Handicap Assistance Robots Market Analysis North America,Europe,APAC,Middle East and Africa,South America - US,Japan,Germany,Sweden,UK - Size and Forecast 2023-2027

Global Handicap Assistance Robots Market Forecast 2023-2027

The Global Handicap Assistance Robots Market size is forecast to increase by USD 2.48 billion at a CAGR of 27.51% between 2022 and 2027. The global market experiences growth driven by key factors. Advancements in artificial intelligence elevate the capabilities of assistance robots, enhancing their effectiveness in aiding individuals with disabilities. Furthermore, robust government support for assistance robots, particularly in developed countries, provides a conducive environment for market expansion. Additionally, the aging population in developed nations increases the demand for such robots, addressing the growing need for assistance and caregiving solutions. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. 

What will be the size of the Handicap Assistance Robots Market During the Forecast Period?

Handicap Assistance-Robots Market Forecast 2023-2027

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Market Segmentation

Product Segment Analysis

The robotic parts segment will account for a major share of the market's growth during the forecast period.?Robot parts, such as robot arms and legs, are becoming increasingly popular among people with disabilities and limb loss in the US and European countries. Market players are constantly focusing on developing robotic parts, such as limbs, that can operate with minimal human-induced shocks to make them actuate. Due to advancements in these technologies, such robotic parts are expected to become even more popular and drive market growth. 

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The robotic parts segment was valued at USD 395.58 million in 2017.?Countries around the world are working to regenerate body parts for people with disabilities using robotic devices. The robot parts market has become more dominant in North America and the developed countries of the EU. This is because these regions have high healthcare costs and reimbursement systems that encourage patients to use robotic solutions frequently. Such factors are driving the growth of the robot parts segment and will drive the growth of the global market during the forecast period.

Type?Segment Analysis: 

Based on type, the market has been segmented into stationary and mobility. The stationary?segment will account for the largest share of this segment.?Stationary disability assistance robots are designed to provide stationary assistance and support. These robots are typically placed in specific locations, such as homes, medical facilities, and public places, and provide functions that assist users with their daily lives. Stationary robots can play music, display videos, and provide simple games to entertain users. They can also make friends and feel less lonely. In addition, stationary robots can assist users in their daily lives by setting alarms, creating to-do lists, and providing reminders for appointments and tasks. Therefore, they will drive the growth of the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 34% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The US became the largest revenue-contributing country in the North American market in 2022. The increasing aging population is a major factor contributing to the market growth in this country. Additionally, technological advancements in product design, construction, usage, and availability of reimbursement from health insurance companies are increasing the demand for disability assistive robots in the region during the forecast period.

Market Dynamics

The market is witnessing significant growth propelled by advancements in Artificial Intelligence, with Japanese android makers pioneering innovations to address Mild Cognitive Impairment (MCI) and Dementia. From robot-assisted surgery, including spinal surgery, to enhancing social awareness promoted by organizations like the World Health Organization, the market embraces technologies such as exoskeletons and electric wheelchairs. SAR (Socially Assistive Robots) play a crucial role in pediatric medical care, aiding individuals with conditions like autism, strokes, and spinal cord injuries. The market thrives on rising insurance coverage, driving the adoption of medical exoskeletons and various forms of robotic assistance, from stationary robots to surgical robots, in rehabilitation centers for those with neurological injuries and disabilities. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.   

Key Market Driver

Advancements in artificial intelligence (AI) algorithms and machine learning are empowering robots developed by Japanese android makers to execute a broader spectrum of tasks, ranging from aiding in locomotion and daily activities to facilitating communication and offering companionship. The integration of AI-driven natural language processing equips robots with the capability to comprehend and respond to voice commands and auditory cues, enhancing their usability, particularly for individuals with speech impairments.

Furthermore, AI algorithms play a pivotal role in enhancing safety measures by identifying potential hazards such as falls and implementing appropriate interventions to mitigate risks. Consequently, the convergence of robotics and artificial intelligence is poised to propel the growth of the focal market during the forecast period, particularly within domains such as robot-assisted surgery, including spinal surgery, and the development of socially assistive robots (SAR) for applications in pediatric medical care, rehabilitation centers, and handicap assistance. Additionally, there's a notable surge in the utilization of medical exoskeletons and stationary robots across various healthcare settings, fueled by rising insurance coverage and the increasing social awareness fostered by organizations like the World Health Organization. These advancements are particularly significant for addressing conditions such as mild cognitive impairment (MCI), dementia, autism, strokes, spinal cord injuries, and other neurological impairments, ultimately enhancing the quality of life for individuals requiring specialized assistance and care.

Significant Market Trends 

The development of autonomous robotic wheelchairs is a significant trend in the market. Robotic solutions allow movement on unrecognized roads using light detection and ranging (LiDAR) systems and recognize the best possible way to navigate obstacles. Prototypes are being tested in Singapore and Japan. However, it is expected that the commercialization of such robotic wheelchairs incorporating the technology will take place in the future.

