According to Transparency Market Research, the global robotic
rehabilitation and assistive technologies market will likely expand
at a CAGR of 13.1% from 2017 to 2025. Rising at this pace, the market
which was worth US$ 765.1 mn in 2016 is projected to attain a value
of US$ 2,290.3 mn by 2025.
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The medical robotics market has just begun to take hold over the
health care industry. Surgical robots aid surgeons to perform complex
minimally invasive procedures; some robots assist in improving
accuracy of radiation treatment for cancer and assist in
rehabilitation of disabled patients. They hold out a lot of promise
for the healthcare sector. The market for robotic rehabilitation and
assistive technologies is being driven mainly by the burgeoning
geriatric population worldwide and the increasing instances of stroke
– both of which rob people of their ability to move about in lesser
or greater degree.
The market for robotic rehabilitation and assistive technologies is
also being boosted by technological progress leading to the use of
more efficient motors, compact and light materials, power back-up,
and sophisticated controls and safety mechanisms.
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Geographically, the key regions in the global robotic rehabilitation
and assistive technologies market are North America, Latin America,
Europe, Asia Pacific, and the Middle East and Africa. Currently, Asia
Pacific, driven primarily by Japan, is growing at a maximum pace. The
report by TMR predicts the market to clock a CAGR of 15.3% CAGR
during the period between 2017 and 2025. A rising pool of elderly is
mainly serving to boost demand in the market. However, developing
countries in the region are somewhat lagging in sales of robotic
rehabilitation and assistive technologies on account of their
expensiveness.
Robotic rehabilitation and assistive technologies market by
application has been segmented into surgery, cognitive and motor
skill therapy and others. By application, surgery dominated the
global robotic rehabilitation and assistive technologies market. The
segment is likely to retain its dominant position in the years to
come.
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One factor hampering sales, on the flipside, is the steep price of
assistive robots. The price to performance ratio is not viable owing
to the high cost of development combined with a relatively low
benefit for patients and clinics. However, improvement in production
methods and helpful reimbursement policies is helping overcome such
challenges.
At present the global robotic rehabilitation and assistive
technologies market is in a nascent state. This is because just a
fraction of the possible applications are being explored in
universities, laboratories, and start-up companies. Hence, the market
has ample room to grow. Currently, the market is choc-o-bloc with
startups and other small but established companies, which makes the
landscape fragmented.
A few of the pioneering companies in the global robotic
rehabilitation and assistive technologies market are Accuray
Incorporated, AlterG, Inc., Bionik Laboratories Corp., DIH
Technologies Corporation, Ekso Bionics, Intuitive Surgical, Inc,
Instead Technology Ltd., Mazor Robotics, Reha-Stim Medtec GmbH &
Co. KG, and Vincent Medical.
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