The medical robotics market has just begun to take hold over the health care industry. Surgical robots aid surgeons to perform complex minimally invasive procedures; some robots assist in improving accuracy of radiation treatment for cancer and assist in rehabilitation of disabled patients. They hold out a lot of promise for the healthcare sector. The market for robotic rehabilitation and assistive technologies is being driven mainly by the burgeoning geriatric population worldwide and the increasing instances of stroke – both of which rob people of their ability to move about in lesser or greater degree.
According to Transparency Market Research, the global robotic rehabilitation and assistive technologies market will likely expand at a CAGR of 13.1% from 2017 to 2025. Rising at this pace, the market which was worth US$ 765.1 mn in 2016 is projected to attain a value of US$ 2,290.3 mn by 2025.
Geographically, the key regions in the global robotic rehabilitation and assistive technologies market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Currently, Asia Pacific, driven primarily by Japan, is growing at a maximum pace. The report by TMR predicts the market to clock a CAGR of 15.3% CAGR during the period between 2017 and 2025. A rising pool of elderly is mainly serving to boost demand in the market. However, developing countries in the region are somewhat lagging in sales of robotic rehabilitation and assistive technologies on account of their expensiveness.
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A few of the pioneering companies in the global robotic rehabilitation and assistive technologies market are Accuray Incorporated, AlterG, Inc., Bionik Laboratories Corp., DIH Technologies Corporation, Ekso Bionics, Intuitive Surgical, Inc, Instead Technology Ltd., Mazor Robotics, Reha-Stim Medtec GmbH & Co. KG, and Vincent Medical.