As per a recent market analysis by Future Market Insights (FMI), the global medical rehabilitation robotics market was valued at over US$ 264.0 Mn in 2020 and is projected to expand at a stupendous 15.9% CAGR over the forecast period.
Increasing development of robotic products and devices that have the ability to perform a wide array of tasks is propelling sales in the market. Surgical robots are developed for the purpose of assisting surgeons in operating on a varied range of procedures, which in turn is improving patient outcomes.
The designing and development of automated robotic models for rehabilitation and assistive services and applications have led to an advancement in disease recovery term. Rising awareness regarding the use of medical rehabilitation robotics for patients with disabilities, as well as for cognitive and behavioral disorders is spurring demand in the market.
The growth in rehabilitation therapy and integrated robotics has increased research and development activities associated with their applications in home-based settings. In comparison with clinical therapy, home therapy has the potential to augment standard care and enable a consistent treatment regime by increasing the frequency and duration of training sessions.
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Carrying out rehabilitation services at home offers convenience and comfort. Growing preference for affordable, convenient, and time-saving robotic devices over other therapy devices in hospitals settings is expected to augment the growth of the market.
The development of medical rehabilitation robotics market is reliant on increasing healthcare spending, rising research and development activities, larger government-backed funding, and rising initiatives to promote the utility of rehabilitation robots
Key Takeaways:
- Based on product type, demand in the therapeutic/assistive products is expected to account for 71.8% of the total market share in 2031, growing at a 15.4% CAGR.
- In terms of extremity, the upper extremity segment is expected to hold 54.8%of the total market share by 2031.
- Sales in the limb motility segment are projected to grow at a 15.9% CAGR through 2031.
- In terms of patient type, the adults segment held 86.9% of the total market share in 2020, and the trend is expected to continue over the forecast period.
- Applications in the neurorehabilitation segment are projected to account for a substantial share in the global medical rehabilitation robotics market.
- Rehabilitation centers held the largest value share of 47.7% in 2020. However, hospitals are expected to account for 36.9% of the total market share by 2031.
Competition Landscape
Leading players operating in the market are investing in acquisitions, mergers, expansion, and the development of an extensive clinical pipeline to improve sales in the market. Besides this, players are expandingtheir product portfolios to increase their consumer base.
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