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Robotic Rehabilitation and Assistive Technologies Market Analysis by Application (Post-Surgery, Cognitive and Motor Skill Therapy, and Others); by Portability (Standalone and Mobile); by Type (Assistive Robot, and Rehabilitation Robot) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Sakra World Hospital – In Karnataka, India, Sakra World Hospital opened a top-tier Robotic Assisted Neuro Rehabilitation Center. It is the state’s first-ever Neuro Rehabilitation Center. Sakra Rehabilitation is a renowned facility for cutting-edge rehabilitation. The institute offers inpatient, outpatient, and home-based telerehabilitation for rehab and prehab.

  •  Bionik Laboratories -  With Kinder Hospital Rehabilitation services, Bionik Laboratories Corp. signed a multi-year contract to purchase numerous units of the company’s in Motion Arm robotic system.

Global Robotic Rehabilitation and Assistive Technologies Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~13%

Base Year Market Size (2022)

~ USD 1.9 Billion

Forecast Year Market Size (2033)

~ USD 6 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global robotic rehabilitation and assistive technologies market is estimated to garner a revenue of ~USD 6 Billion by the end of 2033 by growing at a CAGR of 13% over the forecast period, i.e., 2023-2033. Further, the market generated ~USD 1.9 billion in revenue in the year 2022. Owing to an increase in the elderly population and better survival rates from illnesses such as cerebrovascular accidents, along with the demand for physical therapy services has increased dramatically which is fueling growth in the market. According to the World Health Organization, around the world, annually 15.5 million people experience a stroke each year. About 5.5 million of them pass away and another 5 million become permanently crippled.

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Robotics are increasingly being used in rehabilitation operations, particularly to treat lower limb paralysis in stroke patients with motor impairments. Every 40 seconds, a fresh stroke occurs. The market has expanded as a result of improvements in robotic rehabilitation and assistive technology methods that have improved the target population’s quality of life. The growing usage of therapy robots for adult patients, and rising awareness regarding the robotic rehabilitation among people are creating a ton of potential. This leads to the development of the market as a result of changing needs of patients undergoing stroke therapy. For instance, the 5th leading cause of mortality and the first leading cause of disability is stroke.

Global Robotic Rehabilitation and Assistive Technologies Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Incidence of Neuromotor and Orthopedic Illnesses – Rising incidence of neuromotor and orthopedic diseases such as spinal cord injuries, rheumatoid arthritis, and cerebral palsy around the world. For instance, 58.5 million adults in the U.S. (23.7%), or 1 in 4, suffer from arthritis according to statistics from the Centers for Disease Control and Prevention (CDC).

  • Growing Number of Long-Term Care Facilities for the Geriatric – For instance, 8 out of 10 individuals worldwide may need long-term care in 2022.

  • Rising Prevalence of Cardiovascular Diseases (CVDs) – For instance, with around 18 million fatalities per year (32.5% of all deaths), CVDs are the leading cause of death worldwide.

  • Rapidly Growing Geriatric Population – The percentage of people over 60 in the world is predicted to increase to 23% in 2050 up from 13%, 7 years back.

Challenges

  • Lack of Availability and Awareness About Rehabilitation treatments in Developing Countries – Reasons, such as lack of awareness regarding the advantages of robotic rehabilitation for disabled, lack of affordability as of low income, along with the poor healthcare infrastructure are some of the factors which are estimated to negatively influencing the growth of the robotic rehabilitation and assistive technologies market in emerging nations over the forecast period.

  • Concerns about reimbursement

  • Inadequate knowledge

The global robotic rehabilitation and assistive technologies market is segmented and analyzed for demand and supply by portability into standalone and mobile. Amongst these, the standalone segment is anticipated to have a significant market share by the end of 2033. The main drivers of the segment are the rise in the prevalence of disabilities, followed by the development of new technologies such as stereotactic technology. For instance, there are more than 1 billion disabled individuals worldwide which equates to around 195 million persons (15% of the world’s population) aged 15 and older experiencing disabilities or frequently needing medical treatment. Moreover, advantageous reimbursement policies and the effectiveness of the system in-patient rehabilitation are a few other aspects projected to propel the growth of the segment.

Global Robotic Rehabilitation and Assistive Technologies Market Regional Synopsis

The North America robotic rehabilitation and assistive technologies market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. Rising chronic disease prevalence rates, a rising geriatric population, and a strong healthcare industry are expected to drive the market in North America to hold a sizable portion of the global market. For instance, the U.S. has more than 54 million adults aged 65 and older, or roughly 16.5% of the population in 2022, according to the U.S.  Census Bureau.

Market Segmentation

Our in-depth analysis of the global robotic rehabilitation and assistive technologies market includes the following segments:

     By Application

  • Post- Surgery
  • Cognitive and Motor Skill Therapy
  • Others

     By Portability

  • Standalone
  • Mobile

       By Type

  • Assistive Robot
  • Rehabilitation Robot

Top Featured Companies Dominating the Global Robotic Rehabilitation and Assistive Technologies Market

  • ReWalk Robotics

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • AlterG, Inc.
  • Bionik Laboratories Corp.
  • Ekso Bionics
  • Vincent Medical
  • DIH Technologies Corporation (Hocoma)
  • CYBERDYNE, INC.
  • Kinova Inc.
  • Rex Bionics Ltd.
  • Instead Technologies, Ltd.

 

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