Availability of insurance coverage for robotic surgeries and medical exoskeletons is driving market revenue growth, Assistive Robotics Market Size to Reach USD 25.16 Billion in 2028

Assistive Robotics Market trend

Market Size – USD 5.05 Billion in 2020, Market Growth – at a CAGR of 22.1%, Market Trends – High demand from healthcare sector

The global assistive robotics market size is expected to reach USD 25.16 billion in 2028 and register a CAGR of 22.1% over the forecast period, according to the latest report by Reports and Data. Rising geriatric population and increasing need to improve quality of life of senior citizens are set to drive assistive robotics market revenue growth in the near future.

Some major companies in the market report include Robby Focal Meditech, ReWalk Robotics, Kinova Robotics, Intuitive Surgical, Barrett Technology, Stryker, Ekso Bionics, Hyundai, Cyberdyne, and DreamFace Technologies.

As per the World Health Organization (WHO), in 2017, there were around 962 million persons above the age of 60 years globally, and this number is expected to reach 2.1 billion by 2050. Assistive robotics offer support for various care-related tasks such as social and physical assistance as well as rehabilitation and physiotherapy. Increasing incidence of strokes and spinal cord injuries are also expected to drive demand for assistive robotics such as exoskeletons.

Download sample @ https://www.reportsanddata.com/sample-enquiry-form/4610

Robots make work easier and provide accurate results. Healthcare assistive robots have proved to be useful in fulfilling various tasks in clinics and hospitals, and can also aid in reviewing exercises being prescribed to patients and method of analysis. Assistive robotics provide movement controllability and measurement reliability, which in turn, is beneficial for elderly individuals and can be helpful in recovering quickly from various illnesses and reduce disability. Governments and private companies are investing significantly in the healthcare sector, and this coupled with rising awareness among individuals regarding assistive robotics is expected to drive market revenue growth.

However, assistive robotics are cost-intensive. Research, equipment, and training programs are also expensive and these are factors expected to hamper market growth. Besides, lack of social awareness regarding the benefits of assistive robotic systems and implementation of stringent norms and standards in the healthcare sector are also expected to hamper market revenue growth in the coming years.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/assistive-robotics-market

Some Key Highlights from the Report

  • In February 2021, Innophys Co., Ltd. released its latest wearable work-assisting robotic suit named ‘MUSCLE SUIT Every’ in China. The company launched this product to expand its position in the market in China. The company is planning to collaborate with local sales agents to promote its products in the country. This new product is designed to be used extensively in the manufacturing sector and at nursing care sites.
  • Physically assistive robots segment accounted for a significantly large revenue share in 2020. These robots help individuals suffering from injuries and medical conditions that limit lower or upper body movements. These are mainly used in rehabilitation centers to help recovering individuals who have previously suffered from spinal cord or neurological injuries. Also, increasing cases of spinal cord injuries is resulting in inclining adoption of exoskeleton robots in rehabilitation centers.
  • Stationary segment accounted for larger revenue share in 2020. These robots perform various tasks from a specific position, and are primarily used in medical and household applications. Surgical robots such as robotic manipulators, dynamic arm supports, and meal supports are considered to be stationary robots. Increasing demand for surgical robots across the globe is driving revenue growth of the stationary segment.
  • Public relations segment accounted for significantly large revenue share in 2020. Presently, integration of Artificial Intelligence (AI) in assistive robotics is resulting in increasing usage in various applications such as product distribution, surveillance, control, and guest guidance. Public relations robots are more productive and are used in different personal and commercial environments. Working hours of these robots can be extended beyond conventional hours to meet required demand.
  • Assistive robotics market revenue in Asia Pacific is expected to expand at a rapid rate during the forecast period. Shortage of trained healthcare workers, rapid technological advancements, and increasing geriatric population are key factors expected to propel revenue growth of the market in this region. Asia Pacific has emerged as a major hub for large investment and business expansion. Besides, increased utilization of assistive robotics in Japan, Singapore, South Korea, Taiwan, and China is also boosting market revenue growth.

