Global Patient Monitoring and Assistance Robots Market 2017-2021
About Patient Monitoring and Assistance Robots
Evolution in technology and increased R&D for technological innovations by vendors in the healthcare robotics sector have paved the way to introduce patient monitoring and assistance robots. There are two major dynamics that have impacted the healthcare robotics and the adoption over the years. One is the aging population across the globe, which will not only increase the number of patients but also lead to the retirement of the current care staff and nursing professional in hospitals and other healthcare facilities like nursing homes. The other factor is the globalization of healthcare. Healthcare professionals are increasingly using technologies like telepresence robots to consult physicians and specialists in other countries to deliver efficient and speedy healthcare services. This implies that the market for patient monitoring and assistance robots will see a surge during the forecast period.
Technavio’s analysts forecast the global patient monitoring and assistance robots market to grow at a CAGR of 30.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global patient monitoring and assistance robots market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of patient monitoring and assistance robots.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Patient Monitoring and Assistance Robots Market 2017-2021
Technavio recognizes the following companies as the key players in the global patient monitoring and assistance robots market: Aethon, Anybots, Cyberdyne, KUKA Group, and ReWalk Robotics
Other Prominent Vendors in the market are: Awabot, Hstar Technologies, Kinova Robotics, Lamson Group, Panasonic, Revolve Robotics, Toyota Motor, and Vecna Technologies
Commenting on the report, an analyst from Technavio’s team said: “Over the last decade, the use of robots has increased not only in the manufacturing sector but also in the service sector such as healthcare. It has widened the scope of vendors in the robotics sector to increase their portfolio for each sector. Vendors are investigating opportunities to increase their market presence by differentiating their products from their competitors due to intense market competition. This has led vendors to increase their focus on R&D to provide highly customized products of superior quality that can efficiently meet the requirements of customers. Increased R&D by vendors also gives them the opportunity to develop cost-effective products that will boost their competitiveness in the market.”
According to the report, a major trend that will impact the growth of the patient monitoring and assistance robotics market is the miniaturization of sensors, which has happened over the years and is expected in the forecast period as well. This miniaturization has led to reduction in costs of sensors and in turn of robots. There have been innovations in mechatronic components as well, which is in tandem with the increased prevalence of information and communications technology (ICT). The software that enhances the capabilities of robotic systems is also more affordable for vendors. As the price of sensors continues to fall, there will be an emergence of more healthcare robots that can work collaboratively with humans to improve logistics, support, and monitoring of patients in healthcare facilities.
Further, the report states that the average price of a telepresence robot is approximately $2,000; hence, it is considered expensive, especially for personal utility purposes. Outreach programs such as rural schools and remote primary health care centers would also find it difficult to afford telepresence robots at these rates. Also, the maintenance costs of these machines in terms of servicing, electricity, and Internet connection will add significantly to the overall expenditure.
Aethon, Anybots, Cyberdyne, KUKA Group, ReWalk Robotics, Awabot, Hstar Technologies, Kinova Robotics, Lamson Group, Panasonic, Revolve Robotics, Toyota Motor, Vecna Technologies.
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