Medical Rehabilitation Robotics Market Gears Up for 15.2% CAGR, Reaching US$1.76 Billion by 2033 | FMI Study

Medical Rehabilitation Robotics Market

The Medical Rehabilitation Robotics Market is poised for a significant transformation, fueled by continuous advancements in technology and a growing demand for innovative solutions in physical therapy. According to a recent market analysis by Future Market Insights (FMI), a leading market research firm, the market is currently valued at US$366.2 million in 2022. However, it is projected to experience a robust Compound Annual Growth Rate (CAGR) of 15.2% over the next decade. This positive trajectory is expected to propel the market to reach an impressive US$1.76 billion by 2033.

In combination with this expansion, the Pediatrics Rehabilitation Robotics Market, while still in its early phases, promises a promising future. The expansion of rehabilitation services for patients with diseases like autism and cerebral palsy is projected to be a key driver of market growth.

One of the highlights of medical rehabilitation robotics is its myriad of benefits, particularly in affording individuals with spinal cord injuries the opportunity to stand and walk at a reduced metabolic cost. Moreover, this industry is at the forefront of technological advancements, incorporating Machine Learning (ML) and Artificial Intelligence (AI) alongside advanced sensor technologies. The burgeoning geriatric population further propels the exponential growth of the medical rehabilitation robotics industry.

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Along the above-mentioned lines, PARO comes across as a companion robot that has been specially designed for those suffering from Alzheimer’s, dementia, and various other cognition disorders. Dr. Takanori Shibata from Japan’s National Institute of Advanced Industrial Science and Technology has come up with this assistive robot for helping those with disabilities fulfill daily activities like eating and walking. The robotic lower-body exoskeleton is being used to assist the ones with paralysis of the lower limbs and does encourage muscle activity therein.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Medical Rehabilitation Robotics Market’ with its team of analysts and consultants deploying a 360-degree view in its primary, secondary, and tertiary modes of research.

“With Spike in cases of stroke, the global medical rehabilitation robotics industry is expected to go great guns shortly”, says an analyst from Future Market Insights.

Key Takeaways from the Medical Rehabilitation Robotics Market

• North America holds more than 40% of the market share due to growing incidences of spinal cord injury followed by a rising aging and disabled population.
• Europe holds a significant market share with Germany leading from the front with Spain, Denmark, and the UK leading from the front.
• The Asia-Pacific is expected to grow at a rapid pace in the medical rehabilitation robotics industry with countries like Japan obtaining the status of ‘super-aging society’.

Competitive Robotics

• Ekso Bionics Holdings, Inc. received approval from the US FDA for marketing the EksoNR robotic exoskeleton for usage with patients suffering from MS (Multiple Sclerosis).
• Tyromotion, late, completed the acquisition of Band Therapy AG (a Swiss-based start-up) to encourage patients’ ownership of recovery with cutting-edge movement trackers.
• Bionik Laboratories Corporation, in January 2019, launched the InMotion ARM/HAND robotic system to clinically rehabilitate stroke survivors and the ones having mobility impairments owing to neurological conditions. The enhanced robotic system has been developed according to principles of motor learning as well as neuroplasticity and makes use of AI and data analysis for offering individualized therapy to patients.
• ReWalk Robotics, Inc., in June 2019, announced that the US FDA approved the ReStore soft exo-suit system for selling to rehabilitation centers all over the US.
• Cyberdyne Inc., in January 2018, obtained approval from the US FDA to sell HAL (Hybrid Assistive Limb) lower-body exoskeleton in licensed medical facilities all over the US.
• Stryker Corporation, in the year 2020, did receive regulatory approval for the MAKO robotic surgery system in Japan for partial knee indication.
• Accuracy, in 2020, did launch the CyberKnife S7 System, which comes across as a next-generation CyberKnife platform with real-time, advanced, AI-driven motion tracking as well as synchronization treatment delivery for SBRT (stereotactic body radiation therapy) and SRS (stereotactic radiosurgery).
• Medtronic, in 2020, completed the acquisition of Medicrea through AI, patient-specific implants, and predictive modeling.
• Intuitive Surgical, in 2019, did receive clearance from the US FDA regarding the da Vinci Single-port Surgical System.

Key Medical Rehabilitation Robotics Market Players: 

• Ekso Bionics Holdings Inc.
• AlterG Inc.
• Bionik Laboratories Corp.
• Cyberdyne Inc.
• Rewalk Robotics.
• Instead Technoligies Ltd.
• Hocoma AG.
• Fourier Intelligence
• Tyromotion Gmbh
• Toyota Motor Corporation
• BeatBots LLC
• Bioxtreme
• Rex Bionics Inc.
• LEADERS REHAB ROBOT Co. Ltd.

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Key Segments Covered in Medical Rehabilitation Robotics Market Research

By Product:

• Exoskeletons
• Therapeutic/ Assistive

By Extremity:

• Upper Extremity
  • Arm
  • Wrist
  • Shoulder
  • Elbow
• Lower Extremity

By Therapy:

• Limb Mobility
• Gait
• Sensory

By Patient:

• Adults
• Pediatric

By Application:

• Neurorehabilitation
• Physical Rehabilitation
• Others

By End-user:

• Hospitals
• Wellness centers
• Rehabilitation centers
• Homecare

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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