This market research report includes a detailed segmentation of the global rehabilitation robots market by product type (lower extremity, upper extremity, and exoskeleton). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are AlterG, Ekso Bionics, Hocoma, and Interactive Motion Technologies.
Technavio’s market research analysts estimate the global rehabilitation robots market to generate revenues of $2 billion between 2016 and 2020. The growing number of stroke instances, especially among the aging population, is driving the demand for rehabilitation robots. These robots assist different sensorimotor functions of the body, such as those involving arms, legs, and hands. The Americas account for 50% share of the overall rehabilitation robots market. Growing pressure on the government to improve healthcare facilities and infrastructure is a major factor driving the market growth in this region.
The new market research report from Technavio provides a breakdown and analysis of the rehabilitation robots segments by technology.
“Rising healthcare expenditure across the globe is one of the major growth factors spurring increased application of rehabilitation robots. The governments of Asia, North America, and Australia are investing heavily in the healthcare sector in a bid to provide better healthcare facilities. For instance, the annual healthcare spending in the US rose to above $3 trillion during 2014. Such aids have enabled patients to opt for sophisticated rehabilitation robotic therapies instead of traditional therapies,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The lower extremity rehabilitation robots segment occupy 42% of the global market. This segment is expected to grow at a market growth rate of 24% during the forecast period. The growth in the upper extremities is governed by the increased focus on fitness, health, and therapy. Countries like China with a large number of aging population is expected to drive the market for lower extremities by providing assistance and guidance to geriatric conditions.
The key vendors in the global rehabilitation robots market include AlterG, Ekso Bionics, Hocoma, and Interactive Motion Technologies. The market is highly fragmented due to the presence of numerous large and small vendors. Vendors are competing to gain market share and visibility through product innovations, pricing strategies, M&A, and collaborations. For instance, during 2015, Hocoma collaborated with XLAb, a software company, to incorporate their software solutions into Hocoma’s robotic applications.
A more detailed analysis is available in the Technavio report, Global Rehabilitation Robots Market 2016-2020.
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