A recent report on Assistive Robotics Market provides a detailed analysis of the industry size, revenue forecasts, and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Assistive Robotics Market is valued at USD 6.02 Billion in 2020 and expected to reach USD 26.16 Billion by 2027 with the CAGR of 23.34% over the forecast period.
Scope of Assistive Robotics Market-
An assistive robotics are devices those can sense, process sensory information, and execute actions those benefit to older adults and people with disabilities in the course of their daily living. Various types of devices are available as a robotic feeder, independent mobile robots, smart-powered wheelchairs and socially assistive robots are becoming more clinically relevant. An assistive robot performs a physical task for the well-being of a person, task is embedded in the context with normal human daily living activities of person with the disability controls by functioning of the robot. For instance, daily activities including dressing, taking medications, bathing & showering, food preparation & eating, socializing, mobility, personal hygiene & grooming, housework, managing money, communicating, using technology, shopping, pet care, child rearing, engaging in religious observances, playing, vacationing, working, exercising, reading, relaxing, pursuing and education among others. The first reported use of a robot-assisted surgical procedure had in 1985 when the PUMA 560 robotic surgical arm was used to perform delicate neurosurgical biopsy and a non-laparoscopic surgery.
Assistive robotics market report is segmented based on mobility, type, application and by regional & country level. Based upon mobility, assistive robotics market is classified into stationary, mobile. Based upon type, assistive robotics market is classified into physically assistive robots, socially assistive robots and mixed assistive robots. Based upon application, assistive robotics market is classified into elderly assistance, companionship, handicap assistance, surgery assistance, industrial, defense, public relations and others (construction, space, agriculture, education and sports and fitness)
The regions covered in this assistive robotics market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of assistive robotics is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Assistive Robotics Companies
Focal Meditech, Cyberdyne, Intuitive Surgical, F&P Robotics, ReWalk Robotics, SoftBank Robotics, Ekso Bionics, Ubtech Robotics, Barrett Technology, Hyundai, Stryker, Hocoma, Blue Frog Robotics, DreamFace Technologies, Double Robotics, Fourier Intelligence, CT Asia Robotics, Kinova Robotics, Intuition Robotics, Mojin Robotics, Axosuits, Japet Medical Devices, Hanson Robotics, Motorika, Rex Bionics
BIONIK Laboratories Corp Announces InMotion ARM received regulatory approval in South Korea
News: In January 2020, BIONIK Laboratories Corp. Announces InMotion ARM received regulatory approval in South Korea. BIONIK Laboratories Corp is the toronto-based the rehabilitation robotics specialist company. South Korean regulatory approval enables company to commercially sell the product through its exclusive distributor, Curexo in the country. InMotionARM therapy enables healthcare professionals to efficiently deliver intensive motor therapy that help patients to regain motor function following injury or neurological condition. This new generation InMotion ARM is developed on evidence-based neurorehabilitation technology that provides patients with real-time assistance-as-Needed. This approval help BIONIK to enhance its presence in South Korea where more than 100,000 population suffer from stroke-related mobility challenges.
Assistive Robotics Market Dynamics –
Increasing incidences of spinal cord and strokes injuries are one of the significant factors driving the growth of assistive robotics market. Additionally, increasing geriatric population across the world and rising insurance coverage for medical exoskeletons and robotic surgeries is another factor driving market growth. For instance, as per the UN’s population estimates that the world geriatric population will reach 2.1 billion by 2050. This factor creates the need of rehabilitation robots to assist the geriatric population and driving the growth of market. Moreover, increasing number of disabled populations also fueling the growth of market. For instance, as per The World Report World Health Organization (WHO) and the World Bank, reveals that around 785 million population at the age of 15 and above live with a disability across the world. On the flip side, high cost of therapy may hinder the growth of market. Nevertheless, increasing per capita income and spend on health may create lucrative growth in market over the forecast period.
Assistive Robotics Market Regional Analysis –
Among regions, North America is dominating the assistive robotics market owning to supportive reimbursement scenario and high per capita health expenditure. For instance, as per the data in 2017, per capita health expenditure in the United States was around USD 9,000, which represents the highest value in the world by a wide margin. Moreover, adoption rate for advanced medical technologies is very high among regions.
The assistive robotics market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increases awareness about progressive disorders such as Alzheimer’s and Parkinson’s. Additionally, increases in prevalence of disabilities in the region creating the demand of assistant robotic technologies. For instance, as per the report od United Nation, region is anticipated to account for 60% of the world’s disabled population. Moreover, evolving healthcare infrastructure in developing countries such as India and China will aid the expansion of the global market in the region.
Key Benefits for Assistive Robotics Market Reports –
Global Market report covers in depth historical and forecast analysis.
Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Market report helps to identify opportunities in market place.
Global Market report covers extensive analysis of emerging trends and competitive landscape.
Assistive Robotics Market Segmentation –
By Mobility- Stationary, Mobile
By Type- Physically Assistive Robots, Socially Assistive Robots, Mixed Assistive Robots
By Applications - Elderly Assistance, Companionship, Handicap Assistance, Surgery Assistance, Industrial, Public Relations, Others (Construction; Space; Agriculture; Education; and Sports and Fitness)
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa.