Major robotic rehabilitation and assistive technologies market players include ReWalk Robotics, AlterG, Inc., Bionik Laboratories Corp., Ekso Bionics, Vincent Medical, DIH Technologies Corporation (Hocoma), CYBERDYNE, INC., Kinova Inc., Rex Bionics Ltd., and Instead Technologies, Ltd.
New York, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global robotic rehabilitation and assistive technologies market size is expected to expand at ~14% CAGR from 2023 to 2033. The market is anticipated to garner a revenue of USD 8 billion by the end of 2033, up from a revenue of ~USD 2 billion in the year 2022.backed by the growing prevalence of cardiovascular disease such as coronary heart disease, stroke, and peripheral arterial disease and disabling medical conditions around the world. As chronic diseases become more prevalent, people are more likely to need interventional procedures followed by rehabilitation therapies. This high demand for rehabilitation robotics technologies is driven by the desire to have a quicker recovery and improved outcomes. Stroke is the leading cause of long-term disability in the U.S. and stroke survivors often experience physical impairments, such as weakness, paralysis, and difficulty with balance and coordination. A robotic assist device can enable individuals with disabilities to regain mobility, increase their independence, and perform activities that they would otherwise be unable to perform.
According to the Centers for Disease Control and Prevention, strokes caused 1 in 6 deaths related to cardiovascular disease in 2020. American citizens suffer strokes every 40 seconds. Every 3.5 minutes, someone dies from a stroke, and more than 795,000 people have strokes every year in the United States. Furthermore, technological advancements, such as the development of advanced robotic systems and virtual reality-based rehabilitation systems, have increased the efficiency of rehabilitation processes and improved patient outcomes.
Robotic Rehabilitation and Assistive Technologies Market: Key Takeaways
Market in the North American region is expected to experience the greatest growth
Highest growth is expected in the standalone segment
Europe is expected to grow at the fastest rate
Rapid Increase in the Number of Geriatrics Worldwide To Boost Market Growth
Global geriatric population growth and improved survival rates are expected to drive robotic rehabilitation and assistive technologies market growth during the forecast period. According to WHO estimates, from 2020 to 2050, the share of people over 60 will increase from 1 billion to 1.4 billion. The aging population is more likely to suffer from chronic conditions such as musculoskeletal and neuromuscular disorders, which require physical therapy services. Also, robotic rehabilitation is a cost-effective way to provide physical therapy services to this growing older population. Additionally, assistive technology can help to improve the quality of life of the elderly by helping them to stay independent and perform everyday tasks. Also, it was observed that one or more assistive products are needed by more than 1 billion people worldwide. The aging global population and the rise in noncommunicable diseases will require at least one assistive product for every 2 billion people by 2030, with many older people requiring multiple products. Furthermore, musculoskeletal disorders among the elderly, such as cerebral palsy, rheumatoid arthritis, and spinal cord injuries, are further anticipated to contribute to robotic rehabilitation and assistive technologies market growth. Musculoskeletal disorders (MSKDs) are one of the major causes of morbidity among the elderly population in India where more than 11% of the world's elderly live. Based on available data, MSKD is estimated to be common at about 20%, with low back pain being one of the most prevalent symptoms. Assistive technologies can help improve the functional independence of seniors who suffer from musculoskeletal problems such as arthritis, osteoporosis, and joint pain. By providing assistance with activities of daily living, such as walking and transferring from a chair to a bed, these robotic technologies can help reduce the burden of care and improve the overall quality of life for seniors.
Robotic Rehabilitation and Assistive Technologies Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Popularity of Robotics and Mobility Impairments' Need for Assistance to Fuel the Growth in the North America Region
The robotic rehabilitation and assistive technologies market in North America region is estimated to garner the largest revenue by the end of 2033 backed by the rising popularity of robotics and an increase in the need for assistance among those with mobility impairments. According to the Centers for Disease Control and Prevention, it is estimated that 13.7% of U.S. adults have mobility disabilities that make walking and climbing stairs difficult. As well, 10.8% of U.S. adults suffer from some form of cognition impairment that makes it difficult to concentrate, remember things, or make decisions. People with physical disabilities may be able to gain mobility with robotic arms and exoskeletons, robotic prostheses can help people with amputations, and robotic devices can assist with cognitive rehabilitation. These technologies are intended to reduce the impact of physical disabilities as well as make everyday tasks more convenient for people with mobility impairments. Further, collaboration with universities and centers in the field of rehabilitation technology, and the increasing prevalence of chronic diseases, such as arthritis and diabetes, among the geriatric population has resulted in a greater need for rehabilitation technology. Also, the growing healthcare industry has resulted in an increased demand for advanced rehabilitation technologies in the region, thereby driving the regional robotic rehabilitation and assistive technologies market growth.
