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Healthcare Assistive Robot Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Healthcare Assistive Robot
How Large Will the Healthcare Assistive Robot Market Size By 2025?
The market size for healthcare assistive robots has seen exponential growth in recent years, predicted to increase from $1.32 billion in 2024 to $1.59 billion in 2025 with a compound annual growth rate (CAGR) of 20.6%. Factors such as an aging population, a rise in chronic diseases, support and funding from regulators, increased disposable income, a spike in sporting injuries, and an upsurge in medical tourism particularly in developing economies, have all contributed to growth during the historic period.
How Big Is the Healthcare Assistive Robot Market Size Expected to Grow by 2029?
There's an anticipated significant expansion in the healthcare assistive robot market in the coming years, with its value projected to reach $3.31 billion by 2029, growing at a compound annual growth rate (CAGR) of 20.2%. This predicted growth during the forecast period is due to factors such as a shortage of labour in the healthcare sector, escalating healthcare expenses, a stronger emphasis on patient care, a rising awareness about assistive requirements, and the broadening scope of telemedicine. The key trends expected during this period encompass technological evolution, progress in mobility solutions, application of artificial intelligence and machine learning, advancements in human-robot collaboration, and innovations in wearable technologies.
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Which Key Market Drivers Powering Healthcare Assistive Robot Market Expansion and Growth?
The escalation in orthopedic conditions is anticipated to boost the expansion of the healthcare assistive robot market. Orthopedic ailments encompass a wide variety of disorders that impact the musculoskeletal system, comprised of bones, joints, ligaments, tendons, muscles, and nerves. Healthcare assistive robots for these types of disorders provide mobility and rehabilitation support and carry out precise surgical operations, which improves patient care and recovery. For example, the Institute for Health Metrics and Evaluation (IHME), a US-based research organization, predicted in August 2023 that nearly 1 billion individuals will suffer from osteoarthritis, with instances of knee-related cases expecting a 75% rise and hand-related cases seeing a 50% increase by 2050. Thus, the rising prevalence of orthopedic disorders propels the advancement of the healthcare assistive robot market.
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Which Fast-Growing Trends Are Poised to Disrupt the Healthcare Assistive Robot Market?
Leading companies in the healthcare assistive robot industry are strategizing to increase their market profits by developing cutting-edge technologies like gait therapy software. This software provides a platform for robotic machines to aid patients with walking exercises, ultimately enhancing mobility and the results of rehabilitation. For example, in January 2024, a prominent robotic exoskeleton manufacturing firm in the US, Ekso Bionics Holdings Inc., introduced GaitCoach Software for EksoNR. This is a specialized clinical rehabilitation robotic outfit designed to assist with exoskeletal movements. The newfound gait therapy technology transforms conventional protocols by customizing sessions to the specific needs of patients, generating realtime, dynamic response, and offering precise guidance which echoes an extra clinical observer's input. This pioneer software, an upgrade on SmartAssist, substantially boosts the role of robotics in rehabilitation. This is demonstrated by the fact that 96% of seasoned EksoNR users consider it incredibly user-friendly and 93% appreciate its guidance to simplify usage.
What Are the Emerging Segments in the Healthcare Assistive Robot Market?
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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Healthcare Assistive Robot Industry?
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.
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