The Global Medical Rehabilitation Robotics Industry is on the verge of unprecedented expansion, according to industry reports. With a remarkable compound annual growth rate (CAGR) of 15.2%, the market is projected to achieve a valuation of US$ 1.76 billion by the year 2033, soaring from its 2022 valuation of US$ 366.2 million.
This extraordinary growth can be attributed to several factors, including technological advancements and the increasing prevalence of musculoskeletal disorders. The World Health Organization (WHO) reported that in 2021, approximately 1.71 billion people worldwide suffered from musculoskeletal disorders, highlighting the urgent need for innovative solutions in the field of medical rehabilitation.
Medical rehabilitation robotics have innumerable benefits – like they do offer an opportunity to those contracting spinal cord injury to stand and walk at a lower metabolic cost. The market is also home to several technological advancements, like incorporating ML and AI with several advanced sensors. The exploding geriatric population is another factor contributing to the growth of the Global Medical Rehabilitation Robotics Industry.
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Along the above-mentioned lines, PARO comes across as companion robot that has been specially designed for those suffering from Alzheimer’s, dementia, and various other cognition disorders. Dr. Takanori Shibata from Japan’s National Institute of Advanced Industrial Science and Technology has come up with this assistive robot for helping those with disabilities fulfil daily activities like eating and walking.
Robotic lower-body exoskeleton is being used to assist the ones with paralysis of the lower limbs and does encourage muscle activity therein.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Global Medical Rehabilitation Robotics Industry ’ with its team of analysts and consultants deploying a 360-degree view in its primary, secondary, and tertiary modes of research.
“With Spike in cases of stroke, the Global Medical Rehabilitation Robotics Industry is expected to go great guns in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Global Medical Rehabilitation Robotics Industry
- North America holds more than 40% of the market share due to growing incidences of spinal cord injury followed by rising aging and disabled population.
- Europe holds a significant market share with Germany leading from the front with Spain, Denmark, and the UK leading from the front.
- The Asia-Pacific is expected to grow at a rapid pace in the Global Medical Rehabilitation Robotics Industry with countries like Japan obtaining the status of ‘super-aging society’.
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Competitive Robotics
- Ekso Bionics Holdings, Inc. received approval from the US FDA for marketing the EksoNR robotic exoskeleton for usage with patients suffering from MS (Multiple Sclerosis).
- Tyromotion, of late, completed acquisition of yband therapy AG (a Swiss-based start-up) for encouraging patients’ ownership of recovery with cutting-edge movement trackers.
- Bionik Laboratories Corporation, in January 2019, did launch InMotion ARM/HAND robotic system to clinically rehabilitate stroke survivors and the ones having mobility impairments owing to neurological conditions. The enhanced robotic system has been developed according to principles of motor learning as well as neuro-plasticity and makes use of AI and data analysis for offering individualized therapy to the patients.
- ReWalk Robotics, Inc., in June 2019, did announce that the US FDA approved the ReStore soft exo-suit system for selling to the rehabilitation centers all over the US.
- Cyberdyne Inc., in January 2018, obtained approval from the US FDA to sell HAL (Hybrid Assistive Limb) lower-body exoskeleton in the licensed medical facilities all over the US.
- Stryker Corporation, in the year 2020, did receive regulatory approval for MAKO robotic surgery system in Japan for partial knee indication.
- Accuray, in 2020, did launch CyberKnife S7 System, which comes across as a next-generation CyberKnife platform with real-time, advanced, AI-driven motion tracking as well as synchronization treatment delivery for SBRT (stereotactic body radiation therapy) and SRS (stereotactic radiosurgery).
- Medtronic, in 2020, completed acquisition of Medicrea through AI, patient specific implants, and predictive modeling.
- Intuitive Surgical, in 2019, did receive clearance from the US FDA regarding da Vinci Single-port Surgical System.
Key Market Players:
- Ekso Bionics Holdings Inc.
- AlterG Inc.
- Bionik Laboratories Corp.
- Cyberdyne Inc.
- Rewalk Robotics.
- Instead Technoligies Ltd.
- Hocoma AG.
- Fourier Intelligene
- Tyromotion Gmbh
- Toyota Motor Corporation
- BeatBots LLC
- Bioxtreme
- Rex Bionics Inc.
- LEADERS REHAB ROBOT Co. Ltd.
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Key Segments Covered in Global Medical Rehabilitation Robotics Industry Research
By Product:
- Exoskeletons
- Therapeutic/ Assistive
By Extremity:
- Upper Extremity
- Arm
- Wrist
- Shoulder
- Elbow
- Lower Extremity
By Therapy:
- Limb Mobility
- Gait
- Sensory
By Patient:
- Adults
- Pediatric
By Application:
- Neurorehabilitation
- Physical Rehabilitation
- Others
By End user:
- Hospitals
- Wellness centers
- Rehabilitation centers
- Homecare
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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