Global market for robotic rehabilitation and assistive technologies will clock a CAGR of 13.1% over the 2017-2025
OREANDA-NEWS. January 24, 2018. The global robotic rehabilitation and assistive technologies market is currently in its nascent state as only a fraction of possible applications of robotic rehabilitation and assistive technologies are being explored. While the market is largely consolidated with a small number of established companies, new participants are seeking entry to leverage the ample growth opportunities the market offers.
Accuray Incorporated. Bionik Laboratories Corp., Ekso Bionics, Instead Technology Ltd., Reha-Stim Medtec Gmbh & Co. KG, AlterG Inc., Vincent Medical,., DIH Technologies Corporation, Intutive Surgical Inc., and Mazor Robotics are to name pioneering companies in the global market for robotic rehabilitation and assistive technologies.
As per estimates of a report by Transparency Market Research, the global market for robotic rehabilitation and assistive technologies will clock a CAGR of 13.1% over the 2017-2025 forecast period. Expanding at this rate, the market which stood at US$765.1 mn in 2016 will be valued at US$2,290.3 mn by 2025 end.
Q: What are the key growth drivers of the market?
A: The adoption of medical robots is bringing about a radical change in the way medical care is rendered. Surgical robots assist surgeons to carry out complex minimally invasive surgeries; some robots aid to improve accuracy of radiation therapy for cancer and for rehabilitation of disabled patients. Due to this, medical robots hold immense promise for modern healthcare practices.
The burgeoning geriatric population globally and increasing incidence of stroke, both of which hamper moving ability of individuals to a lesser or higher degree is stoking growth of the robotic rehabilitation and assistive technologies market.
Apart from this, technological advances leading to the adoption of more efficient motors, power back-up, use of compact and light materials, and sophisticated controls and safety mechanisms are also bolstering the market for robotic rehabilitation and assistive technologies.
Read Report Overview: https://www.transparencymarketresearch.com/robotic-rehabilitation-assistive-technologies-market.html
Q: Which market segments are showing greater promise?
A: Depending upon portability, robotic rehabilitation and assistive technologies could be divided into standalone and mobile. Standalone robots currently gross maximum revenue, and going forward the segment is likely to maintain its dominant share in the upcoming years. This is mainly because of their efficiency for inpatient rehabilitation and favorable reimbursement policies. Additionally, technological advances serves as another key factor to up the demand for standalone robots.
On the basis of type, the two broad segments into which the global robotic rehabilitation and assistive technologies market could be divided are assistive robot and rehabilitation robot. Of the two, assistive robot accounts for the leading revenue share in the market. This is because assistive robots assist disabled people and elderly people to carry out day-to-day work. In the coming years too, assistive robot segment is anticipated to maintain its dominant share.
Source: Transparency Market Researc