The Global Medical Rehabilitation Robotics Industry is on a trajectory of unprecedented growth, poised to surge at a remarkable Compound Annual Growth Rate (CAGR) of 15.2%. According to the latest findings from Future Market insights Inc. The market is anticipated to reach an impressive valuation of US$ 1.76 Billion by the close of the year 2033, a significant leap from the US$ 366.2 Million recorded in 2022.T
The pediatric rehabilitation robotics market is still in its early stages. The expansion of rehabilitation services for patients with autism and cerebral palsy is expected to propel the market forward.
The WHO states that the year 2021 witnessed 1.71 Billion people suffering from musculoskeletal disorders. The figure certainly calls for the utilization of rehabilitation robots as the devices do aid physically challenged or differently abled patients in balancing, standing up, and maintaining gait.
Medical rehabilitation robotics have innumerable benefits – like they do offer an opportunity for those contracting spinal cord injury to stand and walk at a lower metabolic cost. The market is also home to several technological advancements, like incorporating ML and AI with several advanced sensors. The exploding geriatric population is another factor contributing to the growth of the medical rehabilitation robotics market.
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Along the above-mentioned lines, PARO comes across as a companion robot that has been specially designed for those suffering from Alzheimer’s, dementia, and various other cognition disorders. Dr. Takanori Shibata from Japan’s National Institute of Advanced Industrial Science and Technology has come up with this assistive robot for helping those with disabilities fulfill daily activities like eating and walking.
The robotic lower-body exoskeleton is being used to assist the ones with paralysis of the lower limbs and does encourage muscle activity therein.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Medical Rehabilitation Robotics Market’ with its team of analysts and consultants deploying a 360-degree view in its primary, secondary, and tertiary modes of research.
“With a Spike in cases of stroke, the global medical rehabilitation robotics market is expected to go great guns shortly”, says an analyst from Future Market Insights.
Key Takeaways from the Medical Rehabilitation Robotics Market
- North America holds more than 40% of the market share due to growing incidences of spinal cord injury followed by a rising aging and disabled population.
- Europe holds a significant market share with Germany leading from the front with Spain, Denmark, and the UK leading from the front.
- The Asia-Pacific is expected to grow at a rapid pace in the medical rehabilitation robotics market with countries like Japan obtaining the status of ‘super-aging society’.
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Competitive Robotics
- Ekso Bionics Holdings, Inc. received approval from the US FDA for marketing the EksoNR robotic exoskeleton for usage with patients suffering from MS (Multiple Sclerosis).
- Tyromotion, late, completed the acquisition of band Therapy AG (a Swiss-based start-up) to encourage patients’ ownership of recovery with cutting-edge movement trackers.
- Bionik Laboratories Corporation, in January 2019, launched the InMotion ARM/HAND robotic system to clinically rehabilitate stroke survivors and the ones having mobility impairments owing to neurological conditions. The enhanced robotic system has been developed according to principles of motor learning as well as neuroplasticity and makes use of AI and data analysis for offering individualized therapy to patients.
- ReWalk Robotics, Inc., in June 2019, announced that the US FDA approved the ReStore soft exo-suit system for selling to rehabilitation centers all over the US.
- Cyberdyne Inc., in January 2018, obtained approval from the US FDA to sell HAL (Hybrid Assistive Limb) lower-body exoskeleton in licensed medical facilities all over the US.
- Stryker Corporation, in the year 2020, did receive regulatory approval for the MAKO robotic surgery system in Japan for partial knee indication.
- Accuracy, in 2020, did launch the CyberKnife S7 System, which comes across as a next-generation CyberKnife platform with real-time, advanced, AI-driven motion tracking as well as synchronization treatment delivery for SBRT (stereotactic body radiation therapy) and SRS (stereotactic radiosurgery).
- Medtronic, in 2020, completed the acquisition of Medicrea through AI, patient-specific implants, and predictive modeling.
- Intuitive Surgical, in 2019, did receive clearance from the US FDA regarding the da Vinci Single-port Surgical System.
Key Market Players:
- Ekso Bionics Holdings Inc.
- AlterG Inc.
- Bionik Laboratories Corp.
- Cyberdyne Inc.
- Rewalk Robotics.
- Instead Technoligies Ltd.
- Hocoma AG.
- Fourier Intelligence
- Tyromotion Gmbh
- Toyota Motor Corporation
- BeatBots LLC
- Bioxtreme
- Rex Bionics Inc.
- LEADERS REHAB ROBOT Co. Ltd.
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Key Segments Covered in Medical Rehabilitation Robotics Industry Research
By Product:
- Exoskeletons
- Therapeutic/ Assistive
By Extremity:
- Upper Extremity
- Arm
- Wrist
- Shoulder
- Elbow
- Lower Extremity
By Therapy:
- Limb Mobility
- Gait
- Sensory
By Patient:
- Adults
- Pediatric
By Application:
- Neurorehabilitation
- Physical Rehabilitation
- Others
By End-user:
- Hospitals
- Wellness centers
- Rehabilitation centers
- Homecare
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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