Assistive Robotics Market is valued at USD 3.96 Billion in 2018 and expected to reach USD 17.19 Billion by 2025 with the CAGR of 23.34% over the forecast period.
Increasing number of geriatric population and rising incidence of disabilities across the driving the assistive robotics market.
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 feeders, 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 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
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.
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 Segmentation –
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)
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.
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