Rehabilitation Robots Market Value to Reach US$ 3.5 Bn by 2031, as per TMR Report

The global industry reached a valuation of US$ 788.9 million in 2022 and is forecasted to grow at a remarkable CAGR of 18.2% from 2023 to 2031, reaching US$ 3.5 billion by 2031.

The surge in brain-related disorders and physical disabilities is anticipated to be key drivers of the global rehabilitation robots market during the forecast period. Additionally, the growing elderly population and increasing trauma cases globally are expected to further fuel market expansion. Moreover, advancements in rehab robotics technology are poised to enhance the market size in the coming years.

Increased investment in research and development for advanced rehabilitation robots presents lucrative opportunities for market players. Manufacturers are prioritizing innovation, product development, and strategic partnerships to meet the escalating demand for advanced rehabilitation robotics solutions in the healthcare sector.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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A rehabilitation robot is an automated device intended to enhance mobility for individuals with impaired physical abilities. There are two primary types: assistive robots, such as wheelchair-mounted robotic arms controlled by chin switches, and therapy robots, also known as rehabilitators, which aid patients in practicing movements under the guidance of rehabilitation therapists. Rehabilitation robotics is a burgeoning field, steadily gaining traction in clinical settings.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐏𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐜𝐞 𝐨𝐟 𝐁𝐫𝐚𝐢𝐧-𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐃𝐢𝐬𝐨𝐫𝐝𝐞𝐫𝐬 𝐚𝐧𝐝 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭

The global rehabilitation robots market is driven by a rise in brain-related disorders and physical disabilities, with approximately 406 million disability-adjusted life years attributed to brain health conditions in 2021. Moreover, the prevalence of cerebral palsy affects around 17 million people worldwide, while nearly 18,000 new spinal cord injuries occur annually in the U.S. Additionally, the World Health Organization reports that around 1.3 billion people experienced significant disability in 2021, representing 16% of the global population.

Factors such as the growing geriatric population, increased trauma cases globally, and technological advancements in rehab robotics further contribute to market growth. Despite these drivers, challenges such as high device costs and limited awareness in developing countries may impede market expansion. However, investments in research and development by key players, exemplified by Hangzhou RoboCT Technology Development Co.'s US$ 15.7 million Series A+ funding round in August 2022, are expected to drive market growth during the forecast period. Overall, these factors are anticipated to bolster the global rehabilitation robotics market in the coming years.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Bionik Laboratories Corporation, Cyberdyne, Inc., Ekso Bionics Holdings, Inc., ReWalk Robotics Ltd., Hocoma AG (DIH International Ltd.), Rehab-Robotics Company Limited, Kinova, Inc., Rex Bionics Ltd., Life Science Robotics ApS, and Tyromotion GmbH

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Type

Therapeutic Robots
Exoskeleton
Assistive Robots
Others (prosthetic robots)

Patient Type

Mentally-ill
Disabled
Pediatrics
Extremity Analysis
Upper Body
Lower Body

End-user

Hospitals
Rehabilitation Centers
Others (homecare settings, senior care facilities, specialty clinics)

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In April 2023, Harmonic Bionics registered its flagship exoskeleton Harmony SHR with the FDA as a Class II 510(k)-exempt device. The company exhibited the Harmony SHR system at the American Occupational Therapy Association (AOTA) Inspire 2023 Annual Conference.

In December 2021, Sakra World Hospital launched a world class Robotic-Assisted Neuro-Rehabilitation Center in Bangalore, the first ever in Karnataka. Patients suffering from stroke, spinal cord injury with paraplegia & quadriplegia, traumatic brain injury (TBI), brain tumors, Parkinson's disease, multiple sclerosis, Guillain Barre Syndrome(GBS), etc. benefit from this advanced robot-assisted therapy.

𝐆𝐞𝐭 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐈𝐧𝐬𝐭𝐚𝐧𝐭𝐥𝐲:
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𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

The rehabilitation robots market is driven by factors such as the growing demand for personalized healthcare solutions, advancements in robotic technology, and the need for efficient rehabilitation methods. However, challenges such as high initial costs, reimbursement issues, and concerns regarding patient acceptance hinder market growth.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Notable trends in the rehabilitation robots market include the integration of artificial intelligence for personalized therapy, the development of exoskeletons for lower limb rehabilitation, and the expansion of tele-rehabilitation services to reach remote populations.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

-Evaluate market trends and growth drivers.
-Analyze the impact of technological advancements on market dynamics.
-Assess regional variations in market adoption and regulatory frameworks.
-Identify key market players and their strategies for market expansion.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐃𝐫𝐨𝐧𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/03/08/2622627/0/en/Drone-Services-Market-Sales-Estimated-to-Hit-USD-97-65-Billion-by-2031-TMR-Report.html

𝐊𝐢𝐝𝐬' 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐅𝐮𝐫𝐧𝐢𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/03/09/2624624/0/en/Kids-Storage-Furniture-Market-to-Grow-at-a-CAGR-of-6-4-during-2023-2031-TMR-Study.html

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This release was published on openPR.