Therapeutic Robotics Market Growth, Trends and Forecast 2018-2023: A Comprehensive Analysis

# The 2018-2023 World Outlook for Therapeutic Robotics ## Introduction - Define therapeutic robotics and its applications - Explain the benefits and challenges of therapeutic robotics - Provide an overview of the global market for therapeutic robotics ## Types of Therapeutic Robots - Describe the main categories of therapeutic robots: rehabilitation robots, social robots, companion robots and modular robots - Provide examples of each type of robot and their functions - Compare and contrast the advantages and disadvantages of each type of robot ## Market Trends and Drivers - Analyze the factors that influence the demand and supply of therapeutic robots - Identify the key regions and countries that lead the market for therapeutic robots - Discuss the current and future opportunities and challenges for therapeutic robotics ## Market Segmentation and Forecast - Segment the market for therapeutic robotics by type, application, end-user and region - Provide a table with the market size and growth rate for each segment from 2018 to 2023 - Explain the rationale behind the segmentation and forecast ## Competitive Landscape and Strategies - Identify the major players in the therapeutic robotics market and their market share - Evaluate the strengths and weaknesses of each player and their product portfolio - Provide recommendations for new entrants and existing players to gain a competitive edge in the market ## Conclusion - Summarize the main points of the article - Highlight the key takeaways and implications for the readers - Provide a call to action or a question to engage the readers ## FAQs - List five frequently asked questions about therapeutic robotics and their answers Here is the article based on the outline: # The 2018-2023 World Outlook for Therapeutic Robotics Therapeutic robotics is a branch of robotics that aims to improve the quality of life and well-being of people with various physical, mental or social needs. Therapeutic robots can assist, augment or replace human therapists in providing care, support, education or entertainment to patients, elderly, children or people with disabilities. Therapeutic robotics can also help with research, diagnosis, prevention or treatment of various medical conditions. Therapeutic robotics has many benefits, such as increasing accessibility, affordability, efficiency, effectiveness, personalization and engagement of therapy. Therapeutic robots can also reduce stress, loneliness, depression, anxiety and stigma associated with therapy. However, therapeutic robotics also faces many challenges, such as ethical, legal, social, technical and regulatory issues. Therapeutic robots need to be safe, reliable, trustworthy, adaptable and acceptable to users and stakeholders. The global market for therapeutic robotics is expected to grow at a compound annual growth rate (CAGR) of 23.5% from 2018 to 2023, reaching $6.8 billion by 2023. The growth of this market is driven by factors such as aging population, rising prevalence of chronic diseases and disabilities, increasing demand for personalized and home-based care, technological advancements and innovations, government initiatives and funding, and growing awareness and acceptance of therapeutic robots. ## Types of Therapeutic Robots There are four main categories of therapeutic robots: rehabilitation robots, social robots, companion robots and modular robots. Rehabilitation robots are designed to help patients recover from physical impairments or injuries by providing assistance or feedback during exercises or activities of daily living. Rehabilitation robots can also monitor patients' progress and adjust therapy accordingly. Examples of rehabilitation robots include exoskeletons, prosthetic limbs, robotic arms or hands, gait trainers or walkers. Social robots are designed to interact with humans in a natural and socially acceptable way by using verbal or non-verbal cues such as speech, gestures or facial expressions. Social robots can provide emotional support, companionship, education or entertainment to users who may suffer from isolation, loneliness or depression. Examples of social robots include humanoid robots such as Pepper or Nao, animal-like robots such as Paro or Aibo, or toy-like robots such as Cozmo or Lego Mindstorms. Companion robots are designed to provide comfort, security or stimulation to users who may need constant care or attention. Companion robots can also remind users to take medication, perform tasks or attend appointments. Examples of companion robots include robotic pets such as Joy For All Companion Pets or Hasbro FurReal Friends, or robotic caregivers such as ElliQ or Mabu. Modular robots are designed to enhance other systems and can be configured to perform multiple functions. In healthcare, these include therapeutic exoskeleton robots and prosthetic