Overview and Scope
Healthcare assistive robots are intelligent machines designed to help individuals with disabilities, the elderly, or those requiring care by performing mobility support, patient monitoring, and rehabilitation exercises. They enhance healthcare delivery by assisting with physical tasks, providing companionship, and enabling remote health monitoring and communication. These robots improve quality of life, foster greater independence, and reduce the workload on healthcare professionals.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The healthcare assistive robot market report table of contents includes:
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