The global rehabilitation robots market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Rising demand for rehabilitation robots which are beneficial for people with disabilities is expected to drive market revenue growth over the forecast period. Factors such as increasing global geriatric population, rising prevalence of neurological disorders, spinal cord injuries, arthritis, strokes, etc., along with technological advancements in medical equipment and devices are driving revenue growth of the market.
Market Dynamics:
Drivers:
Increasing awareness regarding the benefits of using rehabilitation robots for patients suffering from mobility issues is leading to a steady rise in demand for these products globally. Rehabilitation robots are automated machines used by patients to recover from different types of physical injuries, trauma, orthopedic injuries, etc. Rehabilitation robots are proving to be helpful among patients with arthritis, multiple sclerosis, Parkinson’s Disease and other mobility-restricting or associated conditions. Routine activities such as walking and eating can be done easily with these robots. Rehabilitation robots help patients who have suffered stroke or paralysis. Assistive robotic devices are technologically advanced, reliable, and efficient. Increasing spending on healthcare infrastructure, advancements and innovations in robotic technologies, and increasing geriatric population globally resulting in rising prevalence of various age-related and other health issues such as arthritis, neurological disorders, etc. are expected to support growth to the market going ahead. Major players operating in the market are focusing on increasing production of quality products to meet rising demand from the healthcare sector.
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Restraints:
High costs is a major factor that could hamper growth of the global rehabilitation robots market to some extent going ahead.
Market Insights:
Type Outlook:
The exoskeleton segment is expected to register fastest revenue CAGR during the forecast period. This can be attributed to exoskeletons being convenient to use and powered with advanced technology.
End Use Outlook:
The hospital segment accounted for largest revenue share among the end use segments in the global market in 2020 owing to improvement in healthcare infrastructure and advancements treatment approaches.
Region Outlook:
North America market is expected to account for a substantially large revenue share during the forecast period. Increasing demand for and adoption of rehabilitation robots among physically disabled individuals is a key factor expected to drive growth of the North America market. Technological advancements is further driving market growth due to development and launch of more advanced products with specific focus on improving quality of life and high spending parity among consumers. Asia Pacific market revenue registered a rapid CAGR in 2020, as market players are adopting different strategies to increase revenue opportunities. Improving healthcare infrastructure, rising prevalence of chronic diseases, arthritis, spinal cord injuries, and presence of major market players in countries in the region are factors attributable to rapid revenue growth of the Asia Pacific market.
Companies profiled in the market report
Major companies are expanding their business and focusing on innovative strategies, including mergers, acquisitions, partnerships, and new product development, etc. to stay ahead of the competition and generate more lucrative revenue opportunities.
Some major companies in the global rehabilitation robots market are AlterG, InMotion Robotics, Ekso Bionics, Myomo Inc., Hocoma AG, Interactive Motion Technologies, Cyberdyne Inc., Rex Bionics Ltd., Bioxtreme, Corindus, Inc., and ReWalk Robotics.
Segments covered in the report:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global rehabilitation robots market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global rehabilitation robots market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
For the purpose of this report, Reports and Data has segmented the global rehabilitation robots market on the basis of type, end use, and region:
Type Outlook (Revenue, USD Billion; 2023 – 2032)
- Therapeutic
- Exoskeleton
- Assistive
- Others
End Use Outlook (Revenue, USD Billion; 2023 – 2032)
- Hospitals
- Rehabilitation Centers
- Prosthetic Clinics
- Others
Region Outlook (Revenue, USD Billion; 2023 – 2032)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
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