The global rehabilitation robots market will benefit from the increasing investment through government as well as private organizations towards the research and development of precise robots. According to a report by Fortune Business Insights, titled “Rehabilitation Robots Market Size, Share and Industry Analysis by Type (Therapeutic Robots, Exoskeleton Robots, Assistive Robots, Others), By End User (Rehabilitation Centers, Hospitals, Others), and Regional Forecast 2019-2026,” the market was valued at USD 529.8 Million in 2018 and is Projected to Reach USD 2,617.3 Million by 2026 exhibiting a CAGR of 22.1% between 2019 and 2026.
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Some of the leading companies that are operating in the global market are:
- CYBERDYNE INC.
- Ekso Bionics
- ReWalk Robotics
- Rex Bionics Ltd.
- Corindus, Inc.
Increasing Reimbursement Policies to Favor Growth of the Market in North America
The increasing health reimbursement policies will favor the adoption of rehabilitation robots. Incorporation of advanced technologies, combined with the growing investment in developing these products, will aid the growth of the market in North America. Additionally, the high prevalence of physical disorders and diseases affecting physical movements will aid the growth of the rehabilitation market in North America. Despite North America’s dominance, Asia Pacific is likely to register a high CAGR in the coming years owing to the increased awareness regarding the adverse effects of diseases such as Alzheimer’s and dementia.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/rehabilitation-robots-market-101013
Key Segmentation of Rehabilitation Robots Market:
- Therapeutic Robots
- Exoskeleton Robots
- Assistive Robots
By End User
- Rehabilitation Centers
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Rest of World
Huge Investments Have Paved the Way for Innovations; Subsequently Aiding Market Growth
The increasing investment towards the research and development of rehabilitation robots has emerged in favor of market growth. Increased overall investment has enabled diverse applications and the flexibility in product applications will bode well for the market. In 2019, Bionik Inc. launched a new product aimed at treatment and assisting stroke survivors. The company announced the launch of Next Generation In-Motion Arm/Hand Robotic System at the American Physical Therapy Association Combined Sections Meeting. Bionik’s latest product will help the company generate a substantial rehabilitation market revenue. In 2016, Apollo launched India’s first rehabilitation hospital inclusive of latest industry products and advanced technology. The report highlights key innovations that have graced the market in recent times and gauges the impact of these products on the global market.
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