Rising investment in healthcare robotics is leading to growth in Robotic Nurse Assistant Market and this is further fuelled by rise in geriatric population worldwide. Currently, in Asia, Japan has 27% of population in t5he age bracket of 65 and above. America has 15% of its population in this age bracket and the numbers are only going to grow over the forecast period.
Thus, the global robotic nurse assistant market will see a stellar CAGR (Compound Annual Growth Rate) between 2018 and 2028. It will create growth opportunities for market players to tap into and also contribute to the market worth considerably.
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Global Robotic Nurse Assistant market: Competitive Landscape
The landscape of global robotic nurse assistant market is witnessing significant developments that are shaping both its competitive future as well as overall appearance. A glimpse is provided below.
The global robotic nurse assistant market is Oligopolistic. And, prominent players in the global robotic nurse assistant market are Hstar Technologies, Diligent Robotics, Toyota Motor Corporation, RIKEN-SRK, SoftBank Robotics, Panasonic, Fraunhofer IPA, Aethon and others. It is not hard to guess that the competition is intense too.
Current focus for most companies in order to chart growth in the global robotic nurse assistant market is through investment in better technology. Thus, Research and Development is the core strategy for most. In order to capture opportunities, it is important to focus on peculiar problems of specific regions. Besides, in order to stay ahead of the growth curve, players would want to get in there fast and then maintain solid grasp through continual improvement.
Global Robotic Nurse Assistant Market: Key trends and driver
The global robotic nurse assistant market is being driven on to a high growth trajectory, owing to a number of factors. Some of the most potent ones are outlined below:
- Technological advancement and its swift adoption will lead to growth in the global robotic nurse assistant market. As governments across the world direct their efforts to improve medical outcomes, use of technology in healthcare will only increase. And, as this increases, it will harbour good news for robotic nurse assistant market.
- The year 2018 has been historic in terms of demographic shift. It saw the number of people aged 65 and above surpass the number of people aged 5 and below. This kind of a shift was witnessed by mankind for the first time in its course. And, it is believed that by 2050, one in six people will fall into this bracket, the club thus will be expanding quickly. Besides, the situation is particularly severe in North America and Europe where the ratio of old people to the rest is 1:4. As this population rises, so will need for technology to replace human nurse support. And, thus would improve the scenario for global robotic nurse assistant market.
Global Robotic Nurse Assistant Market: Regional Analysis
North America will dominate the market over the forecast period owing to better financial shape of the hospitals that flank he region. Besides, insurance coverage is decent. Moreover, patients are more willing to adopt tech than in other regions of the world. Besides, in countries in the region, there is usually a mandate spelling out nurses to patients ratio. And, it will help in contributing to the growth of global robotic nurse assistant market.
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The second largest share would be that of Europe, owing to rapidly rising geriatric population, government help in improving healthcare outcomes, and high spending capacity of people in the region.
Another region that is worth setting eyes on is Asia Pacific, which is not just witnessing rapid technological advancement but also seeing a a large number of population in the geriatric age group.
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5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
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