The market for Therapeutic Robots Market is anticipated to grow at a CAGR of 22.1% from 2022 to 2032, rising from US$ 529.8 million in 2022 to US$ 3901.83 million in 2032.
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.
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Therapeutic Robots: Introduction
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 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, which 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.
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 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.
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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
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