Bionik Makes For An Intriguing Exposure To The Nascent Exoskeleton Space
Posted at Seeking Alpha
Nov. 9, 2015 11:21 AM ET |
The average cost of rehabilitation for wheelchair-bound patients is $150,000.
There have been few major advances in rehabilitation equipment since the advent of the wheelchair in 1933.
Exoskeletons enable a paraplegic to walk with robotic assistance, cutting down rehab time and potentially saving both clinic and patient time and money. 53% of rehab cost is hospitalization.
FDA approval of exoskeletons is much simpler and straightforward than new drugs. Five companies look set to compete for market share in the coming decade.
The most affordable exoskeleton looks to be Bioink’s (BNKL) ARKE at a price point of $50,000, one third the average cost of rehab.
The crossover between robotics and healthcare has become the cutting edge of the rehabilitation space. The industry is nascent, and the companies involved small, but the potential for future revenue generation is anything but.
Surprisingly few advances have been made in the rehabilitation and treatment/care of spinal injury patients - specifically paraplegic and quadriplegics. We've been using wheelchairs for centuries, but the wheelchair's form as we know it came into existence when two mechanical engineers, one of whom had broken his back in a mining accident, built and patented a steel collapsible model in 1933. Since then, all major developments have focused on comfort, maneuverability and weight. Electrical versions at their core are the same design. Enter exoskeletons.
Exoskeletons are detachable constructions that fit to a patient's legs and torso, allowing the patient to replicate his or her walking gait with robotic assistance. Target patients for this type of tech therapy include spinal injury and stroke victims. Why would a therapist choose to use an exoskeleton to aid rehabilitation over traditional methods? Traditional physiotherapy is a costly and drawn-out process, both in terms of time and human capital. Oftentimes, therapy involves two or more physicians holding up a patient while another moves the legs to mimic the patient's walking gait. For the 21st century, this seems a bit crude. (article continues at Seeking Alpha)
