Global Assistive Robotic Market Overview
Assistive Robotic Market Size was estimated at 12.99 (USD Billion) in 2022. The Assistive Robotic Market Industry is expected to grow from 15.2 (USD Billion) in 2023 to 62.361 (USD Billion) by 2032. The Assistive Robotic Market CAGR (growth rate) is expected to be around 16.98% during the forecast period (2024 - 2032).
Key Assistive Robotic Market Trends Highlighted
As the world population ages and the need for assistance in day-to-day activities increases, the demand for assistive robotics is growing rapidly. The major market drivers are increasing incidence rates of chronic diseases and disability, as well as advances in AI and sensor technology. These factors are driving the growth of next-generation assistive devices that enable users to maintain their independence and enhance their quality of life. Favorable government initiatives and policies that promote the implementation of assistive robotics in healthcare facilities also drive market growth.
The focus on personalized healthcare coupled with the integration of robots into rehabilitation programs also offers an opportunity for the industry. It should be noted that progressions in cloud computing, together with IoT, allow for remote monitoring and data sharing, which improves the efficiency and accessibility of assistive robots. Recent developments include the increasing use of exoskeletons to aid mobility, the inclusion of AI in wheelchairs to provide cognitive support, and a surge in robotic prosthetics with advanced sensory capabilities. The disability support landscape has, therefore, witnessed new changes through these inventions, hence more freedom, mobility, and better functional outcomes for their users.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Assistive Robotic Market Drivers
Aging Population and Increasing Prevalence of Chronic Conditions
The major driving factor for the growth of the Assistive Robotic Market Industry is the increasing geriatric population. With the spiraling age of an individual, chronic conditions can grow. These chronic conditions gut down the capability to move freely and independently. Assistive robots can provide support to an individual and enable them to perform their everyday chores, such as dressing, bathing, and eating, among others. Rising chronic conditions apart from aging are expected to elevate the demand for assistive robots across the Assistive Robotic Market.
The most prevalent chronic conditions comprise the likes of arthritis, stroke, and Parkinson’s disease. These diseases reduce the ability of a person to move freely and perform basic tasks of their daily routine on their own. Assistive robots can be of great use to people affected by these chronic conditions and help them enhance their quality of life and live independently. There are favorable conditions available that are providing support to the growth of the Assistive Robotic Market Industry.Governments all around the world are becoming aware of the advantages of assistive robotics in improving the lives of specially-abled people. Hence, they are providing their funding and support to the development phase of this technology.
Advancements in Technology and Artificial Intelligence (AI)
Technology in general and Artificial Intelligence in particular are growing not only in all sectors of modern life but also in the Assistive Robotic Market Industry. The development of user-friendly robots makes it possible to attract a larger number of users, as people of different ages and competencies can use the robots without any special difficulty. Besides, as the new generation of assistive robots is AI-based, they can really help their owners, adjust to their needs and even be taught by them.In addition, these devices can interact with other smart home devices, thus making them part of a whole system. Finally, the growth in the number of easy-to-use smart assistive robots makes it rather affordable as well.
Increasing Demand for Remote Healthcare and Telemedicine
The Assistive Robotic Market Industry is growing since the need for remote care and telemedicine, is increasing as the days go by. Assistive robots are used to provide care and support remotely to patients when they are in the confines of their homes. These robots can be fitted with cameras and sensors, and just like a scientist with a microscope, paramedics can screen the patient’s vital signal and the improvement remotely and provide real-time care and support.These robots can also deliver medication alerts, dispense medication, and act as companions and emotional supporters for the patient. The increase in the need for telemedicine and remote care is one of the prominent drivers of the Assistive Robotic Market Industry.
Assistive Robotic Market Segment Insights
Assistive Robotic Market Device Type Insights
The Assistive Robotic Market segmentation by Device Type includes Mobility Assistive Robots, Prosthetics Exoskeletons, Cognitive Communication Assistive Robots, Sensory Assistive Robots, and Other Assistive Robots. Mobility Assistive Robots held the largest market share in 2023, and it is expected to continue its dominance throughout the forecast period. The rising demand for rehabilitation and assistive devices for the elderly and disabled population is driving the growth of this segment. The Prosthetics Exoskeletons segment is expected to witness significant growth in the coming years due to the increasing prevalence of amputations and the growing adoption of exoskeletons for rehabilitation and mobility assistance.
