Healthcare Companion Robots Market Trends, Share, Demand, Revenue, Size and Future Outlook
Healthcare Companion Robots Market Growth, Size, Trends Analysis- By Robot Type, By Age Group, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Oct-2024 | Report ID: HLCA2484 | Pages: 1 - 248 | Formats*: |
| Category : Healthcare | |||
Healthcare Companion Robots Market Introduction and Overview
According to SPER Market Research, the Global Healthcare Companion Robots Market is estimated to reach USD 11.93 billion by 2033 with a CAGR of 18.21%.
The report includes an in-depth analysis of the Global Healthcare Companion Robots Market, including market size and trends, product mix, applications, and supplier analysis. Healthcare companion robots help children, adults, and the elderly with chronic conditions. Healthcare companion robots are advanced robotic devices that help, interact with patients, and support healthcare personnel. These robots, which are equipped with advanced technology such as artificial intelligence, machine learning, and numerous sensors, can execute a variety of tasks. They can assist with activities such as reminding patients to take their medications, monitoring vital signs, and providing company to alleviate feelings of loneliness and isolation, particularly among the elderly and those with chronic illnesses.
- Aeolus Robotics debuted aeo, a dual-arm humanoid robot, in January 2023. It offers new uses for a range of service functions, including as delivery, security, eldercare, kiosk operation, and cleaning using ultraviolet light. By addressing a variety of needs across many sectors and expanding its application possibilities, this creative launch improves the company's competitiveness in the market.
- ElliQ, Intuition Robotics' digital care companion, had its official debut in March 2022. ElliQ is a proactive partner for older individuals, encouraging them to preserve their independence and adopt a healthy lifestyle. Its design supports ageing in a healthier and happier way. The company's client base was greatly increased by this launch, which also improved its standing in the marketplace.
Market Opportunities and Challenges
Opportunities-
Growing need for individualised home care for the elderly: As the world's population ages, especially in industrialised countries where many older people choose to live at home rather than in nursing homes, there is a growing demand for individualised home care. The proportion of people over 60 in the world will rise from 12% to 22% between 2015 and 2050, according to the WHO. The healthcare system is strained by the chronic health concerns, mobility issues, and cognitive decline that older persons face. Robotic companions provide benefits like vital sign monitoring, medication reminders, and everyday job assistance. Thus, the growing need for automated home help is anticipated to propel the expansion of the worldwide healthcare companion robots market.
Challenges- Expensive nature and unskilled senior population are influencing the growth of the healthcare companion robots market. Although healthcare companion robots are gaining popularity, commercialisation is expensive. Furthermore, some persons with disabilities have shown reluctance to invest in healthcare companion robots because it adds to and exacerbates the stigma. The utility of healthcare companion robots is being questioned, as the elderly find it difficult to adapt to technology. Furthermore, due to the ongoing growth of the healthcare companion robotics industry, robots with less features are not selling well.
Market Competitive Landscape
Businesses are concentrating on raising the standard of living and developing patient care solutions. The players are creating intelligent companions, mostly for the elderly and younger generations, by fusing cutting-edge AI and robotics. In order to fund research and development efforts, the healthcare companion robots industry is also seeing a number of investments. For example, Intuition Robotics announced in August 2023 that it was raising an extra $25 million in investment to accommodate the soaring demand from government ageing agencies and healthcare organisations for ElliQ, the company's AI care companion. Among the well-known businesses are: Aeolus Robotics, Inc, Andromeda, ASUSTeK Computer Inc, Blue Frog Robotics & Buddy ASUS, inGen Dynamics.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Robot Type, By Age Group, By End-Use. |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Aeolus Robotics, Inc, Andromeda, ASUSTeK Computer Inc, Blue Frog Robotics & Buddy ASUS, inGen Dynamics, Intuition Robotics, Luvozo, PAL Robotics S.L, PARO Robots U.S., Inc, Ubtech. |
COVID-19 Impact on Global Healthcare Companion Robots Market
The emergence of COVID-19 had a beneficial impact on market growth. The government's lockdown and social distancing measures resulted in social isolation and loneliness. This increased adoption of companion robots since they served to fill gaps and minimise loneliness, particularly among the older population. They were also used in conjunction with therapy to improve people's mental health and help them overcome anxiety disorders. Furthermore, they are employed for remote health monitoring and medication management.
Robot Type Insights
The humanoid segment had the biggest share of 75.4% in 2022, owing to the benefits provided by these robots, such as perfection and minimal human mistake. These robots are employed to apply techno-psychological distractions for children during medical procedures, which helps to alleviate discomfort caused by anxiety and stress. Furthermore, the increase in demand for robotics due to the growing disabled and ageing population to address challenges caused by their inability to interact effectively with their surroundings has contributed to the market share of humanoid robots. Furthermore, humanoid robots are used in "Autism Special Education" to engage youngsters with special education applications.
