Elder Care Assistive Robots Market Size, Share, By Type (Physically Assistive Robots, Socially Assistive Robots), By Functionality (Social Interaction, Monitoring & Surveillance, Mobility Assistance, Fall Detection and Prevention, Cognitive Stimulation, a

Elder Care Assistive Robots Market Size, Share, By Type (Physically Assistive Robots, Socially Assistive Robots), By Functionality (Social Interaction, Monitoring & Surveillance, Mobility Assistance, Fall Detection and Prevention, Cognitive Stimulation, and Others), and By Region - Trends, Analysis and Forecast till 2034

Elder care assistive robots market is driven by increasing shortage of care givers, increasing burden of health facilities. In addition, rising investments by government and non-government bodies are another factors propelling growth of the global market. Furthermore, growing elderly population globally is also anticipated to create opportunities for growth of the global market over the forecast period.

Elder Care Assistive Robots Market Report Highlights:

• The elder care assistive robots market size was valued at USD 2.55 billion in 2023.
• The market is expected to be USD 9.2 billion by 2034 registering a CAGR of 15.1%.
• By type, physically assistive robots dominate the target market.
• By functionality, the social Interaction function holds the largest share of the targeted market.
• North America held the largest elder car assistive robots market share in 2024.
• Asia Pacific is projected to be the fastest-growing region in the market during the forecast period.

Elder Care Assistive Robots Market Key Highlights:

Asia Pacific: This region is expected to dominate the growth of the market during the forecast period due to the rapidly aging population, presence of domestic players, increasing interest in using technology, and government support.

North America: This region is considered to be the fastest growing region in the target market as countries, such as the U.S., Canada, and many more, are leading the charge significantly due to increasing investment in healthcare sector, and rising adoption of innovative technologies.

Elder Care Assistive Robots Market Report Analysis:

Technological Assistance to the Elderly:

Due to advancements in artificial intelligence and information and communication technologies (ICT), there has been an increase in interest in the usage of mobile digital technologies in recent decades.

These technologies provide tele-assistance and support to older individuals in their everyday lives and in managing their health. While preventing loneliness, these technologies also make it possible to diagnose illnesses, manage medications, track physical activity, detect falls, and make emergency calls.

For instance, the MoveCare platform, which combines smart devices, home automation sensors, virtual reality, and a virtual caregiver, including a robotic one, was created and tested as part of a large multicentric project funded by the European Horizon2020 Program. Due to its modular architecture, the system is customized to accomplish ecological monitoring of ageing for each senior by taking measures during routine daily activities. Further, this system gives carers up-to-date information on the elder's condition.

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Competitive Landscape of Elder Care Assistive Robots Market:

The leading players in the market are Intuition Robotics, SoftBank Robotics America, Inc., Toyota (GB) PLC., Blue Frog Robotics, YUJIN ROBOT Co., Panasonic Holdings Corporation, PARO Robots U.S., Inc., Kinova inc., TOGO SEISAKUSYO CORPORATION, Aldebaran & United Robotics Group, Cyberdyne USA Inc., OMRON Corporate, Hongkong ATEAGO Technology Co, Ltd., and Labrador Systems, Inc.