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Tuesday, December 5, 2023

Government Policies Drive Growth in China’s Rehabilitation Robot Market

BusinessGovernment Policies Drive Growth in China's Rehabilitation Robot Market

According to a recent report from consultancy Frost & Sullivan, China’s medical rehabilitation robot market is poised for rapid development in the coming years, supported by favorable policies and technological advancement. The report states that the market is expected to reach 2.04 billion yuan ($296.7 million) this year and 7.95 billion yuan by 2026, with an estimated compound annual growth rate of 57.5 percent. This represents a significant increase from the market scale of 210 million yuan in 2018.

Capital flow into the sector is also increasing, with a record high of 10 investment deals in 2022 in the country’s medical rehabilitation sector, according to healthcare services platform VBData.cn. By the end of March, there have been three deals with a total value surpassing 200 million yuan, setting a new record in terms of quarterly investment numbers and value.

The government has launched a series of policies between 2015 and 2023 to boost the development of rehabilitation robots, including supporting relevant research and development, promoting technological development, allocating resources for rehabilitation centers, and formulating standards of rehabilitation treatment.

Despite this, data from international journal The Lancet Public Health show that there are more than 460 million people in China with rehabilitation demands, including the elderly, postoperative patients, and those with chronic diseases and disabilities, but supply is still incapable of meeting demand.

This has led to more domestic companies ramping up their R&D efforts in medical rehabilitation robots. Companies like Angelexo, based in Hangzhou, Zhejiang province, develop rehabilitation robots for patients with hemiplegia. Shanghai Siyi Intelligence Technology Co Ltd launched a robot based on a brain-computer interface that collects and records brain signals in real time and converts the signals into motion instructions to assist patient mobility.

Shanghai Bangbang Robotics has developed movement-assisting robots that can help disabled individuals with mobility difficulties stay at home more comfortably, as well as travel-assisting robots that can help those with mobility challenges complete safe and stable travel.

As society continues to age, the demand for rehabilitation robots is expected to grow, and companies should focus on technological innovation and product differentiation, improve product performance and quality, and work with hospitals and rehabilitation institutions to optimize their products and services.

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