Cognitive Communication Assistive Robots are gaining traction as they can provide assistance with daily tasks, communication, and social interaction for individuals with cognitive impairments or speech disorders. Sensory Assistive Robots are designed to aid individuals with sensory impairments, such as vision or hearing loss. This segment is expected to grow steadily as the demand for assistive technologies for the visually and hearing-impaired population increases. Other Assistive Robots include a wide range of devices, such as robotic wheelchairs, robotic arms, and telepresence robots.
These robots are designed to assist individuals with various disabilities in performing daily tasks and enhancing their independence. The Assistive Robotic Market is expected to reach a valuation of USD 23.45 billion by 2024, expanding at a CAGR of 14.9% during the forecast period. The growing demand for assistive technologies, advancements in robotics, and supportive government initiatives are key factors driving market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Assistive Robotic Market Application Insights
The Assistive Robotic Market is segmented based on application into Healthcare, Manufacturing, Personal Household, Education Research, and Other Applications. The Healthcare segment is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The growing demand for assistive robots in healthcare settings, such as hospitals, clinics, and rehabilitation centers, is driving the growth of this segment. The Manufacturing segment is also expected to witness significant growth, owing to the increasing adoption of robots in manufacturing processes to improve efficiency and productivity.
The Personal Household segment is expected to grow at a steady pace, driven by the rising demand for assistive robots for personal use, such as household chores and personal assistance. The Education Research segment is anticipated to witness moderate growth, driven by the increasing use of robots in educational and research institutions for teaching and research purposes. The Other Applications segment includes various applications, such as military and defense, agriculture, and transportation, and is expected to grow at a moderate pace.
Assistive Robotic Market End User Insights
The Assistive Robotic Market is segmented by End User into Individuals with Disabilities, Healthcare Providers, Educational Institutions, and Corporate Industrial Users. The individuals with Disabilities segment is the largest, with a market share of over 50% in 2023 and is expected to maintain its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing prevalence of chronic diseases and disabilities worldwide, as well as the rising demand for assistive technologies to improve the quality of life for individuals with disabilities.
The Healthcare Providers segment is the second largest and is expected to grow at a CAGR of over 15% during the forecast period. This growth is being driven by the increasing adoption of assistive robots in healthcare settings to provide rehabilitation, assistance with daily tasks, and remote monitoring of patients. The Educational Institutions segment is also expected to grow at a significant rate during the forecast period, as assistive robots are increasingly being used to provide personalized learning experiences and support for students with disabilities.The Corporate Industrial Users segment is the smallest segment but is expected to grow at a healthy rate during the forecast period, as assistive robots are increasingly being used in industrial settings to automate tasks and improve productivity.
Assistive Robotic Market Regional Insights
The regional segmentation of the Assistive Robotic Market provides insights into the market's geographic distribution and growth potential. North America is expected to hold a significant market share due to the high prevalence of chronic diseases, advanced healthcare infrastructure, and government initiatives supporting the adoption of assistive robotics. Europe is another major market, driven by rising healthcare expenditure, an aging population, and technological advancements. The APAC region is projected to witness substantial growth due to increasing disposable income, growing awareness, and government investments in healthcare.South America and MEA are emerging markets with immense growth opportunities as healthcare systems develop and demand for assistive robotics increases.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Assistive Robotic Market Key Players And Competitive Insights
Key players in the Assistive Robotic Market industry are constantly working toward gaining a competitive advantage by offering a new range of products and technologies. In addition, major Assistive Robotic Market companies are focusing on partnerships and collaborations to enhance their products and market share. The Assistive Robotic Market development market is highly competitive having several major and minor players with an increasing customer base.
The competitive scenario is anticipated to continue with the current players and new entrants investing in research and development to increase their market share in the market. One of the top companies in the field is Intuitive Surgical. It is a global emerging technology company and an internationally leading designer and manufacturer of robotic-assisted surgical products. The company's master product, the da Vinci Surgical System, is among the most-used robotic systems in the world. The American corporation has offices in the United States, in Israel, and across Europe in Switzerland, Italy, the Czech Republic, Germany, France, and the United Kingdom. In the Asia-Pacific region, Intuitive Surgical has subsidiaries in India, Japan, Korea, Australia, and China. Stryker provides competition to the leader in the market.