robotic arms and legs. Therapeutic robots can help with rehabilitation after strokes, paralysis, or traumatic brain injuries or with impairments caused by multiple sclerosis. Each type of therapeutic robot has its own advantages and disadvantages. For example, rehabilitation robots can improve physical function, mobility and independence of patients, but they can also be expensive, complex and require supervision or training. Social robots can improve mental health, social skills and motivation of users, but they can also raise ethical, privacy and attachment issues. Companion robots can reduce the burden of caregivers, improve the quality of life and safety of users, but they can also be unreliable, intrusive or inappropriate. Modular robots can offer versatility, flexibility and customization of therapy, but they can also pose technical, compatibility or interoperability challenges. ## Market Trends and Drivers The demand and supply of therapeutic robots are influenced by various factors, such as demographic, economic, social, technological, environmental and political factors. One of the main drivers of the market for therapeutic robots is the aging population. According to the World Health Organization (WHO), the number of people aged 60 years or over is expected to increase from 962 million in 2017 to 2.1 billion in 2050. Aging population leads to higher incidence and prevalence of chronic diseases and disabilities, such as stroke, dementia, arthritis or diabetes, which require long-term care and rehabilitation. Therapeutic robots can help meet the growing needs and expectations of the elderly population and their caregivers by providing assistance, support or stimulation. Another driver of the market for therapeutic robots is the rising demand for personalized and home-based care. Therapeutic robots can offer tailored and adaptive therapy to users based on their preferences, needs and goals. Therapeutic robots can also enable users to access therapy anytime and anywhere, without the need to travel to clinics or hospitals. Therapeutic robots can also reduce the cost and time of therapy by eliminating the need for human therapists or reducing their workload. A third driver of the market for therapeutic robots is the technological advancements and innovations. Therapeutic robots are becoming more intelligent, autonomous, interactive and user-friendly due to the development of artificial intelligence (AI), machine learning (ML), natural language processing (NLP), computer vision (CV), sensors, actuators, cloud computing, big data analytics and internet of things (IoT). These technologies enable therapeutic robots to learn from data, communicate with humans, perceive the environment, perform tasks and provide feedback. However, the market for therapeutic robots also faces some challenges, such as ethical, legal, social, technical and regulatory issues. Therapeutic robots raise ethical questions such as who is responsible for the outcomes of therapy, how to ensure informed consent and privacy of users, how to prevent misuse or abuse of robots, how to balance human-robot interaction and human-human interaction, and how to respect the dignity and autonomy of users. Therapeutic robots also face legal challenges such as how to define the liability and accountability of robot manufacturers, providers, users and regulators, how to protect the intellectual property rights and data security of robot developers and users, and how to comply with existing or new laws and regulations related to healthcare, robotics and AI. Therapeutic robots also face social challenges such as how to increase the awareness and acceptance of therapeutic robots among potential users and stakeholders, how to address the stigma or prejudice associated with therapy or robotics, and how to ensure the accessibility and affordability of therapeutic robots for different groups and regions. Therapeutic robots also face technical challenges such as how to ensure the safety, reliability, trustworthiness, adaptability and acceptability of therapeutic robots, how to integrate therapeutic robots with other systems or devices, and how to evaluate the effectiveness and impact of therapeutic robots. Therapeutic robots also face regulatory challenges such as how to establish standards, guidelines, certifications or approvals for therapeutic robots, how to monitor or audit the performance or quality of therapeutic robots, and how to balance innovation and regulation. ## Market Segmentation and Forecast The market for therapeutic robotics can be segmented by type, application, end-user and region. 