SAN FRANCISCO , March 22, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Rehabilitation Robots – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 10; Released: February 2022
Executive Engagements: 397
Companies: 100 – Players covered include 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 and Others.
Coverage: All major geographies and key segments
Segments: Product (Upper Extremity, Lower Extremity, Full-Body Exoskeletons, Therapeutic); End-Use (Rehabilitation Centers, Hospitals, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Rehabilitation Robots Market to Reach $1.8 Billion by 2026
Rehabilitation robotics involves use of robotic devices to improve rehabilitative efforts as well as taking care of the disabled, elderly, infirm and paralyzed patients. The use of robots allows patients with limited mobility to move around, thereby providing autonomy and independence. 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.
Amid the COVID-19 crisis, the global market for Rehabilitation Robots estimated at US$762.8 Million in the year 2022, 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. 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 $304.5 Million in 2022, While China is Forecast to Reach $268.7 Million by 2026
The Rehabilitation Robots market in the U.S. is estimated at US$304.5 Million in the year 2022. 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
Rising life expectancies and upping demand for self-reliance in aging and disabled population are boosting investments in robotic assistance technology and allied services across the world. Efforts are being made to bring exoskeletons under the ambit of medical devices essential for therapeutic interventions in patients with chronic ailments. With exoskeletons being gradually accepted as medical devices, health insurance is slated to cover the high costs that were deterring market adoption of robotic assistance, thereby, spurring demand. 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. 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. More
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