The Rehabilitation Robots Industry was valued at USD 529.8 million in 2018 and is anticipated to grow to USD 2,617.3 million by 2026, at a compound annual growth rate (CAGR) of 22.1% from 2019 to 2026. A branch of robotics called rehabilitation robotics focuses on creating tools or robots that aid in the healing of physical wounds. Robots are essential tools for people with disabilities because they are multi-purpose manipulators that help move materials. Robot-mediated therapy, prosthetics, assistive devices, and many other things have been developed since rehabilitation robots first appeared in the 1960s.

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Market Drivers

• Ageing Population: The global population is ageing, and this is driving demand for rehabilitation robots as older adults seek to maintain their independence and mobility.
• Rising Prevalence of Chronic Diseases: The rise in chronic diseases, such as stroke, osteoarthritis, and Parkinson's disease, is driving demand for rehabilitation robots as these devices can help improve patient outcomes and quality of life.
• Advances in Technology: The development of new technologies, such as robotics, artificial intelligence, and wearable devices, is driving the growth of the rehabilitation robots market.
• Increased Healthcare Expenditure: The rise in healthcare expenditure is leading to increased investment in innovative medical devices, including rehabilitation robots.
• Government Support and Initiatives: Governments around the world are providing funding and support for the development of new medical technologies, including rehabilitation robots, to address the growing demand for rehabilitation services.

Growing Incidence of Spinal Cord Injuries and Strokes to Favor Growth of Therapeutics Robot Segment 

The report classifies the global rehabilitation robots market on the bases of type, end user, and geography. In terms of type, the market is segmented into therapeutics robots, assistive robots, exoskeleton robots, and others. Numerous prominent market players have recently started investing huge sums of money in the design and development of assistive robots in order to treat those with chronic health conditions.

This, in turn, is anticipated to increase the global rehabilitation robots market sales. Fortune Business Insights predicts that the therapeutics robots segment will witness significant growth in the CAGR during the forecast period. This is mainly due to the rising incidence of strokes and spinal cord injuries that in turn, affect the mobility of people. All these factors contribute to the global rehabilitation robot market growth in the coming years. By end user, the market is grouped into hospitals, rehabilitation centres, and others.

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FDA Approvals and Product Launches to Strengthen Market Positions of Key Market Players

The global rehabilitation robots market is combined due to diverse product offerings and strong company portfolios. ReWalk Robotics, Inc., a developer of wearable robotic exoskeletons, based in the U.S., announced in June 2019 that the Food and Drug Administration (FDA) approved the ReStore soft exo-suit system for sale to rehabilitation centres in the U.S.The system will be used to treat stroke survivors with mobility challenges. The exo-suit is also cost-effective and functional. It can be used in the ‘Main Street clinics. Bionik Inc., a global pioneering healthcare company, headquartered in Canada, announced the launch of its new generation InMotion ARM/HANDrobotic system in January 2019. The system will aid in the clinical rehabilitation of stroke survivors and will also be provided to those who are suffering from mobility impairments due to neurological conditions.

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