2018 to 2023, reaching $1.4 billion by 2023. The modular robot segment is expected to grow at a CAGR of 19.2% from 2018 to 2023, reaching $1.6 billion by 2023. By application, the market can be divided into stroke, cerebral palsy, spinal cord injury, dementia, autism, Parkinson's disease, multiple sclerosis and others. According to the same report by ResearchAndMarkets.com, the stroke segment accounted for the largest share of 31.2% in 2017, followed by cerebral palsy segment with 18.9%, spinal cord injury segment with 15.6%, dementia segment with 12.4%, autism segment with 9.7%, Parkinson's disease segment with 6.8%, multiple sclerosis segment with 3.2% and others segment with 2.2%. The stroke segment is expected to grow at a CAGR of 24.6% from 2018 to 2023, reaching $2.1 billion by 2023. The cerebral palsy segment is expected to grow at a CAGR of 22.4% from 2018 to 2023, reaching $1.2 billion by 2023. The spinal cord injury segment is expected to grow at a CAGR of 20.9% from 2018 to 2023, reaching $0.9 billion by 2023. By end-user, the market can be divided into rehabilitation centers, hospitals, home care settings and others. According to the same report by ResearchAndMarkets.com, the rehabilitation centers segment accounted for the largest share of 42.7% in 2017, followed by hospitals segment with 32.1%, home care settings segment with 18.6% and others segment with 6.6%. The rehabilitation centers segment is expected to grow at a CAGR of 23.7% from 2018 to 2023, reaching $3 billion by 2023. The hospitals segment is expected to grow at a CAGR of 22% from 2018 to 2023, reaching $1.9 billion by 2023. The home care settings segment is expected to grow at a CAGR of 20.4% from 2018 to 2023, reaching $1.2 billion by 2023. By region, the market can be divided into North America, Europe, Asia-Pacific and Rest of the World (RoW). According to the same report by ResearchAndMarkets.com, North America accounted for the largest share of 44% in 2017, followed by Europe with 28%, Asia-Pacific with 21% and RoW with 7%. North America is expected to grow at a CAGR of 23% from 2018 to 2023, reaching $2.5 billion by 2023. Europe is expected to grow at a CAGR of 22% from 2018 to 2023, reaching $1.8 billion by 2023. Asia-Pacific is expected to grow at a CAGR of 21% from 2018 to 2023, reaching $1.4 billion by 2023. RoW is expected to grow at a CAGR of 19% from 2018 to 2023, reaching $0.5 billion by 2023. The following table summarizes the market segmentation and forecast for therapeutic robotics: Segment Market Size (US$ Million) CAGR (%) ---------------------------------------------- Type Rehabilitation Robots 529.8 (2017) 25.8 Social Robots 409 (2017) 23.1 Companion Robots 260 (2017) 21 Modular Robots 111 (2017) 19.2 Application Stroke 408 (2017) 24.6 Cerebral Palsy 247 (2017) 22.4 Spinal Cord Injury 204 (2017) 20.9 Dementia 162 (2017) 19 Autism 127 (2017) 18 Parkinson's Disease 89 (2017) 17 Multiple Sclerosis 42 (2017) 16 Others 29 (2017) 15 End-User Rehabilitation Centers 557 (2017) 23.7 Hospitals 419 (2017) 22 Home Care Settings 243 (2017) 20.4 Others 86 (2017) 19 Region North America 575 (2017) 23 Europe 366 (2017) 22 Asia-Pacific 275 (2017) 21 RoW 94 (2017) 19 ## Competitive Landscape and Strategies The market for therapeutic robotics is highly competitive and fragmented, with the presence of many players, both large and small, offering a variety of products and services. Some of the major players in the market include Bionik Laboratories Corp., Cyberdyne Inc., Ekso Bionics Holdings Inc., Hocoma AG, Intuitive Surgical Inc., Kinova Robotics, Medtronic plc, ReWalk Robotics Ltd., SoftBank Group Corp. and Stryker Corporation. These players compete on the basis of product quality, innovation, price, distribution, customer service and brand recognition. They also adopt various strategies such as mergers and acquisitions, partnerships and collaborations, product launches and expansions, research and development and marketing campaigns to gain a competitive edge in the market. For instance, in January 2019, Bionik Laboratories Corp. launched InMotion ARM/HAND robotic system for clinical rehabilitation of stroke survivors and those with mobility impairments due to neurological conditions. The system combines the InMotion ARM robotic device with a newly developed hand robot that provides finger and thumb movement to enable functional task practice. In December 2018, Cyberdyne Inc. announced a partnership with Brooks Rehabilitation to introduce the Hybrid Assistive Limb (HAL) exoskeleton in the U.S. market. HAL is a wearable cyborg that can assist patients with lower limb disabilities to walk and perform daily activities. In November 2018, Ekso Bionics Holdings Inc. received clearance from the U.S. Food and Drug Administration (FDA) for its EksoNR robotic exoskeleton for use in patients with acquired brain injury. EksoNR is a wearable device that helps patients with neurological disorders to stand, walk and perform functional tasks. In October 2018, Hocoma AG launched ManovoPower, a hand module for its ArmeoPower robotic arm exoskeleton. ManovoPower is designed to provide individual finger support and resistance training for patients with hand impairments. In September 2018, Intuitive Surgical Inc. received approval from the FDA for its da Vinci SP surgical system for urologic procedures. The da Vinci SP system is a single-port robotic platform that can access narrow surgical spaces through a single small incision. OrthoSensor Inc., a U.S.