Robotic Rehabilitation and Assistive Technologies Market: Advanced technologies & growth opportunities in global Industry by 2024

The robotic rehabilitation and assistive technologies market accounts for rehabilitation robots and assistive technology robots. A robot is a mechanical and virtual intelligent agent that is guided by a computer program. A robot is an electromechanical machine which performs a task automatically or guided by a remote control. Robotics is the branch of technology which deals with the design, construction, operation and application of robots, while the field of research devoted to extending rehabilitation through the implementation of robotic devices is called Rehabilitation Robotics. A rehabilitation robot guides movement of a disabled person or elderly person with the intention of improving sensorimotor functions like arm, hand, leg and ankle. An assistive robot performs a task for the benefit of an elderly person or a patient with disability. These robotic devices are helpful for millions of people who desire to conquer the disability.

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Robotic Rehabilitation and Assistive Technologies Market Segmentation

The global market for robotic rehabilitation and assistive technologies, on the basis of product type, has been segmented into assistive robots, prosthetics, orthotics, therapeutic robots and exoskeleton robotic systems. The global market for robotic rehabilitation and assistive technologies is also segmented as fixed base robots and mobile robots. Fixed based robots can be placed nearby a patient for medication, feeding and other tasks. Mobile robots can be used for mobility support and for fetching or carrying. During the forecast period from 2016 to 2024, worldwide market is poised to achieve significant growth as a result of growing application of robotic devices across the rehabilitation centers and healthcare facilities offering rehabilitation to patients suffering from physical disabilities such as spinal cord injury, cerebral palsy, rheumatoid arthritis and stroke.

Robotic Rehabilitation and Assistive Technologies Market Drivers

Worldwide increasing elderly population along with growing prevalence of conditions such as spinal cord injury, cerebral palsy, rheumatoid arthritis, dementia and other age-related disabilities are playing a key role in driving the global market for robotic rehabilitation and assistive technologies. According to the Centers for Disease Control and Prevention, approximately 200,000 people are living with spinal cord injury in the U.S. and the annual incidence has been estimated at 15 to 40 new cases per million population, nearly 12,000 to 20,000 new cases in a year. The Centers for Disease Control and Prevention stated in November 2013 that approximately 52.5 million U.S. adults suffer from arthritis, nearly 23% of the total adult population. According to a U.S. based website called MyChild at CerebralPalsy.org, around 764,000 children and adults have cerebral palsy in the U.S. Of which, nearly 500,000 are aged below 18 years. Globally, the prevalence of dementia was estimated around 35.6 million in 2010 that is expected to reach approximately 65.7 million by 2030 and nearly 115.4 million in 2050. More than 50% of all people with dementia lived in developing and poor economy countries in 2010 which is expected to exceed 60% by the end of 2030. Such high prevalence of conditions is expected to drive the demand for rehabilitation robots and assistive robots across rehabilitation centers, hospitals and other healthcare centers. High cost of robotic devices is one of the major factors that is restraining the market growth, especially in countries with low and medium economy.

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In terms of geography, the global robotic rehabilitation and assistive technologies market has been categorized into four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). North America and Europe represented the first and second largest markets for robotic rehabilitation and assistive technologies in 2013. It was mainly due to well established healthcare infrastructure of these regions.

Robotic Rehabilitation and Assistive Technologies Market Key Players

Intuitive Surgical Inc., Accuray, Inc., Mazor Robotics Ltd. and Health Robotics S.R.L. are some major players of this market.

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