Healthcare Assistive Robot Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Robots tend to make work easier and give accurate results, thus making work more efficient and to the time it is required to be completed. Due its error-free characteristic, many researches have been conducted across the globe to take the technology further and employ in various sectors. In the healthcare sector, robots have proven to be very useful as they help in overlooking several operations in numerous healthcare centers and hospitals such as monitoring patient’s activities. They achieve this by a controlled set up and design and hence help in enhancing the quality of life of patients admitted in hospitals and healthcare centers.
Healthcare assistive robots are intelligent in nature as they indulge themselves in interactions with patients in a robot and human interaction environment and thus triggering affective, cognitive, and social functioning of the patients. The growth of the global healthcare assistive robot market is expected to be supported by the mounting geriatric population across the globe and the growing demand for services related to geriatric care.
The growth of the global healthcare assistive robot market is anticipated to be further supplemented by favorable and flexible government regulations and rising funding in healthcare automation and robotic research. In order to make healthcare assistive robots more prominent among healthcare centers and hospitals, the leading companies have joined hands with governments and non-government organizations in order to increase education regarding the benefit of these robots.
Robots function in an error-free manner and this characteristic has, over the past few years, enticed researchers to develop the technology further. In recent times, robots have proven their worth in the healthcare sector as they can monitor activities of the patients and determine the emotional as well as physical state, and consequently the intent of the patients. Robots achieve this via control architectures and are capable of improving the quality of life of the elderly. Healthcare assistive robots are intelligent assistive robots that can indulge with the patients in social human-robot interactions (HRI) and thereby enhance residual social, cognitive, and affective functioning. As the healthcare industry touches new peaks with every passing year, innovations like robot assistance have been thoroughly welcomed. Concurrently, the global healthcare assistive robot market is projected for a robust growth rate during the forecast period of 2017 to 2025.
This report on the global healthcare assistive robot market is an elaborate study of the current scenario and based on all the major factors and trends that are primed to impact the growth rate, it presents estimates of the future scenario of the market. One of the key features of the report is its section on company profiles, wherein several major players operating in the healthcare assistive robot market have been analyzed for their latest products, regional outreach, market share, and revenue.
The global healthcare assistive robot market can be segmented on the basis of product, portability, application, and geography. In terms of product, the market can be divided into surveillance and security, humanoid, socially assistive, and rehabilitation. By portability, the market can be categorized into fixed base and mobile. Application-wise, it can be segmented into stroke, cognitive and motor skills, orthopedics, and sports. Geographically, the report studies the lucrativeness of the regional markets of North America, Asia Pacific, Europe, and Rest of the World.
Rapidly growing geriatric population is the primary driver of this market, as people aged above 65 years generally lack the physical fitness for daily activities and often suffer from diseases that require regular monitoring. According to the National Institute of Aging, 8.5% of the world’s population was aged over 65 years in 2016 and the number is estimated to reach 17.0% by the end of 2050, amounting for nearly 1.6 billion people. Several governments across developed nations have noted the benefits of robots in healthcare and hence are offering incentives, particularly when the assistance is provided to patients with disabilities. This factor, along with growing awareness pertaining to the availability of these robots, is expected to boost the healthcare assistive robot market during the forecast period.
The U.S., backed by government support, currently dominates the North America market and is expected to remain the most lucrative region throughout the forecast period. Japan is another highly profitable country-wise market, favored by high percentage of geriatric population and adoptability of new technology. Germany leads the Europe market for healthcare assistive robots.
The global healthcare assistive robot market is fragmented with the presence of a large number of small players. The industry is in an incipient stage with numerous startups presenting immense potential for growth. Cyberdyne, Hansen Medical, HONDA Motor, and KUKA Robot Group are some of the prominent names in this industry, using their financial might and popular products to gain a larger share in the market. Some of the other healthcare assistive robot market players are Ekso Bionics, Hocoma, GaitTronics, Kinova Robotics, ReWalk Robotics, and Bionik.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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