According to the new market research report "Assistive Robotics Market
by Mobility, Type (Physically, Socially, Mixed Assistive), Application
(Elderly Assistance, Companionship, Handicap Assistance, Surgery
Assistance, Industrial, Defense, Public Relations), and Geography -
Global Forecast to 2024", The assistive robotics market is
expected to grow from USD 4.1 billion in 2019 to USD 11.2 billion by
2024, at a CAGR of 22.3% during the forecast period. Due to the
increasing number of people suffering from strokes and spinal cord
injuries across the world, demand for assistive robots such as
exoskeletons is increasing. Hence, the increasing prevalence of strokes
and spinal cord injuries is one of the key factors driving the growth of
the assistive robotics market. Another driver for the assistive
robotics market includes rising insurance coverage for medical
exoskeletons and robotic surgeries.
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=37247851
Browse 68 market data Tables and 40 Figures spread through 142 Pages and in-depth TOC on "Assistive Robotics Market"
Major
players in the assistive robotics market include Kinova Robotics
(Canada), Focal Meditech (Netherlands), Cyberdyne (Japan), Intuitive
Surgical (US), ReWalk Robotics (Israel), SoftBank Robotics (Japan), Ekso
Bionics (US), Ubtech Robotics (China), Barrett Technology (US), and
Hyundai (South Korea). Apart from these, Intuition Robotics (Israel) and
Mojin Robotics (Germany) are a few of the emerging companies in the
assistive robotics market.
Mixed assistive robots to hold largest share of assistive robotics market by 2019
Surgical
robots and elderly care robots are covered under the category of mixed
assistive robots. In recent times, there has been an upsurge in the
adoption of robot-assisted surgeries due to the various advantages they
offer. Also, the demand for elderly care robots has risen steadily over
the years, owing to the rise in the elderly population coupled with the
lack of attendants. Hence, the increasing adoption of robot-assisted
surgeries across the world and the rising geriatric population are
expected to propel the demand for mixed assistive robots during the
forecast period.
Surgery assistance application to dominate assistive robotics market during forecast period
Surgery
assistance application is expected to hold the largest share of the
assistive robotics market in 2019 and is projected to dominate the
market during the forecast period. In recent times, people are moving
toward the adoption of robot-assisted surgeries due to the various
advantages they offer, such as smaller incisions, decreased blood loss,
less pain, and quick recovery. With a large number of people opting for
minimally invasive surgeries due to their numerous advantages, the
assistive robotic systems in the surgery assistance application are
expected to hold the largest share during the forecast period.
North America to hold largest share of assistive robotics market by 2019
North
America is expected to hold the largest share of the assistive robotics
market in 2019 and is projected to dominate the market during the
forecast period. Growing demand from the healthcare sector for
rehabilitation and a favorable funding scenario for research on
assistive technologies are the key factors driving the market growth of
assistive robots in North America.
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