Robotic Nurse Assistant Market (By Product Type: Independence Support Robots, Daily Care & Transportation Robots; By End User) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030

Published Date : Jan 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Robotic Nurse Assistant market size is expected to be worth around US$ 3.12 billion by 2030, according to a new report by Vision Research Reports.

The global Robotic Nurse Assistant market size was valued at US$ 893.10 million in 2021 and is anticipated to grow at a CAGR of 19.10% during forecast period 2022 to 2030.

Growth Factors

The growing population of older adults across the globe is encouraging the demand for robotic nurse assistants for various assistive day-to-day functions. As per a report by the WHO, by the year 2030, 1 in every 6 people will be aged 60 and above. The population of elderly people is going to double from 2020 to 2050 and is expected to reach 4.1 billion. Similarly, the number of people aged 80 and above is going to triple from 2020 to 2030 and is expected to reach 426 million by 2050. Furthermore, increasing investment in R&D to produce technologically advanced robots for healthcare facilities is expected to bolster the demand for robotic nurses in the coming years.

A rise in funding and grants for the development of technologically advanced nurse assisting robots, which can efficiently perform the day-to-day chores of a nurse, is another factor responsible for the growing demand for robotic nurses. For instance, in April 2022, Diligent, a nurse assisting robot firm, raised more than USD 30 million in their series B funding. The funding will help the company to increase its scalability and navigate its supply chain issues as it continues to deploy its nurse assisting robot, Moxi.

The robotic nurses are used for various activities like supporting disabled, critically ill patients, and older people in performing their day-to-day tasks, interacting with patients, monitoring patients, and collecting information about patients. These robots are overcoming the shortfall of healthcare workers in regions where the proportion of nurses and patients is not equal. According to the Health, Labor, and Welfare Ministry, there will be a shortfall of around 377,000 healthcare workers in Japan by 2026. In Japan, one-third of the population is aged 65 or above; therefore, since 2015, the government is providing subsidies for the purchase of robots by healthcare facilities. The country is majorly investing in projects to enhance robotic nurse assistants to detect and predict health-related changes among individuals. The “Robot Plan” aims to increase the adoption of robots for giving care from 60% to 80%. This is, in turn, driving the market.

At present, robotics-based nurse assistance is among the most researched area that specifically focuses on patient aid. Over the last decade, the role of robotics in the healthcare sector has increased significantly owing to the requirement to improve the quality and safety of care while controlling expenses. In order to address such requirements, multi-purpose intelligent nurse aid is required that will provide assistance to patients and accomplish teleoperation tasks with an easy-to-use graphical user interface.

There is a growing demand for robotic nurse assistants globally; however, their higher prices are impeding the growth of the market. Furthermore, a large amount of variable cost is required for maintenance, training the staff, and reconstructing the work process. Besides, safety and security concerns related to these robots are restraining the growth of the market. However, constant innovation of affordable technologies, along with an increasing number of production volumes due to the growing popularity of robotic nurse assistants, is expected to bring down the cost of production of such robots.

The COVID-19 pandemic had a positive impact on the market as the percentage of hospitalization increased significantly, which led to the rise in the demand for robotic nurse assistants for patients. The robots also helped in maintaining social distance while taking care of the COVID-19 infected patients, which further boosted the market growth in that period.

Product Type Insights

In 2021, independence support robots dominated the market with a revenue share of over 40.0%. The growing number of disabled people and a rising percentage of elder people dealing with chronic diseases are boosting the market growth, as these robots are highly useful in taking care of such patients. In addition, these robots are able to do human tasks more efficiently and accurately in a lesser time frame. This is positively supporting the market growth.

The daily care and transportation robots segment is projected to register the fastest CAGR during the forecast period. These robots autonomously process the workflow of hospitals, thereby enhancing the quality and productivity of the healthcare sector. Besides, the growing requirement for nurse assisting robots to help healthcare workers in executing their daily tasks more proficiently is a key factor driving this segment.

End-use Insights

In 2021, the hospitals and clinics segment emerged as the dominant segment with a revenue share of over 45.0% and is expected to grow at a lucrative rate during the forecast period. The increasing adoption of medical robots, including nurse assistant robots, in hospitals and clinics due to the shortfall of nurses in various countries, coupled with growing healthcare expenditure and adoption of advanced technology in the healthcare sector, is projected to boost the market growth.

The senior care facilities segment is expected to expand at the fastest CAGR during the projection period owing to the growing geriatric population across the world. Moreover, older people are more prone to chronic diseases and thus they require personalized care, which fuels the market growth. According to a report released by the Union Ministry of Family and Health Welfare in January 2020, two in every three senior citizens suffer from some kind of chronic condition. Furthermore, the growing strategic initiatives by the players to launch new products at an affordable range further fuel the market growth.

Regional Insights

North America dominated the market in 2021 with a revenue share of over 35.0% and is expected to grow at a lucrative rate during the forecast period. Some of the major factors contributing to the revenue growth of North America are the presence of world-class healthcare facilities, the high purchasing power of hospitals to invest in these systems, better collaborations with insurance companies, and an increasing number of patients opting for superior healthcare services. In addition, the growing need to maintain a ratio of nurses to the patient population further boosts the demand for robot-based assistants within the region.

Asia Pacific is projected to register the highest CAGR of 16.2% during the forecast period due to the presence of a large population of older adults. Furthermore, the continuous growth of the healthcare sector within the region, along with the growing investment in R&D of robotics systems, supports the market growth. The introduction of AI, IoT, and machine learning, coupled with the growing penetration of 5G network within the region, is opening new opportunities for the market to launch new products.

Key Players

Hstar Technologies, Diligent Robotics, Toyota Motor Corporation, RIKEN-SRK, SoftBank Robotics, Panasonic, Fraunhofer IPA, Aethon and others.

Market Segmentation

  • Product Outlook 

    • Independence Support Robots

    • Daily Care & Transportation Robots

    • Autonomous Mobile Robots

  • End-Use Outlook 

    • Hospitals & Clinics

    • Senior Care Facilities

    • Homecare Settings

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • Spain

      • France

      • Italy

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Singapore

      • Australia

    • Latin America

      • Mexico

      • Brazil

      • Argentina

    • MEA

      • Saudi Arabia

      • South Africa

      • UAE

The Robotic Nurse Assistant market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Robotic Nurse Assistant market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Robotic Nurse Assistant market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Robotic Nurse Assistant market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Robotic Nurse Assistant market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Robotic Nurse Assistant capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Robotic Nurse Assistant by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Robotic Nurse Assistant market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Robotic Nurse Assistant market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Robotic Nurse Assistant market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Robotic Nurse Assistant industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Robotic Nurse Assistant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Robotic Nurse Assistant market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Robotic Nurse Assistant market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Robotic Nurse Assistant market. These factors have benefited the growth of the global market for Robotic Nurse Assistant. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Robotic Nurse Assistant. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Robotic Nurse Assistant are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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