Press release
Healthcare Assistive Robot Market Set to Reach $3.31 Billion by 2029 with 20.2% Yearly Growth
Healthcare Assistive Robot Market
The escalating prevalence of orthopedic conditions is anticipated to stimulate the expansion of the healthcare assistive robot market in the future. Orthopedic diseases encompass a wide range of ailments that impact the musculoskeletal system, comprising bones, joints, ligaments, tendons, muscles, and nerves. Assistive healthcare robots for orthopedic conditions facilitate mobility and rehabilitation, and enable accurate surgical procedures, thereby promoting enhanced patient care and recovery. For instance, the Institute for Health Metrics and Evaluation (IHME), a US-based research institution, predicted in August 2023 that close to 1 billion people will suffer from osteoarthritis, and that the incidence of knee cases will surge by 75% and hand cases by 50% by 2050. Thus, the escalating prevalence of orthopedic disorders is fuelling the expansion of the healthcare assistive robot market.
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What growth opportunities are expected to drive the healthcare assistive robot market's CAGR through 2034?
The size of the healthcare assistive robot market has seen exponential growth recently. Its size is projected to expand from $1.32 billion in 2024 to $1.59 billion in 2025, a compound annual growth rate (CAGR) of 20.6%. Factors contributing to this growth during the historical period include the aging population, a rise in chronic disease incidence, regulatory backing and funding, growth in disposable income, an increase in sports-related injuries, and medical tourism growth in emerging economies.
A significant expansion is anticipated in the healthcare assistive robot market in the forthcoming years. The market is predicted to reach a valuation of $3.31 billion in 2029, with a compound annual growth rate (CAGR) of 20.2%. The growth throughout the forecasted period can be credited to factors such as an increase in healthcare labor shortages, surging healthcare expenses, heightened focus on patient care, the rise in awareness of assistive necessities, and telemedicine expansion. Key trends during this projected period include the progression in technology, development in mobility solutions, the incorporation of AI and machine learning, advancements in human-robot interaction, and inventions in wearable technologies.
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What are the emerging trends shaping the future of the healthcare assistive robot market?
Leading firms in the healthcare assistive robot market are cultivating unique technologies such as gait therapy software to enhance their market profitability. Gait therapy software involves specific programs that direct robots to assist patients with walking exercises, with the goal of enhancing mobility and rehabilitation results. For example, Ekso Bionics Holdings Inc., an American company specializing in robotic exoskeletons, introduced GaitCoach Software for EksoNR in January 2024. This software is designed for a clinical rehabilitation wearable robot aimed at providing exoskeletal assistance. The software revolutionizes gait therapy by enabling sessions to be customized for each patient, offering immediate, dynamic feedback, and providing accurate guidance similar to an extra clinical observer. The innovative software, succeeding SmartAssist, elevates the incorporation of robotics in rehabilitation which is evident in 96% of seasoned EksoNR users finding it highly intuitive and 93% appreciating its guidance in simplifying usage.
Which growth-oriented segments of the healthcare assistive robot market are leading the industry's development?
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 regions are leading the charge 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.
What companies are at the forefront of innovation 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.
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What Is Covered In The Healthcare Assistive Robot Global Market Report?
•Market Size Forecast: Examine the healthcare assistive robot market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the healthcare assistive robot market for a structured understanding.
•Key Players Overview: Analyze major players in the healthcare assistive robot market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the healthcare assistive robot market.
•Segment Contributions: Evaluate how different segments drive overall growth in the healthcare assistive robot market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the healthcare assistive robot market.
•Industry Challenges: Identify potential risks and obstacles affecting the healthcare assistive robot market.
•Competitive Landscape: Review strategic developments in the healthcare assistive robot market, including expansions, agreements, and new product launches.
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