Healthcare Assistive Robot Market Size Estimated to Reach USD 1.2 Billion by 2026: Facts & Factors
According to Facts & Factors, the global healthcare assistive robot market in 2019 was above USD 350 million. The market is expected to grow above a CAGR of 19% and is anticipated to reach over USD 1.2 billion by 2026.
Robots make work simpler and productive, deliver accurate results without time-consuming. The healthcare assistive robots are intelligent in nature as they communicate with patients in human-and-machine interaction and thus activate their cognitive, social, and emotional function. In the healthcare industry, robots have proven very helpful, since they are useful throughout overseeing many operations in various hospitals and healthcare centers. This is done by monitoring the admitted patients in medical institutions and hospitals, it improves life quality. Robots have recently shown their value in the healthcare sector as they can track the behaviors of the patients and assess their physical and emotional state and, ultimately, their intent. The healthcare assistive robots are smart, they help to improve physical, cognitive, and affective residual functionality in social human-robotic encounters (HRI) with patients.
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The increasing geriatric population is prone to chronic diseases. According to statistics, the number of old aged people is increased in the last few years. Another factor that expected to grow the market is the increasing number of injuries caused by the accidents, the rise in stroke prevalence, the increasing number of patients across the globe, rising number of chronic diseases are the factors for driving the market growth. Moreover, many scientists are working to develop innovative technologies in healthcare robots aiming to improve patients care. Robots are used in many surgeries including knee surgery, joint replacement, heart surgery. An increasing need to encourage and control post-stroke rehabilitation are the factors that drive the healthcare assistive robot market growth. However, the high cost of the robot can impede the market growth. Many small organizations and hospitals are not able to invest in such technology due to the high cost. In addition, People are not aware of the use of a robot to carry out assistive work by the robot. This may hinder the market growth. On the other hand, major manufacturers are investing in the robot to develop advance technology and due to the many features offers by the robot can produce lucrative opportunities in the market.
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By product, the market is divided into humanoids, rehabilitation, surveillance & security, socially assistive. Among these, the rehabilitation category is expected to grow in the coming years owing to its adoption in the patient’s recovery process.
By application, the market is separated into the stroke, orthopedics, cognitive & motor skills, sports. In this, the orthopedics category headed the market owing to the increasing number of injuries caused by accidents globally and the adoption of orthopedics robots.
By region, North America dominated the global healthcare assistive robot market attributed to increased technology, investment, and awareness among people about the use of robotics.
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Top key players operating in the market are Barrett Technology, Ekso Bionics Holdings, Cyberdyne, GaitTronics, Hocoma, Hansen Medical, HONDA Motor Co. Ltd., and Kinova Robotics, and others.
This report segments the healthcare assistive robot market as follows:
Global Healthcare Assistive Robot Market: By Product Segmentation Analysis
- Surveillance & security
- Socially assistive
Global Healthcare Assistive Robot Market: By Application Segmentation Analysis
- Motor skills
Global Healthcare Assistive Robot Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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