Throughout the projection period, a CAGR of 12.2% is expected to be achieved in the market for eldercare-assistive robots. The market is expected to reach a value of US$ 7,150.0 Mn by 2032 from its current value of US$ 2,263.6 Mn in 2022.
The growing elderly population across several regions is driving up demand for robots that can help with eldercare. According to a UN report, 1 in 6 persons over 65 may likely experience a demographic emergency in the near future. On the other hand, according to a survey done in Japan in 2012, the percentage of people 65 and older is predicted to increase by about 40% by 2060, from about 22% in 2012.
Thus, the market share of robots that provide elder care is projected to grow.
The eldercare-assistive robots market refers to the industry that produces and sells robots designed to assist and provide care to elderly individuals. These robots can perform a variety of tasks, such as monitoring vital signs, assisting with mobility, reminding patients to take medication, providing companionship, and even performing household tasks.
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The market for eldercare-assistive robots is driven by the aging population in many countries and the growing need for caregivers. The use of these robots can help alleviate the burden on caregivers, reduce healthcare costs, and improve the quality of life for elderly individuals.
Some of the key players in the eldercare-assistive robots market include companies like SoftBank Robotics, Intuition Robotics, Cyberdyne Inc., and Blue Frog Robotics. These companies are developing advanced robots with features like voice recognition, facial recognition, and artificial intelligence to provide personalized care and support to elderly individuals.
Competitive Landscape:
The key players are the leading soldiers who are promising to expand the market size by adopting several marketing tactics. These tactics are pushing the market upward in growth by acquiring a maximum share in the coming years.
Recent Developments in the Eldercare-Assistive Robots Market
- In February 2019, Togo North America decided to invest US$ 11.4 Mn and create 58 new jobs in Portland, Tenn.
- In April 2022, the German United Robotics Group acquired Softbank Robotics Europe in Paris. Aldebaran Robotics is a part of Softbank Robotics.
Some of the companies involved in the eldercare-assistive robots market are
- Paro Robots
- Aldebaran
- Togo Seisakusyo Corporation
- Hasbro
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Key Segments:
On the basis of Types:
- Physically Assistive Robots
- Socially Assistive Robots
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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
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