Request for Discount @ https://www.reportsanddata.com/discount-enquiry-form/4610

For the purpose of this report, Reports and Data has segmented global assistive robotics market based on type, mobility, application, and region:

Type Outlook (Revenue, USD Billion; 2018–2028)

  • Physically Assistive Robots
  • Socially Assistive Robots
  • Mixed Assistive Robots

Mobility Outlook (Revenue, USD Billion; 2018–2028)

  • Stationary
  • Mobile

Application Outlook (Revenue, USD Billion; 2018–2028)

  • Surgery Assistance
  • Elderly Assistance
  • Companionship
  • Handicap Assistance
  • Defense
  • Industrial
  • Public Relations
  • Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/4610

Thank you for reading our report. For customization or any query regarding the report, kindly connect with us. Our team will make sure you the report best suited to your needs.

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports
Visit our blog for more industry updates @ https://www.reportsanddata.com/blogs

 

 

Browse More Reports:

Advanced Driver Assistance Systems (ADAS) Market

Connected Car Market

Automated Guided Vehicle (AGV) Market

Catalytic Converter Market

Comments

Post a Comment

Popular posts from this blog

Increasing need to improve candidate hiring experience is a key factor driving applicant tracking system market revenue growth | USD 1.38 Billion in 2020, Market Growth – at a CAGR of 6.5%

Image
The global  applicant tracking system market  size is expected to reach USD 2.33 Billion in 2028 and register a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data. Increasing preference for automated recruitment process is driving market revenue growth. Applicant tracking system is a software that implements the task of short-listing candidates by selecting their resumes. Features of this software such as scheduling interviews and candidate tracking are helping in handling the recruitment process effortlessly. Adoption of advanced cloud technology services which allows thousands of customers to access similar resources help companies to cut down their expenses. Companies are competing and adopting various strategic methods to develop innovative products and strengthen presence in the market. Applicant tracking software solutions assist businesses to promote themselves through brand marketing, especially for qualified job seekers...
Read more

Retail Analytics Market Size to Estimated Reach USD 18.71 Billion in 2028 | Oracle Corporation, IBM Corporation, SAP SE, Microsoft Corporation etc.

Image
Emerging trend of merging in-store and digital operations, coupled with the proliferation of cloud-based software, is driving market revenue growth Market Size – USD 4.32 Billion in 2020, Market Growth – at a CAGR of 20.0%, Market Trend – Rising trend of online shopping The global  retail analytics market  size is expected to reach USD 18.71 Billion in 2028 and register a revenue CAGR of 20.0% over the forecast period, according to latest report by Reports and Data. Proliferation of smartphones, growing use of social media, and increase in online shopping are driving retail analytics market revenue growth. The process of providing analytical data on supply chain movement, inventory levels, sales, and consumer demand, among others, is known as retail analytics. These data are crucial for marketing and making procurement decisions. Retail analytics gives detailed customer insights, along with better understanding of processes and business of an organization with solutions ...
Read more

Global Alternative Fuel Vehicle (AFV) Market Size Estimated Reach to USD 2,607.63 Billion in 2030

Image
The global Alternative fuel vehicle (AFV)  market report published by Reports and Data is an investigative report providing a comprehensive study of the global Alternative fuel vehicle (AFV) Market with regards to market share, market size, market analysis, industry revenue, current and emerging trends, and latest technological developments. The report highlights the competitive landscape of the Alternative fuel vehicle (AFV) Market with focus on company overview, business expansion plans, analysis of top companies, annual sales, and other market projections. The report studies the key market drivers, limitations, threats, challenges, and growth prospects of the market. The report offers informative data on the Alternative fuel vehicle (AFV) industry with extensive primary and secondary research which is further validated and verified by industry experts and professionals. Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1204 The report offers k...
Read more