Key Target Audience:
- Healthcare Robotics Manufacturers
- Hospitals and Healthcare Facilities
- Elderly Care Centers and Nursing Homes
- Rehabilitation Centers
- Home Healthcare Providers
- Patients and Families (Elderly and Disabled Individuals)
- Healthcare Professionals (Doctors, Nurses, Caregivers)
- Technology and AI Developers
- Medical Device Distributors
- Government and Regulatory Bodies
Our in-depth analysis of the Healthcare Companion Robots Market includes the following segments:
| By Robot Type: | |
| By Age-Group: | |
| By End-Use: |
Key Topics Covered in the Report:
- Global Healthcare Companion Robots Market Size (FY’2024-FY’2033)
- Overview of Global Healthcare Companion Robots Market
- Segmentation of Global Healthcare Companion Robots Market By Robot Type (Animal-Like, Humanoid)
- Segmentation of Global Healthcare Companion Robots Market By Age Group (Children, Adult, Geriatric)
- Segmentation of Global Healthcare Companion Robots Market By End-Use (Nursing Homes And Elderly Care Centers, Hospitals and Clinics, Home Healthcare)
- Statistical Snap of Global Healthcare Companion Robots Market
- Expansion Analysis of Global Healthcare Companion Robots Market
- Problems and Obstacles in Global Healthcare Companion Robots Market
- Competitive Landscape in the Global Healthcare Companion Robots Market
- Impact of COVID-19 and Demonetization on Global Healthcare Companion Robots Market
- Details on Current Investment in Global Healthcare Companion Robots Market
- Competitive Analysis of Global Healthcare Companion Robots Market
- Prominent Players in the Global Healthcare Companion Robots Market
- SWOT Analysis of Global Healthcare Companion Robots Market
- Global Healthcare Companion Robots Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Healthcare Companion Robots Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Healthcare Companion Robots Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Healthcare Companion Robots Market
7. Global Healthcare Companion Robots Market, By Robot Type (USD Million) 2020-2033
7.1. Global Healthcare Companion Robots Market Size, Share and Forecast, By Robot Type, 2020-20267.2. Global Healthcare Companion Robots Market Size, Share and Forecast, By Robot Type, 2027-20337.3. Animal-like7.4. Humanoid
8. Global Healthcare Companion Robots Market, By Age-Group (USD Million) 2020-2033
8.1. Global Healthcare Companion Robots Market Size, Share and Forecast, By Age-Group, 2020-20268.2. Global Healthcare Companion Robots Market Size, Share and Forecast, By Age-Group, 2027-20338.3. Children8.4. Adult8.5. Geriatric
9. Global Healthcare Companion Robots Market, By End-Use (USD Million) 2020-2033
9.1. Global Healthcare Companion Robots Market Size, Share and Forecast, By End-Use, 2020-20269.2. Global Healthcare Companion Robots Market Size, Share and Forecast, By End-Use, 2027-20339.3. Nursing homes and elderly care centers9.4. Hospitals and clinics9.5. Home healthcare9.6. Other end-users
10. Global Healthcare Companion Robots Market Forecast, 2020-2033 (USD Million)
10.1. Global Healthcare Companion Robots Market Size and Market Share
11. Global Healthcare Companion Robots Market, By Region, 2020-2033 (USD Million)
11.1. Global Healthcare Companion Robots Market Size and Market Share By Region (2020-2026)11.2. Global Healthcare Companion Robots Market Size and Market Share By Region (2027-2033)11.3. Asia-Pacific
11.3.1. Australia11.3.2. China11.3.3. India11.3.4. Japan11.3.5. South Korea11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France11.4.2. Germany11.4.3. Italy11.4.4. Spain11.4.5. United Kingdom11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia11.5.2. United Arab Emirates11.5.3. Qatar11.5.4. South Africa11.5.5. Egypt11.5.6. Morocco11.5.7. Nigeria11.5.8. Rest of Middle-East and Africa
11.6. North America
11.6.1. Canada11.6.2. Mexico11.6.3. United States
11.7. Latin America
11.7.1. Argentina11.7.2. Brazil11.7.3. Rest of Latin America
12. Company Profile
12.1. Aeolus Robotics, Inc
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Andromeda
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. ASUSTeK Computer Inc
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. Blue Frog Robotics & Buddy ASUS
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. inGen Dynamics
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Intuition Robotics
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Luvozo
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. PAL Robotics S.L
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. PARO Robots U.S., Inc
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Ubtech
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Healthcare Companion Robots Market is projected to reach USD 11.93 billion by 2033, growing at a CAGR of 18.21% during the forecast period.
Healthcare Companion Robots Market grew in Market size from 2024. The Market is expected to reach USD 11.93 billion by 2033, at a CAGR of 18.21% during the forecast period.
Healthcare Companion Robots Market CAGR of 18.21% during the forecast period.
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Healthcare Companion Robots Market size is USD 11.93 billion from 2024 to 2033.
Healthcare Companion Robots Market is covered By Robot Type, By Age Group, By End-Use.
The North America is anticipated to have the highest Market share in the Healthcare Companion Robots Market.
The key players in the Market include Companies Covered Aeolus Robotics, Inc, Andromeda, ASUSTeK Computer Inc, Blue Frog Robotics & Buddy ASUS, inGen Dynamics, Intuition Robotics, Luvozo, PAL Robotics S.L, PARO Robots U.S., Inc, Ubtech.
Healthcare companion robots help children, adults, and the elderly with chronic conditions. Healthcare companion robots are advanced robotic devices that help, interact with patients, and support healthcare personnel. These robots, which are equipped with advanced technology such as artificial intelligence, machine learning, and numerous sensors, can execute a variety of tasks.
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