Assistive Robots Market for Healthcare to Reach $38,367.65 Million Globally by 2031 at CAGR of 16.5%: Allied Market Research

The increase in the prevalence of spinal cord injuries and musculoskeletal disorders and the increase in the geriatric population suffering from orthopedic disorders are driving the growth of the global health-assistive robot market.

PORTLAND, Ore., January 24, 2023 /PRNewswire/ — Allied Market Research published a report entitled, Market for healthcare assistive robots by Type (Surgical Assistive Robot and Assistential Robot), Portability (Fixed and Mobile Base), and End User (Hospitals and Clinics, Rehabilitation Centers and Others) and Region (North America, Europe, Asia Pacificand LAMEA): Global opportunity analysis and industry forecast, 2022-2031″ According to the report, the global healthcare robot industry has generated US$ 8,316.23 million in 2021, and is estimated to reach US$ 38,367.65 million through 2031, witnessing a CAGR of 16.5% from 2022 to 2031. The report offers a detailed analysis of changes in market trends, key segments, key investment pockets, value chains, regional landscapes and competitive landscapes.

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Drivers, Constraints and Opportunities –

Increased investment by players in R&D and the presence of robust candidates in the pipeline increase in sports-related injuries and the increase in the adoption of assistive healthcare robots in rehabilitation therapies drive the growth of the global market for assistive healthcare robots. On the other hand, strict regulatory rules and high cost impede growth to some extent. However, the growth potential of emerging economies is expected to create lucrative opportunities in the industry.

covid-19 scenario

  • Interest in robots, drones and artificial intelligence has increased as a result of the novel coronavirus. Thus, positively impacting the growth of the healthcare robot industry.
  • In addition, the growth strategies of the main players helped the market to recover after the pandemic.

The surgical assistive robot segment to rule the roost

By type, the surgical assistive robots segment held the highest share in 2021, capturing around half of the global healthcare assistive robot market revenue due to the introduction of highly advanced robotic medical equipment and rising healthcare spending per capita, along with with ongoing technological developments, including robotic catheter management systems (CCS), data recorders, data analysis, remote navigation, motion sensors, 3D imaging, and HD surgical microscopic cameras. The Attendance Robots segment would experience the fastest CAGR of 18.6% during the forecast period. the development of several technological innovations to help and reduce the burden of professionals, unpaid caregivers and patients, driving the growth of the segment.

The fixed base segment to maintain its dominance during the forecast period

By portability, the fixed-base segment contributed the largest share in 2021, accounting for about a quarter of global healthcare robot market revenues. due to the increased use of these robots in the healthcare sector because of their expressive movements, reliable productivity, consistent accuracy, effectiveness in challenging environments, and ability to withstand collisions and stress. The mobile segment would show the fastest CAGR of 17.5% during the forecast period. This is attributed to the majority of companion robots available in mobile robots, which increases the demand for mobile robots, thus increasing the growth of the market.

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The hospitals and clinics segment will dominate until 2031

By end-user, the hospitals and clinics segment accounted for nearly two-thirds of the global share of the healthcare robot market in 2021 and is expected to dominate the roost by 2031. Growing consumer demand for better healthcare facilities for seniors in hospitals. The other segment would exhibit the fastest CAGR of 17.9% over the entire forecast period. This is due to the increase in the geriatric population, along with the increasing prevalence of target diseases such as dementia and Alzheimer’s.

North America conquered most in 2021-

By region, North America gained the highest share in 2021, holding nearly half of the global healthcare assistive robot market revenue in 2021, and is expected to maintain its dominance through 2031. among people regarding the innovative and advanced use of robotics. The Asia Pacific region would portray the fastest CAGR of 18.5% during the forecast period. Rapid increase in population and rising economy of Asia Pacific boosted market growth.

Main market players

  • Barrett Technology, LLC
  • Bionik Laboratories
  • Cyberdyne, Inc.
  • Ekso Bionics Holdings, Inc.
  • Focal Meditech
  • GaitTronics Inc.
  • Hocoma AG
  • HONDA Motor Company Ltd.
  • KUKA AG
  • ReWalk Robotics Ltd.
  • Intuitive Surgical, Inc.

The report analyzes these key players in the global healthcare assistive robots market. These players have adopted various strategies such as product launch, approval and product acquisition to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the performance of each market participant’s business, operating segments, developments and product portfolios.

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SOURCE Allied market research

Assistive Robots Market for Healthcare to Reach $38,367.65 Million Globally by 2031 at CAGR of 16.5%: Allied Market Research

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