LONDON--(BUSINESS WIRE)--The global rehabilitation robots market is expected to grow at a CAGR of around 23% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global rehabilitation robots market for 2017-2021. The market is segmented based on product, which include upper extremity rehabilitation robots, lower extremity rehabilitation robots, therapeutic rehabilitation robots, and exoskeleton rehabilitation robots.
The global rehabilitation robots market might experience a minor decline in growth during the later years of the forecast period due to unforeseen market trends that can affect the prices or the manufacturing of the rehabilitation robotic devices. However, market trends like the growing geriatric population, growing incidences of strokes, and diseases like cerebral palsy (CP), multiple sclerosis (MS), Parkinson’s disease (PD), and spinal cord injuries will drive the need and the market for the rehabilitation robotic devices.
Technavio’s industrial automation research analysts categorize the global rehabilitation robots market into the following segments by regions:
- Americas
- EMEA
- APAC
Americas: largest rehabilitation robots market
“The key drivers for the American rehabilitation robots market are the growing awareness and market penetration for healthcare IT, increasing demand for robotic surgeries, the introduction of advanced technologies, the rising number of stroke patients, the aging population, awareness about the rehabilitation robots, high disposable income, government initiatives, and investments in medical science,” says Sushmit Chakraborty, a lead analyst at Technavio for research on robotics.
The penetration of the latest technologies like virtual reality and real-time monitoring of rehabilitation devices will make them more user and therapist-friendly. The idea of incorporating virtual games related to more task-based and therapy will be the new product line in the rehabilitation robots market.
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Rehabilitation robots market in EMEA
“The shrinking population of EMEA indicates that the average age of the population is growing at a faster rate, resulting almost every year in 1.2 million stroke patients. These patients can be efficiently treated by the rehabilitation robotic therapies or the rehabilitation robotic devices used for improving the limb functions,” says Sushmit.
Through a better understanding of an individual's need and the technical issues related to the handling of the device, it is now possible to create improved versions of the rehabilitation robotic devices. The light weight of the rehabilitation assistive robotic devices is creating the demand in the market.
Rehabilitation robots market in APAC
The lack of awareness of the rehabilitation robots leads to slow market growth in APAC. The majority of the population is still exposed to the traditional methods of therapies related to the limb movements. The development of the rehabilitation robots, related to the latest technology and development of the devices, which are convenient to use and affordable, is slow.
The major countries generating demand for rehabilitation robots are China, Japan, and Korea. The graying population and the increased number of individuals with strokes and body organ impairments are driving the market for rehabilitation robots. It is estimated that the shrinking population of APAC will lead to the growth of aged population by at least 36%, for the people more than 60 years.
The top vendors in the global rehabilitation robots market highlighted in the report are:
- AlterG
- Tyromotion
- Bionik Laboratories
- Ekso Bionics
- Hocoma
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