Global Rehabilitation Robots Market to Reach USD 1026.2 Million by 2030, Registering a Staggering CAGR of 19.97%, Driven by Rising Prevalence of Physical Impairments, States Kings Research
DUBAI, UAE, Jan. 8, 2024 /PRNewswire/ -- As per the latest report published by Kings Research, the global Rehabilitation Robots Market size was recorded at USD 239.1 million in 2022 and is estimated to grow to USD 1026.2 million by 2030, registering a CAGR of 19.97% through the projection period of 2023-2030. As the world's population continues to grow and the field of robotics and AI advances, combined with the ongoing impact of the COVID-19 pandemic, the market for rehabilitation robots is projected to experience significant growth. The prevalence of chronic illnesses and disabilities is on the rise, leading to a higher demand for rehabilitation services. The emergence of remote therapy and monitoring due to the pandemic has underscored the importance of robots, promoting the development of tele rehabilitation technologies.
Rehabilitation robots refer to sophisticated medical equipment that aims to assist individuals in regaining or improving their physical capabilities following an injury or illness. This category of technology includes a range of robotic systems, such as exoskeletons, robotic arms, and robotic gait trainers. Although primarily used in clinical environments such as hospitals and rehabilitation centers, there is a growing trend of incorporating these devices into home-based care. Rehabilitation robots have a wide range of applications in various fields. They are instrumental in aiding patients during their recovery process after injuries, surgeries, or neurological disorders, especially in the realm of physical therapy.
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Competitive Landscape
Major players operating in the global rehabilitation robots market are focusing on acquisitions as their key strategy to expand their business. For instance, in August 2023, ReWalk Robotics acquired AlterG to expand its business and speed up ReWalk's journey towards becoming profitable. This purchase united ReWalk's knowledge of robotic exoskeletons with AlterG's groundbreaking anti-gravity treadmill technology, enabling the merged company to provide a wide range of rehabilitation solutions in its portfolio.
Major players in the global rehabilitation robots market include:
- Bionik Laboratories Corporation
- Ekso Bionics
- ReWalk Robotics
- Rex Bionics Ltd.
- Corindus, Inc.
- Hocoma AG
- Bioxtreme
- Rehab-Robotics Company Limited
- Cyberdyne Inc.
- DIH Medical
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Trending Now: New Wearable Robot Transforms Personalized Post-Stroke Mobility Rehabilitation
In November 2023, researchers at Hong Kong Polytechnic University (PolyU) created a specialized rehabilitation robot called the mobile ankle-foot exoneuromusculoskeleton. This robotic device has been devised for stroke patients who have hemiplegia, which is characterized by paralysis on one side of the body. These individuals typically experience muscle weakness and lack of coordination in the affected lower limb.
PolyU's mobile ankle-foot exoneuromusculoskeleton is a specialized rehab robot for stroke patients with hemiplegia, addressing muscle weakness and coordination issues. It automatically identifies walking forms and offers mechanical support for stable standing, aided by vibration feedback and neuromuscular electrical stimulation. With a rechargeable battery, it runs for four hours and integrates IoT for progress tracking via a companion app. The device supports telerehabilitation, facilitating remote monitoring and mutual patient support. Clinical studies reveal a 40% improvement in stroke rehabilitation effectiveness compared to external mechanical forces alone, showcasing its potential impact on patient outcomes.
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The global Rehabilitation Robots Market is segmented as:
By Application Site
- Upper Body
- Lower Body
Surging Occurrences of Lower Body Impairments to Aid Market Development
On the basis of application site, the lower body segment led the global rehabilitation robots market in 2022 and is likely to grow significantly in the forthcoming years. This growth can be attributed to various factors such as the increasing occurrence of lower body impairments, a growing elderly population, and a rise in the number of individuals with paralysis. Consequently, there has been a surge in the acceptance, reach, and expansion of the segment. Robotic lower-body exoskeletons have proven to be advantageous in aiding individuals with lower limb paralysis, including frail elderly individuals, as well as those affected by conditions such as multiple sclerosis and strokes. These exoskeletons not only provide assistance but also stimulate muscle activity in the lower body.
By End-User
- Rehabilitation Centers
- Hospitals
- Others
Seamless Adoption of Advanced Technologies in Healthcare Settings to Boost Rehabilitation Robots Market Revenue
On the basis of end-user, in 2022, the hospitals segment contributed to the largest market share and is expected to grow substantially over 2023-2030. This can be mainly attributed to the rise in healthcare expenditure and the seamless adoption of cutting-edge technologies in healthcare institutions. Furthermore, a substantial portion of the population struggling with musculoskeletal disorders, spinal cord injuries, and related ailments opt for rehabilitation services provided by hospitals, thereby propelling the growth of this particular segment.
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Rising Prevalence of Physical Impairments to Drive Rehabilitation Robots Market Growth
The rise in the prevalence of long-term illnesses and physical impairments is a significant factor driving the demand for rehabilitation robots. With the aging of the world population, there is an increasing population of individuals who are dealing with conditions such as stroke, spinal cord injuries, and progressive diseases that necessitate rehabilitation. Robotic rehabilitation systems provide an efficient approach to accelerate the recovery process of patients and enhance their overall well-being.
Expanding the utilization of rehabilitation robots in in-home care holds considerable commercial promise. Although these robots are primarily used in hospitals, the advent of tele rehabilitation has resulted in a rising trend of providing rehabilitation services directly to patients in their own homes. This transition enables patients to undergo therapy in a more comfortable and convenient setting, potentially leading to a reduction in healthcare expenses.
North America to Lead Rehabilitation Robots Market Due to Robust Healthcare Infrastructure
North America dominated the global market in 2022 and is anticipated to witness considerable growth over the forecast period due to its strong healthcare infrastructure, growing healthcare expenditures, and aging population. Advancements in robotics and healthcare technology were backed by the presence of leading companies and academic institutions in the region. The United States, specifically, has benefited from favorable reimbursement policies and regulatory frameworks, enabling the seamless integration of these advanced medical devices.
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Key Points from TOC:
Chapter 1 Introduction of The Global Rehabilitation Robots Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Rehabilitation Robots Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Rehabilitation Robots Market, By Type
Chapter 7 Global Rehabilitation Robots Market, By Application Site
Chapter 8 Global Rehabilitation Robots Market, By End-User
Chapter 9 Global Rehabilitation Robots Market, By Geography
Chapter 10 North America
Chapter 11 Europe
Chapter 12 Asia-Pacific
Chapter 13 Middle East & Africa
Chapter 14 Latin America
Chapter 15 Global Rehabilitation Robots Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
Chapter 16 Company Profiles
16.1 Bionik Laboratories Corporation
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Ekso Bionics
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 ReWalk Robotics
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 Rex Bionics Ltd.
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 Corindus, Inc.
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
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