Wilmington, Delaware, United States, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. The global rehabilitation robots market is projected to flourish at a CAGR of 18.2% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 3.5 billion is anticipated for the market in 2031. As of 2023, the market for rehabilitation robots is expected to close at US$ 932.4 million.
The main factor bolstering the growth of the rehabilitation robots market is the increased prevalence of brain-related disorders and the increase in the number of patients with physical disabilities.
Increased prevalence of age-related conditions such as stroke, spinal cord injuries, and neurological disorders, in the aging population boosts the market demand for rehabilitation robots, as robots provide targeted and intensive therapy to assist in the recovery process for these conditions.
Increasing demand for personalized treatment approaches that cater to their specific rehabilitation needs. Rehabilitation robots can provide more intensive and targeted therapy, leading to improved patient outcomes, faster recovery, and reduced complications, which is likely to propel market growth.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 788.9 Mn | |
| Estimated Value | US$ 3.5 Bn | |
| Growth Rate - CAGR | 18.2% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 150 Pages | |
| Market Segmentation | Type, Patient Type, Extremity Analysis, End-user | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Bionik Laboratories Corporation,Cyberdyne, Inc.,Ekso Bionics Holdings, Inc.,ReWalk Robotics Ltd.,Hocoma AG (DIH International Ltd.),Rehab-Robotics Company Limited,Kinova, Inc.,Rex Bionics Ltd.,Hocoma AG (DIH International Ltd.),Life Science Robotics ApS,Tyromotion GmbH | |
Key Takeaways from the Market Study
- As of 2022, the rehabilitation robots market was valued at US$ 788.9 million
- By type, the exoskeleton segment accounted for the largest global rehabilitation robots market share in 2022- 2031
- Based on extremity analysis, the upper body segment is projected to dominate the global rehabilitation robots market during the forecast period due to the advantages of using and implementing robotic technologies for the upper body.
- In terms of end-user, the hospitals segment accounted for the leading market share of the market. The rapid adoption of cutting-edge technology in healthcare institutions and the rise in healthcare costs are driving the hospital segment.
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Rehabilitation Robots Market: Key Trends and Opportunistic Frontiers
- Increased awareness among patients and healthcare providers about the benefits of rehabilitation robots is driving their adoption.
- Increasing prevalence of paralysis, spinal cord damage, and stroke and the increase in the usage of exoskeletons in medical treatment are propelling the market growth
- Technological advancements in robotics and artificial intelligence have led to the development of more sophisticated and adaptable rehabilitation robots. AI-enabled robots can customize therapy sessions based on patient progress and individual needs.
Rehabilitation Robots Market- Regional Analysis
- North America accounted for the largest market share in the rehabilitation robots market owing to the rise in the prevalence of spinal cord injury is driving the market in the region. Increased research and development in robotics and healthcare, contributing to the adoption of rehabilitation robots. The increasing aging population in North America drives the demand for rehabilitation solutions to address age-related conditions.
- Asia Pacific is expected to experience robust growth in rehabilitation robots during the forecast period. Increasing healthcare spending in countries like China and Japan and growing adoption of advanced medical technologies drive the market demand in the region.
Competitive Landscape
The global rehabilitation robots market is consolidated, with the presence of a few market players. Most companies are making significant investments in research & development activities. Transparency Market Research has profiled the following players in its global rehabilitation robots market report
- Bionik Laboratories Corporation
- Cyberdyne, Inc.
- Ekso Bionics Holdings, Inc.
- ReWalk Robotics Ltd.
- Hocoma AG (DIH International Ltd.)
- Rehab-Robotics Company Limited
- Kinova, Inc.
- Rex Bionics Ltd.
- Hocoma AG (DIH International Ltd.)
- Life Science Robotics ApS
- Tyromotion GmbH
Key Developments in the Rehabilitation Robots Market
- In June 2023 - Bionik Laboratories Corp., offering its technology to therapists directly and services to patients in its clinical centers, continues to grow its partnership with Lifepoint Health, announcing today its four new installations of the InMotion® ARM robotic device in Phoenix, Arizona, Sacramento, California, Brownsburg, Indiana, and Louisville, Kentucky, to deliver quality stroke recovery care.
- In December 2022 - Ekso Bionics announced the acquisition of the Human Motion and Control (“HMC”) Business Unit. The acquisition includes the Indego lower limb exoskeleton line of products as well as the planned development of robotic-assisted orthotic and prosthetic devices.
- Bionik Laboratories Corp. investing in the development of innovative robotic rehabilitation solutions for upper and lower limb therapy with a focus on AI and machine learning integration to tailor therapy plans for individual patients.
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Rehabilitation Robots Market – Key Segments
Type
- Therapeutic Robots
- Exoskeleton
- Assistive Robots
- Others (prosthetic robots)
Patient Type
- Mentally-ill
- Disabled
- Pediatrics
Extremity Analysis
- Upper Body
- Lower Body
End-user
- Hospitals
- Rehabilitation Centers
- Others (homecare settings, senior care facilities, specialty clinics)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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