Rehabilitation Robots Market to Incur Meteoric Growth During 2022-2028 | AlterG, InMotion Robotics, Ekso Bionics, Myomo Inc.

Rehabilitation Robots Market Continues To Grow With Increasing Cases of Neurological Conditions Such As Stroke and Spinal Cord Injury

Overview:

The development of rehabilitation robots is booming, and the market for such technology is growing rapidly. Rehabilitation robots improve sensorimotor function in lower limbs through standardized training and individual adaptation. While wearable and grounded exoskeletons offer similar benefits, their suitability depends on the individual's impairment and recovery phase. It should also support physical therapy. Several factors need to be considered when designing such robots. However, some important factors must be considered before making a final decision on which robot to use. The technology should be accurate enough to assist patients with their exercises. This way, therapists can evaluate whether their exercises have helped patients or if they're not seeing any improvement.

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Market Dynamics:

The global geriatric populations increasing and the number of individuals suffering from stroke is also rising all over the world. This in turn is expected to augment growth of the global rehabilitation robots market over the forecast period. For instance, according to the UN World Population Aging statistics, the number of people with 80 years or over age is expected to grow between 2017 and 2050 from 137 million to 425 million.

However, high cost of these rehabilitation robotic devices is anticipated to hinder growth of the global rehabilitation robots market over the forecast period.

Impact of COVID-19:

Several industries witnessed severe impact of COVID-19 pandemic. The outbreak of virus in China led to its spread across more than 100 countries all over the world. Following the virus outbreak many countries implemented stringent lockdown regulations. This further affected several market activities including manufacturing, supply, and distribution. Due to disrupted market activities, the manufacturing of rehabilitation robots also declined and the demand for these products reduced. Thus, the global rehabilitation robots market witnessed negative impact of the pandemic. However, as the lockdown situation goes to normal with declining cases of COVID-19, the market is likely to regain growth.

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Key Takeaways:

• The global rehabilitation robots market is estimated to grow over the forecast period due to growing cases of diseases such as multiple sclerosis, spinal cord injury and cerebral palsy. For instance, according to the National Spinal Cord Injury Statistics Center, the nearly 17, 810 people suffer spinal cord injury each year in the U.S.

• Europe is expected to witness robust growth in the global rehabilitation robots market over the forecast period. This growth can be attributed to rising geriatric population and age-related neurological diseases such as Parkinson's disease in the region.

• Major players active in the global rehabilitation robots market are Interactive Motion Technologies (BioNik), AlterG, Patterson, InMotion Robotics, Chatanoonga, Ekso Bionics, Hocoma AG, and Myomo Inc.

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This release was published on openPR.