Healthcare Assistive Robot Market to Reach $38,367.65 Million, Globally, by 2031 at 16.5% CAGR

Allied Market Research

Increase in prevalence of spinal cord injury and musculoskeletal disorders and increasing geriatric population suffering from orthopedic disorder drives the growth of the global Healthcare Assistive Robot Market

PORTLAND, Ore., Jan. 24, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Healthcare Assistive Robot Market by Type (Surgical Assistive Robot and Care Robot), Portability (Fixed base and Mobile), and End User (Hospitals and Clinics, Rehabilitation Centers, and Others) and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031" According to the report, the global healthcare assistive robot industry generated $8,316.23 million in 2021, and is estimated to reach $ 38,367.65 million by 2031, witnessing a CAGR of 16.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

Increase in investment by players in R&D and presence of robust pipeline candidates rise in sports-related injuries and increase in adoption of healthcare assistive robots in rehabilitation therapies drives the growth of the global Healthcare Assistive Robot Market. On the other hand, strict regulatory rules and high cost impede the growth to some extent. However, growth potential of emerging economies is expected to create lucrative opportunities in the industry.

Covid-19 scenario

• Interest in robots, drones, and artificial intelligence has surged as a result of the novel coronavirus. Thus, impacting the growth of the healthcare assistive robot industry positively.
• Moreover, rise in growth strategies by the major key players has helped the market recover post-pandemic.

The surgical assistive robot segment to rule the roost-

By type, the surgical assistive robot segment held the major share in 2021, garnering around half of the global healthcare assistive robot market revenue owing to the introduction of highly advanced robotic medical equipment and the increase in per-capita healthcare spending along with ongoing technological developments, including robotic catheter control systems (CCS), data recorders, data analytics, remote navigation, motion sensors, 3D-imaging, and HD surgical microscopic cameras. The care robot segment would showcase the fastest CAGR of 18.6% during the forecast period. the development of several technological innovations to help and decrease the load on professionals, unpaid caregivers, and patients, thus driving the segment growth.