Nursing Robots Market Size, Share, Opportunities, COVID-19 Impact, And Trends By End-Users (Hospitals, Research Institutes, Independent Home Care), By Population Split (Geriatric Population, Disabled Population, Bariatric Population), And By Geography - Forecasts From 2021 To 2026

Published:  Jan 2022 Report Code: KSI061612601 Pages: 120

The nursing robots market is projected to witness a compounded annual growth rate of 24.45% to grow to US$2,232.717 million by 2026, from US$482.939 million in 2019. Robotics in healthcare is well past its early developmental stage. So much so, that robot nurses have become well-known for their contributions to the healthcare industry. Nursing robots are increasingly being used in healthcare because they can triage patients in clinics, emergency rooms, and via telehealth services to streamline care and provide standardized approaches to symptom management with far fewer resources. They can also be used as a platform for patient education as patients will be able to access hundreds of videos outlining medication uses, side effects, disease management, support groups, and emotional support hotlines in the blink of an eye, all in any language, through the digital interfaces provided by their nursing robots. Furthermore, nursing robots that assist with patient transfers, ambulation, and lifting will lessen physical stress on nurses and allow them to use their time more efficiently. Because robots are designed with algorithms that almost eliminate calculation errors, it will become safer to double-check prescriptions with a robot in the future, including chemotherapy and blood products.

The growing geriatric population is driving the demand for nursing robots.

One of the major factors expected to contribute to the nursing robots market growth is the growing geriatric population. The use of nursing robots as a supplement to human nurses in hospitals, nursing homes, and at home is increasing rapidly. They can help with logistics and strenuous physical activities, as well as combat loneliness and idleness among the elderly. They can also be assigned mundane jobs like taking vital signs. This aging of the global population is occurring in tandem with greater social and economic changes occurring around the world. Fertility declines, changes in marriage, cohabitation, and divorce patterns, and higher levels of education among younger generations are predicted to be the primary drivers of geriatric population growth. Moreover, according to the UN’s World Population Ageing 2020 report, globally, there were 727 million persons aged 65 years or over in the world in 2020. All regions will see an increase in the size of their older population between 2020 and 2050 and the share of the global population aged 65 years or over is expected to increase from 9.3 percent in 2020 to 16.0 percent by 2050, thus, indicating a growing market for nursing robots in the upcoming years.

COVID-19 impact on nursing robots market.

The COVID-19 pandemic had a positive impact on the market demand for nursing robots. With the introduction of several COVID-19 pandemic measures, such as lockdown, travel ban, and other related social distancing measures, there has been an impact on the visitor's visits, worldwide. This has led to the surge in the demand for nursing robots, for various purposes, such as communication and interaction. Moreover, there had also been a shortage of staff in the healthcare sector in order to deal with the pandemic.

This also led to a surge in the demand for nursing robots, especially in 2020. Heavy work pressure on the nursing staff has also led to a rise in the demand for special assistants or robots. Various companies have reported an increase in the demand for nursing robots. For instance, in March 2020, Diligent Robotics, one of the major players in the market, announced that it had raised US$10 million in Series A funding, which would help then in scaling up its production, intending to deliver to more nursing robots.

Nursing Robots Market Scope:
Report Metric Details
 Market size value in 2019  US$482.939 million
 Market size value in 2026  US$2,232.717 million
 Growth Rate  CAGR of 24.45% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Million
 Segments covered  End Users, Population Split, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Diligent Robotics, Softbank Robotics Corp., Aethon Inc., RIKEN-SRK, Toyota Motor Corporation, Giraff Technoogies AB, Barrett Technology, PARO Robots U.S., Inc, SingularityNET (SNET), Hanson Robotics
 Customization scope  Free report customization with purchase

Market Segmentation:

  • By End Users
    • Hospitals
    • Research institutes
    • Independent home care
  • By Population Split
    • Geriatric population
    • Disabled population
    • Bariatric population
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Others
    • Middle East and Africa
      • Saudi Africa
      • UAE
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the nursing robots market size by 2026?
A1. The nursing robots market is projected to reach a total market size of US$2,232.717 million by 2026.


Q2. What are the growth prospects for the nursing robots market?
A2. The global nursing robots market is projected to grow at a CAGR of 24.45% during the forecast period.


Q3. What is the size of the global nursing robots market?
A3. Nursing Robots Market was valued at US$482.939 million in 2019.


Q4. What factors are anticipated to drive the nursing robots market growth?
A4. One of the major factors expected to contribute to the nursing robots market growth is the growing geriatric population. 


Q5. How is the global nursing robots market segmented?
A5. The global nursing robots market has been segmented by end-user, population split, and geography.

1. INTRODUCTION
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation


2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions


3. EXECUTIVE SUMMARY
3.1. Research Highlights


4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis


5. NURSING ROBOTS MARKET ANALYSIS, BY END-USER 
5.1. Introduction
5.2. Hospitals
5.3. Research institutes
5.4. Independent home care


6. NURSING ROBOTS MARKET ANALYSIS, BY POPULATION SPLIT
6.1. Introduction
6.2. Geriatric population
6.3. Disabled population
6.4. Bariatric population 


7. NURSING ROBOTS MARKET ANALYSIS, BY GEOGRAPHY 
7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. UK
7.4.3. France
7.4.4. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Others
7.6. Asia Pacific
7.6.1. Japan
7.6.2. China
7.6.3. India
7.6.4. Thailand
7.6.5. Taiwan
7.6.6. Indonesia
7.6.7. Others


8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix


9. COMPANY PROFILES
9.1. Diligent Robotics
9.2. Softbank Robotics Corp.
9.3. Aethon Inc.
9.4. RIKEN-SRK
9.5.  Toyota Motor Corporation
9.6. Giraff Technologies AB
9.7. Barrett Technology
9.8. PARO Robots U.S., Inc
9.9. SingularityNET (SNET)
9.10. Hanson Robotics

Diligent Robotics

Softbank Robotics Corp.

Aethon Inc.

RIKEN-SRK

 Toyota Motor Corporation

Giraff Technologies AB

Barrett Technology

PARO Robots U.S., Inc

SingularityNET (SNET)

Hanson Robotics

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