Healthcare companion robots assist children, adults, and the elderly in managing chronic diseases. Healthcare companion robots are sophisticated robotic gadgets that assist, interact with, and support healthcare professionals. These robots, which are outfitted with advanced technology such as artificial intelligence, machine learning, and various sensors, can perform a wide range of activities. They can help with tasks like reminding patients to take their medications, monitoring vital signs, and offering companionship to ease feelings of loneliness and isolation, especially among the elderly and those with chronic illnesses.
According to SPER Market Research, ‘Global Healthcare Companion Robots Market Size- By Robot Type, By Age Group, By End-Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Healthcare Companion Robots Market is estimated to reach USD 11.93 billion by 2033 with a CAGR of 18.21%.
Drivers:
Companion robots serve to improve well-being and quality of life by providing helpful functions. It primarily offers cognitive help, movement support, and relaxation. It also aids in health monitoring and offers self-care assistance through interaction. The growing senior population around the world, along with a scarcity of healthcare workers to care for the elderly, is expected to drive up demand for companion robots, particularly in nations like Japan. Furthermore, the government’s different programs help to drive market growth.
Technological advancements in medical robotics are another element driving market expansion. Several robotic products are being developed to help patients and improve their outcomes.
Restraints:
The development of intelligent robots with advanced sensors, AI, and ML requires significant investment in research, design, and manufacturing. To perform predefined duties, these robots require sophisticated hardware and software systems to be implemented. As a result, producing these robots is expensive, resulting in high end-user prices and limiting their adoption. The widespread adoption of healthcare companion robots will be limited in the absence of economies of scale or technological breakthroughs that significantly reduce production costs.
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The emergence of COVID-19 boosted market expansion. The government’s lockdown and social distancing efforts caused social isolation and loneliness. This enhanced the use of companion robots because they helped to fill gaps and reduce loneliness, especially among the elderly population. They were also used in conjunction with treatment to improve people’s mental health and aid in the recovery from anxiety disorders. Additionally, they are used for remote health monitoring and medication management.
Asia Pacific is estimated to account for 50% of the healthcare companion robots market by 2023. The region’s growing geriatric population, as well as many government projects aimed at developing companion robots to assist the elderly, are important contributors to the dominance. Major players in the market are Aeolus Robotics, Inc, Andromeda, ASUSTeK Computer Inc, Blue Frog Robotics & Buddy ASUS, inGen Dynamics, and Others.
Healthcare Companion Robots Market Segmentation:
By Robot Type: Based on the Robot Type, Global Healthcare Companion Robots Market is segmented as; Animal-Like, Humanoid.
By Age Group: Based on the Age Group, Global Healthcare Companion Robots Market is segmented as; Children, Adult, Geriatric.
By End-User: Based on the End-Use, Global Healthcare Companion Robots Market is segmented as; Nursing Homes And Elderly Care Centers, Hospitals and Clinics, Home Healthcare.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
For More Information, refer to below link: –
Healthcare Companion Robots Market Forecast
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