Global Healthcare Assistive Robot Market Insights Forecasts to 2033

• The Global Healthcare Assistive Robot Market Size was Valued at USD 517 Million in 2023
• The Market Size is Growing at a CAGR of 21.08% from 2023 to 2033
• The Worldwide Healthcare Assistive Robot Market Size is Expected to Reach USD 3,501.3 Million by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

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The Global Healthcare Assistive Robot Market Size is Anticipated to Exceed USD 3,501.3 Million by 2033, Growing at a CAGR of 21.08% from 2023 to 2033.

 

Market Overview

Healthcare assistive robots are robots designed to assist and support patients and healthcare providers in several medical backgrounds. Robots are proposed to improve patient care and recover healthcare outcomes by increasing effectiveness, minimizing the workload of healthcare professionals, and providing tailored care to patients. Healthcare assistive robots are still typically mock-up models that only remotely ability to remember human communication dynamics. Researchers are working to make, in record time, a being that can contribute, encourage, teach, and support accuracy and substantial work activities. An assistive robot is a device that can sense, progress sensory information, and execute actions that aid, people with disabilities and elderly people. Assistive robots can clean and make patient rooms self-sufficiently, decreasing person-to-person contact in infectious illness wards. The healthcare assistive robot market has observed notable growth in recent years, transforming the way healthcare facilities are carried. These robots are designed to promote and care for healthcare providers in several responsibilities, ranging from patient care to administrative tasks. The need for innovative methods to improve efficiency, accuracy, and patient outcomes has increased as the world's population ages and pressure on healthcare institutions grows. Healthcare assistive robots, which offer a variety of skills that enhance healthcare services overall, represent a significant development in resolving these issues.

 

Report Coverage

This research report categorizes the market for the global healthcare assistive robot market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global healthcare assistive robot market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global healthcare assistive robot market.

 

Driving Factors

The key factors that propel the growth of the healthcare assistive robot market, such as the rise in geriatric populations, the increase in sports-associated injuries, and the rise in the acquisition of assistive robots in rehabilitation therapies. Furthermore, the increasing investments in providing better healthcare facilities, growing net income, and surging robotics levels in healthcare sectors are some of the factors responsible for the increased acquisition of healthcare assistive robots around the world. In addition, developments in healthcare assistive robots for their applications, functionality, and precision can impact the company's progression completely. Moreover, the expansion of healthcare assistive robots may be further accelerated by the rise in activities carried out by various organizations to close the gap between academic research and product development in the sectors of biomedical technology, robotics, and advanced manufacturing.

 

Restraining Factors

Efficient restrictions and high expenses of healthcare assistive robots can be a remarkable barrier and hinder the growth of the market in the coming years. Limiting factors of this market can hamper their use in certain conditions, like directing complex environments or executing complicated tasks, thereby restraining their use in several healthcare backgrounds. In addition, the high expenses of these robots is the key factor that affects their acquisition in emergent nations. Furthermore, excessive expenditures for system development and research & development result in increased final product costs. Moreover, these complex robotic systems are offered by limited companies at a premium cost.

 

Market Segmentation

The global healthcare assistive robot market share is classified into product, portability, and application.

 

• The rehabilitation segment is anticipated to hold the largest share of the global healthcare assistive robot market during the forecast period.    

On the basis of the product, the global healthcare assistive robot market is divided into surveillance & security, humanoid, rehabilitation, and socially assistive. Among these, the rehabilitation segment is anticipated to hold the largest share of the global healthcare assistive robot market during the forecast period. Fast acquisition of advanced technologically robotic equipment in healthcare settings, rise in healthcare investment, accessibility of advanced devices, and skilled personnel in restoration services are some of the factors predicted to fuel the industry's growth. Furthermore, the integration of advanced technologies in products for disease-specific treatment and the rise in the target population further drive the growth of the market.

 

• The mobile segment is anticipated to grow at a rapid rate in the global healthcare assistive robot market during the forecast period.

