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Healthcare Assistive Robot Market Size

Report ID: GMI1114
Published Date: May 2023
Report Format: PDF

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Healthcare Assistive Robot Market Size

Healthcare Assistive Robot Market size was valued at around USD 514 million in 2022 and is projected to reach over USD 3.2 billion by 2032 owing to increasing technological advancements and automation in the healthcare industry.

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Rising healthcare spending for providing better healthcare infrastructure, increasing disposable income, consistently increasing geriatric population, and surging automation levels in healthcare settings are some of the major factors responsible for increased adoption of healthcare assistive robot across the world. Moreover, advancements pertaining to healthcare assistive robot with regards to its applications, functionality, and accuracy will influence the business progression positively.

Healthcare assistive robots are robots designed to aid and support to patients and healthcare professionals in various medical settings. They are intended to enhance patient care and improve healthcare outcomes by increasing efficiency, reducing the workload of healthcare workers, and providing personalized care to patients.

Healthcare Assistive Robot Market Report Attributes
Report Attribute	Details
Base Year:	2022
Healthcare Assistive Robot Market Size in 2022:	USD 514.3 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	20.9%
2032 Value Projection:	USD 3.2 Billion
Historical Data for:	2018 to 2022
No. of Pages:	180
Tables, Charts & Figures:	370
Segments covered:	Product, Portability, Application, and Region
Growth Drivers:	Rapidly growing geriatric population Growing incidence of stroke worldwide Increasing funding for research on robotics technology Technological advancements in rehab robotics
Pitfalls & Challenges:	Functional limitations and high costs to restrict the assistive robots market Dearth of skilled healthcare professionals in developing economies

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However, functional limitations and high cost of healthcare assistive robots can be a significant barrier and impede the market growth in the coming years. Functional limitations of these robots can restrict their use in certain situations such as navigate complex environments or perform intricate tasks, thereby limits their use in some healthcare settings. Additionally, high cost of these robots is among the major factor that affects its adoption in developing countries. High research & development cost, and high cost of system leads to inflated cost of the final product. Moreover, limited companies are providing such advanced robotic systems and are priced at a higher level.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Healthcare assistive robot industry size was around USD 514 million in 2022 and will record over USD 3.2 billion by the end of 2032.

Rehabilitation healthcare assistive robot industry share was more than 41% in 2022 driven by factors like rapid adoption of technologically advanced robotic equipment in the healthcare sector, increase in healthcare spending, availability of advanced devices, and trained personnel in rehabilitation facilities.

The U.S. is dominating the North America healthcare assistive robots and will reach around USD 1.1 billion valuation by 2032 attributable to the presence of key market players, and an increase in the number of chronic diseases.

Barrett Technology, LLC, Cyberdyne, Inc., GaitTronics Inc., Hansen Medical, Inc., Hocoma AG, HONDA Motor Co. Ltd., Interactive Motion Technologies, Inc., ReWalk Robotics Ltd., SoftBank Robotics Corp., and OmniCell, among others.