Pune, India, April 08, 2021 (News) — Global Rehabilitation robots market 2021 is anticipated to gain momentum from a rise in geriatric population across the globe. According to a published report by Fortune Business Insights, titled, “Rehabilitation Robots: Global Market Analysis, Insights and Forecast, 2019-2026,” the global rehabilitation robots industry was valued at US$ 529.8 Mn in 2018 and is projected to reach US$ 2,617.3 Mn by 2026, exhibiting a CAGR of 22.1% during the forecast period.
Dr. Takanori Shibata of Japan’s National Institute of Advanced Industrial Science and Technology developed PARO, a therapeutics robot and announced the launch of the same in December 2009. PARO robot was delivered to several healthcare organizations and hospitals during the pre-marketing phase. The robot resembles a baby harp seal that helps in therapy and has been used with dementia patients, autistic children, and people with disabilities.
Key Players Operating in The Rehabilitation Robots Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Cyberdyne Inc.
- Bionik, Hocoma
- Rex Bionics Ltd.
- Ekso Bionics
- Corindus, Inc.
- ReWalk Robotics
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FDA Approvals and Product Launches to Strengthen Market Positions of Key Market Players
The global rehabilitation robots market is combined due to diverse product offerings and strong company portfolios. ReWalk Robotics, Inc., a developer of wearable robotic exoskeletons, based in the U.S., announced in June 2019 that the Food and Drug Administration (FDA) approved ReStore soft exo-suit system for sale to the rehabilitation centres in the U.S.
The system will be used to treat the stroke survivors with mobility challenges. The exo-suit is also cost-effective and functional. It can be used in the ‘Main Street’ clinics. Bionik Inc., a global pioneering healthcare company, headquartered in Canada, announced the launch of its new generation InMotion ARM/HAND robotic system in January 2019. The system will aid in the clinical rehabilitation of stroke survivors and will also be provided to those who are suffering from mobility impairments due to neurological conditions.
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Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
Growing Incidence of Spinal Cord Injuries and Strokes to Favor Growth of Therapeutics Robot Segment
The report classifies the global rehabilitation robots market on the bases of type, end user, and geography. In terms of type, the market is segmented into therapeutics robot, assistive robot, exoskeleton robot, and others. Numerous prominent market players have recently started investing huge sums of money in the design and development of assistive robots in order to treat those with chronic health conditions. This in turn, is anticipated to increase the global rehabilitation robots industry sales.
Fortune Business Insights predicts that the therapeutics robots segment will witness significant growth in the CAGR during the forecast period. This is mainly due to the rising incidence of strokes and spinal cord injuries that in turn, affect mobility of people. All these factors contribute to the global rehabilitation robot market growth in the coming years. By end user, the market is grouped into hospitals, rehabilitation centers, and others.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Technological Advancements, Key Players
- Prevalence of Key Neurology Disorders, 2018, Key Country/Region
- Key industry Developments – Mergers, Acquisitions and Partnerships
- Global Rehabilitation Robots Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Therapeutic Robots
- Exoskeleton Robots
- Assistive Robots
- Market Analysis, Insights and Forecast – By End User
- Rehabilitation Centers
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Rest of World
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