Robotic Rehabilitation and Assistive Technologies Market Trends and Forecast up to 2024
Albany, New York, July 10, 2020
Technology has revolutionized all the activities across almost all sectors. The healthcare sector has also benefitted greatly through numerous technologies. What seemed nearly impossible a few years ago is now possible through the use of technology. Individuals with disabilities had lower chances of coming out of their problem but with the advent of novel technologies, movement impairments are history for many specially-abled individuals. The robotic rehabilitation and assistive technology are one of the greatest blessings bestowed on people with disabilities.
Rehabilitation and assistive technologies make use of robotic devices for assisting patients suffering from mobility issues. This aspect may bring great growth opportunities for the robotic rehabilitation and assistive technologies market across the forecast period of 2019-2027. The global robotic rehabilitation and assistive technologies market is projected to reach a CAGR of 12.5% across the forecast period of 2019-2027.
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Surging Geriatric Population to Serve as Significant Growth Accelerator
The robotic rehabilitation and assistive technologies market will bank mostly on the back of the growing rate of the geriatric population across the globe. Assistive technologies are a must for most of the geriatric population as they are more vulnerable to disabilities. Therefore, this aspect may bring good growth for the robotic rehabilitation and assistive technologies market.
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Exoskeleton Robotics to Unlock New Opportunities of Growth
The use of exoskeleton robotics involving wearable frameworks covering the surface of limbs and hands to support the impairment may shine on the horizon of growth across the robotic rehabilitation and assistive technologies market. Exoskeletons nowadays are equipped with advanced technologies like Artificial Intelligence (AI) to provide more efficiency in the functioning of the disabled parts.
A company named Tendo AB has created soft and efficient exoskeletons using space technology to meet the needs of the individuals with decreased hand function. GenElek Technologies, a startup in India has also developed an AI-powered exoskeleton that can help the specially-abled to walk again. These developments are examples of the penetrating technological advancements in the robotic rehabilitation and assistive technologies market.
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Eye Deficiency-Related Technologies may Support Growth of Robotic Rehabilitation and Assistive Technologies Market
The number of individuals with visual deficiencies is on the rise. Age-related vision problems are also a grave concern. These factors may serve as growth generators for the robotic rehabilitation and assistive technologies market.
Manufacturers in the robotic rehabilitation and assistive technologies market are concentrating on research and development activities related to hearing and visual impairments. It may serve as a new dimension of growth for the robotic rehabilitation and assistive technologies market. Omron has recently developed a robotic suitcase with Artificial Intelligence (AI) and features such as haptic interface, conversational AI, mobility service recognition, etc for assisting visually impaired people.
North America and Europe to Serve as Growth Contributors for Robotic Rehabilitation and Assistive Technologies Market
Geographically, the robotic rehabilitation and assistive technologies market can be classified into Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. North America may serve as a prominent growth generating region for the robotic rehabilitation and assistive technologies market across the forecast period. Favorable healthcare reimbursement policies and rapidly growing geriatric population may serve as pillars of growth in the region.
Europe may also constitute a prominent share in the robotic rehabilitation and assistive technologies market. The growing adoption of robots in the healthcare sector and the escalating cases of orthopedic disorders may bring great growth opportunities. Asia Pacific may also bring good growth for the robotic rehabilitation and assistive technologies market due to the heightened focus on healthcare development and infrastructure. Swift urbanization also provides room for the key players in the robotic rehabilitation and assistive technologies market to expand its footprint in the region.
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