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Healthcare Assistive Robot Market Set to Reach over $950mn by 2024

February 17, 2017

Healthcare Assistive Robot

Healthcare Assistive Robot

The industry growth reportHealthcare Assistive Robot Market Size By Product (Surveillance & Security, Humanoid, Rehabilitation, Socially Assistive), By Portability (Fixed base, Mobile), By Application (Stroke, Orthopedics, Cognitive & Motor Skills, Sports), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, South Korea, Brazil, Mexico, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” by Global Market Insights, Inc. says Healthcare Assistive Robot Market size is poised to reach USD 950 million by 2024.

Growing worldwide incidence of strokes along with increasing aging population will drive global Healthcare Assistive Robot Market size. Favorable government funding and shortage of trained medical staff to take care of handicapped and elderly people will also stimulate business growth.

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Advancements in robotic technology have enabled the development of accurately modeled robots that can be used in hospitals and home care facilities. Introduction of Intelligent assistive technologies have reduced the caregiver burden by compensating for specific physical and cognitive deficits in geriatric population.

Rehabilitation robot market share was over 40% of the global industry size in 2015, with revenue slated to surpass USD 400 million by 2024. The use of rehabilitation robotics has made it possible to implement efficient training safely, along with reducing the time spent on supervision by the therapist. These products are used as treatment aids and can cater to a huge number of patients under the supervision of a single therapist.

U.S. Healthcare Assistive Robot Market size was more than USD 70 million in 2015 with expectations to grow at over 18.5% from 2016 to 2024. Hospitals are adopting these devices to improve patient outcomes and implementing strategy of using robotic technology to attract more customers. Moreover, increasing funds to encourage new research for stroke rehabilitation, assist children with Autism Spectrum Disorder, and improve guide wheelchairs will contribute towards business growth.

Germany Healthcare Assistive Robot Market size was over USD 18 million in 2015 with high growth estimation in the coming years. This can be attributed to the favorable funding scenario, increasing aging population, and awareness regarding the use of assistive robotics. Development of robot-assisted exercise devices should tremendously improve recovery of stroke patients.

China Healthcare Assistive Robot Market size was pegged at over USD 12 million in 2015, and expected to reach over USD 60 million by 2024. Increasing geriatric population, growing incidence of stroke and shortage of care givers and physiotherapists should boost technology demand in the coming years.

Read More – Source: Healthcare Assistive Robot Market worth over $950mn by 2024: Global Market Insights Inc.

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