New York, United States , July 02, 2024 (GLOBE NEWSWIRE) -- The Global Healthcare Assistive Robot Market Size is to Grow from USD 517 Million in 2023 to USD 3,501.3 Million by 2033, at a CAGR of 21.08% during the projected period.
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Robots developed with a variety of medical backgrounds in consideration, healthcare assistive robots are meant to help and support patients as well as healthcare professionals. By enhancing efficacy, reducing the burden of healthcare staff, and offering patients individualized treatment, robots have been proposed as an avenue for improving patient care and recovering healthcare results. The majority of healthcare assistance robots are still mock-up models with a limited capacity to recall human conversation dynamics. The primary drivers of the healthcare assistive robot market's expansion are the aging of the population, the rise in sports-related injuries, and the growing use of assistive robots in rehabilitation treatments. Furthermore, the rapid growth of programs by many organizations aimed at bridging the knowledge gap between research and commercialization in the fields of biomedical technology, robotics, and advanced manufacturing may expedite the spread of healthcare-assistive robots. However, effective regulations and costly healthcare assistance robots may provide an important hurdle to the industry's expansion in the upcoming years. Moreover, outrageous expenses associated with research and development and system development translate into higher final product pricing.
Browse key industry insights spread across 190 pages with 115 Market data tables and figures & charts from the report on the "Global Healthcare Assistive Robot Market Size, Share, and COVID-19 Impact Analysis, By Product (Surveillance & Security, Humanoid, Rehabilitation, and Socially Assistive), By Portability (Fixed Base and Mobile), By Application (Stroke, Orthopedics, Cognitive & Motor Skills, and Sports), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The rehabilitation segment dominates the market with the largest revenue share through the predicted timeframe.
Based on product, the global healthcare assistive robot market is segmented into surveillance & security, humanoid, rehabilitation, and socially assistive. Among these, the rehabilitation segment dominates the market with the largest revenue share through the predicted timeframe. Some of the factors that are expected to propel the industry's growth are rapid purchases of cutting-edge technologically sophisticated equipment in healthcare settings, an increase in healthcare investment, accessibility to innovative technology, and trained staff in restoration services.
The mobile segment dominates the fast growth rate in the global healthcare assistive robot market over the predicted timeframe.
Based on portability, the global healthcare assistive robot market is segmented into fixed base and mobile. Among these, the mobile segment dominates the fast growth rate in the global healthcare assistive robot market over the predicted timeframe. The large market share is linked to the various therapeutic assistance that mobile healthcare assistive robots offer to both patients and healthcare professionals. Mobile robots offer several benefits, chief among them improved accessibility for individuals who find it difficult to get to medical facilities.
The stroke segment dominates the global healthcare assistive robot market over the predicted timeframe.
Based on the application, the global healthcare assistive robot market is segmented into stroke, orthopedics, cognitive & motor skills, and sports. Among these, the stroke segment dominates the global healthcare assistive robot market over the predicted timeframe. The availability of cutting-edge healthcare assistance robots, enhanced recovery, greater medical availability during emergencies, etc., are the main reasons for the segment's growth. Healthcare professionals can detect changes in patients' conditions and provide timely interventions by using healthcare assistance robots to monitor motor function and vital signs.
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North America dominates the market with the highest market share over the forecast period.
North America dominates the market with the highest market share over the forecast period. Several variables, including assertive government actions, cautious investor awareness, and the ever-spreading uptake of technologically superior products within the healthcare industry, are attributed to this stranglehold. This region's innovative and technologically advanced approach to development has a major impact on its leading position in the healthcare assistive robot industry. These factors drive the healthcare assistive robot market's growth in this area over the projected time frame.
Asia-Pacific region is expected to grow rapidly over the forecast period. The presence of a medical device manufacturer in the area and the rise in the purchasing power of popular countries like China and India are both responsible for the market's expansion. Additionally, the growth of the market is fueled by an increase in research and development efforts regarding the advancement of innovative healthcare assistive devices. The market is expanding due to the increasing number of healthcare assistance robots being purchased in Japan. These variables propel the Asia Pacific healthcare assistive robot market's expansion during the anticipated period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global 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 Major vendors in the global healthcare assistive robot market are 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, and Other Key Players.
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Recent Developments
- In December 2022, Parker Hannifin Corporation's Human Motion and Control Business category, which includes the Indego product line, was acquired by Ekso Bionics.
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 Analysis
- 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 Middle East & Africa
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