The therapeutic robots market is expected to record a CAGR of 22.1% during the forecast period 2022-2032, up from US$529.8 Million in the year 2022 to reach a valuation of US$3901.83 Million by 2032.
Report Attributes
Details
CAGR
22.1%
Value (2022)
US$ 529.8 Million
Value (2032)
US$ 3901.83 Million
The therapeutic robots market is anticipated to show promising growth prospects in the forecasted period 2022-2032.
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What are the Key Drivers to the Therapeutic Robots Market Share?
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.
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.
Which Region holds the Highest Growth Potential in the Therapeutic Robots 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 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. 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.
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How is the Competitive Landscape in the Therapeutic Robots Market?
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 Scope
Report Attribute
Details
Growth rate
CAGR of 22.1% from 2022 to 2032
Base year for estimation
2021
Historical data
2015 - 2021
Forecast period
2022 - 2032
Quantitative units
Revenue in US$ 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 (U.S., Canada); Latin America (Mexico, Brazil); 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); Japan; Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Country scope
U.S., Canada, Mexico, Brazil, U.S., Canada, Mexico, Brazil, Germany, Italy, France, U.K, Spain, Poland, Russia, China, India, ASEAN, Australia & New Zealand, Japan, GCC Countries, S. Africa, Northern Africa
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Key Segments Profiled in Therapeutic Robots Market
By Product Type:
Humanoid
Pets
By Type of Disorder:
Autism
Dementia
Cerebral Palsy
Post-traumatic stress
Anxiety and Phobias
By End Use:
Hospitals
Healthcare centers
Rehabilitation centers
Old-Age homes
By Region:
North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
Japan
Middle East & Africa
Frequently Asked Questions
What is the Growth Outlook for the Therapeutic Robots Market?
The therapeutic robots market is expected to record a CAGR of 22.1% during the forecast period 2022-2032, up from US$ 529.8 Million in the year 2022 to reach a valuation of US$ 3901.83 Million by 2032
Who are the Key Players in the Therapeutic Robots Market?
What is the Future of the Therapeutic Robots Market?
As per the analysis, the therapeutic robots market share is likely to be US$ 3901.83 Million by 2032.
Which is the Key Driver in the Therapeutic Robots Market?
In the aging population, cerebral vascular strokes are on the rise, raising the demand for rehabilitation technologies such as therapeutic robotics to support recovery.
