This Therapeutic Robots market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Therapeutic Robots market.
Therapeutic Robots: Introduction
Therapeutic robots are a type of rehabilitation robots used as a recovery therapy for individuals suffering from various mental and physical health disorders. These robots usually replace human-applied therapies with robotic based therapies. Therapeutic robots also called emotional robots or robotic pets, have recently been introduced as companions for people with cognitive impairment or/and physical problems. Therapeutic robots have shown great promise in uses in autism, mood disorders, in-home care, and Alzheimer's treatment. The momentous shift from conventional technologies for people with disabilities, towards robotic therapy, that helps to effectively and efficiently support an individual’s recovery, is projected to drive the growth for the therapeutic robots market in the coming years.
Therapeutic Robots Market: Dynamics
With the growing aging population across the globe especially in countries including Japan, Italy, Germany, Singapore, the UK, the US, and Canada, the demand for therapeutic robots is expected to subsequently increase in the coming years for emotional support.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The rise in instances of cerebral vascular accident (stroke) in the aged population, increases the demand for deployment of rehabilitation technologies such as therapeutic robotics to assist in the recovery process as well as to provide mental & physical support. Moreover, the robust increase in the number of rehabilitation centers coupled with the continuous evolution of robotic technology is likely to boost the growth for the therapeutic robots market over the forecast period. Additionally, the developed regions that have the high disposable income of individuals and the growing awareness about the utilization of robots for stress-related issues is one of the key factor that will increase the adoption of the therapeutic robots. Furthermore, not only does therapeutic robots simplify the work of a human therapist, but it also helps to reduce the cost of treatment while helping the patients to deal with the social environment. As therapeutic robots become more versatile, affordable, and sophisticated with time, they are more likely to be seen in treatment settings. These factors are projected to create significant demand for therapeutic robots in the worldwide market.
Therapeutic Robots: Regional Market Outlook
The upsurge in the adoption of innovative automated technologies in the healthcare sector, satisfactory reimbursement policies, and relatively higher per capita expenditure on healthcare, is expected to create lucrative growth opportunities, especially in developed regions such as North America and Europe. In the U.S., manufacturers of therapeutic robots are increasingly focusing on developing advanced emotional therapy robots to cure neurological disorders such as autism and dementia. For instance, recently, in 2019, Bionik Laboratories Corp. has launched InMotion arm/hand robotic system for treatment of mobility impairments due to neurological conditions and clinical rehabilitation of stroke survivors. Similarly, PARO, a companion robot, developed by Japan’s National Institute of Advanced Industrial Science and Technology, has been designed for the recovery of patients suffering from Alzheimer’s, dementia and other cognitive disorders. Moreover, regions such as East Asia and South Asia are also estimated to witness a significant growth owing to growing awareness about conditions such as Dementia, Alzheimer’s, and Cerebral Palsy, which has actively driven the demand for therapeutic robots in these regions.
Therapeutic Robots: Market Key Players
Some of the prominent market participants in the global therapeutic robots market include the following players:
- PARO Robots
- SoftBank Robotics
- AnthroTronix, Inc.
- BeatBots LLC
- Omron Corporation
- Sony Corporation
- Bionik Laboratories Corp.
- Instead Technologies Ltd.
- Ekso Bionics Holdings Inc.
- AlterG, Inc.
The therapeutic robots research report presents a comprehensive assessment of the therapeutic robots market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The therapeutic robots research report provides analysis and information according to market segments, such as geographies, application, and industry.
The Therapeutic Robots report covers exhaustive analysis on:
- Therapeutic Robots Market Segments
- Therapeutic Robots Market Dynamics
- Therapeutic Robots Market Size
- Therapeutic Robots Supply & Demand
- Current Trends/Issues/Challenges in the Therapeutic Robots Market
- Competition & Companies involved in the Therapeutic Robots Market
- Therapeutic Robots Technology
- Value Chain of the Therapeutic Robots Market
Therapeutic Robots regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The therapeutic robots report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Therapeutic Robots: Market Segmentation
On the basis of Robot Type, the global therapeutic robots market can be segmented into the following,
On the basis of Type of Disorder, the global therapeutic robots market can be segmented into the following,
- Cerebral Palsy
- Post-traumatic stress
- Anxiety and Phobias
On the basis of End-Use, the global therapeutic robots market can be segmented into the following,
- Healthcare centers
- Rehabilitation centers
- Old-Age homes
Therapeutic Robots Report Highlights:
- Detailed overview of parent market of the therapeutic robots market
- Changing therapeutic robots market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments in therapeutic robots
- therapeutic robots market competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Therapeutic Robots Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Therapeutic Robots Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Therapeutic Robots Market report?
In addition to up-to-date market figures and customized of the Therapeutic Robots Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.