The eldercare-assistive robots industry in East Asia was valued at US$ 5.81 million in 2018. Sales of eldercare-assistive robots increased at a CAGR of 13.7% from 2018 to 2022. The industry is expected to reach a valuation of US$ 10.92 million in 2023.
The demand for eldercare-assistive robots in East Asia is projected to exhibit a CAGR of 13.9% over the projection period and reach a value of US$ 40.37 million by 2033.
East Asia Eldercare-assistive Robotic Industry Trends
| Attributes | Details |
|---|---|
| Eldercare-assistive Robotic Industry Size in East Asia (2022) | US$ 9.70 million |
| Estimated Industry Size (2023) | US$ 10.92 million |
| Forecasted Industry Size (2033) | US$ 40.37 million |
| Value-based CAGR (2023 to 2033) | 13.9% |
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The socially assistive healthcare industry in East Asia experienced slow growth during the historical period. Most of the vendors were focused on the research and development phase to form robotic companionship industry leaders. The elderly people in East Asia were hesitant to accept the change brought upon by the introduction of senior care robots.
As eldercare assistive robotics were deployed more into existing nursing-care facilities and hospitals, the manufacturers received feedback to improve the product. Gradually, the medical robots industry gained sufficient ground in other Asian countries, leading to a rapid expansion of the sector in Japan and South Korea as well. With further advancement of robotics for senior independence in East Asia, elderly people are expected to get used to the robots and become more accepting.
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The tables below provide a glimpse of how senior care robots are getting accepted in different geographical regions. The eldercare-assistive robot sector in the United Kingdom is anticipated to witness a stronger growth trend due to the presence of many leading industry players. Meanwhile, the eldercare-assistive robot sector in Europe is to be at par with the East Asia region.
Demand for Eldercare-Assistive Robots in East Asia:
| Attributes | Demand for Eldercare-Assistive Robots in East Asia |
|---|---|
| CAGR (2023 to 2033) | 13.9% |
| Key Trend | Government campaigns endorsing technological advancements in senior care have increased the production and adoption of eldercare-assistive robots in East Asia. |
| Key Challenge | The high cost of production and the requirement of skilled personnel for the development of smart eldercare robotics is a key challenge for regional industry expansion. |
Popularity of Eldercare-Assistive Robots in the United Kingdom:
| Attributes | Popularity of Eldercare-Assistive Robots in the United Kingdom |
|---|---|
| CAGR (2023 to 2033) | 18.5% |
| Key Trend | By adding cutting-edge technology like AI, ML, and sensors, manufacturers have improved their eldercare-assistive robots’ functionality and appeal to consumers. |
| Key Challenge | Strong data privacy laws have limited the use of patients’ or elders’ personal data in the development of robotic companionship for seniors. |
Adoption Scenario of Eldercare-Assistive Robots in Europe:
| Attributes | Adoption Scenario of Eldercare-Assistive Robots in Europe |
|---|---|
| CAGR (2023 to 2033) | 16.5% |
| Key Trend | Healthcare labor shortage is a prominent problem faced by many European countries that is driving the demand for healthcare companion robots for elderly people. |
| Key Challenge | The unavailability of sufficient infrastructure or technical know-how in many Eastern European countries is likely to slow down the growth of the whole region. |
| Countries | CAGR (2023 to 2033) |
|---|---|
| Japan | 14.8% |
| South Korea | 12.0% |
The eldercare-assistive robot industry in Japan holds a dominant share of 64.1% in 2023. Over the next ten years, eldercare-assistive robot sales in Japan are likely to rise at a CAGR of 14.8%.
The eldercare-assistive robots industry in South Korea is expected to grow at a CAGR of 12.0% over the forecast period. Some of the key reasons that are expected to drive the regional industry of South Korea through the projected years include:
The robot companion pets segment is estimated to have the dominant industry share of 69.6% in 2023, with a total valuation of US$ 7.65 million by 2033. This segment is likely to expand at a rate of 12.8% through the forecast years.
| Top Robot Type | Robot Companion Pets |
|---|---|
| Value CAGR (2023 to 2033) | 12.8% |
The personal or residential end-use vertical is expected to grow at a CAGR of 15.6% over the forecast period.
| Top End-Use Vertical | Personal or Residential |
|---|---|
| Value CAGR (2023 to 2033) | 15.6% |
Key players are focusing on product innovation. This means that they are focused on integrating new technologies, such as advancements in artificial technology (AI), into their product line. Smart eldercare robotic and AI-based solutions allow robots to perform much more tasks such as better understanding the person’s emotions and queries.
Focus on Research and Testing
Many companies are focused on testing their robots for eldercare. It is primarily done through the use of test runs where the robot is deployed into a nursing center and data about user feedback and quality of service provided is collected.
Expanding Product Line
As the healthcare assistive robot industry size is expanding, companies are looking to expand their line of products. The development and manufacture of smart eldercare robotics for various use cases are expected to enable the companies to grow by targeting a broader demographic.
Expansion into Emerging Regions
As the Asia Pacific eldercare-assistive robots industry expands, vendors in Japan and South Korea are expected to expand into other emerging countries in the neighborhood. This diversification is also anticipated to allow them to tap into new customer bases and support businesses in emerging economies with their assistive robots.
