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Robotic Rehabilitation & Assistive Technologies Market - Forecast(2024 - 2030)
Robotic Rehabilitation & Assistive Technologies Market Overview
The Robotic Rehabilitation & Assistive Technologies Market size was estimated at $1.4 billion in 2021. Furthermore, the market is poised to grow at a CAGR
of 13.4% during the forecast period of 2022-2027. Most countries throughout the
world are experiencing an aging society as a result of developments in medical
technology, which offers new issues connected to neuromuscular disorders.
Patients with age-related illnesses like stroke and sarcopenia frequently
experience mobility issues. Rehabilitation treatment has been shown to be an
effective method for restoring muscular function lost as a result of various
diseases. These treatments are also used to treat sports-related injuries. With
recent advancements in several sectors of engineering, there is growing
interest in inventing novel procedures and gadgets including functional electrical stimulation, robotic trousers, assistive eating devices, and personal device care to aid rehabilitation
therapy. Assistive gadgets based on robotics can help to reduce the cost of
physical treatment. According to the
reports by WHO, it is believed that about 1 billion individuals are disabled.
This equates to around 15% of the global population, with up to 190 million
(3.8%) people aged 15 and older experiencing substantial difficulties in
functioning, necessitating the use of healthcare services. Because of the rise
in chronic health issues and population aging, the number of persons who are
disabled is rising.
Robotic Rehabilitation & Assistive Technologies Market Report Coverage
The report: “Robotic Rehabilitation & Assistive Technologies Market Forecast
(2022-2027)", by Industry ARC covers an in-depth analysis of the following
segments of the Robotic Rehabilitation & Assistive Technologies Market.
Key Takeaways
- The market is predicted to rise in the coming years due to the increasing acceptance of healthcare assistive robots in both developed and developing countries, as well as the various benefits supplied by the robots. The population of the Asia-Pacific area is changing dramatically. Although the time and pace of this shift vary across Asia and the Pacific, all countries in the region are aging at an unprecedented rate. North America is expected to account for a significant portion of the worldwide Robotic Rehabilitation & Assistive Technologies Market throughout the projected period. The introduction of advanced robotic rehabilitation and assistive technology is driving the region's dominance.
- According to WHO, approximately 15% of the world's population has some form of disability, with 2-4% having significant functional difficulties. The rising number of disabled people can be attributed to an aging population and the spread of chronic diseases is one of the factors driving the market growth.
- The Robotic Rehabilitation & Assistive Technologies Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Portable Medical Electronic Products Market report.
Robotic Rehabilitation & Assistive Technologies Market Segment Analysis – By Type
Robotic Rehabilitation & Assistive Technologies Market based on type are
further segmented into Surveillance and Security, Humanoid, Physical Therapy
and Rehabilitation, Assistive Robotics, and Intelligent Prosthetics. Assistive
Robotics has the largest share in 2021 and is poised to grow at a CAGR of 11.6%
during the forecast period 2022-2027. Robotics-based technologies are
increasingly being recognized as critical tools for assisting older persons
with age-related disabilities and long-term conditions to improve their quality of
life and live independently for extended periods of time. Governments all over
the world are currently dealing with a growing dilemma in the demand for
elderly assistance and a shortage of health care employees. Assistive robotic
devices are a novel way to support caregiving services and provide human-like
affection. However, there are various challenges and worries about this
technology's adoption in terms of ethics. For instance, McGill University
developed a robot that assists wheelchair-bound individuals in rising and
walking. Gait training and neuro-rehabilitation are aided by it.
However, the physical therapy & Rehabilitation segment will witness the highest growing
CAGR during the forecast period 2022-2027. Rehabilitation Robots for
physical therapy are being produced and tested and there are scientific studies
being performed on robot assisted therapy in stroke rehabilitation. The
effectiveness of robotic treatment of muscle difficulties is driving the market
growth. Rehabilitation robots are becoming increasingly useful. As technology
advances, it has become easier to perform increasingly complex combinations of
exercises.
Robotic Rehabilitation & Assistive Technologies Market Segment Analysis – By Applications
Robotic Rehabilitation & Assistive Technologies Market based on application is
segmented into Orthopedics and Sports Medicine, Stroke, Cognitive and Motor
Skills, Military Strength Training, and Post Surgery. Cognitive & Motor skills
held the largest share in the Robotic Rehabilitation & Assistive Technologies Market in 2021 growing at a CAGR of 12.7% during the forecast period 2022-2027. People
with deteriorating motor and/or cognitive skills benefit from assistive
robotics. Robotic rehabilitation is a growing and advanced method especially
for treating neurological conditions. Robots for Neuro-rehabilitation are
designed to support physical exercises in the upper or lower extremities,
with the purpose of promoting Neuro motor recovery. Robotic therapy has been
advocated as a potential strategy for upper-limb rehabilitation, with the goal
of increasing the amount and intensity of therapy while also standardizing it.
According to a new study, robotics can enhance upper limb motor function and
muscular strength after stroke, and when compared to the same amount of
traditional therapy, it is more effective.
