ROBOTIC REHABILITATION AND ASSISTIVE TECHNOLOGIES MARKET ANALYSIS

Rehabilitation robotics and assistive technologies allow for use of robotic devices for rehabilitation of patients suffering from mobility issues. Robotic rehabilitation and assistive technologies allow for application of robotics in therapeutic procedures to help with recovery a person from various diseases or disabilities such orthopedic traumas, neuromotor disorders, cognitive diseases, strokes and spinal cord injury. Assistive robotics allows people suffering from degenerative motor and/or cognitive abilities to lead an independent life.

Increasing prevalence of disability around the globe is expected to fuel growth of the rehabilitation robotics and assistive technologies market

According to World Health Organization (WHO) 2016, around 1 billion people worldwide suffered from some form of disability, of which around 190 million were unable to carry out daily function independently. Rapid increase in the disabilities due to increasing prevalence of disease such as rheumatoid arthritis, cerebral palsy, spinal cord injury, and other ageing disabilities are expected to increase demand for robotic rehabilitation and assistive technologies. According to WHO 2017, around 47 million people suffered from dementia, with around 10 million new cases reported each year. This creates a highly conducive environment for growth of the robotic rehabilitation and assistive technologies market in the near future. Lack of awareness about new technologies among the populace, especially in emerging economies, and high cost of robotic rehabilitation and assistive technologies is a major factor restraining market growth.

Robotic Rehabilitation and Assistive Technologies Market Taxonomy

The global robotic rehabilitation and assistive technologies market is segmented on the basis of product type, portability, and application

On the basis of product type, the robotic rehabilitation and assistive technologies market is segmented into:

• Surveillance & Security,
• Humanoid,
• Rehabilitation,
• Socially Assistive

On the basis of portability, the robotic rehabilitation and assistive technologies market is segmented into:

• Fixed base
• Mobile

On the basis of application, the robotic rehabilitation and assistive technologies market is segmented into:

• Stroke
• Orthopedics
• Cognitive & Motor Skills
• Sports
• Others

Europe is expected to dominate the robotic rehabilitation and assistive technologies market

Regional segmentation of robotic rehabilitation and assistive technologies market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe is expected to hold a dominant position in the robotic rehabilitation and assistive technologies market throughout the forecast period due to increasing prevalence of disabilities in the region. According to an article published by The Institute of Modern Russia, around 13 million people live with certain disabilities, constituting to around 9% of the total population in the country. Furthermore, researchers at the University of Hertfordshire, along with European partners have developed a robotic glove intended for stroke patients. It can be used in home settings to support rehabilitation. North America is expected to be the second-largest market, due to robust technological infrastructure and inclination of the population towards adoption of new technologies.

Key players in the market are partnering with healthcare providers to increase market penetration

Key players in robotic rehabilitation and assistive technologies market include Mazor Robotics Ltd., Intuitive Surgical Inc., Accuray, Inc., Health Robotics S.R.L., Kinova, AlterG inc., Ekso Bionics, and Interactive Motion Technologies, Bioxtreme Robotics Rehabilitation, Instead Technologies. In 2016, Ekso Bionics Holdings, Inc., received U.S. Food and Drug Administration (FDA) approval for Ekso GT robotic exoskeleton. This product is used to treat an individual with hemiplegia which occur due to stroke.