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2021
Healthcare Assistive Robot Market

Healthcare Assistive Robot Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

A10981
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Dec 2021 | 490 Views
   
Author(s) : Onkar Sumant
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COVID-19

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Assistive robots have the potential to provide support for a range of care-related tasks such as physical and social assistance, physiotherapy and rehabilitation. Healthcare assistive robots have computerized reasoning by nature since they entertain themselves with collaborations with patients that incites subjective, social parts of patients. Healthcare assistive robots have a lot of usefulness inferable from their mistake free qualities and have ended up being helpful in deciding a few tasks in healthcare focuses and clinics, for example, reviewing patient’s exercises and method of analysis. Assistive rehabilitation robots are expected to largely benefit the elderly, injured, and disabled since they provide both, movement controllability and the measurement reliability, which renders them ideal for quick rehabilitation. Increasing awareness among people regarding assistive robots coupled with increasing healthcare expenditure will further accelerate the healthcare assistive robot business growth.

Market scope and structural analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Application, End-users, Region.

  Geographies covered

•North America (U.S., Canada, Mexico)

•Europe (France, Germany, UK, Italy, Spain, Rest of Europe)

•Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)

•LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

  Companies covered

Barrett Technology, LLC, Cyberdyne, Inc., Ekso Bionics Holdings, Inc., GaitTronics Inc., Hansen Medical, Inc., Hocoma AG, HONDA Motor Co. Ltd., Interactive Motion Technologies, Inc., Kinova Robotics, ReWalk Robotics Ltd., SoftBank Robotics Corp.

 

Covid-19 Scenario analysis:

The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The number of infections and deaths from COVID-19 is still growing, and the duration of the pandemic is still difficult to predict. Following a slowdown in global demand of industrial robots due to the COVID-19 pandemic, it is expected that the major industrial robot vendors will struggle during the year 2020. The novel coronavirus has increased interest in robots, drones, and artificial intelligence. These technologies can help deal with massive staffing shortages in healthcare, manufacturing, and supply chains; the need for social distancing; and diagnosis and treatment. For example, service robotics play a vital role in healthcare, they minimize human intervention at all levels, starting from patient examination to patient care and drug delivery mechanism. The virus has been a good opportunity for companies to display robots for public applications. Public Relations, Rescue and Security, Inspection, Cleaning, Monitoring, and Detection are all key aspects of containing the pandemic. Disinfection robot UVD for example has been in high demand since the outbreak of COVID-19 pandemic.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact analysis:

Drivers:

Increase in geriatric population:

Loneliness and social isolation are already problems for many seniors and are even linked to cognitive decline and a higher death rate. With the population of seniors expected to rise, many worry that experiences of loneliness will increase, especially if access to care is even more limited. A class of social robots – mobile robotic telepresence (MRT) systems – have already been shown to generate positive social interactions with elderly patients. MRTs are essentially video screens on wheels raised to head height that can be controlled remotely using a simple smartphone app. They allow relatives and social workers to “visit” elderly people more often, even if they live in rural or distant places. The elderly patient doesn’t need to operate the device, leaving them free to interact with their social worker or family. This will boost the Geriatric care robots market and it has high scope in future market.

Accurate results and specialized care:

Robots tend to make work easier and give accurate results, thus making work more efficient and to the time it is required to be completed. Due its error-free characteristic, many researches have been conducted across the globe to take the technology further and employ in various sectors. In the healthcare sector, robots have proven to be very useful as they help in overlooking several operations in numerous healthcare centres and hospitals such as monitoring patient’s activities. They achieve this by a controlled set up and design and hence help in enhancing the quality of life of patients admitted in hospitals and healthcare centres. Healthcare assistive robots are intelligent in nature as they indulge themselves in interactions with patients in a robot and human interaction environment and thus triggering affective, cognitive, and social functioning of the patients.

Restrains:

High cost of robotics:

The fact that they are very expensive, take more time for procedures, and are placed under stricter guidelines than other more common methods is a large disadvantage in robotics for healthcare. Between the researches, the equipment, the training, and much more, the costs add up quickly that might hinder the market growth

Regional analysis:

North America healthcare assistive robot market dominated the global market revenue share. The high segment growth is attributed to the increasing prevalence of stroke and neurological disorders in the region coupled with increasing investment in healthcare and growing awareness among people regarding innovative and advanced use of robotics. Moreover, initiatives of organizations such as the University of Texas at Arlington and the UTA Research Institute to bridge the gap between academic research and product development in the field of biomedical technologies, robotics and advanced manufacturing will further accelerate the regional industry growth. Asia Pacific healthcare assistive robot market is estimated to witness growth at lucrative CAGR over the forecast period. The growth can be attributed to an increase in healthcare incentives and funds provided by various government organizations, favourable healthcare reforms and increased patient awareness about assistive robots. Increasing focus of regional industry players on developing advanced healthcare assistive robots another contributing factor in the business growth. For instance, Cyberdyne, a robotics company and Japan’s Tsukuba University developed Hybrid Assistive Limb (HAL) a powered exoskeleton suit for people with physical disabilities.

Key segments covered:

Segments

Sub-segments

  Type

  • Surveillance
  • Security
  • Humanoid
  • Rehabilitation
  • Socially Assistive

  Application

  • Stroke
  • Orthopaedics
  • Cognitive & Motor Skills
  • Sports
  • Others

  End Users

  • Hospitals
  • Individual use
  • Care centers
  • Government
  • Others

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Healthcare assistive robot industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Healthcare assistive robot market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Healthcare assistive robot market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global Healthcare assistive robot market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Healthcare assistive robot Market research report:

  • What are the leading market players active in the Healthcare assistive robot market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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