The global wearable medical robots market was valued at around US$ 239.3 Million at the end of 2021. The market is projected to register a 17.6% CAGR and top a valuation of US$ 1,423.7 Million by 2032.
Increasing advantages of wearable medical robots such as its convenience, reduction in care cost, improved diagnosis, better patient outcomes, and others is the primary factor driving the market growth.
A specific kind of medical wearable technology meant to enhance mobility and physical ability is called a wearable medical robot. Wearable exoskeletons are another name for medical robots. Individuals can be assisted in walking by wearable medical robots for post-surgery or rehabilitation purposes.
Wearable medical robots' physical hardware can be programmed in a variety of ways. Wearable medical robots may be useful for paralysed or impaired people. For strength and speed, the robots employ transducers from human body movements. Robots rely on movement effects, including sound, sight, and physical impact. These tools demonstrate the use of new technology for medical purposes.
Exoskeletons were primarily designed to assist amputees and paraplegics in walking. The lives of patients continue to undergo significant change as a result of wearable medical robot market advancements. Patients recovering from spinal cord injuries and strokes can get up again due to these new wearable medical robots. Wearable medical robots will see a rise in demand due to this technological development.
Attributes
Details
Wearable Medical Robots Market Value in 2021
US$ 239.3 Million
Wearable Medical Robots Market Value in 2032
US$ 1,423.7 Million
Wearable Medical Robots Market CAGR (2022 to 2032)
17.6%
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What are the Major Drivers Boosting the Demand for Wearable Medical Robots Market?
In various sector of healthcare, wearable medical robots are used. Wearable medical robots are used to execute many various surgical operations, such as general surgery, cardiothoracic surgery, urological surgery, and many more treatments, with greater accuracy. As these robots provides greater accuracy the demand for its increasing day by day which is supposed to boost the market of wearable medical robots over the forecast period.
Additionally, wearable robotic exoskeletons have demonstrated to be an innovative method to assist children and adults in rehabilitation as well as the elderly in maintaining or regaining their gait. The American Heart Association estimates that more than 6.5 million Americans have experienced a stroke, with 795,000 new cases estimated each year. Of these individuals, 60% are anticipated to suffer lower limb disability. It is anticipated that this will push them to include gait training in their overall therapeutic plan. As a result, the market is expanding due to the favourable circumstances.
Which Region Shows Strong Growth Potential in the Wearable Medical Robots Market?
North America dominated the regional wearable medical robots market as United States is home to a number of important market participants. The regional manufacturers' significant investments in wearable robotics are also expected to open up more prospects for the development of advanced exoskeletons with a range of options and features depending on current market trends.
It is anticipated that the USA will control a significant portion of the market. The combined investments made in the robotics industry by governmental and commercial entities are what have given it the upper hand in the world market. Additionally, the global market share for wearable medical robots is being increased by the focus on R&D efforts for the creation of effective products, along with rising technology adoptions for applications in the healthcare sector.
Moreover, Asia Pacific is supposed to grow fastest over the forecast duration due to rising awareness and various advantageous use of wearable robotics. Additionally, increasing healthcare expenditure and rising interest in robotic industry is supposed to boost the regional dominance.
