The Global Assistive & Rehabilitation Robotic Systems Market was valued at USD 1.4 Bn in 2020 and is expected to reach USD 3.3 Bn by 2027, growing at a CAGR of 12.5% during the forecast period.
Assistive & Rehabilitation Robotic Systems Market Definition
Assistive & rehabilitation robots are devices that can process sensory information, perform actions, and sense that are helpful for the people with disabilities, and elderly, those cannot perform daily activities by their own. The assistive & rehabilitation robotics systems include prosthetics and orthotics.
Assistive & Rehabilitation Robotic Systems Market Dynamics
Expanding insurance coverage for medical exoskeletons and robotic procedures by various hospitals and rehabilitation clinics is expected to increase the adoption of robotics for rehabilitation that drives the growth of assistive & rehabilitation robotic systems market. For instance, Kindred Hospital Rehabilitation Services, has implemented In-Motion Arm robotic system in all its inpatient rehabilitation centres across the country. The significant growth in the demand for assistance robots among the aged population is the boosting factor for the growth of the global assistive & rehabilitation robotic systems market. For instance, according to the International Federation of Robotics, sales of assistance robots for the elderly and disabled population will reach roughly 37,500 units in 2016-2019. Leading companies like Toyota are capitalizing in the improvement of rehabilitation robots to support the elderly to live independently and also helps to their caregivers which are the propelling factors for the growth of assistive & rehabilitation robotic systems market.
The Global Assistive & Rehabilitation Robotic Systems Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the assistive & rehabilitation robotic systems market are:
Based on product, the assistive robots segment held the highest market share during the forecast period due to raise demand for assistive robots among the old-age population
Based on the product, the assistive & rehabilitation robotic systems market has been segmented into assistive robots and rehabilitation robots. The assistive robots segment contributed maximum in the market due to increasing demand of assistive robots among the geriatric population. The assistive robots offer the support, safety, and mobility to the users to enhance the quality of life of old-age population and physically disabled people. The increasing need of assistive robotics among the population of people above 65 years age is the fueling factor for the growth of assistive robots segment.
However, in 2020, the rehabilitation robots segment is expected to observe the fastest growth during the forecast period owing to increasing preference for rehabilitation centres for therapy and better recovery.
Based on application, the post-surgery segment is the dominating segment in the global assistive & rehabilitation robotic systems market
Based on application, the post-surgery segment is dominating segment in the assistive & rehabilitation robotic systems market over the forecast period due to rising preference for robotic rehabilitation in the hospitals for the effective and safe therapy of patients after the surgeries as compared to the home care rehabilitation are the propelling factor for the post- surgeries segment. However, the cost for hospital stay increases for the patients is the hampering factor for this segment.
However, in 2020, the cognitive & motor skill therapy segment is estimated to expand at highest CAGR in market owing to increasing disabilities associated with the chronic diseases.
The report also provides an in-depth analysis of the global assistive & rehabilitation robotic systems market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Global Assistive & Rehabilitation Robotic Systems Market
The outbreak of COVID-19 has a major influence on worldwide healthcare systems, as well as the assistive and rehabilitation robotics systems market. The Centers for Disease Control (CDC) and recommended that health-prevention services and screening, as well as surgeries, be delayed unless the risks of coronavirus decrease, and that hospital infrastructure and rehabilitation centres be secured for COVID-19 patients' treatment. It also hampers the supply for manufacturing devices in the lockdown period. As a result of the COVID-19 pandemic, the assistive & rehabilitation robotic systems market has been impacted negatively. The situation, though, is likely to progressively improve in the near future.
The report also provides an in-depth analysis of key trends in global assistive & rehabilitation robotic systems market
|1||Increasing trend of adoption of advance technology to enhance the quality of life||Positive|
|2||Increasing trends toward rehabilitation robots for effective post-surgery therapy||Positive|
The report also provides an in-depth analysis of recent news developments and investments
The unique insights provided by this report also includes the following:
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