The growing aging population has Propelled the Growth of the Assistive Robotics Market in the APAC Region!
- Himanshu Patni
- May 16, 2023
- NEWS, TELECOM & IT
- Assistive Robotics Market, Assistive Robotics Market Analysis, Assistive Robotics Market Forecast, Assistive Robotics Market Growth, Assistive Robotics Market Outlook, Assistive Robotics Market Share, Assistive Robotics Market Size, Assistive Robotics Market Trends
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The assistive robotics market in the Asia-Pacific region is being driven by several factors, including the rapidly aging population, technological advancements, and government initiatives. The increase in demand for assistive robots is due to the need for assistance with everyday tasks and companionship for elderly individuals. The APAC region is home to many innovative technology companies that are developing cutting-edge assistive robotics technologies, resulting in the development of sophisticated robots capable of performing complex tasks and adapting to different environments. Furthermore, many governments in the region recognize the potential of assistive robots in improving the quality of life for their citizens, resulting in significant investment in research and development in this area. These growth factors are expected to continue driving the assistive robotics market in the APAC region in the coming years, with the increasing adoption of assistive robots across a variety of applications, including healthcare, education, and entertainment.
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Further, the APAC Assistive Robotics market was valued at USD 3,800 million in 2021 & is expected to grow at a CAGR of 22.0% from 2022-2028. APAC is anticipated to emerge as the fastest-growing assistive robotics market primarily owing to the increasing number of people with an aging population in the region. Assistive robots are designed to help people with physical or cognitive disabilities to perform tasks that they may struggle with on their own. They can range from simple devices like grab bars and walkers to more advanced robots that can help with tasks like medication management, household chores, and companionship.
FIG. 1 APAC Assistive Robotics Market Revenue (2020-2028)- USD Mn
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Based on mobility, the market is segmented into mobile and stationery. Stationary robots are expected to dominate the assistive robotics market in 2021. Factors such as the cost-effectiveness of stationary assistive robots are expected to drive the market during the forecast period. Stationary assistive robots can be less expensive than mobile robots because they do not require the same level of mobility and navigation technology. This makes them more accessible to smaller businesses and organizations. Moreover, stationary assistive robots can be safer in certain environments than mobile robots. For example, in a manufacturing facility with heavy machinery and dangerous equipment, it may be safer to have
Based on type, the market is categorized into socially assistive robots, physically assistive robots, and mixed assistive robots. During the forecast period, the physically assistive robots segment is expected to grow with the highest CAGR. The major driving factors of the market include the aging population. With an aging population, there is a growing need for physical assistance in daily activities, such as getting in and out of bed, bathing, and dressing. Physically assistive robots can help people with mobility issues to perform these tasks more easily and with greater independence.
Global Assistive Robotics Market Segmentation
Market Insight, by Mobility
· Mobile
· Stationery
Market Insights, by Type
· Socially assistive robots
· Physically assistive robots
· Mixed assistive robots
Market Insights, by Application
· Elderly assistance
· Surgery assistance
· Handicap assistance
· Defense
· Industrial
· Companionship
· Others
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o UK
o Netherlands
o France
o Norway
o Switzerland
o Denmark
o Rest of Europe
· APAC
o China
o Japan
o India
o South Korea
o Rest of APAC
· Rest of the World
Top Company Profiles
· Kinova inc
· Ekso Bionics
· CYBERDYNE INC
· Focal Meditech
· ReWalk Robotics
· Hocoma
· Fourier Intelligence
· F&P Robotics AG
· Hyundai Motor Company
· SoftBank Robotics.
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