Robotic Rehabilitation and Assistive Technologies Market Size & Share, by Type (Assistive, Rehabilitation Robot); Portability (Standalone, Mobile); Application (Post-Surgery, Cognitive & Motor Skill Therapy) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

Global Robotic Rehabilitation and Assistive Technologies Market Definition

Rehabilitation robots or assistive robots carry out a physical task with the assistance of a disabled person. Presently, there are two major types of rehabilitation robots, the first one is manus ARM, which is mainly a wheelchair-mounted robotic arm. Whereas, the second type of rehabilitation robotics is known as the therapy robot. Therapy robots are devices or instruments used by rehabilitation therapists to assist patients in practicing certain actions. Hence, it can be stated that robotic rehabilitation and assistive technologies are used to perform physical tasks for patients suffering from major physical disabilities.

Another type of therapy robot, known as Lokomat is available in the market to provide assistance to people living with obesity and unable to make certain movements. It is used to move legs in the walking motion over a treadmill and is beneficial for people who have suffered from spinal cord injury or any sort of stroke. One of the major issues with robotic rehabilitation and assistive technologies is that they are not cost-effective. This technology is also expanding in the field of neuroscience, where engineers are working on the implementation of computer chips directly into the brain.

Robotic rehabilitation and assistive technologies are majorly helpful for elderly people who face significant physical disabilities. Moreover, the technology also ensures a reduction in work stress on the physiotherapy staff.

Global Robotic Rehabilitation and Assistive Technologies Market: Key Insights

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

The global robotic rehabilitation and assistive technologies market is estimated to garner a revenue of ~USD 8 Billion by the end of 2033 by growing at a CAGR of ~14% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. The market is projected to grow on the back of an increase in the elderly population, and better survival rates from illnesses such as cerebrovascular accidents. Along with this, 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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Global robotic rehabilitation and assistive technologies market trends such as, increasing utilization of robotics in rehabilitation operations, particularly to treat lower limb paralysis in stroke patients with motor impairments is estimated to hike the growth of the market over the forecast period. 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 robotic rehabilitation among people are creating a ton of potential. This leads to the development of the market as a result of the 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 Orthopedic Illnesses - 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).

Orthopedic diseases include bursitis, osteoarthritis, rheumatoid arthritis, cubital tunnel syndrome, elbow pain, elbow problems, and others. These diseases can affect the musculoskeletal system, such as, nerves, bones, joints, muscles, ligaments tendons, and others, and can cause severe physical disabilities. Robotic rehabilitation and assistive technologies are helpful to provide gait rehabilitation systems and other functions of the body.

• Rising Geriatric Population – Elderly population is more prone to developing physical disabilities, and commonly, people above 70 to 90 find it difficult to move on their own. Hence, robotic rehabilitation and assistive technologies become beneficial to facilitate desired body movement. The percentage of individuals over 60 in the world will nearly double from 12 to 22% between 2015 and 2050. Additionally, it is projected that 80% of the world's old people will live in low- and middle-income countries.

• Increasing Health Spending – A considerable amount of health spending is observed to be spent on the development of advanced medical equipment to provide better healthcare services. In 2019, global health spending reached around USD 8 trillion, summing up to 10% of the GDP which was estimated to be an increase from 8% in 2000.

• Growing Number of Long-Term Care Facilities for the Geriatric – As of 2019, nearly 65,000 regulated long-term care facilities were noticed to function in the United States, providing services for approximately 8 million residents.

• Surge in the Instances 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.

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 the 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 global robotic rehabilitation and assistive technologies market in emerging nations over the forecast period.
• Concerns Associated with the Reimbursement
• Lack of Trained Professionals

Market Segmentation

The global robotic rehabilitation and assistive technologies market is segmented and analyzed for demand and supply by portability into standalone and mobile. Out of the two types of segments, the standalone segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the surge 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’s in-patient rehabilitation are a few other aspects projected to propel the growth of the segment in the market.

The global robotic rehabilitation and assistive technologies market is also segmented and analyzed for demand and supply by type into assistive and rehabilitation robots. Amongst these two segments, the assistive robot segment is expected to garner a significant share by the end of 2033. The growth of the segment is backed by the fact that these robots provide required assistance for people who are dealing with disabilities and face countless issues to perform daily activities. It was estimated that nearly 2 billion people of the global population is estimated to be living with some sort of disability.

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

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. The growth of the market can be attributed majorly to the rising chronic disease prevalence coupled escalating geriatric population, and a strong healthcare industry is expected to drive the growth of the market in North America during the forecast period. 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. Apart from that higher prevalence of cardiovascular diseases (CVDs) in the region, backed by the growth in robotic rehabilitation and assistive technologies owing to the ongoing development of robotics in North America, is projected to enlarge the market’s size during the forecast period. As of 2019, nearly 40% of the population in the USA was diagnosed with cardiovascular diseases and approximately 6 million people lost their lives owing to stroke in a similar year. Therefore, all these factors are expected to drive the growth of the market in the region during the forecast period.

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

• ReWalk Robotics Ltd.

  • Company Overview
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  • Regional Presence
  • SWOT Analysis

• AlterG, Inc.
• Bionik Laboratories Corp.
• Ekso Bionics Holdings, Inc.
• Vincent Medical Holdings Limited
• Hocoma AG
• CYBERDYNE Inc.
• Kinova inc.
• Rex Bionics Ltd
• Instead Technologies Ltd.