Healthcare Assistive Robot Market: An Overview
The global healthcare assistive robot market is expected to witness a stellar growth during 2018-2028. This is mainly attributed to the rising adoption of advanced technological equipment in the healthcare industry.
Healthcare assistive robot are robot used in healthcare industry that could sense, and perform actions in benefit of people with disabilities and seniors. Rapidly growing geriatric population coupled surge in incidence of chronic disorders is expected to drive the healthcare assistive robots market during the forecast time period.
An upcoming report on assistive robot market by Transparency Market Research is expected to offer in depth insights on vital factors. This will through light on several segments of the assistive robot market. Along with this, it is anticipated to have vital data that will indicate growth in the assistive robot market during the forecast period.
Healthcare Assistive Robot Market: Notable Developments
Some of the recent development in assistive robot market are-
Panasonic, a key players in the market invented a robotic bed. The bed transforms itself into a robotic wheelchair when required. This can help in mobility of bed-ridden aged people from one place to another and reduce dependence on caregivers for localized movement. Such innovative is expected to expand healthcare assistive robot market in the coming few years.
Some of the prominent market players operating in healthcare assistive robot market include Barrett Technology, Ekso Bionics Holdings, Cyberdyne, GaitTronics, Hocoma, Hansen Medical, HONDA Motor Co. Ltd., and Kinova Robotics. These players are expected to adopt several stregtgical approach to concretise their market position. Some of their growth stregies are accquaitions and mergers, business expansions and collaborations.
Healthcare Assistive Robot Market: Key Trends
The healthcare assistive robot market is likely to expand on account of increasing incidence of stroke coupled rising cases of injuries and accidends acros the globe. All these factors are expected to escalate the demand for healthcare assistive robots during the forecast period.
As per a data released by Conference on Retroviruses and Opportunistic Infections, every year nearly 15 million people across the globe suffer from stroke. Among these about 5 million people remain permanently disabled, this is an alarming clearly indicating the high scope of assistive robot in the healthcare industry.
Along with this, rise in adoption of assistive robots in rehabitational therapies of the patient a major trend noted in the healthcare assistive robot market. This is mainly because robots can perform repetitive sets of exercises efficiently as compared to human. Along with this, they also have provision to measurable feedback. This is expected to render a positive impact on the growth of the healthcare assistive robot market.
However, high costs of robots and inadequate awareness among people regarding use of robots to perform assistive activity is could impede growth in the healthcare assistive robot market in the forthcoming years.
Nevertheless, rising investing of the industry players on development of technologically advanced robots is a important factor expected to spur the market healthcare assistive robot marker size in the coming ,few years.
Healthcare Assistive Robot Market: Regional Outlook
Based on regional markets, North America is projected to be the largest market for healthcare assistive robot. Other than this, APAC is expected to register the fastest growth in the coming years due to the presence of sophisticated healthcare infrastructure, especially in Japan and Australia.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.