Robotic Rehabilitation and Assistive Technologies Market to Exhibit 13.1% CAGR; Driven by Growing Pool of Geriatric Population: TMR Study by Tracy Williams November 18, 2019 November 18, 2019 263 The global robotic rehabilitation and assistive technologies market is at its nascent stage and therefore, only a fraction of the possible applications have been explored till now by companies, labs, and universities. This also means that there is much room for this market to grow. As of now the market is filled with start-ups and small companies which are well established. This makes the global robotic rehabilitation and assistive technologies market fragmented. Some of the leading players in the market are: Vincent Medical, Ekso Bionics, Accuray Incorporated, Mazor Robotics, DIH Technologies Corporation, Reha-Stim Medtec GmbH & Co. KG, Intuitive Surgical, Inc, AlterG, Inc., Instead Technology Ltd., and Bionik Laboratories Corp. According to a market intelligence study, the global robotic rehabilitation and assistive technologies market will be worth US$2,290.3 mn by 2025, expanding at a 13.1% CAGR from 2017 to 2025. On the basis of application, the surgery segment led the market. This segment is anticipated to continue to lead in the years to come. By geography, the market is will witness highest growth in Asia Pacific on account of the growing pool of geriatric population. Asia Pacific market for robotic rehabilitation and assistive technologies is expected to exhibit a 15.3% CAGR between 2017 and 2025, with Japan being the foremost revenue generator. The high cost however, will limit the adoption of robotic rehabilitation and assistive technologies by emerging economies in the region. High Demand for Surgical Assistance During Complex Procedures Predicted The use of robotic rehabilitation and assistive technologies has just begun in the healthcare industry. Surgical robots are of much assistance during surgeries when surgeons perform complex and minimally invasive procedures. Robots are also assisting doctors in boosting accuracy during radiation treatment for cancer patients as well as assist with rehabilitation of disabled patients. Robotic rehabilitation and assistive technologies have immense growth opportunities and holds much promise in the healthcare area. As per the lead author of this report, “the growing instance of strokes which in turn renders people bed-ridden or in a way takes away their ability to move to some degree, will be a key factor boosting the growth of the robotic rehabilitation and assistive technologies market.” Rapid Improvement and Advancements in Technology to Accelerate Growth The market is also driven by the surge in the geriatric population worldwide. Aged people are also in limited in their ability to move, to some degree and this will create a need for robotic rehabilitation and assistive technologies. The technological advancements occurring in the field has led to a more efficient use of motors and light materials. Advancements and innovations have also resulted in sophisticated control, improved safety mechanisms, and power backup. High Cost of Robotic Rehabilitation and Assistive Technologies to Pose a Challenge On the other hand, it is predicted that the steep price will go against the growth of the market as it will limit the adoption rates, especially in cost sensitive regions of the world. The cost to performance ratio may not be feasible on account of the high cost of development and relatively low benefit for hospitals or patients will hamper adoption rates. However, some relief can be expected on account of the improvement in production methods as well as due to favourable reimbursement policies. RoboticsTransparency Market Research Share 0 FacebookTwitterPinterestEmail Tracy Williams previous post 30,000 people receive diabetes monitors thanks to the NHS Long Term Plan next post UK-developed device cleared by U.S. FDA for stroke patients at high-risk for blood clots You may also like Challenges facing the custom orthotic design industry July 4, 2024 6 Autism stereotypes we need to overcome May 2, 2024 April 24, 2024 Public concern about the NHS soars as delays accessing A&E and GP... April 23, 2024 Spoken Announces Update and Plans for Autism Acceptance Month April 22, 2024 A third of Brits have difficulty accessing their GP. Local health reforms... April 19, 2024 Transform Healthcare Unveils 10-Point Transformation Plan Under New Leadership April 18, 2024 Coventry University leads UK-Indonesia initiative to increase disability inclusion in higher education April 17, 2024 PhD student aims to help save lives as autism research is included... April 16, 2024 Pioneering Spinal Health with Prof. Dr. Yunus Aydın’s Microdiscectomy and Spinal Canal... April 15, 2024 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment.