According to a Global Market Insights report, the global healthcare assistive robot market could exceed $1.2 billion by 2024. According to the research firm, the rising incidence of stroke and the rising geriatric population worldwide is the key factor that will escalate the demand for healthcare assistive robots during the forecast period. Adoption of assistive rehabilitation robots as an innovative treatment for therapy of stroke recovered patient is increasing in recent years. Ability of these robots to perform repetitive sets of exercises and provision of measurable feedback will render positive impact on the healthcare assistive robot industry growth.
- Increases in funding for research on robotics technology will stimulate healthcare assistive robot industry growth over the analysis timeline.
- Socially assistive robots segment held significant revenue in 2017 and is estimated to show 19.5% CAGR over the analysis timeframe.
- Use of socially assistive robots in therapeutic treatments such as autism spectrum disorders (ASD) will augment the market growth during the forecast period.
- Mobile robots segment accounted for 60.5% revenue share in 2017 and is estimated to show highest CAGR over the forecast period.
- Ability of mobile robots to map its own location and complete the programmed task for use will increase its adoption in coming years.
- Cognitive & motor skills segment was valued at $87.1 million in 2017 and is anticipated to witness significant growth in the coming years.
- U.S. healthcare assistive robot market dominated North America region with more than 85% revenue share in 2017.
- Mexico healthcare assistive robot market is estimated to witness lucrative CAGR of 19.4% over the forecast timeframe owing to rising prevalence of neurological diseases and disability among people coupled with subsequent rise in geriatric population base.
- Industry players include Barrett Technology, GaitTronics, Hocoma, HONDA Motor, KUKA Robot Group, Cyberdyne, Interactive Motion Technologies, Hansen Medical, Ekso Bionics Holdings, Kinova Robotics, and ReWalk Robotics.
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