The global robotic rehabilitation and assistive technologies market
is at its nascent stage and therefore, only a fraction of the possible
applications have been explored till now by companies, labs, and
universities. This also means that there is much room for this market to
grow. As of now the market is filled with start-ups and small companies
which are well established. This makes the global robotic
rehabilitation and assistive technologies market fragmented. Some of the
leading players in the market are: Vincent Medical, Ekso Bionics,
Accuray Incorporated, Mazor Robotics, DIH Technologies Corporation,
Reha-Stim Medtec GmbH & Co. KG, Intuitive Surgical, Inc, AlterG,
Inc., Instead Technology Ltd., and Bionik Laboratories Corp.
According to Transparency Market Research
(TMR), the global robotic rehabilitation and assistive technologies
market will be worth US$2,290.3 mn by 2025, expanding at a 13.1% CAGR
from 2017 to 2025. On the basis of application, the surgery segment led
the market. This segment is anticipated to continue to lead in the years
to come. By geography, the market is will witness highest growth in
Asia Pacific on account of the growing pool of geriatric population.
Asia Pacific market for robotic rehabilitation and assistive
technologies is expected to exhibit a 15.3% CAGR between 2017 and 2025,
with Japan being the foremost revenue generator. The high cost however,
will limit the adoption of robotic rehabilitation and assistive
technologies by emerging economies in the region.
High Demand for Surgical Assistance During Complex Procedures Predicted
The use of robotic rehabilitation and
assistive technologies has just begun in the healthcare industry.
Surgical robots are of much assistance during surgeries when surgeons
perform complex and minimally invasive procedures. Robots are also
assisting doctors in boosting accuracy during radiation treatment for
cancer patients as well as assist with rehabilitation of disabled
patients. Robotic rehabilitation and assistive technologies have immense
growth opportunities and holds much promise in the healthcare area. As
per the lead author of this report, “the growing instance of strokes
which in turn renders people bed-ridden or in a way takes away their
ability to move to some degree, will be a key factor boosting the growth
of the robotic rehabilitation and assistive technologies market.”
Rapid Improvement and Advancements in Technology to Accelerate Growth
The market is also driven by the surge in
the geriatric population worldwide. Aged people are also in limited in
their ability to move, to some degree and this will create a need for
robotic rehabilitation and assistive technologies. The technological
advancements occurring in the field has led to a more efficient use of
motors and light materials. Advancements and innovations have also
resulted in sophisticated control, improved safety mechanisms, and power
backup.
High Cost of Robotic Rehabilitation and Assistive Technologies to Pose a Challenge
On the other hand, it is predicted that
the steep price will go against the growth of the market as it will
limit the adoption rates, especially in cost sensitive regions of the
world. The cost to performance ratio may not be feasible on account of
the high cost of development and relatively low benefit for hospitals or
patients will hamper adoption rates. However, some relief can be
expected on account of the improvement in production methods as well as
due to favourable reimbursement policies.
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