What Has Been the Progress and Growth of the Healthcare Assistive Robot Market in Recent Years?
The healthcare assistive robot market has seen considerable growth due to a variety of factors.
• Over recent years, the market size for healthcare assistive robots has seen an exponential growth. The market, which is projected to increase from $1.32 billion in 2024 to $1.59 billion in 2025, is estimated to have a compound annual growth rate (CAGR) of 20.6%.
Factors contributing to this historic period of growth include an aging population, a rise in the prevalence of chronic diseases, supportive regulations and funding, an increase in disposable income, a surge in sports-related injuries, and the expansion of medical tourism in emerging economies.
What Can Be Expected from the Healthcare Assistive Robot Market Size?
The healthcare assistive robot market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of healthcare assistive robots is predicted to witness a dramatic escalation in the coming years. It is projected to inflate to $3.31 billion in 2029, growing at a compound annual growth rate (CAGR) of 20.2%.
Factors contributing to this growth in the forecasted period include a shortage of healthcare labor, spiraling healthcare expenses, heightened emphasis on patient care, increased awareness of assistance requirements, and the expansion of telemedicine. Key trends to look out for during this period involve technological progressions, advancements in mobility solutions, the integration of artificial intelligence and machine learning, progress in human-robot interaction, and innovation in wearable technology.
What Are the Critical Driver Fuelling The Healthcare Assistive Robot Market's Growth?
The escalating prevalence of orthopedic conditions is anticipated to fuel the expansion of the healthcare assistive robot market in the future. These disorders encompass a wide range of ailments impacting the musculoskeletal system, consisting of bones, joints, ligaments, tendons, muscles, and nerves. Assistive healthcare robots for orthopedic conditions aid in enhancing mobility, rehabilitation and executing precise surgical operations, thus improving patient care and the recovery process. For example, in August 2023, nearly 1 billion people will suffer from osteoarthritis as stated by the Institute for Health Metrics and Evaluation (IHME), an American research organization, with a projected increase in knee cases by 75% and hand cases by 50% by 2050. Hence, the escalating prevalence of orthopedic conditions significantly contributes to the expansion of the healthcare assistive robot market.
How Is The Healthcare Assistive Robot Market segmented?
The healthcare assistive robot market covered in this report is segmented –
1) By Type: Care Robot, Surgical Assistive Robot
2) By Portability: Fixed Base, Mobile
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Care Robot: Companion Robots, Rehabilitation Robots, Mobility Assistance Robots, Telepresence Robots, Hygiene And Sanitation Robots
2) By Surgical Assistive Robot: Robotic Surgical Systems, Robotic Endoscopic Systems, Robotic Orthopedic Systems, Robotic Assistance For Minimally Invasive Surgeries
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What Emerging Trends Are Influencing The Growth Of The Healthcare Assistive Robot Market?
Leading corporations in the healthcare assistive robot industry are driving innovation through the development of cutting-edge tools like gait therapy software, in a bid to maximize their profits. The specific function of this software is to chart out programmed instructions for robots, directing them to aid patients in walking exercises to boost mobility and enhance the effectiveness of rehabilitation. In a key move in January 2024, Ekso Bionics Holdings Inc., a firm based in the US that produces robotic exoskeleton, introduced their innovative GaitCoach Software specifically designed for their clinical wearable robot, EksoNR. This represented a major shift in gait therapy, given its imperative feature that enables customization of sessions as per individual patient requirements, its capacity to give immediate, changeable feedback and its ability to offer accurate guidance akin to an extra clinical observer. This pioneering software that took over from SmartAssist, has significantly optimized the incorporation of robotics in rehabilitation, as highlighted by 96% of seasoned EksoNR users who found it incredibly user-friendly, with 93% appreciating its guidance to simplify usage.
Who Are the Key Players In The Healthcare Assistive Robot Market?
Major companies operating in the healthcare assistive robot market are:
• HONDA Motor Co. Ltd.
• Johnson & Johnson
• Medtronic PLC
• ABB Ltd.
• Stryker Corporation
• TE Connectivity Ltd.
• Zimmer Biomet Holdings Inc.
• Fanuc Corporation
• Intuitive Surgical Inc.
• KUKA AG
• OmniCell Inc.
• Globus Medical Inc.
• SoftBank Robotics Group Corp.
• Kinova Inc.
• CMR Surgical Ltd.
• Diligent Robotics Inc.
• Cyberdyne Inc.
• Ekso Bionics Holdings Inc.
• AlterG Inc.
• Titan Medical Inc.
• ReWalk Robotics Ltd.
• Focal Meditech BV
• Barrett Technology
• Rex Bionics Ltd.
• Bionik Laboratories Corp.
What Is The Most Dominant Region In The Healthcare Assistive Robot Market?
North America was the largest region in the healthcare assistive robot market in 2024. The regions covered in the healthcare assistive robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
