The assistive robotics market size is expected to grow at a CAGR 20.15% remarkable rate during the forecast period. The increasing incidences of strokes and spinal cord injuries are one of the key factors driving the growth of assistive robotics market. The rising insurance coverage for medical exoskeletons and robotic surgeries is another factor driving market growth.
Stationary robots are expected to hold the largest share of the assistive robotics market. Stationary assistive robotic systems are those which are fixed in one position. These robotic systems perform their tasks at a fixed location and are used mostly in households and medical applications. Surgical robots, along with robotic manipulators, dynamic arm supports, and meal supports come under the category of stationary assistive robots. The rising demand for surgical robots across the world is expected to drive the market for stationary assistive robots in manufacturing.
Physically assistive robots, expected to grow at the highest CAGR, aid individuals suffering from medical conditions and injuries that limit the upper body or lower body movements. These robots are also used in rehabilitation centers to provide rehabilitation to recovering individuals who had suffered neurological and spinal cord injuries.
Handicap assistance application is expected to grow at the highest CAGR during the forecast period. Assistive robotic systems assist the disabled. With an increase in the number of people suffering from stroke and spinal cord injuries across the world, the application of these robotic systems for handicap assistance is likely to rise at a significant rate.
Assistive robotics market in APAC is expected to grow at the highest CAGR. APAC region is expected to be driven by the shortage of trained care workers, coupled with the rising geriatric population. With the number of elderly on the rise at an unprecedented rate and the lack of caretakers, the market for assistive robots in this region is likely to grow at a significant pace in coming years.
Key market players includes Kinova Robotics (Canada), Focal Meditech (Netherlands), Cyberdyne (Japan), Intuitive Surgical (US), ReWalk Robotics (Israel), SoftBank Robotics (Japan), Ekso Bionics (US), Ubtech Robotics (China), Barrett Technology (US), Hyundai (South Korea), Stryker (US), Hocoma (Switzerland), Blue Frog Robotics (France), DreamFace Technologies (US), Double Robotics (US), Fourier Intelligence (China), CT Asia Robotics (Thailand), F&P Robotics (Switzerland), Axosuits (Romania), Japet Medical Devices (France), Hanson Robotics (Hong Kong), Motorika (US), and Rex Bionics (New Zealand)
Key Questions Addressed by the Report
· Where will all these developments take the industry in the mid to long term?
· What are the emerging applications of assistive robots?
· How are advancements in other application areas influencing the market?
· Which countries are expected to witness significant growth in the assistive robotics industry?
· What initiatives have companies undertaken to maintain their positions in their market?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Increasing Prevalence of Strokes and Spinal Cord Injuries
3.1.2.Rising Insurance Coverage for Medical Exoskeletons and Robotic Surgeries
3.2.1.Necessity to Abide Various Standards and Certifications, Especially in Medical Industry
3.2.2.Lack of Social Awareness About Benefits of Adopting Assistive Robotic Systems
3.2.3.Risk of Injuries and Accidents Associated With Assistive Robots
3.3.1.Increase in Funding Worldwide for Research on Assistive Robotics
3.3.2.Rise in Geriatric Population Globally
4. Executive Summary
5. Assistive Robotics Market, By Mobility
6. Assistive Robotics Market, By Type
6.1. Physically assistive robots
6.2. Socially assistive robots
6.3. Mixed assistive robots
7. Assistive Robotics Market, By Application
7.1. Surgery assistance
7.2. Public relation
7.3. Handicap assistance
7.4. Elderly assistance
8. Assistive Robotics Market, By Region
8.1. North America
8.2.5.Rest of Europe
8.3. Asia Pacific
8.3.4.Rest of APAC
8.4. Rest of the World
8.4.2.Middle East and Africa
9. Company Profiles
9.1. Leading Companies in Assistive Robotics Market
9.2. Other Companies in Assistive Robotics Market
*Company introduction, financial information, recent developments, SWOT analysis
10. Conclusion and Recommendations
11.2. Related Reports