Additionally, autonomous robotic wheelchairs with the ability to connect with other robotic solutions and move collaboratively will accelerate the adoption of assistive robots for people with disabilities. The solutions will be very helpful for the movement of individuals in the group. Therefore, the development of autonomous robotic wheelchairs will drive the growth of the global market during the forecast period.

Major Market Challenge

The high cost of assistive robots makes it financially inaccessible to many people with disabilities and healthcare facilities. This limited price hinders their wider adoption. The development and production of assistive robots often require significant investment in research, development, and compliance with regulatory standards. These costs can contribute to the high cost of assistive robots in general.

Additionally, without financial assistance, individuals and healthcare providers may have difficulty purchasing these devices. Research, development, and manufacturing costs can lead to inconsistencies in pricing, product quality, and support. Therefore, the high costs associated with assistive robots will hinder the growth of the market during the forecast period.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Bionik Laboratories Corp.: The company offers handicap assistance robots such as exoskeletons for people with injuries and diseases such as spinal cord injury and stroke.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Aether Biomedical sp. z o.o., Assistive Innovations bv, COVVI, Cyberdyne Inc., Ekso Bionics Holdings Inc., Focal Meditech, GOGOA Mobility-Robots SL, Honda Motor Co. Ltd., Japet Medical Devices, Kinova Inc., Ossur hf, Ottobock SE and Co. KGaA, Panasonic Holdings Corp., ReWalk Robotics Ltd., Rex Bionics Ltd., Toyota Motor Corp., Trexo Robotics Inc., Wandercraft, and Bionic Yantra 

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Market Analyst Overview

The Assistive Robotics Market is witnessing significant growth, propelled by advancements in technology and rising social awareness. Companies like Japanese android maker and Accenture are driving innovation in areas like Robot-assisted surgery and Socially Assistive Robots (SAR). The prevalence of conditions such as Mild Cognitive Impairment (MCI) and Dementia underscores the importance of Handicap Assistance Robots. These robots, including the Pearl nurse robot and products from Waypoint Robotics and Stanley Innovation, aid in tasks ranging from Electric wheelchairs to Meal supports. With Rising insurance coverage and increasing demand, the market is poised for continued expansion, benefiting individuals with various Medical conditions and disabilities.

The market is witnessing significant growth, driven by factors such as Spinal surgery advancements and initiatives by organizations like the World Health Organization and institutions like the University of Pittsburgh and Carnegie Mellon University. Companies like ChartaCloud ROBOTTECA are at the forefront of developing SAR (Socially Assistive Robots) for applications such as Pediatric medical care and aiding individuals with Autism. These robots also assist in Strokes and Spinal cord injuries rehabilitation, alongside the use of Medical exoskeletons for mobility support. With rising demand for Robotic surgeries and Surgical robots, along with innovations in Dynamic arm supports and Robotic manipulators, the market is evolving to meet the needs of Rehabilitation centers and Recovering individuals.

The adoption of Physically assistive robots for Upper body movements and Lower body movements in both Households and Medical applications signifies a shift towards enhancing Accessibility Solutions and facilitating Independent Living for the Disabled. In the realm of Handicap Assistance Robots, the focus is shifting towards aiding individuals with Neurological injuries through the Adoption of exoskeleton robots. These cutting-edge technologies find application in Handicap assistance applications and are gaining wider Acceptance for Personal use and Rehabilitation purposes. By serving as Disability Aids and offering Mobility Assistance, these robots provide Personalized Assistance tailored to the user's needs, thereby contributing to the field of Rehabilitation Robotics. With a growing emphasis on enhancing Mobility and facilitating Rehabilitation, the acceptance of Exoskeletons is expanding, marking a significant advancement in assisting individuals with Neurological injuries and other mobility-related challenges.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Robotic parts
  • Robotic wheelchair

• Type Outlook 
  • Stationary
  • Mobility
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile 
    • Brazil 
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Handicap Assistance-Robots Market Scope
Report Coverage	Details
Page number	161
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 27.51%
Market growth 2023-2027	USD 2.48 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	22.01
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 34%
Key countries	US, Japan, Germany, Sweden, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Aether Biomedical sp. z o.o., Assistive Innovations bv, Bionik Laboratories Corp., COVVI, Cyberdyne Inc., Ekso Bionics Holdings Inc., Focal Meditech, GOGOA Mobility-Robots SL, Honda Motor Co. Ltd., Japet Medical Devices, Kinova Inc., Ossur hf, Ottobock SE and Co. KGaA, Panasonic Holdings Corp., ReWalk Robotics Ltd., Rex Bionics Ltd., Toyota Motor Corp., Trexo Robotics Inc., Wandercraft, and Bionic Yantra
Market dynamics	Market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Market growth analysis across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of the key market companies

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