However,
Orthopedics and Sports medicine will witness the highest CAGR during the
forecast period 2022-2027. The increasing occurrences of sports injuries, the
constant infusion of new products and treatment modalities, breakthroughs in
the field of regenerative medicine, and the rising desire for minimally invasive
operations are all driving growth in the sports medicine industry.
Robotic Rehabilitation & Assistive Technologies Market Segment Analysis – By Geography
The Robotic Rehabilitation & Assistive Technologies Market based on Geography can
be segmented into North America, South America, Europe, Asia-Pacific and Rest
of the World. The North American region dominated the Robotic Rehabilitation & Assistive Technologies Market in 2021
with a market share of 39%. The presence of favorable reimbursement scenarios in
regional economies such as Canada and the United States, as well as the rapid
and early adoption of advanced assistive and rehabilitation robotic devices,
can be attributed to the growing share of the North American Robotic Rehabilitation & Assistive Technologies Market.
However, Asia Pacific held the second-largest share in the Robotic Rehabilitation & Assistive Technologies Market in recent years, owing to rising healthcare expenditures, an aging population that is more susceptible to various types of orthopedic disorders, and increased adoption of robots and robotics in the regional medical sector.
Robotic Rehabilitation & Assistive Technologies Market Segment Market Drivers
Rising Incidence of Neurological Complications is driving market growth
The
current COVID-19 pandemic has put this strategy to the test since rigorous
physical distance requirements and a shift in hospital resource allocation
resulted in many neurological patients not receiving necessary treatment. As a
result, the majority of European healthcare professionals participating in
stroke care are afraid that this lack of care will have a significant
detrimental influence on functional outcomes, according to a recent survey. According to CDC, in 2020, 1 in 6 deaths from cardiovascular disease was due to stroke. Every 40 seconds, someone in the United States has a stroke. Every 3.5 minutes, someone dies of a stroke. Every year, more than 795,000 people in the United States have a stroke. While robot-assisted therapy is now common in clinics, the future challenge
will be to provide physically aided therapy and assessments in a decentralized
and less supervised environment. Various robotic devices
for motor rehabilitation of stroke sufferers have been developed throughout the
previous decade. These gadgets have been demonstrated to ameliorate motor
impairment and help researchers better understand the mechanisms that underpin
motor recovery after a stroke. The evaluation of robotic technology for
rehabilitation is extremely important.
Growth Rate in Geriatric Population coupled with Disabilities is boosting the market growth
The Robotic Rehabilitation & Assistive Technologies Market will primarily benefit
from the global increase in the geriatric population. The majority of the senior
population requires assistive technologies since they are more vulnerable to
disabilities. As a result, the robotic rehabilitation and assistive technology
market may benefit from this factor. According to research published in the
American Journal of Medicine, the United States' population is quickly aging.
Increases in life expectancy are predicted to double the population of those
aged 65 and up by 2040, to 81 million. The growing elderly population emphasizes
the need for assistive robots for independent living. As a result, an increase
in this population is a significant driver of the Robotic Rehabilitation & Assistive Technologies Market.
Robotic Rehabilitation & Assistive Technologies Market Segment Challenges
Digital Gap in the Elderly population is the factor impeding market growth
Reduced
cognitive capability in older people makes determining the proper usage of
robots suits one of the primary difficulties in the Robotic Rehabilitation & Assistive Technologies environment. According to NCBI, It has been reported that the prevalence of cognitive impairment is greater than 40% among elderly individuals. The digital gap, societal considerations,
and technology literacy are all elements that contribute to this limited
access.
Robotic Rehabilitation & Assistive Technologies Industry Outlook
Product launches, mergers and acquisitions,
joint ventures, and geographical expansions are key strategies adopted by
players in the Food Amino Acids Market. The top 10- Food Amino Acids Market companies
are-
- Kinova,
Inc
- Instead
Technologies Ltd
- ReWalk
Robotics
- AlterG,
Inc
- Bionik
Laboratories Corp
- Health
Robotics S.R.L
- Bioxtreme
Robotics Rehabilitation
- Mazor
Robotics Ltd.
- Incent
Medical Holdings Limited
- Cyberdyne INC
Recent Developments
- In November 2021, Inrobics Social Robotics, S.L.L., a spin-off from the Universidad Carlos III de Madrid (UC3M), has developed a robotic device that delivers a unique motor and cognitive rehabilitation service that can be utilized in health centers as well as at home. The research results from the University's Department of Computer Science and Engineering were used to construct Inrobics.
- In January 2021, Harmonic Bionics Announces Partnership with H Robotics to Bring Smart Tele-Rehab Solutions to Patients in the US Affected by Neurological and Musculoskeletal Movement Impairments.
- In October 2020, PTR Robots, a Danish service-robot company, announced the world premiere of its robot that can mobilize and transfer patients. Jointly developed with healthcare professionals, the PTR Robot is the first mobile, intelligent robot solution that can flexibly move around in the healthcare and nursing sectors.
Relevant Titles:
Report Code: HCR
37246
Report Code: HCR 46416
Complex Rehabilitation Market - Forecast(2022 - 2027)
Report Code: HCR 1215
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