On the basis of portability, the global healthcare assistive robot market is divided into fixed base and mobile. Among these, the mobile segment is anticipated to grow at a rapid rate in the global healthcare assistive robot market during the forecast period. The high share of this market is due to numerous clinical aids provided by mobile healthcare assistive robots for patients also for healthcare providers. Some of the main advantages of mobile robots involve enhanced access for those who struggle to travel to healthcare services. In addition, these robots provide tailored care, thus improving patient results by offering timely and precise care, intensive care patients, health status, emotional support, and companionship with improved efficacy.

 

• The stroke segment is anticipated to hold the highest share of the global healthcare assistive robot market during the forecast period.

On the basis of application, the global healthcare assistive robot market is divided into stroke, orthopedics, cognitive & motor skills, and sports. Among these, the stroke segment is anticipated to hold the highest share of the global healthcare assistive robot market during the forecast period. The major factors of the segment’s growth are owed to the accessibility of innovative healthcare assistive robots, better medical availability throughout emergencies, improved recovery, etc. Healthcare assistive robots can be used to monitor vigorous signs and motor function, allowing healthcare experts to perceive changes in patients’ conditions and deliver timely interferences. These robots offer tailored restoration involvements and emotional support allowing improved efficacy, better quality of life, and improved patient results.

 

Regional Segment Analysis of the Global Healthcare Assistive Robot Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global healthcare assistive robot market over the predicted timeframe.

 

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North America is anticipated to hold the largest share of the global healthcare assistive robot market over the predicted timeframe. This stranglehold is credited to a grouping of factors, such as vigorous provision from government initiatives, delicate awareness among investors, and a gradually growing hug of technologically advanced products inside the healthcare segment. The practical tactic of this region in development invention and technology implementation contributes significantly to its foremost position in the healthcare assistive robot market. In addition, kind government inventiveness and promising conditions persevere, and the area is predicted to persist as a significant region contributing to market success. U.S.A leads the market in North America followed by Canada. These factors propel the expansion of the healthcare assistive robot market over the predicted time frame in this region.

 

Asia-Pacific is anticipated to grow at the fastest rate in the global healthcare assistive robot market over the predicted timeframe. The expansion of the market in this region is attributable to the occurrence of the medical devices company in the region and also the development in the buying power of populated nations, like India and China. Furthermore, the increase in research & development activities about the advance of new healthcare assistive products propel the expansion of the market. Additionally, the growing acquisition of healthcare assistive robots in Japan is driving the growth of the market. These factors drive the growth of the healthcare assistive robot market over the predicted timeframe in the Asia Pacific region.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global healthcare assistive robot market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Medtronic plc
• Bionik Laboratories
• Focal Meditech
• Ekso Bionics Holdings, Inc.
• Intuitive Surgical, Inc.
• HONDA Motor Co. Ltd.
• GaitTronics Inc.
• ReWalk Robotics Ltd.
• Hocoma ag
• Cyberdyne, Inc.
• KUKA AG
• Barrett Technology, LLC
• OmniCell
• Kinova Robotics
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

 

• In December 2022, Hocoma and Alias Robotics, a cybersecurity startup, established a partnership for better medical exoskeleton cybersecurity.

 

• In October 2022, a leading provider of healthcare technology, Medtronic plc, recently confirmed three important approvals for the Hugo robotic-assisted surgery (RAS) system, including expansion of its indications and global market.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global healthcare assistive robot market based on the below-mentioned segments:

 

Global Healthcare Assistive Robot Market, By Product

• Surveillance & Security
• Humanoid
• Rehabilitation
• Socially Assistive

 

Global Healthcare Assistive Robot Market, By Portability

• Fixed Base
• Mobile

 

Global Healthcare Assistive Robot Market, By Application

• Stroke
• Orthopedics
• Cognitive & Motor Skills
• Sports

 

Global Healthcare Assistive Robot Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa