DUBLIN--(BUSINESS WIRE)--The "Rehabilitation Robots Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Rehabilitation Robots market is expected to register a CAGR of 25.8% over the forecast period (2019-2024).
Many people suffer from injuries that require long-term medical rehabilitation every year. The rehabilitation process is complex, with psychological and physical dimensions, and outcomes are difficult to guarantee. Thus, these robots are being developed to help people with various medical conditions on their road to recovery.
The increasing aging population and a growing number of stroke rendering people immobile are among the significant factors driving the demand from the rehabilitation robots market. Research into rehabilitation robotics is proliferating, and the number of therapeutic rehabilitation robots is also expected to expand over the forecast period. Robot rehabilitation therapy can deliver high-intensity training, thus, making it useful for patients with motor disorders caused by spinal cord disease or stroke.
As per the International Federation of Robotics, the sales of assistance robots for the elderly and disabled communities will total around 37,500 units in 2016-2019 and is expected to increase substantially over the forecast period. Companies such as Toyota are investing in developing rehabilitation robots to assist the elderly population by enabling them to live independently and to provide support for their care-givers.
Numerous hospitals have started using robotics within their rehabilitation centers. For instance, Kindred Hospital Rehabilitation Services installed Bionik Laboratories' InMotion Arm robotic system in its inpatient rehabilitation hospitals throughout the United States.
Currently, the main concern for the implementation of the rehabilitation robots in any medical center is usually the cost. However, with the depreciating prices of such devices, it is not long until robot-assisted rehabilitation will become mainstream in healthcare.
Key Market Trends
Exoskeleton Robots are Expected to Hold the Major Share
- Exoskeletons are designed to accelerate human strength and other abilities for medical purposes. An increasing number of patients with body movements disorders such as Parkinson's disease, strokes, etc. are the prime factors accelerating the exoskeleton demand as these diseases limit voluntary body movements and create problems in daily routine activities.
- Robotic exoskeletons are emerging as a rehabilitation tool to improve various health-related consequences after spinal cord injury. For instance, ReWalk is the first exoskeleton that recieved FDA clearance for rehabilitation use in the United States. This robotic exoskeleton enables individuals with spinal cord injury to stand upright, walk, turn, and climb.
- Moreover, with the ongoing technological advancements to ensure therapists have access to better tools to deliver superior patient care are anticipated to drive the demand of the market. For instance, in 2019, Ekso Bionics launched EksoNR, a robotic exoskeleton for neurorehabilitation purposes. EksoNR empowers patients recovering from a stroke or other conditions to walk again with a natural gait. It is equipped with EksoView, a touchscreen controller that lets therapists adapt assistance to challenge patients by using real-time feedback and perform outcome measures during use.
Asia-Pacific is Expected to Experience Rapid Growth
- The aging societies of the Asia-Pacific, such as Japan and China, are driving growth in the medical technology sector, thus, creating a huge market for rehabilitation robots in the region. According to the Ministry of Internal Affairs and Communications (Japan), in 2017, around 35.2 million inhabitants were aged 65 or older. This number was projected to grow to 36.2 million in 2020. This is encouraging companies to invest in products for the elderly in the region.
- Stroke is one of the leading causes of adult disabilities in China. This, in turn, has resulted in a rising awareness concerning robot-assisted treatments, driving investments in this technology. In 2018, Avicrobot (a subsidiary of the Aviation Industry Corporation of China) developed a lower-limb rehabilitative robot. The company also collaborated with Xijing Hospital (China) to develop the robot. They cooperatively launched a rehabilitative robot research center to provide data support for such robots.
- Similarly, other countries in the region are also adopting robotic devices to provide better treatment for the patients. For instance, in 2018, New Life Rehab Hospital (India) adopted robotic rehabilitation for Neuro, Ortho and Geriatric patients. They are using robotic devices that are attached to the patient to help them move their limbs in a natural manner.
The rehabilitation robot market is competitive and consists of several players. The entire market is not dominated by any particular company. The market has also attracted many startups that are working closely to design these robot technologies to increase their market presence.
- January 2019 - Bionik Laboratories Corporation launched InMotion ARM/HAND robotic system for clinical rehabilitation of stroke survivors and for people with mobility impairments due to neurological conditions. The improved robotic system is developed as per the principals of motor learning and neuro-plasticity and utilizes artificial intelligence and data analysis to offer individualized therapy to patients.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Aging Population
4.2.2 Prevalence of Medical Conditions such as Spinal Cord Injuries, Stroke, Parkinson's disease and Cerebral Palsy
4.3 Market Restraints
4.3.1 High Cost of the Devices
4.4 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Exoskeleton Robots
5.1.2 Therapeutic Robots
5.2.1 North America
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bionik Laboratories Corporation
6.1.2 Cyberdyne Inc.
6.1.3 Ekso Bionics Holdings Inc.
6.1.4 ReWalk Robotics Ltd.
6.1.5 Hocoma AG (DIH International Ltd.)
6.1.6 Rehab-Robotics Company Limited
6.1.7 Kinova Inc.
6.1.8 Rex Bionics Ltd.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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