Advances In Robotic Technology For Healthcare To Drive The Growth In The Europe Region
The robotic rehabilitation and assistive technologies market in Europe region is estimated to garner highest CAGR by the end of 2033 on account of rapid advancements in advanced robotic technologies for healthcare. For instance, in January 2022, an advanced robotic exoskeleton developed in collaboration with a leading university in the UK is being developed to assist patients with strokes during the rehabilitation process. The exoskeleton is designed to be worn over the affected part of the body, providing a lightweight and adjustable support structure. Furthermore, the growing population of people with disabilities in the region is in need of services that can assist them with their daily activities, and the development of technological infrastructure is allowing them to reach these services. Additionally, the population's inclination towards the adoption of new technologies is helping to fuel the demand for robotic rehabilitation and assistive technologies in the region.
Robotic Rehabilitation and Assistive Technologies, Segmentation by Application
Post- Surgery
Cognitive and Motor Skill Therapy
Others
The rise in the number of people seeking cognitive-behavioral therapy and the increased response rates to CBT therapy are projected to contribute to segment growth. CBT has been shown to be the most effective approach to treating depression and anxiety. It has been demonstrated that using CBT alone for depression and anxiety can result in 50%–70% improvement after 5–15 sessions. Robotic and assistive technologies are designed to help people with mental health conditions, such as anxiety and depression, by providing them with a virtual environment to practice cognitive-behavioral skills. By engaging in these activities in a safe, non-judgmental environment, people can learn to manage their symptoms more effectively. Moreover, these technologies can help improve strength, coordination, and function while also engaging and motivating the patient. Furthermore, these technologies can be tailored to each individual's needs, making them a highly personalized form of therapy. Hence, all these factors are projected to augment segment growth over the forecast period.
Robotic Rehabilitation and Assistive Technologies, Segmentation by Portability
Standalone
Mobile
The standalone segment in robotic rehabilitation and assistive technologies market is anticipated to hold the largest revenue by the end of 2033, backed by the increasing number of people with disabilities. Approximately 195 million people, (16 percent of the world's population) aged 15 and older, or more than 1.3 billion individuals, are disabled worldwide. According to the World Health Organization, there are more than 1.3 billion people worldwide with disabilities. The rising prevalence of disabilities has created a need for more sophisticated medical equipment that can provide more accurate and specialized treatments. Additionally, advancements in technology, such as stereotactic technology, have enabled more precise treatments to be provided with greater efficiency. Moreover, the reimbursement policies for standalone rehabilitation centers typically provide a higher rate for post-acute care services, which helps offset the costs associated with running the centers. Also, the effectiveness of the inpatient rehabilitation system has been proven in numerous studies, providing an incentive for people to seek treatment in a standalone setting, which in turn is projected to enhance segment growth over the forecast period.
Robotic Rehabilitation and Assistive Technologies, Segmentation by Type
Assistive Robot
Rehabilitation Robot
Few of the well-known industry leaders in the robotic rehabilitation and assistive technologies market that are profiled by Research Nester are ReWalk Robotics, AlterG, Inc., Bionik Laboratories Corp., Ekso Bionics, Vincent Medical, DIH Technologies Corporation (Hocoma), CYBERDYNE, INC., Kinova Inc., Rex Bionics Ltd., Instead Technologies, Ltd., and other key market players.
Recent Development in the Robotic Rehabilitation and Assistive Technologies Market
A top-tier robotic assisted neuro rehabilitation center has been opened at Sakra World Hospital in Karnataka, India. This is the state's first neurorehabilitation center. Sakra Rehabilitation is known for its cutting-edge rehabilitation services. In addition to inpatient and outpatient rehab, the institute also offers telerehabilitation services at home.
An in Motion Arm robotic system was purchased by Bionik Laboratories Corp. from Kinder Hospital Rehabilitation services under a multi-year agreement. The in Motion Arm robotic system is the first of its kind in the state and is designed to help those with neurological conditions to regain movement, strength and dexterity. It uses a combination of robotics, sensors, and software to help people regain movement and function by simulating life-like motions, providing feedback, and recording progress.
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