Rehabilitation Robots Market Size Worth $1.0 Billion by 2030 - Grand View Research, Inc.

SAN FRANCISCO, Aug. 29, 2022  /PRNewswire/ -- The global rehabilitation robots market size is expected to reach USD 1.0 billion by 2030 and is expected to expand at a CAGR of 17.3% during the forecast period, according to a new report by Grand View Research, Inc. The major factors driving the industry growth are the high per capita healthcare spending and rapid adoption of technologically advanced instruments. The demand for rehabilitation robots is increasing, as these are beneficial in improving the quality of life of individuals with conditions such as spinal cord injury, paralysis, and others. The rising number of product approvals by regulatory bodies such as the FDA is expected to further propel the growth in the forecast period. Increasing incidence of spinal cord injury and musculoskeletal disorders are driving the adoption of robots for rehabilitation purposes.

Key Industry Insights & Findings from the report:

• Exoskeleton dominated the market in 2021 with a 58.5% revenue share owing to the rising geriatric population and growing prevalence of conditions, such as spinal cord injuries and stroke, which are some of the factors boosting the adoption of exoskeletons.
• The Lower Extremity segment is held the largest market share of 59.6%. However, the upper body is anticipated to grow with the fastest CAGR of 17.6%
• Hospitals & clinics held the largest market share of 47.0% in 2021. However, senior care facilities are expected to grow with the fastest CAGR value of 17.9% due to the rising percentage of the geriatric population.
• North America dominated the Rehabilitation Robots market with 47.0% of the total share in 2021, whereas emerging economies such as the Asia Pacific are anticipated to exhibit the fastest growth with a CAGR of 24.4% over the forecast.

Read 100-page full market research report, "Rehabilitation Robots Market Size, Share & Trends Analysis Report By Type (Therapy Robots, Exoskeleton), By Extremity (Upper Body, Lower Body), By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Rehabilitation Robots Market Growth & Trends

The high purchasing and maintenance costs of rehabilitation robots along with stringent approval procedures are some factors that may hamper the market growth in the coming future. Furthermore, COVID 19 also significantly impacted the industry growth. However, constant strategic initiatives in the form of product launches, partnerships, and acquisitions have increased the competition in the industry, thereby supporting growth. In addition, growing technological advancements and increasing expenditure by key players in R&D processes are one of the major factors boosting the market growth.

The lower body extremity held the largest revenue share of 59.6% in 2021. An increase in the prevalence of lower body disabilities, a rapidly aging population, and paralyzed patients are anticipated to boost the adoption, penetration, & growth of the lower-body exoskeleton market. Although, the upper body extremity is expected to have the fastest CAGR of 17.6% over the forecast period.

Hospitals & clinics held the largest market share of 47.0% in 2021. The growth is majorly attributed due to growing healthcare expenditure, and rapid adoption of advanced technology in healthcare facilities. However, senior care facilities are expected to grow with the fastest CAGR over the forecast period. The growth can be attributed to the growing demand for better healthcare facilities for senior citizens and the rising geriatric population.

North America held the largest share in the year 2021. The increasing prevalence of spinal cord injury in the region is fueling the market growth. The rising geriatric population and growing disabled population are among the factors boosting the adoption of rehabilitation robots. However, Asia Pacific is expected to grow with the fastest CAGR of 24.4% over the forecast period due to growing healthcare expenditure within the region.

Rehabilitation Robots Market Segmentation

Grand View Research, Inc. has segmented the global rehabilitation robots market based on type, extremity, end-use, and region:

Rehabilitation Robots Market - Type Outlook (Revenue, USD Million, 2016 - 2030)

• Therapy Robots
• Exoskeleton

Rehabilitation Robots Market - Extremity Outlook (Revenue, USD Million, 2016 - 2030)

• Upper Body
• Lower Body

Rehabilitation Robots Market - End-use Outlook (Revenue, USD Million, 2016 - 2030)

• Hospitals & Clinics
• Senior care facilities
• Homecare Settings

Rehabilitation Robots Market - Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Spain
• Italy
• France
• Russia
• Asia Pacific
• China
• Japan
• India
• Australia
• Singapore
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Saudi Arabia
• South Africa
• UAE

List of Key Players in the Rehabilitation Robots Market

• Tyromotion GmbH
• Life Science Robotics ApS
• Hocoma AG (DIH International Ltd.)
• Rex Bionics Ltd
• Kinova Inc.
• Rehab-Robotics Company Limited
• ReWalk Robotics Ltd
• Ekso Bionics Holdings Inc.
• Cyberdyne Inc.
• Bionik Laboratories Corporation

Check out more related studies published by Grand View Research:

• Behavioral Rehabilitation Market - The global behavioral rehabilitation market size is expected to reach USD 313.9 billion by 2025, according to a new report by Grand View Research, Inc. Behavioral rehabilitation market is anticipated to experience growth during the forecast period due to presence of favorable government initiatives, rising number of service providers, and growing awareness among patients.
• Cardiac Rehabilitation Market - The global cardiac rehabilitation market size is expected to reach USD 2.52 billion by 2025, at a CAGR of 6.3% according to a new report by Grand View Research, Inc. Rising incidence of lifestyle diseases such as cardiovascular conditions, obesity, and hyperlipidemia is one of the major factors responsible for growth.
• Rehabilitation Equipment Market - The global rehabilitation devices/equipment market is expected to reach USD 17.5 billion by 2025, according to a new report by Grand View Research, Inc. Global increase in prevalence of degenerative diseases and number of trauma cases has led to a rise in number of patients in need of rehabilitation, which is anticipated to boost growth over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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