The eldercare-assistive robots industry in East Asia was valued at USD 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 USD 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 USD 40.37 million by 2033.
East Asia Eldercare-assistive Robotic Industry Trends
| Attributes | Details |
|---|---|
| Eldercare-assistive Robotic Industry Size in East Asia (2022) | USD 9.70 million |
| Estimated Industry Size (2023) | USD 10.92 million |
| Forecasted Industry Size (2033) | USD 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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| 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 USD 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 | USD 10.92 million |
| Projected Industry Size in 2033 | USD 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 USD 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 USD 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 2. Market Overview 3. Pricing Analysis - Cloud Backup Services 4. Market Dynamics 5. Market Demand (Value in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Robot Type 6.1. Robot Companion Pets 6.2. Eldercare Service Robots 7. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 7.1. Personal / Residential 7.2. Senior Living Communities 7.3. Nursing Care Centers 7.4. Others 8. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Japan 8.2. South Korea 9. Japan Market Analysis 2018 to 2022 and Forecast 2023 to 2033 10. South Korea Market Analysis 2018 to 2022 12. Competition Analysis 12.1. Intuition Robotics (ElliQ) 12.2. Luvozo (SAM) 12.3. Nanjing AvatarMind Robot Technology Co., Ltd. (iPal) 12.4. Blue Frog Robotics (Buddy) 12.5. Ageless Innovation, LLC (JOY FOR ALL Companion Pets) 12.6. Akara Robotics Ltd. (Stevie) 12.7. SoftBank Robotics 12.8. Sony Corporation 12.9. Consequential Robotics (MiRo) 13. Assumptions and Acronyms Used 14. Research Methodology
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Eldercare-Assistive Robots Industry Analysis in East Asia
