The market size of the Global Robotic Nurses Market in the year 2021 is valued at 594.14 million and is predicted to reach 2336.29 million by the year 2030 at an 16.63% CAGR during the forecast period.
Robotic nurses assist patients with mobility and perform essential duties like taking vital signs and giving medication. Robotic nurses act as a link between medical professionals and patients over long distances. These robotic nurses perform everyday tasks for elderly and disabled patients, converse with them, keep an eye on them, and collect patient records, among other things. Robotic nurse assistants are in more demand as the old global population rises and is used for various daily chores. The need for robotic nurses is also anticipated to expand in the following years due to significant technological breakthroughs and a more excellent investment in healthcare robotics research. The demand for robotic nurses is also expected to grow in the coming years due to significant technological advancements and increased research for healthcare robotics.
Increased funding and grants for creating nursing assistance robots that can successfully carry out a nurse's daily tasks are other factors fueling the need for robotic nurses. Robotic nurses are in greater demand than ever, but their higher costs limit the market's expansion. Additional variable costs include employee training, maintenance, and work process reorganization. Additionally, the market's development is being constrained by worries about the safety and security of these robots.
The Robotic Nurses market is segmented into product type, treatment type and end-user. Based on product type, the market is segmented into Autonomous Mobile Robots, Independence Support Robots and Daily Care & Transportation Robots. Based on the treatment type, the Robotic Nurses are segmented into Homecare Settings, Senior Care Facilities and Hospitals & Clinics. Based on end-user, the market is segmented into Hospitals, Specialty Clinics, Ambulatory care Settings and Research Organizations.
Based on product type, the independent support robots segment is accounted as a major contributor to the Robotic Nurses market.
Independence support robots dominated the market in terms of revenue. As these robots are extremely helpful in caring for such patients, the market expansion is being fueled by an increase in the number of disabled individuals and the proportion of older people suffering from chronic diseases. Additionally, these robots can complete human duties faster and more accurately than humans, and this is beneficially assisting the market's expansion. During the forecast period, the daily care and transportation robots segment is anticipated to grow faster. These robots process hospital workflow independently, improving the healthcare industry's caliber and output.
The Homecare settings segment witnessed growth at a rapid rate.
In homecare settings, robotic nurses are frequently utilized so that seniors can live peacefully in their own homes rather than depend on pricy hospitals and nursing homes. These robotic aides handle routine chores like checking blood pressure and sugar levels. Robotic nurses are also expected to increase the effectiveness and caliber of the care provided by nurses and other professional staff, which will impact market expansion.
The North American Robotic Nurses market holds a significant regional revenue share.
The North American Robotic Nurses market is expected to register the highest market share in revenue in the near future due to rising demand for technologically improved nursing care and increasing healthcare spending. In North America, a growing senior population is also anticipated to support market expansion. The latest technological developments are made to preserve the nurse-to-patient ratio, which promotes regional growth due to the region's concentration of essential businesses and their significant R&D spending, the robotic nurse market. In addition, Asia Pacific is projected to proliferate in the global Robotic Nurses market. Due to its growing investment in the service robotics sector, Japan is regarded as the country that contributes the most money to the whole regional market. Over the upcoming years, it is expected that Japanese expenditure will continue to rise tremendously. It is anticipated that Japan's ageing population will have a beneficial impact on market expansion.
The primary competitors in the market for Robotic Nurses have shifted their attention toward product manufacturing and are implementing significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players in order to expand their product portfolio and strengthen their presence in the global market. Some major key players in the Robotic Nurses market are Hstar Technologies, Diligent Robotics, Toyota Motor Corporation, RIKEN-SRK, SoftBank Robotics, Panasonic, Fraunhofer IPA, Aethon, and other prominent players.