InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global AI in Rehabilitation and Assistive Technologies Market– (By Type (Physical Rehabilitation, Cognitive Rehabilitation, Sensory Rehabilitation, Mobility Assistance, Communication Assistance) By Application; By Technology; By End-User, By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global AI in Rehabilitation and Assistive Technologies Market is valued at US$ 2.09 Bn in 2023, and it is expected to reach US$ 5.61 Bn by 2031, with a CAGR of 13.4% during the forecast period of 2024-2031.
AI in rehabilitation and assistive technologies stands as a burgeoning sector, seamlessly blending the realms of healthcare and technology to offer groundbreaking solutions that augment patient outcomes and enrich quality of life. With a wide spectrum of robotic devices and assistive technologies, this market addresses the diverse needs of individuals grappling with disabilities or undergoing rehabilitation processes. Leveraging robotics, artificial intelligence, and sensor technologies, these innovations deliver tailored rehabilitation programs and assistive devices tailored to the unique requirements of patients. The landscape is further enriched by rapid technological advancements, with innovations such as exoskeletons, robotic prosthetics, and virtual reality-based rehabilitation systems expanding treatment options and elevating patient care standards. Driven by an escalating demand for personalized healthcare solutions, the domain of robotic rehabilitation and assistive technologies has witnessed remarkable strides in recent years. Propelled by factors such as the increasing prevalence of disabilities stemming from aging populations, chronic ailments, and traumatic injuries, there’s a growing impetus behind the adoption of these technologies.
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List of Prominent Players in the AI in Rehabilitation and Assistive Technologies Market:
- IBM Corporation
- Microsoft Corporation
- Intel Corporation
- Google LLC
- Apple Inc.
- Amazon Web Services (AWS)
- Bionik Laboratories Corp.
- Hocoma AG
- Ekso Bionics Holdings, Inc.
- SWORD Health
- ReWalk Robotics Ltd.
- Motus Nova
- GaitTronics
- Neofect
- Myomo Inc.
- Onward Robotics
- InMotion Robotics
- Fourier Intelligence Co., Ltd.
- Cyberdyne Inc.
- Assistive Innovations Corp.
- RightHear
- AiServe Technologies
- Kinova Robotics
- Gogoa Mobility Robots
- NovuMind Inc.
- Others
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Market Dynamics:
Drivers:
Amidst escalating healthcare spending, governments and private insurers increasingly recognize the value of investing in technologies that enhance patient care while optimizing healthcare costs. Robotic rehabilitation and assistive technologies have emerged as prime candidates for such investment, offering the benefits of improved patient outcomes and cost-effectiveness. By streamlining rehabilitation processes and reducing the need for prolonged hospital stays, these technologies enhance the quality of care and alleviate financial burdens on healthcare systems.
Challenges:
Their substantial financial burden often impedes the adoption of robotic rehabilitation and assistive technologies. The initial purchase price and ongoing maintenance and service costs create a significant entry barrier, particularly for individual patients without adequate insurance coverage. The sheer expense associated with these technologies not only limits accessibility but also exacerbates healthcare disparities, as those with limited financial resources may struggle to afford the benefits they offer. Tackling the affordability issue requires innovative financing solutions and collaborative efforts among stakeholders to ensure equitable access to transformative rehabilitation technologies.
Regional Trends:
The North America AI in rehabilitation and assistive technologies market is expected to leads this dominance, driven by the presence of major market players such as Intuitive Surgical, Cyberdyne, and Ekso Bionics. The region’s advanced healthcare infrastructure, favorable reimbursement policies, and the increasing prevalence of neurological disorders and musculoskeletal conditions have fueled the demand for robotic rehabilitation and assistive technologies. The Asia Pacific region is experiencing rapid growth in the robotic rehabilitation and assistive technologies market, with a market share of around 20%. Countries like Japan, China, and India are witnessing an increasing demand for these technologies due to the rising geriatric population, the prevalence of chronic conditions, and improving healthcare infrastructure. The region’s vast population, combined with favorable government initiatives and increasing investments in healthcare technology, have created lucrative opportunities for market players.
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Recent Developments:
- In November 2021, Inrobics Social Robotics, S.L.L., a spin-off from the Universidad Carlos III de Madrid (UC3M), unveiled a groundbreaking robotic device designed to offer a novel motor and cognitive rehabilitation service. This innovative technology, developed through research conducted by the university’s Department of Computer Science and Engineering, presents a versatile solution that can be seamlessly integrated into healthcare settings as well as utilized within the comfort of patients’ homes. Leveraging cutting-edge research outcomes, Inrobics aims to revolutionize the field of rehabilitation by providing tailored therapeutic interventions to individuals seeking to regain motor function and cognitive abilities.
- In January 2021, Harmonic Bionics forged a strategic partnership with H Robotics to introduce smart tele-rehabilitation solutions to patients in the United States grappling with neurological and musculoskeletal movement impairments. This collaboration represents a concerted effort to harness technological advancements in robotics and telemedicine to address the diverse rehabilitation needs of patients across the nation. By combining Harmonic Bionics’ expertise in rehabilitation robotics with H Robotics’ proficiency in smart telepresence solutions, the partnership seeks to deliver innovative and accessible rehabilitation services to individuals navigating movement impairments, enhancing their quality of life, and promoting functional independence.
Segmentation of AI in Rehabilitation and Assistive Technologies Market-
AI in Rehabilitation and Assistive Technologies Market- By Type
- Physical Rehabilitation
- Cognitive Rehabilitation
- Sensory Rehabilitation
- Mobility Assistance
- Communication Assistance
AI in Rehabilitation and Assistive Technologies Market- By Application
- Stroke Rehabilitation
- Spinal Cord Injury Rehabilitation
- Traumatic Brain Injury Rehabilitation
- Musculoskeletal Disorder Rehabilitation
- Cognitive Impairment Assistance
- Visual Impairment Assistance
- Hearing Impairment Assistance
AI in Rehabilitation and Assistive Technologies Market- By Technology
- Machine Learning Algorithms
- Natural Language Processing (NLP)
- Computer Vision
- Robotics and Exoskeletons
- Virtual Reality (VR) and Augmented
AI in Rehabilitation and Assistive Technologies Market- By End-User
- Hospitals and Clinics
- Rehabilitation Centers
- Home Care Settings
- Research Institutions and Universities
AI in Rehabilitation and Assistive Technologies Market- By Region
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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