The global medical rehabilitation robotics industry is projected to experience tremendous boom at a compound annual growth rate (CAGR) of 15.2%. The market value is expected to reach $1.76 billion by 2033, a significant increase from the $366.2 million recorded in 2022. The pediatric rehabilitation robotics market, a sector still in its infancy, is set for a promising future.
According to the data of the World Health Organization (WHO), in 2021, approximately 1.71 billion people worldwide faced musculoskeletal disorders, underscoring the urgent need for the introduction of rehabilitation robots. These state-of-the-art devices play a critical role in helping people with physical disabilities and the differently-abled maintain balance, stand up, and maintain gait.
Medical rehabilitation robotics offer many advantages, such as allowing people with spinal cord injuries to stand and walk with reduced metabolic cost. In addition, this industry includes technological advances such as machine learning (ML), artificial intelligence (AI), and advanced sensor technologies. The growing geriatric population is also a major factor fueling the exponential growth of the medical rehabilitation robotics industry.
The North America region accounts for more than 40% of the market share, which is attributed to the increasing incidence of spinal cord injuries and the increasing number of aging and disabled populations. Europe also has a significant market share, with Germany leading the way, followed by Spain, Denmark and the United Kingdom. The Asia-Pacific region is expected to grow rapidly, with countries such as Japan labeled as a “super-aging society”.
Major market players in the medical rehabilitation robotics industry include Ekso Bionics Holdings Inc., AlterG Inc., Bionik Laboratories Corp., Cyberdyne Inc., ReWalk Robotics and many others.
Finally, the medical rehabilitation robotics industry is poised for significant growth fueled by increasing demand for rehabilitation services and technological advancements. This industry plays a crucial role in helping people with disabilities improve their quality of life and regain independence.
Sources:
– Future Market Insights: “Medical Rehabilitation Robotics Market” report
– reports the World Health Organization (WHO).
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2023-10-19 14:41:49
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