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Unveiling Market Insights: Comprehensive Analysis of the Rehabilitation Robotics Industry || Myomo Inc., Bionik Laboratories Corporation, Hocoma AG
Rehabilitation Robotics Market
The Business Research Company's Rehabilitation Robotics Global Market Report 2023 the rising instances of strokes, injuries, and neurological diseases is the major driver for the rehabilitation robotics market's growth in the forecast period. For instance, according to the world Health Organization (WHO), a Switzerland-based health agency of the united nations, in 2022, 50 million people globally were suffering from epilepsy, nearly 80% of them were living in low and middle-income countries. Hence, the rising instances of strokes, and neurological diseases is predicted to hike the demand for rehabilitation devices including rehabilitation robots.
The global rehabilitation robotics market size grew from $0.97 billion in 2022 to $1.18 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rehabilitation robotics market size is expected to grow to $2.56 billion in 2027 at a CAGR of 21.4%.
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Major competitors in the rehabilitation robotics market are Myomo Inc., Bionik Laboratories Corporation, Hocoma AG, Cyberdyne Inc., ReWalk Robotics Ltd., Ekso Bionics, Rex Bionics Ltd., AlterG Inc., RU Robots, Woodway.
A key trend in the rehabilitation robotics market includes rapid adoption of assistive robotics for faster and more effective treatment. The adoption of assistive robots in the medical field is rising, for a faster and more effective treatment process and thus companies are investing more in new product development to meet the demand. For instance, In January 2022, Labrador Systems, Inc., a US-based early-stage robotics company specializing in assistive robots, introduced the Labrador Retriever. Labrador Retriever is a personal robot that helps people live more independently by offering useful, hands-on assistance with daily tasks around the house. The robot serves as an extra set of hands, assisting people in carrying heavy loads and bringing necessary objects to close at hand.
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The rehabilitation robotics market is segmented -
• By Type: Exoskeleton Robots, Therapeutic Robots, Assistive Robots, Prosthetic Robots
• By Patient Type: Adult, Pediatrics
• By Part: Lower Extremity, Upper Extremity
• By Application: Gait Therapy, Limb Mobility
• By End User: Rehabilitation Centers, Hospitals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the rehabilitation robotics market.
The Business Research Company's "Global Rehabilitation Robotics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Rehabilitation Robotics Market Include:
1. Executive Summary
2. Rehabilitation Robotics Market Characteristics
3. Rehabilitation Robotics Market Trends And Strategies
4. Rehabilitation Robotics Market - Macro Economic Scenario
5. Rehabilitation Robotics Market Size And Growth
……………
27. Rehabilitation Robotics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Rehabilitation Robotics Market
29. Rehabilitation Robotics Market Future Outlook And Potential Analysis
30. Appendix
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Robotics is the branch of technology that deals with designing, construction, operation, and application of robots. The field of research dedicated to extending rehabilitation through the deployment of robotic devices is called rehabilitation robotics. The purpose of rehabilitation is to repair some or all of the patient's physical, sensory, and mental abilities lost due to injury, illness, or disease. Rehabilitation includes supporting the patient to reimburse for deficits that cannot…
