The increasing incidence of neurological disorders and the growing geriatric population affected by chronic diseases are driving the demand for the market. Market Size – USD 2.30 billion in 2019, Market Growth – CAGR of 20.5%, Market Trends – The rise in the acceptance of assistive robotics treatment.
The Global Rehabilitation Robotics Market size was valued at USD 2.30 Billion in 2019 and is anticipated to reach USD 9.45 Billion by 2027 at a CAGR of 20.5%. The rehabilitation robotics market is expected to grow significantly during the forecast period due to the increasing incidence of individuals diagnosed with strokes, spinal cord injury, brain trauma, multiple sclerosis, Parkinson’s disease, and palsy. This, in essence, has culminated in an increase in awareness of robot-assisted therapies, which has subsequently propelled growth in this technology.
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Major Companies
Myomo Inc.
ABILITY Switzerland AG
Bionik, Inc.
Hocoma AG
AlterG, Inc.
Motek Medical B.V.
Reha Technology AG
Cyberdyne Inc.
Man&Tel Co., Ltd.
ReWalk Robotics, Ltd.
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Segments Covered in the report
Type Outlook (Revenue, USD Billion; 2017-2027)
Therapeutic
Exoskeleton
Assistive
Others
Body Part Outlook (Revenue, USD Billion; 2017-2027)
Lower Extremity
Upper Extremity
Therapy Outlook (Revenue, USD Billion; 2017-2027)
Balance
Gait
Limb Mobility
Application Outlook (Revenue, USD Billion; 2017-2027)
Neurology
Orthopedics
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Key Highlights From The Report
In June 2019, ReWalk Robotics, Ltd., received United States Food and Drug Administration (FDA) approval for the sale of its ReStore Exo-Suit, the first soft robotic system for stroke treatment across the U.S., which is expected to strengthen its presence in the North America region.
The therapeutic segment held the largest market share of 51.6% in 2019 in the rehabilitation robotics market due to the continuous growing technological developments in the therapeutic robotics system.
With the increasing prevalence of stroke and other neurological disorders such as Parkinson’s, curative treatment is expected to increase, which is expected to boost the demand for upper extremity rehabilitation.
The gait therapy segment is expected to dominate the market with a higher CAGR of 20.6% over the forecast period owing to the high incidence of neurological disabilities and the need for high-intensity therapeutic gait rehabilitation robotic systems for severely affected neurological patients.
The neurological application segment is expected to dominate the market in the forecast period due to the rising incidence of neurological conditions and the growing ageing population.
Due to the proliferation of a well-established robotic industry as well as the rising implementation of advanced assistive robotics treatment and robotic rehabilitation, the region of North America accounted for the largest market with a share of 35.4% in 2019 in the rehabilitation robotics market.
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