Assistive Robotics Market Share 2020, Research by Business Opportunities, Top Manufacturers and Global Forecast to 2025
Assistive Robotics Market is valued at USD 3.96 Billion in 2018 and expected to reach USD 17.19 Billion by 2025 with the CAGR of 23.34% over the forecast period.
Increasing number of geriatric population and
rising incidence of disabilities across the driving the assistive robotics
market.
Scope of Assistive Robotics Market-
An assistive robotics are devices those can sense, process sensory
information, and execute actions those benefit to older adults and people with
disabilities in the course of their daily living. Various types of devices are
available as a robotic feeders, independent mobile robots, smart-powered
wheelchairs and socially assistive
robots are becoming more clinically relevant. An assistive robot performs a
physical task for the well-being of a person, task is embedded in the context
with normal human daily living activities of person with the disability
controls by functioning of the robot. For instance, daily activities including
dressing, taking medications, bathing & showering, food preparation &
eating, socializing, mobility, personal hygiene & grooming, housework,
managing money, communicating, using technology, shopping, pet care, child
rearing, engaging in religious observances, playing, vacationing, working,
exercising, reading, relaxing, pursuing and education among others. The first
reported use of a robot-assisted surgical procedure had in 1985 when the PUMA
560 robotic surgical arm was used to perform delicate neurosurgical biopsy and
a non-laparoscopic surgery.
Assistive Robotics Companies
Focal Meditech, Cyberdyne, Intuitive Surgical, F&P Robotics,
ReWalk Robotics, SoftBank Robotics, Ekso Bionics, Ubtech Robotics, Barrett
Technology, Hyundai, Stryker, Hocoma, Blue Frog Robotics, DreamFace
Technologies, Double Robotics
The regions covered in this assistive robotics market report are
North America, Europe, Asia-Pacific and Rest of the World. On the basis of
country level, market of assistive robotics is sub divided into U.S., Mexico,
Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia,
GCC, Africa, etc.
BIONIK Laboratories Corp Announces InMotion ARM received regulatory
approval in South Korea
News: In January 2020, BIONIK Laboratories Corp. Announces
InMotion ARM received regulatory approval in South Korea. BIONIK Laboratories
Corp is the toronto-based the rehabilitation robotics specialist company. South
Korean regulatory approval enables company to commercially sell the product
through its exclusive distributor, Curexo in the country. InMotionARM therapy
enables healthcare professionals to efficiently deliver intensive motor therapy
that help patients to regain motor function following injury or neurological
condition. This new generation InMotion ARM is developed on evidence-based
neurorehabilitation technology that provides patients with real-time
assistance-as-Needed. This approval help BIONIK to enhance its presence in
South Korea where more than 100,000 population suffer from stroke-related
mobility challenges.
Assistive Robotics Market Segmentation –
By Type- Physically Assistive Robots, Socially Assistive Robots,
Mixed Assistive Robots
By Applications - Elderly Assistance, Companionship, Handicap
Assistance, Surgery Assistance, Industrial, Public Relations, Others
(Construction; Space; Agriculture; Education; and Sports and Fitness)
Assistive Robotics Market Dynamics –
Increasing incidences of spinal cord and strokes injuries are one
of the significant factors driving the growth of assistive robotics market.
Additionally, increasing geriatric population across the world and rising
insurance coverage for medical exoskeletons and robotic surgeries is another
factor driving market growth. For instance, as per the UN’s population
estimates that the world geriatric population will reach 2.1 billion by 2050.
This factor creates the need of rehabilitation robots to assist the geriatric
population and driving the growth of market. Moreover, increasing number of
disabled populations also fueling the growth of market. For instance, as per
The World Report World Health Organization (WHO) and the World Bank, reveals
that around 785 million population at the age of 15 and above live with a
disability across the world. On the flip side, high cost of therapy may hinder
the growth of market. Nevertheless, increasing per capita income and spend on
health may create lucrative growth in market over the forecast period.
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