Robotic Rehabilitation and Assistive Technologies Market to Hit US$2,290.3M by 2025 - Transparency Market Research

Transparency Market Research

Increasing Number of Disabled Patients to Drive Growth Prospects for Robotic Rehabilitation and Assistive Technologies

​The global robotic rehabilitation and assistive technologies is still in a nascent state as most technologies are still being developed and yet to go mainstream in full flow. A small proportion of various applications are being explored in laboratories startup companies and Universities. Rising instances of strokes and the rapidly expanding geriatric population are two important factors driving sales in the market. The global robotic rehabilitation and assistive technologies market is fragmented with the presence of a large number of startups and small companies. According to recent report published by Transparency Market Research (TMR), the market is anticipated to rise from US$765.1M in 2016 to US$2,290.3M by 2025, expanding at a CAGR of 13.1% from 2017 to 2025.

Increasing Incidences of Stroke and Expanding Geriatric Population base to Drive Growth of Market

Minimally invasive procedures are easily carried out by surgical robots assisting surgeons to perform complex procedures, driving the growth of this market. These robots also assist in performing radiation treatment for cancer patients and assist in rehabilitation of disabled patients. The robotic rehabilitation and assistive technologies market is mainly attributed to the burgeoning geriatric population worldwide and the increasing instances of stroke are two factors which cost people their freedom of movement to some extent or even to a large extent.

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High Cost to Deter Adoption Rates of Robotic Rehabilitation and Assistive Technologies

Technological progress leading to the use of more efficient motors, sophisticated controls, safety mechanism for backup, compact and light materials used are some of the factors that are fueling the growth of the robotic rehabilitation and assistive technologies market. One of the key factors hampering the sales of assistive robots is its high cost. Due to the high cost of development combined with the relatively low benefit for patients and clinics, the price to performance ratio is not feasible. However, the favorable reimbursement policies and improvement in production methods are expected to reduce the impact of these restraints.

Asia Pacific to Outshine North America and Emerge as Leading Regional Segment

The global robotic rehabilitation and assistive technologies market is currently led by North America. The region will continue to hold its leading position by expanding at a CAGR of 12.8% in the period from 2017 to 2025. This market is expected to be worth US$1.07 bn by 2025. In terms of market share, Europe trails North America. Germany is leading in the European market driven by the early adoption of newer robotic rehabilitation and assistive technologies. However,

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Asia Pacific is expected outshine all the other regions in terms of growth rate. The market in this region is expected to expand at a stupendous CAGR 15.3% from 2017 to 2025, and reach US$474.1 mn by 2025. In Asia-pacific the growth of robotic rehabilitation and assistive technologies market is attributed to the aging population.

Standalone Robots to Continue to Enjoy Highest Demand

Based on the profitability, rehabilitation and assistive technologies are divided into standalone and mobile. Standalone robots remain fixed at one place and perform a set of fixed tasks or perform a single task. Their operations are limited and they are not meant for multitasking. Yet they fetch maximum revenue in the market. Backed by favorable reimbursement policies and its efficiency in inpatient rehabilitation, this segment will retain its dominance even in the next couple of years. Also, technological advancements are expected to drive the segment’s growth during the forecast period.

Assistive robot and rehabilitation robot are the two broad segments of the market, based upon type. Assistive robot is a medical device that benefits people with disabilities and help the elderly carrier out their day-to-day work. Of these, the assistive robot segment accounts for maximum revenue share in comparison to the rehabilitation robot segment. The assistive robot segment is expected to retain its upper hand even in the years to come.

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