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+--- Thread: Rehabilitation robots market size worth $1.0 billion by 2030 (/thread-12785.html)
Rehabilitation robots market size worth $1.0 billion by 2030 - C C - Aug 29, 2022
https://www.prnewswire.com/news-releases/rehabilitation-robots-market-size-worth-1-0-billion-by-2030---grand-view-research-inc-301613679.html
INTRO: The global rehabilitation robots market size is expected to reach USD 1.0 billion by 2030 and is expected to expand at a CAGR of 17.3% during the forecast period, according to a new report by Grand View Research, Inc. The major factors driving the industry growth are the high per capita healthcare spending and rapid adoption of technologically advanced instruments.
The demand for rehabilitation robots is increasing, as these are beneficial in improving the quality of life of individuals with conditions such as spinal cord injury, paralysis, and others. The rising number of product approvals by regulatory bodies such as the FDA is expected to further propel the growth in the forecast period. Increasing incidence of spinal cord injury and musculoskeletal disorders are driving the adoption of robots for rehabilitation purposes.
Key Industry Insights & Findings from the report:
- Exoskeleton dominated the market in 2021 with a 58.5% revenue share owing to the rising geriatric population and growing prevalence of conditions, such as spinal cord injuries and stroke, which are some of the factors boosting the adoption of exoskeletons.
- The Lower Extremity segment is held the largest market share of 59.6%. However, the upper body is anticipated to grow with the fastest CAGR of 17.6%
- Hospitals & clinics held the largest market share of 47.0% in 2021. However, senior care facilities are expected to grow with the fastest CAGR value of 17.9% due to the rising percentage of the geriatric population.
- North America dominated the Rehabilitation Robots market with 47.0% of the total share in 2021, whereas emerging economies such as the Asia Pacific are anticipated to exhibit the fastest growth with a CAGR of 24.4% over the forecast.