The Healthcare Companion Robots Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Healthcare Companion Robots Global Market Report 2024, The healthcare companion robots market size has grown exponentially in recent years. It will grow from $5.17 billion in 2023 to $6.23 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The growth in the historic period can be attributed to acceptance and integration, educational and therapeutic applications, improved human-robot interaction, labor shortages in healthcare, reducing human-to-human contact..
The healthcare companion robots market size is expected to see rapid growth in the next few years. It will grow to $12.46 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to advancements in robotics and ai, personalized healthcare services, mental health awareness, enhanced rehabilitation support, cost-efficiency.. Major trends in the forecast period include integration of ai, technological advancements, product innovations, strategic collaborations.
Rise in the ageing population is expected to drive the growth of the healthcare companion robots market. With the rise in elderly population, there is increase in demand for companion robots as they are designed to stay closer to home and to take care of aged people. Governments of various countries are also taking initiatives to promote the use of healthcare companion robots. For example, in 2022, New York State is partnering with Intuition Robotics, an Israel-based software company, to provide such robots to nearly 500 people. The aged population is rapidly growing across the world and is expected to grow over the forecast period. By 2030, 1 out of 6 people will be aged 60 years or over in the world. The number of people aged 60 and above is expected to double by 2050. (2.1 billion). In 2050, there will be 426 million more people 80 or older than today. Therefore, the rise in the ageing population is expected to drive the growth of the healthcare companion robots market during the forecast period.
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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
Technological advancement is a key trend in the healthcare companion robots market. The manufacturers of healthcare companion robots are concentrating on the introduction of cutting-edge technologies that can meet the emotional and personal demands of patients. For example, in June 2021, Hanson Robotics, a Hong Kong-based robotics and engineering company, launched a new healthcare robot, Grace, to interact with those isolated by the COVID-19 pandemic and the elderly people. Also, in March 2022, Intuition Robotics, an Israel-based software company, launched ElliQ, a digital care companion. ElliQ is a healthcare companion robot which motivates old people to live healthier lives by accompanying them on their journey to age independently.
The healthcare companion robots market report table of contents includes:
- Executive Summary
- Healthcare Companion Robots Market Characteristics
- Healthcare Companion Robots Market Trends And Strategies
- Healthcare Companion Robots Market – Macro Economic Scenario
- Global Healthcare Companion Robots Market Size and Growth
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- Global Healthcare Companion Robots Market Competitive Benchmarking
- Global Healthcare Companion Robots Market Competitive Dashboard
- Key Mergers And Acquisitions In The Healthcare Companion Robots Market
- Healthcare Companion Robots Market Future Outlook and Potential Analysis
- Appendix
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