Stryker Corporation is a worldwide medical technologies company that competes worldwide. One of its robotic surgical systems is a forerunner, the Mako Surgical System, a robotically assisted system for performing joint replacement procedures. The company, based in Kalamazoo, Michigan, has a presence in multiple destinations within the United States and Europe.
Key Companies in the Assistive Robotic Market Include
- Ottobock
- Bionik Laboratories
- Lockheed Martin
- Toyota Motor Corporation
- LG Electronics
- Hyundai Motor Group
- BAE Systems
- ReWalk Robotics
- Sony Corporation
- Samsung Electronics
- Koninklijke Philips
- Panasonic Corporation
- Honda Motor Company
- SuitX
- Ekso Bionics Holdings
Assistive Robotic Industry Developments
The Assistive Robotic Market is anticipated to expand rapidly in the coming years. Increasing demand for improved healthcare services, rising geriatric population, and growing prevalence of chronic diseases are key factors driving market growth. Advancements in technology and increased adoption of robotics in healthcare settings are also contributing to market expansion. Key market trends include the growing adoption of AI-powered assistive robots, increasing demand for rehabilitation and mobility assistance devices, and rising focus on personalized healthcare solutions.
Recent news developments in the market include the launch of new assistive robotic devices, strategic partnerships between market players, and government initiatives to promote the adoption of assistive technologies. The market is expected to witness significant growth in the coming years, with a growing number of companies investing in research and development of innovative assistive robotic solutions.
Assistive Robotic Market Segmentation Insights
Assistive Robotic Market Device Type Outlook
-
- Mobility Assistive Robots
- Prosthetics Exoskeletons
- Cognitive Communication Assistive Robots
- Sensory Assistive Robots
- Other Assistive Robots
Assistive Robotic Market Application Outlook
-
- Healthcare
- Manufacturing
- Personal Household
- Education Research
- Other Applications
Assistive Robotic Market End User Outlook
-
- Individuals with Disabilities
- Healthcare Providers
- Educational Institutions
- Corporate Industrial Users
Assistive Robotic Market Regional Outlook
-
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
12.99 (USD Billion) |
| Market Size 2023 |
15.2 (USD Billion) |
| Market Size 2032 |
62.361 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
16.98% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Ottobock, Bionik Laboratories, Lockheed Martin, Toyota Motor Corporation, LG Electronics, Hyundai Motor Group, BAE Systems, ReWalk Robotics, Sony Corporation, Samsung Electronics, Koninklijke Philips, Panasonic Corporation, Honda Motor Company, SuitX, Ekso Bionics Holdings |
| Segments Covered |
Device Type, Application, End User, Regional |
| Key Market Opportunities |
Rising Demand for Healthcare AssistanceAging Population and Chronic ConditionsAdvancements in AI and Machine LearningGovernment Support and Regulations5 Growing Need for Personalized Healthcare |
| Key Market Dynamics |
Increasing prevalence of chronic illnessesGrowing geriatric populationTechnological advancementsGovernment initiativesRising disposable income |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Assistive Robotic Market is anticipated to reach a market size of USD 15.2 billion in 2023.
The Assistive Robotic Market is projected to witness a CAGR of 16.98% from 2024 to 2032.
North America is expected to hold the largest market share in the Assistive Robotic Market in 2023.
The healthcare segment is expected to be the major driver of the growth of the Assistive Robotic Market.
Key competitors in the Assistive Robotic Market include Ekso Bionics, ReWalk Robotics, and Hocoma.
The increasing prevalence of chronic diseases, the rising geriatric population, and the growing demand for rehabilitation services are major factors driving the growth of the Assistive Robotic Market.
High costs, limited reimbursement, and regulatory challenges are some of the major challenges faced by the Assistive Robotic Market.
Growing awareness, technological advancements, and increasing government support are some of the key opportunities for growth in the Assistive Robotic Market.
Integration of AI, development of wearable assistive robots, and increasing adoption of cloud-based robotics are some of the key trends in the Assistive Robotic Market.
The Assistive Robotic Market is expected to reach a market size of USD 62.361 billion by 2032.
