Assistive Robotics Market Size, Share, Trends, Growth and Forecast 2032

Assistive Robotics Market: Overview

The global Assistive Robotics Market Size size was worth around USD 9.54 Billion in 2023 and is predicted to grow to around USD 67.50 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 24.28% between 2024 and 2032.

The report studies the assistive robotics market status and outlook of global and major regions. The research study includes historic data of the years 2018, 2019, to 2022 and forecast data from 2023 to 2032 based on revenue (USD Million). Evaluating the dynamics of the assistive robotics market provides a brief reflection on drivers and limitations for the assistive robotics market and its impact on demand in the next few years. The study also includes an analysis of global opportunities in the assistive robotics market. In addition, the report covers a comprehensive competitive scenario and portfolio of top suppliers in the assistive robotics market. An analysis of Porter's Five Forces model for the assistive robotics market has been included to understand the competitive landscape in the assistive robotics market.

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Assistive Robotics Market Trends

This section covers the major market trends shaping the Assistive Robotics Market according to our research experts:

Socially Assistive Robots (SAR) Holds the Significant Share in the Market

• Physical activities have tremendous benefits to older adults. A report from the World Health Organization has mentioned that lack of physical activity contributed to around 3.2 million premature deaths annually worldwide. With the rise in the population of older adults, which is expected to triple by 2050, this SAR will aim to improve the quality of life for a significant proportion of the population for household segment.
• Socially assistive robots, if properly utilized, would assist older people in their daily routines and increase their quality of life by performing some much-needed functions such as reminders to take meals and medication, offer suggestions for activities and encourage social interactions.
• The University of Pittsburgh & Carnegie Mellon University developed the Pearl nurse robot. It is a personal and social robot that helps the elderly go about their daily routines. Other robotic technologies used to assist older adults as well as the disabled are exoskeletons, electric wheelchairs, and other similar devices.
• Various research and developments are ongoing to improve the performance and activities of robots. Companies like Waypoint Robotics and sister R&D company Stanley Innovation are working on optimizing the mobility part of autonomous eldercare robotics by creating mobile robotic platforms that are adaptable and scalable.
• Also in Mar 2019, ChartaCloud ROBOTTECA announced the launch of specialized socially assistive robot-based behaviors for daily living engagement in eldercare which will also show the properties of behavior intervention for autism, assisted pediatric medical care in hospitals,etc. Hence with increasing innovation, the Assistive Robotics market shows potential growth in the future.

The study provides a crucial view on the assistive robotics market by segmenting the market based on mobility, type, application, and region. The segments are analyzed based on current and future trends, estimated from 2018 to 2025. The mobility segment has been fragmented into mobile and stationary. On the basis of type; the market has been segregated into socially assistive robots, physically assistive robots and mixed assistive robots. Moreover, the application segment covers public relation, surgery assistance, elderly assistance, handicap assistance, companionship, industrial, defense and others. The regional module comprises the current and forecast demand for Middle East & Africa, North America, Asia Pacific, Latin America and Europe for assistive robotics market with further bifurcation including U.S., Canada, Mexico, UK, France, Germany, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Argentina, UAE, Saudi Arabia, and South Africa among others.

Assistive Robotics Market: Report Scope

The competitive profiling of noticeable players of assistive robotics market includes company and financial overview, business strategies adopted by them, their recent developments and product offered by them which can help in assessing competition in the market. Noticeable players included in the report are Kinova Robotics, Softbank Robotics, Focal Meditech, Cyberdyne, EKSO Bionics, Intuitive Surgical, Ubtech Robotics, Rewalk Robotics, Barrett Technology, and Hyundai among others. These players are undertaking strategic initiatives such as partnerships, distribution alliances, mergers, and acquisitions to consolidate their position in the market.

Key Companies Covered-

• Eurofins Scientific SE
• Staphyt SA
• Apal Agricultural Laboratory
• SGS S.A.
• Anadiag Group
• BioTecnologie BT.
• Bionema Limited
• SynTech Research
• I2L Research
• RJ Hill Laboratories Ltd.
• Laus GmbH

The report segment of the global assistive robotics market as follows:

Global Assistive Robotics Market: Mobility Segment Analysis

• Mobile
• Stationary

Global Assistive Robotics Market: Type Segment Analysis

• Socially Assistive Robots
• Physically Assistive Robots
• Mixed Assistive Robots

Global Assistive Robotics Market: Application Segment Analysis

• Public Relation
• Surgery Assistance
• Elderly Assistance
• Handicap Assistance
• Companionship
• Industrial
• Defense
• Others

Global Assistive Robotics Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa