Global Rehabilitation Robots Market Size, Share, Growth Analysis, By Application(Welding & Soldering, Pick & Place), By Robot Type(SCARA, Articulated), By Industry(Electrical & Electronics, Automotive) - Industry Forecast 2024-2031

Report ID: SQMIG45A2292 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 100 | Figures: 71

Global Rehabilitation Robots Market Insights

Global Rehabilitation Robots Market size was valued at USD 265.55 Million in 2022 and is poised to grow from USD 312.02 Million in 2023 to USD 1133.67 Million by 2031, growing at a CAGR of 17.5% in the forecast period (2024-2031).

The increasing incidence of spinal cord injuries is driving the growth of rehabilitation robots, as the use of exoskeletons is recommended to improve the outcome of spinal cord injury patients. This has become an important factor for patients except orthopedic and medical robotic health care providers. According to the WHO, there are approximately 250,000 to 500,000 spinal cord injuries per year worldwide. This increase in patient numbers has led to an increase in the use of orthopedic implants.

This increasing number of people suffering from such conditions has led to the widespread use of rehabilitation robots as these devices assist patients with different functional abilities or physical limitations to stand there, balance and maintain gait. According to the WHO, by 2021, there would be approximately 1.71 billion people worldwide with musculoskeletal conditions.

Furthermore, the demand for rehabilitation robots is growing, as they offer various benefits. It gives the spinal cord injured person the opportunity to gain mobility and posture at a lower metabolic cost. Moreover, technological developments such as AI & ML with advanced sensors also open new opportunities for the market. Another driver of growth is the increasing percentage of older people dealing with chronic diseases.

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Leading players are focusing on mergers and acquisitions and industrial synergy strategies to strengthen their product lines by offering new offerings. Companies are increasingly focusing on introducing innovative solutions, expanding their geographic reach through various strategies such as product launches, partnerships, product endorsements, and collaborations. 'Rex Bionics Ltd', 'Ekso Bionics Holdings Inc.', 'Cyberdyne Inc', 'Bionik Laboratories Corporation', 'Rehab-Robotics Company Limited', 'DIH Medical', 'TYROMOTION GMBH', 'Leaders Rehab Robot Co. Ltd', 'ReWalk Robotics', 'AlterG', 'MediTouch', 'Reha-Stim Medtec AG', 'Fourier Intelligence', 'Bioxtreme', 'Hocoma AG (DIH International Ltd.)'

An aging population and increasing cases of immobile fractures are a few of the major factors driving the global market share. Medical robots' segment will grow at the highest CAGR in forecast during the period, which helps in the grooming robots market study. PARO, for example, is a companion robot, developed by Dr. Seuss of Japan’s National Institute of Advanced Industrial Science and Technology. Written by Takanori Shibata. PARO is designed for patients with dementia, Alzheimer’s, and other cognitive disorders. Assistive robots help people with disabilities complete activities of daily living such as walking and eating. This assistive medical robot is also used to help patients recover from seizures and other causes of paralysis. The investments made by key market players in the development and design of innovative assistive robots for treating patients with disease conditions are key factors expected to fuel the growth of the global rehabilitation robots' market.

Outdoor Robotics Are Expected to Play a Key Role: The exoskeleton is designed to medically accelerate human energy and other abilities. The increasing number of patients with physical movement disorders, such as Parkinson's disease and stroke, are major drivers of the urgent demand for exoskeletons because these diseases inhibit voluntary body movements self-control and cause problems in daily activities. Robotic exoskeletons are emerging as rehabilitation tools to improve a variety of health-related aspects after spinal cord injury. For example, ReWalk is the first exoskeleton to receive FDA clearance for rehabilitation use in the United States. This robotic exoskeleton allows individuals with spinal cord injuries to stand upright, walk, turn and climb. Additionally, continuous technological advances to ensure that physicians have access to quality tools for proper patient care are expected to drive the market demand. In 2019, for example, Exo Bionics launched ExoNR, a robotic exoskeleton for neurorehabilitation purposes. EkSoNR enables patients recovering from trauma or other conditions to walk again naturally. It is equipped with EksoView, a touchscreen controller that allows physicians to customize aids to evaluate patients by providing real-time feedback and measuring outcomes during use

North America dominated the market in 2022, owing to high adoption of advanced technologies, relative to healthcare per capita expenditures and premiums comparable suitable systems. North America dominated the industry by 2021, accounting for the largest revenue share of 47.0%. Increasing incidence of spinal cord injuries in this segment is driving the market growth. The growing elderly population and the increasing number of people with disabilities are factors that have increased the adoption of grooming robots. According to the 2020 data sheet released by the CDC, about one in four people in the country have a disability.

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Global Rehabilitation Robots Market Size, Share, Growth Analysis, By Application(Welding & Soldering, Pick & Place), By Robot Type(SCARA, Articulated), By Industry(Electrical & Electronics, Automotive) - Industry Forecast 2024-2031

Global Rehabilitation Robots Market Insights

Global Rehabilitation Robots Market Report Snapshots

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