The global roboticare market size reached USD 482.6 Million in 2021 and is expected to register a revenue CAGR of 18.1% during the forecast period, according to latest analysis by Emergen Research. Rising usage of automated rehabilitation systems and decreasing prices of sensors are expected to support market revenue growth between 2022 and 2030.
Adoption of rehabilitation and hospital robots is rapidly growing with increasing penetration into medical environment. Rehabilitation robots are autonomously operated machines developed to improve movement in a patient with lower physical functionality. Some of the factors that boost usage of rehabilitation systems include advancements in robotic technology, increasing aging population, and growing awareness about rehabilitation robots. In addition, decreasing price of sensors led to use it more in robotics technology which is expected to drive roboticare market revenue growth during the forecast period.
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However, mechanical nature of care robots makes it difficult to put down any obligation in case of malfunctioning or any other unfavorable effect associated with their utilization. It might become highly complicated to attribute civil liability to a damaging occurrence caused by a robot. Such uncertainty might lead to a lack of accountability and create a serious concern for affected patient. Any harmful occurrence caused by a wrong decision executed by robot might become a serious concern. Attribution of liability issues could be a restraining factor that inhibits revenue growth of the roboticare market.
The Global Roboticare Market research report is a detailed document outlining the recent advancements and developments in the Roboticare Market business sphere considering 2021 as the base year and 2022-2030 as the forecast timeline. The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale.
Key players in the Roboticare market include
ReWalk Robotics Ltd.,
Bionik Laboratories Corporation,
Ekso Bionics Holdings Inc.,
Rex Bionics Ltd.,
Hanson Robotics Limited,
Samsung Electronics Co., Ltd.,
Myomo, Inc., and
ASUSTek Computer Inc.
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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
Emergen Research has segmented global roboticare market on the basis of technology type, application, end-use, and region:
Technology Type (Revenue, USD Million; 2019–2030)
Application Outlook (Revenue, USD Million; 2019–2030)
Emotional Support Robots
End-Use Outlook (Revenue, USD Million; 2019–2030)
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The report addresses the following key points:
The report estimates the expected market size from 2022-2030
The report provides a forecast of market drivers, restraints, and future opportunities for the Roboticare market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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