DUBAI, United Arab Emirates, Dec. 18, 2022 (GLOBE NEWSWIRE) -- During the forecast period 2023-2033, the healthcare companion robots market is expected to grow at a value of 18% CAGR, according to Future Market Insights. By the year 2033, the global market for healthcare companion robots is expected to rise up to a market valuation of US$ 11.73 Billion. Companion robots are created with a purpose of offering a companionship to humans. These robots assist people especially elderly population in their daily activities and helps to improve their lives.
With increasing geriatric population and rising prevalence of diseases such as Alzheimer’s; dementia, etc., the demand of companion robots is likely to increase over a forecast period. Various robots are being developed which help people suffering from such disorders to live normal life. For instance, Ryan, a companion robot outfitted with artificial intelligence technology is designed to assist the aging population, specifically those struggling with Alzheimer’s. Also, it is equipped with cognitive games to keep the brain active and helps recognize who it interacts with and carry-on conversations. In addition, the increasing incidences of depression is fueling market growth.
Furthermore, with the outbreak of COVID-19, the prevalence of loneliness raised, which positively impacted the demand for companion robot. Paro, a companion robot approved by the FDA as an insured cost for patients is used to assist people with depression, anxiety, and other conditions. These robo-seals are provided in free to licensed nursing homes and in around 28 nursing homes in Washington State have started using them since last year.
Request Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-15933
In addition, various initiatives undertaken by market players to provide innovative solutions is anticipated to drive the growth of the market during the forecast period. Furthermore, integration of advanced technologies to improve the healthcare outcome is expected to boost the market in upcoming years.
Key Takeaways from the Market Study
- In 2023, Asia Pacific is expected to dominate the healthcare companion robots market with a share of 50%.
- North America is expected to possess 41% market share for healthcare companion robots market in 2023.
- By type, the humanoid segment is expected to hold the largest share of nearly 75% in 2023.
- By age-group, the geriatric segment is expected to hold the largest share of 40% in 2023.
“Advancement in technology along with increase in dependency on robots especially by the geriatric and disabled population is favoring growth of the healthcare companion robots market.” comments a Future Market Insights analyst.
Competitive Landscape
Some prominent players in the global healthcare companion robots market include Blue Frog Robotics & Buddy ASUS, Intuition Robotics, inGen Dynamics, PARO Robots U.S., Inc, No Isolation, Luvozo, Honda Robotics, Hanson Robotics, Ubtech, Emotix and Jibo
- For instance, in March 2022, Intuition Robotics launched ElliQ, a digital care companion. It is designed to help older adults to be more physically active and socially engaged and enable them to have happier, more independent lives.
- Intuition Robotics, a key player in the healthcare companion robots market is focusing on innovating robots that help the geriatric population fight loneliness. Thus, the company is researching on required emotional intelligence and integrating the same through artificial intelligence in the robots.
Browse Full Report@ https://www.futuremarketinsights.com/reports/healthcare-companion-robots-market
Key Segments Profiled in the Healthcare Companion Robots Industry Survey
Type:
- Animal-like
- Humanoid
Age-Group:
- Children
- Adult
- Geriatric
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Ask an Analyst@ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-15933
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global healthcare companion robots market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type (Animal-like and Humanoid), age group (Children, Adult, Geriatric) and regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).
About the Healthcare at Future Market Insights
The healthcare domain team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Have a Look at Related Reports of Healthcare domain
Disposable Endoscopes Market: The global disposable endoscopes market size is expected to reach a valuation of US$ 1.0 Bn by the end of 2022 and further expand at a CAGR of 17.6% from 2022 to 2032.
Retinoids Market: The retinoids market is expected to reach US$ 2.5 Bn by the end of 2032.
Dialysis Device and Concentrates Market: Global dialysis device and concentrates market demand is anticipated to be valued at US$ 20,858.0 Million in 2022, forecast a CAGR of 4.9% to be valued at US$ 33,583.3 Million from 2022 to 2032.
Dental Services Market: Global dental services market worth is expected to rise at a rate of 6.2% per year to US$ 587 Billion by 2032.
Cosmetic Surgery Products Market: Expected to be valued at US$ 17,926.75 Million by 2022-end, the global cosmetic surgery products market is expected to exhibit a CAGR of 8.2% during the forecast period ranging from 2022-2032, amassing US$ 39,424.5 Million.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights, Inc.
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