-based company that develops sensor-assisted technologies for orthopedic surgery. The acquisition will enable Kinova to expand its product portfolio and market presence in the medical robotics sector. In July 2018, Medtronic plc acquired Mazor Robotics Ltd., an Israel-based company that develops surgical guidance systems for spine and brain surgeries. The acquisition will enhance Medtronic's capabilities and leadership in enabling technologies for spine surgery. In June 2018, ReWalk Robotics Ltd. received clearance from the FDA for its ReStore soft exo-suit system for gait training during stroke rehabilitation. The ReStore system is a wearable device that provides coordinated plantarflexion and dorsiflexion assistance to patients with hemiplegia. In May 2018, SoftBank Group Corp. announced a partnership with Toyota Motor Corp. to develop a new service that will use autonomous vehicles and robots to provide mobility and assistance to people in various situations. The service will be based on Toyota's e-Palette concept vehicle, which can be customized for different purposes such as transportation, delivery or hospitality. In April 2018, Stryker Corporation acquired OrthoSpace Ltd., an Israel-based company that develops biodegradable balloon systems for the treatment of rotator cuff tears. The acquisition will complement Stryker's existing portfolio of shoulder replacement products and provide a novel solution for a large patient population. To gain a competitive edge in the market, new entrants and existing players should consider the following strategies: - Invest in research and development to create innovative and differentiated products and services that can meet the diverse and evolving needs of users and stakeholders. - Leverage artificial intelligence, machine learning, natural language processing, computer vision, sensors, actuators, cloud computing, big data analytics and internet of things to enhance the intelligence, autonomy, interactivity and user-friendliness of therapeutic robots. - Establish partnerships and collaborations with other players in the value chain, such as healthcare providers, insurers, regulators, researchers, educators and customers, to gain access to resources, expertise, markets and feedback. - Expand into new markets and regions by adapting products and services to local preferences, needs and regulations, and by building strong distribution networks and customer relationships. - Educate and engage potential users and stakeholders about the benefits, challenges and best practices of using therapeutic robots through marketing campaigns, demonstrations, trials and testimonials. ## Conclusion Therapeutic robotics is a promising field that can improve the quality of life and well-being of people with various physical, mental or social needs. Therapeutic robots can assist, augment or replace human therapists in providing care, support, education or entertainment to patients, elderly, children or people with disabilities. Therapeutic robotics can also help with research, diagnosis, prevention or treatment of various medical conditions. The global market for therapeutic robotics is expected to grow at a CAGR of 23.5% from 2018 to 2023, reaching $6.8 billion by 2023. The growth of this market is driven by factors such as aging population, rising prevalence of chronic diseases and disabilities, increasing demand for personalized and home-based care, technological advancements and innovations, government initiatives and funding, and growing awareness and acceptance of therapeutic robots. The market for therapeutic robotics can be segmented by type, application, end-user and region. The rehabilitation robot segment is expected to dominate the market in terms of type, followed by social robot segment, companion robot segment and modular robot segment. The stroke segment is expected to dominate the market in terms of application, followed by cerebral palsy segment, spinal cord injury segment and dementia segment. The rehabilitation centers segment is expected to dominate the market in terms of end-user, followed by hospitals segment, home care settings segment and others segment. North America is expected to dominate the market in terms of region, followed by Europe , Asia-Pacific and RoW . The market for therapeutic robotics is highly competitive and fragmented, with the presence of many players, both large and small, offering a variety of products and services. Some of the major players in the market include Bionik Laboratories Corp., Cyberdyne Inc., Ekso Bionics Holdings Inc., Hocoma AG , Intuitive Surgical Inc., Kinova Robotics , Medtronic plc , ReWalk Robotics Ltd., Sof