Rehabilitation Robots Market
According to the Centers for Disease Control and Prevention (CDC) in 2016, around 200,000 people suffered from spinal cord injury in the U.S. and the annual incidence rate is estimated at 15-40 new cases per million populations, nearly 12,000 to 20,000 new cases in a year. All over the world increasing elderly population along with growing prevalence of conditions such as rheumatoid arthritis, spinal cord injury, dementia, cerebral palsy, and other age related disabilities are playing a major key role in driving the global market for robotic rehabilitation. The geriatric population is highly susceptible to falls and injury and thus, need constant assistance, in turn fueling growth of the rehabilitation robots market.
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Rehabilitation Robots Market
On the basis of product type, the global market is classified into:
On the basis of end-user, the global market is classified into:
According to Centers for Disease Control and Prevention (CDC), stated that approximately 52.5 million adults in the U.S. suffers from arthritis i.e. nearly 23% of the total adult population, in November 2013. This creates a highly conducive environment for growth of the global rehabilitation robots market.
High cost of rehabilitation robotic devices is one of the major factors that are limiting the market this growth, especially in countries with low and medium economy.
According to the National Spinal Cord Injury Statistical Center, 236,000-327,000 people in the U.S. suffered from serious spinal cord injuries in 2015. North America holds the largest share of the global rehabilitation robots market, both in volume and market value, and the market is attacked to grow further mainly due to major government investments, ongoing innovations and upsurge in demand for rehabilitation robots. This rise in demand will eventually push the global rehabilitation robotic market into a positive growth over the course of the forecast period. The Asia Pacific region is projected to grow at highest CAGR during the forecast period, owing to developing healthcare infrastructure and growing prevalence of chronic diseases such as cancer, stroke, arthritis, cardiac disease, orthopedic injuries, neurological problems, spinal cord injuries, and traumatic brain injuries.
Key players operating in the global rehabilitation robots market are AlterG, InMotion Robotics, Ekso Bionics, Myomo Inc., and Hocoma AG, Chatanoonga, Patterson, BioNik / Interactive Motion Technologies (IMT).
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