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Robotic Rehabilitation and Assistive Technologies Market, Predicted to Grow at a CAGR of 12.5% from 2022 to 2031, Reaching US$ 5.5 Billion
Robotic Rehabilitation and Assistive Technologies
Surging Geriatric Population to Serve as Significant Growth Accelerator
The robotic rehabilitation and assistive technologies market will bank mostly on the back of the growing rate of the geriatric population across the globe. Assistive technologies are a must for most of the geriatric population as they are more vulnerable to disabilities. Therefore, this aspect may bring good growth for the robotic rehabilitation and assistive technologies market.
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Exoskeleton Robotics to Unlock New Opportunities of Growth
The use of exoskeleton robotics involving wearable frameworks covering the surface of limbs and hands to support the impairment may shine on the horizon of growth across the robotic rehabilitation and assistive technologies market. Exoskeletons nowadays are equipped with advanced technologies like Artificial Intelligence (AI) to provide more efficiency in the functioning of the disabled parts.
A company named Tendo AB has created soft and efficient exoskeletons using space technology to meet the needs of the individuals with decreased hand function. GenElek Technologies, a startup in India has also developed an AI-powered exoskeleton that can help the specially-abled to walk again. These developments are examples of the penetrating technological advancements in the robotic rehabilitation and assistive technologies market.
Eye Deficiency-Related Technologies may Support Growth of Robotic Rehabilitation and Assistive Technologies Market
The number of individuals with visual deficiencies is on the rise. Age-related vision problems are also a grave concern. These factors may serve as growth generators for the robotic rehabilitation and assistive technologies market.
Manufacturers in the robotic rehabilitation and assistive technologies market are concentrating on research and development activities related to hearing and visual impairments. It may serve as a new dimension of growth for the robotic rehabilitation and assistive technologies market. Omron has recently developed a robotic suitcase with Artificial Intelligence (AI) and features such as haptic interface, conversational AI, mobility service recognition, etc for assisting visually impaired people.
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North America and Europe to Serve as Growth Contributors for Robotic Rehabilitation and Assistive Technologies Market
Geographically, the robotic rehabilitation and assistive technologies market can be classified into Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. North America may serve as a prominent growth generating region for the robotic rehabilitation and assistive technologies market across the forecast period. Favorable healthcare reimbursement policies and rapidly growing geriatric population may serve as pillars of growth in the region.
Europe may also constitute a prominent share in the robotic rehabilitation and assistive technologies market. The growing adoption of robots in the healthcare sector and the escalating cases of orthopedic disorders may bring great growth opportunities. Asia Pacific may also bring good growth for the robotic rehabilitation and assistive technologies market due to the heightened focus on healthcare development and infrastructure. Swift urbanization also provides room for the key players in the robotic rehabilitation and assistive technologies market to expand its footprint in the region.
The list of key players operating in the Robotic Rehabilitation and Assistive Technologies market includes following names:
ReWalk Robotics, AlterG, Inc., Bionik Laboratories Corp., Ekso Bionics, Vincent Medical, DIH Technologies Corporation (Hocoma), CYBERDYNE, INC., Kinova, Inc., Rex Bionics Ltd., and Instead Technologies, Ltd.
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Robotic Rehabilitation and Assistive Technologies Market: Segmentation
By type
Assistive Robots
Rehabilitation Robots
By Portability
Standalone
Mobile
By Application
Post-surgery
Cognitive and Motor Skill Therapy
Others (Prosthetics, Exoskeletons, and FNS)
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Some of the key aspects that the study analyzes and sheds light are:
Which regions are witnessing rise in investments in the supply chain networks?
Which countries seems to have benefitted from recent import and export policies?
Which regions have witnessed decline in consumer demand due to economic and political upheavals?
Which are some the key geographies that are likely to emerge as lucrative markets?
Which regions are expected to lose shares due to pricing pressures?
Which regions leading players are expected to expand their footprints in the near future?
What are some the sustainability trends impacting the logistics and supply chain dynamics in the Robotic Rehabilitation and Assistive Technologies market?
What are some of the demographic and economic environments that create new demand in developing economies?
How are changing government regulations shaping business strategies and practices?
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