Status : Published | Published On : Dec, 2023 | Report Code : VRHC1201 | Industry : Healthcare | Available Format : | Page : 175 |
The Roboticare Market refers to the market segment that focuses on the development, production, and deployment of robots and robotic technologies in the healthcare and eldercare sectors. Roboticare solutions aim to assist in providing care and support to individuals, particularly the elderly and those with disabilities or medical conditions.The demand for roboticare solutions has been growing in recent years due to several factors, including an aging population, increased healthcare costs, and advancements in robotics and artificial intelligence (AI) technologies. These solutions can help alleviate the burden on healthcare systems, enhance patient care, and improve the quality of life for individuals in need of assistance. The global roboticare market was valued at USD 0.42 billion in 2023 and is anticipated to grow at USD 3.6 billion by 2030 which is a considerable rate with a CAGR of 19.2% during the forecast period 2025-2030. Roboticare is an intermediate among care beneficiaries (consumers), caregivers, and manufacturers of assistive technology. Thus, roboticare robots are being adopted for medical treatment. The growth of the global roboticare market is attributed to technological development, increasing ethical concerns for the surge in demand for robots in healthcare, increasing adoption of strategies by the industry players, and removing the dependency of human beings in the social system. Moreover, the roboticare market is optimistic owing to favorable demographic factors like the rising need for low care facilities and nursing professionals for physical and emotional care for the rising geriatric population.During the COVID-19 pandemic, autonomous robots in the roboticare market can perform tasks like cleaning and disinfecting, navigating in infectious disease wards, operating rooms (OS), laboratories, and public hospital areas, resulting in the growth of the roboticare market.
Market Segmentation
Insight by Technology Type
Based on technology type, the global roboticare market is divided into autonomous technology and semi-autonomous technology. Among these technology types, semi-autonomous technology is growing significantly owing to the adoption of robotic assistance in minimally invasive surgeries as they help surgeons to perform complex micro-procedures without making large incisions. Service robots can reduce the burden of healthcare workers as they can autonomously handle routine logistical tasks and can send a report after completing the task.
Insight by Application
Based on application, the global roboticare market is divided into rehabilitation robots, emotional support robots, and robotic nurses. Rehabilitation robot dominates the market owing to the growing geriatric population, increasing cases of stroke-making people immobile, growing prevalence of diseases like cerebral palsy, multiple sclerosis, Parkinson’s disease, and spinal cord injuries, and robot-assisted training in rehabilitation therapy will propel the growth in the market.
Insight by End-User
Based on end-user, the global roboticare market is divided into hospitals, rehabilitation centers, and homecare. Hospitals are emerging as a dominant market owing to the lack of skilled nurses in many countries, rising adoption of medical robots in hospitals, and growing robotic-assisted surgeries and procedures.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 0.42 Billion |
Revenue Forecast in 2030 |
U.S.D. 3.6 Billion |
Growth Rate |
19.2% |
Segments Covered in the Report |
By Technology Type, By Application and By End-User |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The rapid advancement in artificial intelligence (AI), the rising demand to assist in rehabilitation, and the lack of nurses for personal care are the trends that led to the growth of the global roboticare market. The roboticare market refers to the segment of the robotics industry that focuses on developing and providing robotic solutions for healthcare and eldercare applications. It involves the use of robots and automation technologies to assist in various aspects of caregiving, including patient monitoring, assistance with daily tasks, rehabilitation, and companionship.The roboticare market has seen significant growth in recent years due to several factors. The aging population in many countries, coupled with a shortage of healthcare workers and caregivers, has created a demand for innovative solutions to address the needs of the elderly and individuals with limited mobility or medical conditions. Roboticare technologies can include robotic exoskeletons, assistive robots, companion robots, telepresence robots, and autonomous mobile robots designed to navigate healthcare facilities. These robots can perform tasks such as monitoring vital signs, reminding patients to take medication, providing physical assistance, and engaging in social interaction.
Growth Drivers
The roboticare market is growing at a steady pace as it assists patients and healthcare specialists to provide care in form of emotional and rehabilitation support. Moreover, decreasing nurse to the patient population, growing old age population, innovation in the concept of robots and their adoption in the healthcare sector, rising adoption of automated rehabilitation systems, a reduced price of sensors will accelerate the growth in the roboticare market.
Challenges
The ethical limitation over the adoption of care robots, the high price of robotic systems, and replacing humans in social settings are the challenges faced by the global roboticare market.
Opportunities
The innovation in telemedicine, nanorobots, and development in AI are the opportunities in the roboticare market. Social robots are used as a means of telemedicine and remote therapy for monitoring health and providing psychosocial support to high-risk populations, especially the old age population who needs companionship.
Geographic Overview
North America dominates the roboticare market owing to the rising geriatric population, awareness about specialized treatment centers for rehabilitation, increasing patient acceptance due to superior healthcare outcomes. Asia-Pacific is anticipated to have a high CAGR during the forecast period owing to the rise in spending on healthcare infrastructure.
Competitive Insight
The key players are adopting strategies such as R&D, M&A, agreements, collaborations, product launch, partnership, joint ventures, and regional growth to have a competitive edge in the global roboticare market.
Bionik Laboratories is an innovative medical device and robotics company. It is a robotics company providing neurological functional recovery solutions to stroke survivors and others with functional and mobility challenges which offer its technology to therapists directly and services to patients in its clinical centers.
Cyberdyne is a Japanese robotics and technology company most noted for the marketing and distribution of the HAL robotic exoskeleton suit.
Some of the key players operating in the roboticare market: ReWalk Robotics, BIONIK, Sony Corporation, CYBERDYNE Inc., HANSON ROBOTICS LTD., Ekso Bionics, Rex Bionics Ltd., SoftBank Group Corp., Hocoma, and Myomo Inc.
Recent Developments by Key Players
Bionik Laboratories Corporation launched InMotion ARM/HAND robotic system for clinical rehabilitation of stroke survivors and for people with mobility impairments due to neurological conditions. The improved robotic system is developed as per the principles of motor learning and neuro-plasticity and utilizes artificial intelligence and data analysis to offer individualized therapy to patients.
ReWalk Robotics Ltd., a maker of robotic medical equipment, attained CE mark clearance to sell Restore Exo-Suit device to rehabilitation clinics in Europe. This device is used in rehabilitation treatment for patients to walk and recover from stroke. Thus, ReWalk Robotics, Ltd. will have a strong foothold in Europe.
The Roboticare Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Roboticare Market