Looking to Expand Abroad
Some of the leading industry players are looking to expand into Europe and North American countries. It is expected to increase their share and also help develop robotics for the aging population by gaining access to feedback from a broader demographic and more variety in terms of culture.
Key Developments in the Eldercare-Assistive Robots in East Asia
Related Industry Growth Outlook Scenario
| Particulars | CAGR (2023 to 2033) |
|---|---|
| Service Robotics | 21.0% |
| Edge AI | 20.8% |
| Medical Electronic | 6.8% |
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | US$ 10.92 million |
| Projected Industry Size in 2033 | US$ 40.37 million |
| Anticipated CAGR from 2023 to 2033 | 13.9% CAGR |
| Historical Analysis of Demand for Eldercare-Assistive Robots in East Asia | 2018 to 2022 |
| Demand Forecast for Eldercare-Assistive Robots in East Asia | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Eldercare-Assistive Robot Sales in East Asia, Insights on Global Players and their Industry Strategy in East Asia, Ecosystem Analysis of Local and East Asia Providers |
| Key Countries Analyzed while Studying Opportunities in Eldercare-Assistive Robots in East Asia | Japan, South Korea |
| Key Companies Profiled | Intuition Robotics (ElliQ); Luvozo (SAM); Nanjing AvatarMind Robot Technology Co., Ltd. (iPal); Blue Frog Robotics (Buddy); Ageless Innovation, LLC (JOY FOR ALL Companion Pets); Akara Robotics Ltd. (Stevie); SoftBank Robotics; Sony Corporation; Consequential Robotics (MiRo) |
The East Asia eldercare-assistive robots industry value is estimated to be US$ 10.92 million in 2023.
The eldercare-assistive robots industry is likely to follow a 13.9% CAGR from 2023 to 2033.
The robot companion pet segment is predicted to hold the dominant industry share of 69.6% in 2023.
The eldercare-assistive robots industry is predicted to reach US$ 40.37 million by 2033.
The demand for robot companion pets is estimated to grow at a CAGR of 12.8% over the forecast period.
1. Executive Summary 1.1. Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Pricing Analysis – Cloud Backup Services 3.1. Pricing Analysis by Robot Type 3.2. Average Pricing Analysis Benchmark 4. Market Dynamics 4.1. Drivers 4.2. Restraints 4.3. Opportunities 5. Market Demand (Value in US$ Million) Analysis 2018 to 2022 and forecast, 2023 to 2033 5.1. Historical Market Size (US$ Million) Analysis, 2018 to 2022 5.2. Current and Future Market Size (US$ Million) Analysis and Forecast, 2023 to 2033 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Robot Type 6.1. Introduction / Key Findings 6.2. Historical Market Size (US$ Million) Analysis By Robot Type, 2018 to 2022 6.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Robot Type, 2023 to 2033 6.3.1. Robot Companion Pets 6.3.2. Eldercare Service Robots 6.4. Market Attractiveness Analysis By Robot Type 7. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, End-Use 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ Million) Analysis By End-Use, 2018 to 2022 7.3. Current and Future Market Size (US$ Million) Analysis and Forecast By End-Use, 2023 to 2033 7.3.1. Personal / Residential 7.3.2. Senior Living Communities 7.3.3. Nursing Care Centers 7.3.4. Others 7.4. Market Attractiveness Analysis By End Use 8. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Country 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Million) and Analysis By Country, 2018 to 2022 8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Country, 2023 to 2033 8.3.1. Japan 8.3.2. South Korea 8.4. Market Attractiveness Analysis By Country 9. Japan Market Analysis 2018 to 2022 and Forecast 2023 to 2033 9.1. Introduction 9.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.3.1. By Robot Type 9.3.2. By End Use 9.4. Market Attractiveness Analysis 9.4.1. By Robot Type 9.4.2. By End Use 10. South Korea Market Analysis 2018 to 2022 and Forecast 2023 to 2033 10.1. Introduction 10.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.3.1. By Robot Type 10.3.2. By End Use 10.4. Market Attractiveness Analysis 10.4.1. By Robot Type 10.4.2. By End Use 11. Country Wise Market Analysis 11.1. Japan Market Analysis 11.1.1. By Robot Type 11.1.2. By End Use 11.2. South Korea Market Analysis 11.2.1. By Robot Type 11.2.2. By End Use 12. Competition Analysis 12.1. Dashboard for Key Vendors 12.2. Competition Deep Dive 12.2.1. Intuition Robotics (ElliQ) 12.2.1.1. Business Overview 12.2.1.2. Product Portfolio 12.2.1.3. Go-to-Market Approach & Strategies 12.2.1.4. Recent Developments (Partnerships, Mergers, etc.) 12.2.2. Luvozo (SAM) 12.2.3. Nanjing AvatarMind Robot Technology Co., Ltd. (iPal) 12.2.4. Blue Frog Robotics (Buddy) 12.2.5. Ageless Innovation, LLC (JOY FOR ALL Companion Pets) 12.2.6. Akara Robotics Ltd. (Stevie) 12.2.7. SoftBank Robotics 12.2.8. Sony Corporation 12.2.9. Consequential Robotics (MiRo) 13. Assumptions and Acronyms Used 14. Research Methodology
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Eldercare-Assistive Robots Industry Analysis in East Asia
