The Elder Care Assistive Robots Market was estimated to be worth USD 2.6 billion globally in 2023, and a compound annual growth rate (CAGR) of 15.4% is anticipated from 2024 to 2034. Globally, the number of senior individuals is rising, which is greatly accelerating market expansion. The demand for robotic caretakers is predicted to increase as the number of people over 65 doubles globally by 2050. The introduction of AI and other technological developments are driving this market expansion.

There is a scarcity of caretakers and healthcare professionals in many nations. Robots increase productivity and lessen workload in the care of the elderly. Assistive robots are now more efficient and interactive because to advancements in AI, machine learning, and sensors.

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Growth Drivers

Because of their more user-friendly interfaces, older people and caregivers are becoming more receptive to the usage of robots. The market was further stimulated by the pandemic, which increased demand for non-contact caregiving solutions. Particularly when it comes to long-term elder care, robots provide a more affordable option to human caregivers. By offering early disease detection and ongoing health monitoring, they contribute to fewer hospital visits.

To address issues associated to aging, numerous governments are providing financing for research and subsidize robotic care options. Robots help with home care, which lowers hospitalization rates. They reduce long-term healthcare costs while assisting seniors in living freely. The need for help with everyday tasks like eating, washing, and moving about is growing as life expectancy rises.

Segmentation

Elder Care Assistive Robots Type

·         Physically assistive robots

·         Socially assistive robots

Elder Care Assistive Robots Functionality

·         Monitoring and surveillance

·         Mobility assistance

·         Social interaction

·         Household tasks

By Region

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         Intuition Robotics Inc

·         Toyota (GB) PLC.

·         SoftBank Robotics UK Ltd.

·         Blue Frog Robotics

·         KOMPAÏ robotics

·         Zorarobotics NV

·         YUJIN ROBOT Co., Ltd.

·         Panasonic Holdings Corporation

·         PARO Robots U.S., Inc

·         Other Players

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