Home Vehicle Accidents Global Rehabilitation Robots Market to Grow at a CAGR of ~26% During 2022-2031; Market to Grow owing to Rising Geriatric Population, High Prevalence of Neurological Diseases, and Increasing Technological Advancements

Global Rehabilitation Robots Market to Grow at a CAGR of ~26% During 2022-2031; Market to Grow owing to Rising Geriatric Population, High Prevalence of Neurological Diseases, and Increasing Technological Advancements

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Key Companies Covered in the Global Rehabilitation Robots Market Research Report by Research Nester Are Hocoma AG, MAN&TEL Co., Ltd., CYBERDYNE Inc., Myomo Inc., ReWalk Robotics Ltd., Reha Technology AG, Motek Medical B.V., Ekso Bionics Holdings, Inc., BIONIK Laboratory Corp., ABILITY Network Inc., and other key market players.

New York, July 25, 2022 (GLOBE NEWSWIRE) — As per the World Health Organization, every year, between 250000 to 500000 people suffer with a spinal cord injury in the world (SCI) although there is no credible estimate of global prevalence, the annual global incidence is believed to be 40 to 80 cases per million people, in addition to this, every year around 6.8 million people die on account of neurological disorders.

Research Nester has published a detailed market report on ‘Global Rehabilitation Robots Market’ for the forecast period i.e. 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.

Every year around 1.71 billion people are estimated to suffer from musculoskeletal issues, with 568 million of those suffering from lower back pain, and up to 1 billion people get affected by neurological disorders. The global rehabilitation robots market is to grow at a CAGR of ~26% over the forecast period. The growth of the market can be ascribed to the surge in the use of robots in the healthcare industry, and rising prevalence of spinal cord injuries, neurological diseases, and road accidents which causes disabilities. Moreover, the rising cases of disorders which require prolonged medical rehabilitation is estimated to fuel market expansion during the forecast period. One of the studies highlighted that 1.3 million people worldwide have their lives cut short due to a road accident each year, between 20 to 50 million people experience non-fatal injuries, and many of them become disabled as a result.

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Furthermore, the rising use of automated medical devices, accompanied by a continual rise in the number of elderly people with serious disabilities across the globe is estimated to drive the market growth over the forecast period. According to a census by the UN, between 2015 and 2030, the number of people in the world who are 60 or older is expected to increase by 56%. Along with this, it is also projected that over 250 million older adults with moderate to severe disabilities make up more than 46% of the population who are 60 years of age and older. In addition to this, the rising digitalization, increasing reliance on artificial intelligence (AI), and robotics, which is being backed by significant investment in robotic automation across the globe are predicted to drive the market growth. For instance, it was estimated, that globally the cost of intelligent process automation to reach USD 10 billion in the year 2021, and in the same year the company activities involving robotic process automation (RPA) were estimated to spend around USD 5 billion.

On the basis of geographical analysis, the global rehabilitation robots market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, the market in North America region is estimated to hold the noteworthy share over the forecast period on the back of the increasing inclination of people towards sports and the rising prevalence of spinal cord injuries mainly on account of sports injuries. It was found that 19% of Americans were found to include sports and exercise in their regular routines in 2019, and sports-related activities account for about 8.7% of all new cases of spinal cord injury in the United States. In addition to this, the growing adoption of advanced technologies, increasing per capita healthcare expenditure, and availability of ample healthcare policies in the region are predicted to boost the market growth over the forecast period.

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Moreover, the market in the Asia Pacific region is estimated to become the largest market over the forecast period owing to the increasing burden of neurological diseases which are causing partial or full paralysis. It was observed that in 2019, 64.4 million people in Southeast Asia and 85 million people in western pacific regions were diagnosed with neurological disorders. Additionally, aging populations, chronic illnesses, and rising road accidents, among other factors are predicted to increase the disability rate in the region, which is estimated further drive the market growth during the forecast period. As per the statistics by UNESCAP, in the Asia-Pacific region, 1 in every 6 residents, or around 650 million people have a disability. Further, the growing healthcare sector, and rising well-being awareness among the people are predicted to give the significant boost to market growth over the forecast period.

The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

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The global rehabilitation robots market is segmented by patient type into mentally ill, disabled, pediatric, and others. Out of these, the mentally ill segment is estimated to hold a substantial market share over the forecast period owing to the increasing prevalence of neurodegenerative illnesses, mainly Parkinson’s disease (PD), requiring application of medical rehabilitation robots for neurorehabilitation. According to the data by WHO, the last 25 years, PD prevalence has doubled. According to 2019 estimates, there were approximately 8.5 million people worldwide who had PD. According to current estimates, PD caused 329,000 deaths in 2019, witnessing a rise of over 100% since 2000, and 5.8 million disability-adjusted life years, which is an increase of 81% since 2000. In addition to this, the rising elderly population, increasing stress levels among various age groups, and unhealthy lifestyles across the majority regions of the globe are expected to boost the segment growth.

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Further, the global rehabilitation robots market is segmented by end-user into hospital, orphanage, nursing home, and others. Out of these, the hospital segment is estimated to hold the largest market share over the forecast period owing to the growing use of such robots in hospitals, backed by high potential to boost therapeutic efficiency and accessibility by helping therapists to deliver regular training over extended periods of time and collecting data to measure progress. It is also possible to treat multiple patients at once with automated therapy in the hospital. Further, the increasing cases of strokes and neurological disorders lead to huge patient pool in the hospital. It was found by Centre for Disease Control and Prevention (CDC) that a stroke occurs in the United States every 40 seconds and one individual has a stroke and dies every 3.5 minutes. Ischemic strokes, in which blood flow to the brain is cut off, account for about 87% of all strokes and result in long-term disability. Between 2017 and 2018, the US spent over USD 53 billion on stroke-related treatments.

The global rehabilitation robots market is also segmented on the basis of type.

Global Rehabilitation Robots Market, Segmentation by Type

  • Assistive

  • Therapeutic

  • Surgical

  • Exoskeleton Robot

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Some of the prominent key players and their company profiling mentioned in the global rehabilitation robots market research report include Hocoma AG, MAN&TEL Co., Ltd., CYBERDYNE Inc., Myomo Inc., ReWalk Robotics Ltd., Reha Technology AG, Motek Medical B.V., Ekso Bionics Holdings, Inc., BIONIK Laboratory Corp., ABILITY Network Inc., and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.

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