Healthcare Assistive Robot Market Expansion 2024-2033: Growth Drivers and Dynamics

The healthcare assistive robot global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Healthcare Assistive Robot Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The healthcare assistive robot market size has grown exponentially in recent years. It will grow from $1.09 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%.  The growth in the historic period can be attributed to aging population, increasing chronic disease prevalence, regulatory support and funding, increasing disposable income, rise in sports-related injuries, growth in medical tourism in developing economies.

The healthcare assistive robot market size is expected to see exponential growth in the next few years. It will grow to $2.75 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%.  The growth in the forecast period can be attributed to labor shortages in healthcare, rising healthcare costs, increased focus on patient care, growing awareness of assistive needs, expansion of telemedicine. Major trends in the forecast period include technological advancements, advancements in mobility solutions, integration of ai and machine learning, advances in human-robot interaction, innovation in wearable technologies.

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Scope Of Healthcare Assistive Robot Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Healthcare Assistive Robot Market Overview

Market Drivers –
The increasing incidence of orthopedic disorders is expected to propel the growth of the healthcare assistive robot market going forward. Orthopedic disorders refer to a broad category of conditions that affect the musculoskeletal system, which includes bones, joints, ligaments, tendons, muscles, and nerves. Healthcare assistive robots for orthopedic disorders help support mobility and rehabilitation and perform precise surgical procedures, thereby enhancing patient care and recovery. For instance, in August 2023, according to the Institute for Health Metrics and Evaluation (IHME), a US-based research institution, nearly 1 billion people will experience osteoarthritis, with knee cases increasing by 75% and hand cases by 50% by 2050. Therefore, the increasing incidence of orthopedic disorders is driving the growth of the healthcare assistive robot market.

Market Trends –
Major companies operating in the healthcare assistive robot market are developing innovative technologies, such as gait therapy software, to increase their profitability in the market. Gait therapy software refers to specialized programs that guide robots in assisting patients with walking exercises, aiming to improve mobility and rehabilitation outcomes. For instance, in January 2024, Ekso Bionics Holdings Inc., a US-based robotic exoskeleton manufacturer, launched GaitCoach Software for EksoNR, a clinical rehabilitation wearable robot designed for exoskeletal assistance. This revolutionized gait therapy with its capability to tailor sessions to individual patient needs, provide real-time, dynamic feedback, and deliver precise guidance akin to that of an additional clinical observer. This innovative software, which succeeds SmartAssist, enhances the integration of robotics in rehabilitation, as evidenced by 96% of experienced EksoNR users finding it highly intuitive and 93% valuing its guidance for simplifying usage.

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

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Regional Insights –
North America was the largest region in the healthcare assistive robot market in 2023. The regions covered in the healthcare assistive robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
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.

Table of Contents
1. Executive Summary
2. Healthcare Assistive Robot Market Report Structure
3. Healthcare Assistive Robot Market Trends And Strategies
4. Healthcare Assistive Robot Market – Macro Economic Scenario
5. Healthcare Assistive Robot Market Size And Growth
…..
27. Healthcare Assistive Robot Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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