Press release
Robotic Nurse Assistant Market Is Predicted To Grow At A CAGR Of 17.4% Through 2032
The robotic nurse assistant market is expected to be worth USD 923.91 million in 2022, with a CAGR of 14.7% from 2022 to 2032. By 2032, the market is expected to be worth USD 3641.36 million.The growing worldwide population of the elderly is driving up demand for robotic nursing assistants for varied daily support duties. The increased investment in R&D to produce technologically superior robots for healthcare institutions is expected to enhance demand for robotic nurses in the future years.
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Another reason driving growing demand for robotic nursing assistants is increased investment and financing for the development of technologically advanced nurse-assisting robots that can successfully perform a nurse's daily responsibilities. Because a greater number of patients were hospitalized as a result of the COVID-19 epidemic, demand for robotic nurse assistants for patients surged. While caring for COVID-19-infected patients, the robots also helped to preserve social distance, which encouraged the growth of the robotic nurse assistant market at the time.
Competitive Landscape:
To enhance their market share, robotic nursing assistant market participants are pursuing strategic initiatives like as partnerships, mergers and acquisitions, collaborations, and product launches. As hospitals and healthcare facilities employ robotic nursing assistants, the market for robotic nurse assistants is expanding.
Companies participating in the worldwide robotic nurse assistant industry include RIKEN-TRI Collaboration Center for Human-Interactive Robot Research, GeckoSystems International Corporation, Hitachi, Hstar Technologies, JoiceCare AB, Fraunhofer IPA, and Georgia Tech.
Key Players:
• Hstar Technologies
• Diligent Robotics
• Toyota Motor Corporation
• RIKEN-SRK
• SoftBank Robotics
• Panasonic
• Fraunhofer IPA
• Aethon
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Regional Analysis:
North America dominated the market in 2021, with a revenue share of more than 35.0%, and it is expected to continue to expand at a profitable pace over the forecast period. Some of the primary elements driving North America's revenue growth include the availability of high-quality healthcare facilities, hospitals' strong buying power to invest in these systems, enhanced insurance company partnerships, and an increase in people seeking superior healthcare services. The increased necessity to maintain a nurse-to-patient ratio is also driving the region's need for robot-based aides.
Because of the region's large senior population, Asia Pacific is expected to have the highest CAGR of 16.2% throughout the projection period. Furthermore, the region's developing healthcare sector and increased R&D investment on robotics systems are driving market growth.
Because of the emergence of AI, IoT, and machine learning, as well as the region's rising 5G network adoption, the market for robotic nursing assistants currently has more opportunity to launch new solutions.
Key Segments of Industry:
• By Product Type:
o Independence Support Robots
o Daily Care & Transportation Robots
o Pharma Automation Robot
• By End-use:
o Hospitals & Clinics
o Senior Care Facilities
o Homecare Settings
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