Rising Significance of Rehabilitation Robots for Physical Therapy of Stroke Survivors
- A Glance at Select Population Stroke Rehabilitation Robots
- Osteoarthritis & Osteoporosis: Major Health Conditions Affecting Mobility in the Elderly to Drive Market Growth
- Rising Incidence of Physical Disabilities: A Grim Reality Driving Significance of Rehabilitation Robots
- Percentage of Population with Disabilities by Age Group
- Smarter Rehabilitation through Machine Learning and Robotics
- Eldercare-Assistive Robots: Enabling Elderly and Disabled to Live Independently
- Therapeutic Rehabilitation Robots Market: Providing Assistance to Patients with Motor Disorders
- Exoskeleton Robots: Enabling Medical Rehabilitation
- Shortage of Home Care Workers and Rising Care Costs for Disabled and Elderly Turn Focus onto Rehabilitation Robots
- Shift towards Home Healthcare Augurs Well for the Market
- Rehabilitation Robots for Treatment of Post-CNS Sensorimotor Deficits: A Neurophysiological Perspective
- Technology Advancements in Rehabilitation Robots to Boost Market Prospects
- Handicap Assistance Robots: A Key Opportunity
- Rehabilitation Robots and Virtual Reality to Enhance Physical Therapy
- Select Innovative Technologies and Devices in Robotic Rehabilitation
- Current Areas of Research and Devices
- Consistent Rise in Healthcare Spending Worldwide to Support Market Growth
- Challenges Confronting Rehabilitation Robots Market
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/z3wijs
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