Pune, Feb. 12, 2020 (GLOBE NEWSWIRE) -- The global Rehabilitation Robots Market size is projected to reach USD 2,617.3 million by 2026, registering an impressive CAGR of 22.1% during the forecast period. Increasing number of disabled and aged people around the world will primarily the growth of this market in the near future. Rehabilitation robots are machines or devices that help people with physical disabilities to cope with their condition and empower them to move around as easily as possible. The demand for these devices is showing an upward trajectory as the prevalence of disability worldwide is rising. The World Report of Disability, jointly brought out by the World Health Organization (WHO) and the World Bank, reveals that nearly 785 million individuals aged 15 and above live with a disability. More importantly, the report states that the disabled population is expanding, mainly owing to rising geriatric population. For example, the UN’s population estimates that the world geriatric population will reach 2.1 billion by 2050. This factor, therefore, is set to emerge as one of the major Rehabilitation Robots Market trends in the approaching decade.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/rehabilitation-robots-market-101013
According to the latest Fortune Business Insights™ report, titled “Rehabilitation Robots Market Size, Share and Industry Analysis By Type (Therapeutic Robots, Exoskeleton Robots, Assistive Robots, Others), By End User (Rehabilitation Centers, Hospitals, Others), and Regional Forecast 2019-2026”, the market value stood at USD 529.8 million in 2018. The report additionally offers:
- Detailed assessment of the various market drivers and restraints;
- In-depth analysis of each individual market segment;
- Comprehensive research into the regional developments of the market; and
- Exhaustive study of the competitive landscape (key players, their profiles and strategies, and recent product launches) of the market.
Market Restraint
Prohibitive Costs of Robotic Exoskeletons May Slow Down Adoption
The WHO defines physical activity as one where body movements that result from muscle actions and increase energy expenditure. Robotic exoskeletons, a special type of rehabilitation robots, have enabled people with spinal cord injury (SCI) to move about as seamlessly as possible. However, the Rehabilitation Robots Market growth is marred by the highly prohibitive costs of these devices, according to the National Institutes of Health (NIH). The NIH also states that the pocket-heavy nature of this technology will serve as deterrent not just for patients in developing countries, but also in developed nations. Furthermore, current offerings of robotic exoskeletons are designed to carry bodyweight under 100kgs. As a result, these machines cannot be used by obese persons and since nearly 67% of people with SCI are obese, the uptake of robotic exoskeletons is likely to get severely limited, says the Rehabilitation Robots Market forecast.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/rehabilitation-robots-market-101013
Regional Analysis
North America to Occupy Dominant Position; Asia-Pacific to Grow at a Considerable CAGR
Among regions, North America is slated to dominate the Rehabilitation Robots Market share, having generated USD 396.1 million in revenue in 2018. The region’s dominance will be a result of high per capita health expenditure, supportive reimbursement scenario, and ready adoption of advanced medical technologies. Asia-Pacific will surge at a notable CAGR owing to the rising awareness about progressive disorders such as Alzheimer’s and Parkinson’s. Moreover, the region is anticipated to account for 60% of the world’s disabled population, as per UN projections, which will further augment the market during the forecast period. Evolving healthcare infrastructure in developing countries such as Mexico and Brazil will aid the expansion of the global market.
Competitive Landscape
Superior Product Offerings by Key Players to Stimulate Competition
The Rehabilitation Robots Market report finds that key players in this market are constantly engaged in developing innovative products to diversify and strengthen their product portfolio. Furthermore, novel solutions are receiving the necessary regulatory support, which is intensifying competition in this market.
Industry Developments:
- June 2019: ReWalk Robotics, the US-based assistive robotics leader, announced that the company’s ReStore soft exo-suit system got green lit by the US FDA for commercial availability in rehab centers across the US. The product is developed to be used in the treatment of stroke patients with mobility limitations. It is also the only robotic exoskeleton to get FDA nod.
- January 2020: BIONIK Laboratories Corp., the Toronto-based the rehabilitation robotics specialist, declared that its InMotion® ARM received regulatory approval in South Korea. The clearance will allow the company to commercially sell the product through its exclusive distributor, Curexo, in the country. The move would help BIONIK to establish its presence in South Korea where more than 100,000 persons suffer from stroke-related mobility challenges.
List of the Key Players Covered in the Rehabilitation Robots Market Report Include:
- Bioxtreme
- Corindus, Inc.
- ReWalk Robotics
- Ekso Bionics
- Hocoma
- Rex Bionics Ltd.
- BIONIK
- CYBERDYNE INC.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/rehabilitation-robots-market-101013
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Technological Advancements, Key Players
- Prevalence of Key Neurology Disorders, 2018, Key Country/Region
- Key industry Developments - Mergers, Acquisitions and Partnerships
- Global Rehabilitation Robots Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Therapeutic Robots
- Exoskeleton Robots
- Assistive Robots
- Others
- Market Analysis, Insights and Forecast – By End User
- Rehabilitation Centers
- Hospitals
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of World
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/rehabilitation-robots-market-101013
Have a Look at Related Reports:
Surgical Robots Market Size, Share and Global Trend By Application (General Surgery, Gynecology, Urology, Orthopedics, Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Geography Forecast till 2026
Medical Robotic Systems Market Size, Share and Global Trend By By Product (Surgical Robots, Telepresence Robots, Rehabilitation Robots), By End User (Hospitals, Ambulatory Surgery Centers, Rehabilitation Centers) & Geography Forecast till 2026
Medical Robots Market Size, Share and Global Trend By Product (Rehabilitation Robots Surgical Robot), By Application (Gynecology, Urology, Cardiology, Rehabilitation, Laparoscopy), Geography Forecast till 2026
Ophthalmic Surgical Devices Market Size, Share & Industry Analysis, By Surgery Type (Cataract Surgery Devices, Vitreoretinal Surgery Devices, Refractive Error Surgery Devices, Glaucoma Surgery Devices), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026
Cataract Surgical Devices Market Size, Share & Industry Analysis, By Product Type (Phacoemulsification Systems, Femtosecond Laser, Intraocular Lenses, Ophthalmic Viscoelastic Devices & Other Consumables), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026
Assisted Reproductive Technology (ART) Market Size, Share & Industry Analysis, By Technique (In-Vitro Fertilization (IVF), Artificial Insemination (AI-IUI), Frozen Embryo Transfer (FET), and Others), By Procedure (Fresh Donor, Fresh Non-donor, Frozen Donor, and Frozen Non-donor), By End User (Fertility Clinics, and Hospitals) and Regional Forecast, 2019-2026
Electrophysiology Devices Market Size, Share & Industry Analysis, By Type (Ablation Catheters, Diagnostic Catheters, Mapping Systems, Accessories & Others), By Application (Atrial Fibrillation, Supraventricular Tachycardia (SVT), Ventricular Tachycardia, and Others), By End User (Hospitals & ASCs, and Specialty Clinics & Diagnostic Centers), and Regional Forecast, 2019-2026
Spinal Fusion Devices Market Size, Share & Industry Analysis, By Product Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2019-2026
Spinal Devices Market Size, Share & Industry Analysis, By Product Type (Fusion Devices (Cervical Devices, Thoracolumbar Devices, and Biologics), Non-Fusion Devices (Vertebral Compression Fracture Devices, Dynamic Stabilization Devices), and Stimulation Devices) By Disease Indication (Degenerative Disc Disease, Traumas & Fractures), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release: https://www.fortunebusinessinsights.com/press-release/rehabilitation-robots-market-9196