Healthcare Assistive Robot Market Expected to Reach $38.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Healthcare Assistive Robot Market," The healthcare assistive robot market size was valued at $8.3 billion in 2021, and is estimated to reach $38.4 billion by 2031, growing at a CAGR of 16.5% from 2022 to 2031.

Healthcare assistive robots have the potential to provide support for a range of care-related tasks such as physical and social assistance, physiotherapy, and rehabilitation as well as surgical assistance. Healthcare assistive robots have computerized reasoning by nature since they collaborate with patients which stimulates their cognitive and social development. Healthcare assistance robots are transforming how operations are carried out, improving supply delivery and sterilization, and allowing healthcare professionals to concentrate on interacting and caring for patients.

It provides a broad range of technology for the creation of medical robots, such as surgical assistance, modular, and mobile robots that operate on their own. These robots are used for elderly, injured, and disabled persons since they provide both movement controllability and measurement reliability which render them ideal for quick rehabilitation.

The healthcare assistive robot market trends which drive the growth of the market include,  are the increase in the prevalence of spinal cord injury and musculoskeletal disorders. In addition, healthcare assistive robots are being used more frequently to aid patients who are physically disabled or differently abled in standing up, balancing, and maintaining gait, which drives the growth of the market. Moreover, technological advancements, such as the incorporation of artificial intelligence (AI) and machine learning (ML) along with advanced sensors, are further expected to boost market growth during the forecast period.

However, strict regulatory rules and high costs are expected to hamper the growth during healthcare assistive robot market analysis. Conversely, an increase in the growth potential of emerging economies is expected to provide numerous opportunities for market growth during the forecast period.

By type, the surgical assistive robot segment dominated the market in 2021 and is expected to remain dominant during the forecast period, owing to the increase in the prevalence of neurological, gynecological, and urological diseases, which also increases the adoption of surgical assistive robots for surgical purposes. In addition, surgical assistive robots help to reduce the workload of medical staff, allowing them to spend more time directly caring for patients, while also developing an important operational procedure that offers effectiveness and low-cost investments in healthcare amenities, which increase the demand for surgical robots and drives the growth of the healthcare assistive robot market size. 

By portability, the fixed base segment dominated the healthcare assistive robot market share in 2021 and is expected to remain dominant during the forecast period, as most of the surgical assistive robots are available in fixed-based robots in hospitals. Thus, the increase in the adoption of surgical assistive robots also drives the growth of the fixed-based segment. 

By end user, the hospitals and clinics segment dominated the market in 2021 and is expected to remain dominant during the forecast period, owing to increase healthcare expenditure and rapid adoption of new technologies in hospitals and clinics. 

Region-wise, North America has the highest healthcare assistive robot market share and is expected to remain dominant during the forecast period owing to the presence of a large patient population, strong presence of key players, ease of product availability, and well-developed healthcare infrastructure. In addition, favorable reimbursement policies in healthcare systems and a higher number of R&D activities further boost the market growth.

Asia-Pacific is projected to register the highest CAGR of 18.5% during the healthcare assistive robot market forecast period. The evolving healthcare regulatory landscape and the government's emphasis on enhancing R&D capabilities for innovative product development are the key driving factors that boost the growth of the market in the region.

Key findings of the study

• On the basis of product, the surgical assistive robot segment dominated the healthcare assistive robot industry in 2021, and is expected to continue this trend during the forecast period.
• By portability, the fixed base segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• On the basis of end user, the hospitals and clinics segment dominated the healthcare assistive robot industry in 2021, and is expected to continue this trend during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.