The therapeutic robots market is expected to record a CAGR of 22.1% during the forecast period 2022 to 2032, up from USD 529.8 Million in the year 2022 to reach a valuation of USD 3901.83 Million by 2032.
| Report Attributes | Details |
|---|---|
| CAGR | 22.1% |
| Value (2022) | USD 529.8 Million |
| Value (2032) | USD 3901.83 Million |
The therapeutic robots market is anticipated to show promising growth prospects in the forecasted period 2022 to 2032.
With the growing aging population across the globe especially in countries including Japan, Italy, Germany, Singapore, the UK, the USA, and Canada, the demand for therapeutic robots is expected to subsequently increase in the coming years for emotional support.
The rise in instances of cerebral vascular accidents (stroke) in the aged population, increases the demand for the 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 of the therapeutic robots market over the forecast period.
Additionally, the developed regions that have a high disposable income of individuals and the growing awareness about the utilization of robots for stress-related issues is one of the key factors that will increase the adoption of therapeutic robots.
Furthermore, not only do therapeutic robots simplify the work of a human therapist, but it also helps to reduce the cost of treatment while helping 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.
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 USA, 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. launched the InMotion arm/hand robotic system for the 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.
Additionally, regions such as East Asia and South Asia are also expected to experience significant growth owing to increasing awareness about conditions such as Dementia, Alzheimer's, and Cerebral Palsy that are actively driving demand for therapeutic robots in these regions.
Therapeutic robots are a type of rehabilitation robot used as a recovery therapy for individuals suffering from various mental and physical health disorders. These robots usually replace human-applied therapies with robotics-based therapies.
Recent studies have shown that therapeutic robots, also known as emotional robots and robotic pets, are becoming popular companions for people with cognitive impairment or/and physical disabilities. The use of therapeutic robots in autism, mood disorders, and Alzheimer's care has shown considerable promise.
In the coming years, the market for therapeutic robots is projected to grow due to a change from conventional therapies for people with disabilities to robotic therapy, which helps optimize their recovery.
The global therapeutic robots market has numerous small-scale and international manufacturers at the regional level. Few industry players are identified across the value chain of the global therapeutic robots market which are PARO Robots, SoftBank Robotics, AnthroTronix, Inc., BeatBots LLC, Omron Corporation, Sony Corporation, Bionik Laboratories Corp., Instead Technologies Ltd., Ekso Bionics Holdings Inc., AlterG, Inc.
| Report Attribute | Details |
|---|---|
| Growth rate | CAGR of 22.1% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2021 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD Million/ Billion and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Product Type, Type of Disorder, End Use & Region |
| Regional scope | North America (USA, Canada); Latin America (Mexico, Brazil); Latin America (Mexico, Brazil); Western Europe (Germany, Italy, France, UK, Spain); Eastern Europe (Poland, Russia); Asia Pacific (China, India, ASEAN, Australia & New Zealand); Japan; Middle East and Africa (GCC Countries, S. Africa, Northern Africa) |
| Country scope | USA, Canada, Mexico, Brazil, US, Canada, Mexico, Brazil, Germany, Italy, France, U.K, Spain, Poland, Russia, China, India, ASEAN, Australia & New Zealand, Japan, GCC Countries, S. Africa, Northern Africa |
| Key companies profiled | PARO Robots; SoftBank Robotics; AnthroTronix; Inc.; BeatBots LLC; Omron Corporation; Sony Corporation; Bionik Laboratories Corp.; Instead Technologies Ltd.; Ekso Bionics Holdings Inc.; AlterG; Inc. |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The therapeutic robots market is expected to record a CAGR of 22.1% during the forecast period 2022 to 2032, up from USD 529.8 Million in the year 2022 to reach a valuation of USD 3901.83 Million by 2032
Key players holding substantial market share are PARO Robots, SoftBank Robotics, AnthroTronix, Inc., BeatBots LLC, Omron Corporation, Sony Corporation, Bionik Laboratories Corp., Instead Technologies Ltd., Ekso Bionics Holdings Inc., AlterG, Inc.
As per the analysis, the therapeutic robots market share is likely to be USD 3901.83 Million by 2032.
In the aging population, cerebral vascular strokes are on the rise, raising the demand for rehabilitation technologies such as therapeutic robotics to support recovery.
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Therapeutic Robots Market
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