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New Delhi, Feb. 21, 2023 (GLOBE NEWSWIRE) — The medical rehabilitation services market has experienced significant growth over the past decade, due to increased demand for rehabilitation services. This is largely attributed to the rising prevalence of chronic conditions, such as heart disease, diabetes and cancer, and the aging population, which has led to a greater need for rehabilitation services. Furthermore, developments in technology, such as the increasing adoption of artificial intelligence and robotics, are expected to drive the growth of the medical rehabilitation service market over the forecast period. The use of AI and robotics will enable medical practitioners to diagnose and treat patients with greater accuracy and precision, while also reducing the need for manual labor. In addition, advancements in rehabilitation technologies such as virtual reality, remote patient monitoring, and telemedicine have created new opportunities for the market by providing more accessible and cost-effective services.

The global medical rehabilitation services market is projected to witness significant growth over the forecast period, owing to the increasing prevalence of chronic diseases, growing elderly population, and increasing awareness of mental health. Additionally, the rising demand for early diagnosis and treatment, technological advancements, and increasing investment in research and development activities are expected to further drive the growth of the market.

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Neuro-Robotics and Cybernetics Rehab Centers to Take Center Stage in Global Medical Rehabilitation Service Market

According to the recent market research report published by Astute Analytica, the global healthcare industry is witnessing an increasing focus on expanding neuro-robotics and cybernetics rehab centers around the globe. This is a positive development, as these technologies have the potential to revolutionize the industry and improve patient outcomes.

The report on the global medical rehabilitation services market notes that the use of robotics and cybernetics in healthcare has the potential to reduce costs, improve the quality of care, and provide greater access to healthcare for people in underserved communities. As robots can be used to perform advanced diagnostics and surgeries, they can reduce the risk of human error and improve patient outcomes.

In addition, robots can also provide physical therapy and rehabilitation services, helping to speed up recovery times and allowing healthcare providers to manage more patients in a given time. This treatment enables delegating more manual and repetitive therapy components to robotic devices, freeing up the time of clinicians and improving the accessibility of therapy for patients remotely from their homes through telemedicine.

The report highlights that the expansion of neuro-robotics and cybernetics rehab centers can create new economic growth and productivity opportunities, and can create new career paths for people. However, it is also important to address concerns about job losses due to automation, as well as the ethical implications of allowing robots to take on certain tasks traditionally done by humans. Proper regulation is necessary to ensure responsible and safe use of these technologies.

Global Medical Rehabilitation Services Market is Highly Fragmented, Top 4 Players Generates Only 20% Market Revenue

The global medical rehabilitation service market is highly fragmented with many industry players and innovations on the rise. Currently, the top four players namely Athletico Physical Therapy, Ability Lab, The Royal Buckinghamshire Hospital, and Paradigm Healthcare are estimated to generate only around 20% of the total market revenue, indicating there is a large potential for growth for other competitors in this space. This is due to the high demand for medical rehabilitation services, as well as the shift towards preventive care from traditional treatment methods.

These players focus on new product launches, collaborations, and partnerships to gain a competitive edge in the market. For example, in February 2021, Select Medical launched a new web-based platform, MyChart, to provide patients with direct access to the following services: appointment scheduling, communication with providers, and access to a patient portal.

Considering the fragmentation of the global medical rehabilitation service market, there are many opportunities for new entrants to tap into. For instance, some of the key strategies that new players can adopt include offering innovative treatments, tailoring services to cater to specific needs, investing in technological advancements, focusing on customer satisfaction and quality, and leveraging partnerships and collaborations with established players in the market. Additionally, mergers and acquisitions, as well as joint ventures with key industry players, can help new players gain a foothold in the market and establish themselves as viable competitors.

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North America to Continue Dominating Global Medical Rehabilitation Services Market with More than 50% Revenue Share

According to market research, North America dominates the global rehabilitation service market, accounting for more than 50% of the total revenue in 2022. This trend is expected to continue in the coming years due to various factors such as the increasing prevalence of chronic diseases, technological advancements, and favorable government initiatives.

The rising prevalence of chronic diseases such as cancer, heart disease, and diabetes is one of the key drivers of the rehabilitation service market in North America. According to the Centers for Disease Control and Prevention (CDC), chronic diseases are responsible for seven out of ten deaths in the United States, and account for 86% of the nation’s healthcare costs. The increasing burden of chronic diseases has created a significant demand for rehabilitation services in the region.

The region in the global medical rehabilitation service market also benefits from advanced healthcare infrastructure and access to advanced technologies such as robotic exoskeletons, virtual reality, and telemedicine. The availability of advanced technologies has improved the quality of rehabilitation services and has made them more accessible to patients.

Moreover, the favorable government initiatives such as the Affordable Care Act (ACA) and the Rehabilitation Act have also contributed to the growth of the rehabilitation service market in North America. These initiatives provide funding and resources to support the development and delivery of rehabilitation services.

However, the Asia Pacific region is expected to witness the fastest CAGR during the forecast period due to the rising geriatric population, increasing healthcare spending, and improving healthcare infrastructure. The region is also home to emerging economies such as China and India, which are experiencing significant growth in their healthcare sectors. This is expected to create a significant demand for rehabilitation services in the region, making it a lucrative market for players in the rehabilitation service market.

Top Start-up and Developments in Global Medical Rehabilitation Services Market

The field of neuro-robotics and cybernetics rehabilitation centers is rapidly expanding, with several top startups leading the charge. Sakra World Hospital is among the leading companies in this space, having recently launched a state-of-the-art robotic-assisted neuro-rehabilitation center. Neuralink, founded by Elon Musk, is also making waves with its wearable brain-computer interfaces that help people with neurological conditions to communicate.

Other notable market players in the medical rehabilitation service market include Medtronic, Cochlear Ltd., Abbott, Boston Scientific Corporation, LivaNova, Second Sight Medical Products, Inc., MED-EL, Retina Implant AG, Sonova, NeuroPace, Inc, and many others. These companies are developing a wide range of devices, including walkers, canes, glucose monitors, infusion pumps, prosthetics and orthotics, low vision aids, augmentative communication devices, and complex rehabilitation technologies like motorized wheelchairs and assistive breathing machines.

In addition, several innovative startups are developing cutting-edge solutions in the field of neuro-robotics and cybernetics. MindMaze, for instance, creates virtual treatment suites for neurological and physical rehabilitation, while BrainRobotics is developing robotic systems for medical rehabilitation and therapy. Open Bionics is another notable startup that is creating affordable and advanced bionic arms for individuals with upper limb deficiencies. The rapid growth of these startups is expected to drive further innovation in the field, revolutionizing healthcare and improving patient outcomes.

Some of the Top Market Players Are:

• AbilityLab
• Athletico Physical Therapy
• Lifespan Health System
• Med Center Health
• nMotion Physical Therapy
• Paradigm Healthcare
• Performance Rehabilitation Institute of Sports Medicine
• SuVitas
• The Royal Buckinghamshire Hospital
• U.S. Physical Therapy, Inc.
• Other Prominent Players

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