Press release
Navigating the Future: Healthcare Companion Robots Market Trends and Forecast Insights, 2025 Edition
Healthcare Companion Robots Market
Healthcare Companion Robots Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a significant expansion in the market size of healthcare companion robots. The market, which stood at $6.18 billion in 2024, is predicted to rise to $7.43 billion by 2025, showing a compound annual growth rate (CAGR) of 20.1%. Factors contributing to this growth during the historic period include acceptance and incorporation, its uses in education and therapy, enhanced interaction between humans and robots, labor deficiencies in the healthcare sector, and the reduction in direct human contact.
How Will the Healthcare Companion Robots Market Size Evolve and Grow by 2029?
Expectations are high for the swift expansion of the healthcare companion robots market in the upcoming years. The market forecast predicts a surge to $14.67 billion by 2029, attaining a compound annual growth rate (CAGR) of 18.5%. The projected growth in this period is mainly due to breakthroughs in robotics and artificial intelligence, tailored healthcare services, heightened awareness around mental health, improved rehabilitation support, and cost-efficiency. Major trends for the forecasted period encompass the integration of artificial intelligence, technological progress, product innovations, and strategic alliances.
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What Drivers Are Propelling the Growth of Healthcare Companion Robots Market Forward?
The growth of the healthcare companion robots market is anticipated to be fueled by the increasing elderly population. The demand for companion robots, which are specifically created to assist and remain close to older people, is growing in tandem with the ageing population. Notably, several governments worldwide have begun endorsing the implementation of healthcare companion robots, such as New York State's collaboration in 2022 with Israeli software company Intuition Robotics to provide said robots to approximately 500 individuals. Globally, the elderly population continues to rise at a swift pace and anticipated growth is projected over the forecast period. By 2030, seniors will comprise one sixth of the world's population, with the population of individuals aged 60 and over expected to double by 2050, reaching 2.1 billion. In 2050, there will be an increment of 426 million people aged 80 or older compared to today. Consequently, the escalating elderly population is predicted to engender the expansion of the healthcare companion robots market throughout the forecast period.
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Which Emerging Trends Are Transforming the Healthcare Companion Robots Market in 2025?
Leading enterprises in the healthcare companion robot market are emphasizing on innovative technologies such as advanced sensors to boost patient monitoring, enhance interaction capabilities, and offer personalized healthcare solutions. These advanced sensors are sophisticated instruments that collect and process intricate data from their surroundings, and often incorporate technologies like AI and IoT for heightened functionality and precision. For example, in February 2023, Elephant Robotics Technology Co., Ltd, a Chinese firm specializing in robot research and development, introduced a product called MetaCat. This device is fitted with numerous touch sensors, voice recognition features, and expressive LED lights. These attributes enable the device to mimic a cat's purring sounds, meows, and eye movements, which amplify its realistic features.
What Are the Key Segments in the Healthcare Companion Robots Market?
The healthcare companion robots market covered in this report is segmented -
1) By Type: Animal-like Robots, Humanoid Robots
2) By Age Group: Children, Adult, Geriatric
Subsegments:
1) By Animal-Like Robots: Robotic Pets, Therapy Animals, Interactive Animal Simulators
2) By Humanoid Robots: Social Companion Robots, Assistance Robots For Elderly Care, Rehabilitation Robots
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Who Are the Key Players Shaping the Healthcare Companion Robots Market's Competitive Landscape?
Major companies operating in the healthcare companion robots market are Blue Frog Robotics SAS, Intuition Robotics Ltd., inGen Dynamics Inc., No Isolation AS, Luvozo Inc., Honda Motor Co. Ltd., Hanson Robotics Limited, Ubtech Robotics Corp. Ltd., Emotix Inc., Aeolus Robotics Inc., Catalia Health Inc., Care Coach Inc., Diligent Robotics Inc., F&P Robotics AG, Giraff Technologies AB, Hstar Technologies Company Ltd., Leka SAS, iRobot, SoftBank Robotics, Toyota, Paro Robots, Savioke, Nuro, Temi
What Geographic Markets Are Powering Growth in the Healthcare Companion Robots Market?
North America was the largest region in the healthcare companion robots market share in 2024. The regions covered in the healthcare companion robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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