USD 1.18 Billion Growth in Rehabilitation Robots Market | 17,000+ Technavio Report

NEW YORK, Dec. 8, 2021 /PRNewswire/ -- The rehabilitation robots market will grow by USD 1.18 billion as per the latest market outlook report from Technavio. The report identifies the market to witness an accelerating growth momentum at a CAGR of 26.49% from 2020 to 2025. The report also offers a comprehensive analysis on the various factors influencing the market growth positively and negatively during the forecast period.

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Rehabilitation Robots Market Driver and Challenge Analysis
The rising instances of strokes, injuries, and neurological diseases is identified as one of the major factors driving the growth of the market. The increase in the number of people diagnosed with conditions that affect mobility, such as strokes, spinal cord injuries, traumatic brain injuries, multiple sclerosis, Parkinson's disease, and cerebral palsy is driving the global rehabilitation robots market. With challenges such as shortage of experienced therapists, high cost of rehabilitation training, and requirement of prolonged therapy sessions (as in the case of conventional therapy), alternative methods involving rehabilitation robots are expected to be increasingly adopted. In addition, other factors growth in outpatient rehabilitation and technological innovations are some other factors expected to influence the market growth positively during the forecast period.

However, the high cost of rehabilitation robots will be a major challenge for the rehabilitation robots market during the forecast period. In addition, due to price sensitivity in developing countries, potential customers are more likely to opt for low-cost substitutes. This will be a major factor limiting market penetration in developing countries. Furthermore, other factors technical drawbacks and stringent regulations regarding exoskeletons will limit the market growth during the forecast period.

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Rehabilitation Robots Market Segment Analysis
The rehabilitation robots market is segmented by product (UERR, LERR, FE, and TRR) and geography (North America, Europe, APAC, South America, and MEA). The UERR segment held the largest rehabilitation robots market share in 2020 and will continue to retain its dominance in the market during the forecast period. A key driver of the global upper extremity rehabilitation robots market is the increase in the number of patients that need physical therapy, owing to the increase in the occurrence of stroke, which often leads to partial or complete loss of mobility. 

In terms of Geography, North America emerged as the largest revenue-generating regional segment of the rehabilitation robots market. 40% of the growth will originate from North America during the forecast period. The US is the key market for rehabilitation robots in North America. Market growth in this region will be faster than the growth of the market in Europe and MEA. Rising investments in advanced technologies to treat health conditions such as strokes and neurological diseases, growth of the aging population, high disposable income, and investments in medical science will facilitate the rehabilitation robots market growth in North America over the forecast period. 

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Rehabilitation Robots Market Scope
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters

Rehabilitation Robots Market Sizing
Rehabilitation Robots Market Forecast
Rehabilitation Robots Market Analysis

Rehabilitation Robots Market Vendor Analysis
The rehabilitation robots market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market. Market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Rehabilitation robots market players are engaging in strategic partnerships to strengthen their foothold in the market. In March 2021, Hocoma AG entered into a strategic partnership agreement with Reha Technology to provide market-leading solutions in lower extremity rehabilitation. In October 2021, Siemens AG collaborated with Merck to boost machine-to-machine trust in industrial value chains.  

Companies Mentioned

• Bionik Laboratories Corp.
• CYBERDYNE Inc.
• Ekso Bionics Holdings Inc.
• Hocoma AG
• KUKA AG
• Parker Hannifin Corp.
• ReWalk Robotics Ltd.
• Rex Bionics Ltd.
• Siemens AG
• Tyromotion GmbH

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Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by Product
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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