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Rehabilitation Robots Market Rise in Geriatric Population, Stroke, and Robot-Assisted Training in Rehabilitation Therapy

06-30-2021 06:53 AM CET | Health & Medicine

Press release from: The Insight Partners

Rehabilitation Robots Market

Rehabilitation Robots Market

Rehabilitation robots are used in the recuperation process of disabled patients in standing up, balancing and gait. These robots must keep up with humans and their movements; therefore, while manufacturing the machine, the makers need to ensure that it would be consistent with the patient’s progress. The rehabilitation robots market is expected to witness a significant growth in the coming years owing to the factors such as rise in geriatric population, stroke and robot-assisted training in rehabilitation therapy. However, the high cost of the devices to hinder the market growth.

The rehabilitation robots market was valued at US$ 798.92 million in 2021 and is projected to reach US$ 3,178.77 million by 2028; it is expected to grow at a CAGR of 21.8% from 2021 to 2028.

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BD, bioMerieux SA, Bio-Rad Laboratories Inc., Bionik Laboratories Corporation, Cyberdyne Inc., Ekso Bionics Holdings Inc, Rewalk Robotics Ltd, Hocoma Ag, Rehab-robotics Company Limited, Kinova Inc, Rex Bionics Ltd, Toyota Motor Corporation, and Myomo Inc are among the leading companies operating in the rehabilitation robots market.

Based on by type, the rehabilitation robots market is segmented into therapeutic robots, assistive robots, exoskeleton robots, and prosthetic robots. The exoskeleton robots segment held the largest share of the market in 2020, and it is anticipated to register the highest CAGR of 23.2% during the forecast period. Factors such as an increasing awareness about the use and benefits of rehabilitation robots in therapeutic applications because of continuous government support as well as increasing investments in product development, sales, and distributions is offering lucrative opportunities for the growth of Asia Pacific rehabilitation robots market.

There is a concern to seek adaptive strategies to continue offering neurorehabilitation services during the COVID-19 pandemic, as the people with disabilities and chronic progressive diseases require constant monitoring and care. Patients suffering from stroke or COVID-19 develop anxiety, depression, fatigue, and post-traumatic stress disorder. In addition to the physical or cognitive state, psychological health acts as an indicator of the surviving population's quality of living. Nevertheless, considering the rapid spread of COVID-19, several healthcare service providers are working on strategies to promote physical distancing and enhance healthcare procedures. Social distancing measures have been adopted worldwide; the practices have led to disruptions in supply schedule and distribution processes, and manufacturers are facing many backorders on products. Therefore, the COVID-19 -pandemic has been having a slight negative affect on the rehabilitation robot market.

Robot rehabilitation therapy is used to deliver high-intensity training for patients suffering from motor disorders caused due to diseases of spinal cord or stroke. Stroke is a top cause of severe long-term disability in the US, according to the Centers for Disease Control and Prevention (CDC). Fatigue, hemiparesis, and walking difficulty are a few effects of a stroke. Moreover, rehabilitation robots provide customized, task-oriented, prolonged, intensive, standardized, and reproducible training to patients affected by stroke or other nonprogressive brain lesions. Thus, the escalating demand for better and quicker healthcare services drive the growth of the overall rehabilitation robots market.

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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the rehabilitation robots market.

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