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Soft Robotics Market

Global Soft Robotics Market Size, Share, Trends, Forecast: By Application: Human-Machine Interface and Interaction, Locomotion and Exploration, Manipulation, Medical and Surgical Applications, Rehabilitation and Wearable Robots; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Soft Robotics Market Outlook

The global soft robotics market attained a value of about USD 2,580.35 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 34.9% to reach about USD 38,173.02 million by 2032.

 

Global Soft Robotics Market

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Versatility and Flexibility of Soft Robots to Augment the Market Growth

The soft robotics industry is being driven by the new possibilities offered by these robots against rigid robotic technology and the need to evolve human-friendly machinery. Soft robots are versatile in nature, in opposition to the traditional, metallic robots, which are rigid, thus, providing lucrative future growth prospects for the market. As soft robots are made from flexible and soft materials, including nanomaterials, they can perform biological functions as that of human muscles. This characteristic of soft robots is expected to pave their adoption in a variety of applications, including medical, industrial, and locomotive, thus, boosting the market growth. Developments in soft robotics technology are expected to introduce robots, which will be able to lift heavy products, will have to ability to heal themselves, and have the climb to significant heights. Such specifications, when integrated with human-like flexibility, is anticipated to provide further momentum to the market growth, especially due to their growing use in construction and related activities.

Soft robots derive their flexibility from squishy materials like polymers, gels, and fluids. These soft materials allow the robots to bend and turn with high curvatures, allowing them to navigate through closed spaces, making them helpful in disaster scenarios like earthquakes or fires, thereby driving the market growth of soft robotics by propelling their adoption during emergency situations. Since soft robots handle the environment with delicacy, their growing applicability in sensitive environmental locations like the coral reefs or in snow-covered land is expected to further invigorate the market growth of soft robotics.

 

Soft Robotics: Market Segmentation

Soft robotics are a sub-division of robotics, with soft robots being made from flexible materials like polymers, gels, and fluids. They have excellent flexibility, which allows them to adapt to their environment and change their shape, if needed. They are a form of biomimicry as soft robots are sophisticated models that imitate humans, animals, and plant lives, in addition to their mechanical functions.

 

Global Soft Robotics Market by Segment

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On the basis of application, the market is segmented into:

  • Human-Machine Interface and Interaction
  • Locomotion and Exploration
  • Manipulation
  • Medical and Surgical Applications
  • Rehabilitation and Wearable Robots

The EMR report looks into the regional markets of soft robotics like North America, Europe, Latin America, the Asia Pacific and the Middle East and Africa.

 

Global Soft Robotics Market by Region

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Growing Medical and Surgical Applications of Soft Robots to Boost the Market Growth of Soft Robotics

The growing demand for soft robots in medical and surgical applications is expected to drive the market growth in the coming years. Amidst the COVID-19 pandemic, the requirement for devices that eliminate human involvement has been significantly rising, thus, it is further projected to catalyse the soft robotics industry growth. The rising demand for minimally invasive surgeries (MIS) is also anticipated to drive the market growth. Additionally, research projects in the healthcare sector may lead to new manufacturing techniques, which can develop disposable, patient-specific, low cost, and rapidly manufactured devices for MIS, providing lucrative growth prospects for the soft robotics industry. The ability of soft robots to interact with humans, building on their ability to deal with unstructured environments and compliance with human tissue, is expected to provide further impetus to the market growth. Technological growth has also made possible the increased use of magnetically navigable and vacuum-powered endoscopic single-site soft robots. This is expected to further invigorate the market growth in the coming years.

The easy availability of soft, compliant materials for soft robots that are economical and easy to handle are further expected to add to the market growth of soft robotics. The added advantage of being cost friendly as compared to traditional robots is also expected to propel their adoption, thus, aiding the market growth. Thus, soft robots are projected to be widely available in a multitude of medical services in coming years, as a result, driving the market growth. Advancements in biotechnology have introduced these robots in dental application as the conventional bulky machinery is being gradually replaced with soft bracing machines. The growing popularity of soft robots in dentistry is broadening due to their compact structure and cost-effectiveness, hence, providing further future growth prospects to the market.

 

Key Industry Players in the Global Soft Robotics Market

The report presents a detailed analysis of the following key players in the global soft robotics market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.

  • Ekso Bionics Holdings Inc.
  • ReWalk Robotics Ltd. 
  • Soft Robotics Inc.
  • Righthand Robotics, Inc.
  • BioServo Technologies AB
  • Pneubotics Inc
  • Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • Region
Breakup by Application
  • Human-Machine Interface and Interaction
  • Locomotion and Exploration
  • Manipulation
  • Medical and Surgical Applications
  • Rehabilitation and Wearable Robots
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ekso Bionics Holdings Inc
  • ReWalk Robotics Ltd
  • Soft Robotics Inc.
  • RightHand Robotics, Inc.
  • Bioservo Technologies AB
  • Pneubotics Inc
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Soft Robotics Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Soft Robotics Historical Market (2018-2023) 
    8.3    Global Soft Robotics Market Forecast (2024-2032)
    8.4    Global Soft Robotics Market by Application
        8.4.1    Human-Machine Interface and Interaction
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Locomotion and Exploration
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Manipulation
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Medical and Surgical Applications
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Rehabilitation and Wearable Robots
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
    8.5    Global Soft Robotics Market by Region
        8.5.1    North America
            8.5.1.1    Historical Trend (2018-2023) 
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Europe
            8.5.2.1    Historical Trend (2018-2023) 
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Asia Pacific
            8.5.3.1    Historical Trend (2018-2023) 
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Latin America
            8.5.4.1    Historical Trend (2018-2023) 
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Middle East and Africa
            8.5.5.1    Historical Trend (2018-2023) 
            8.5.5.2    Forecast Trend (2024-2032)
9    North America Soft Robotics Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Soft Robotics Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Soft Robotics Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Soft Robotics Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Soft Robotics Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value  Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Ekso Bionics Holdings Inc
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    ReWalk Robotics Ltd
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Soft Robotics Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    RightHand Robotics, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Bioservo Technologies AB
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Pneubotics Inc
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Soft Robotics Market: Key Industry Highlights, 2018 and 2032
2.    Global Soft Robotics Historical Market: Breakup by Application (USD Million), 2018-2023
3.    Global Soft Robotics Market Forecast: Breakup by Application (USD Million), 2024-2032
4.    Global Soft Robotics Historical Market: Breakup by Region (USD Million), 2018-2023
5.    Global Soft Robotics Market Forecast: Breakup by Region (USD Million), 2024-2032
6.    North America Soft Robotics Historical Market: Breakup by Country (USD Million), 2018-2023
7.    North America Soft Robotics Market Forecast: Breakup by Country (USD Million), 2024-2032
8.    Europe Soft Robotics Historical Market: Breakup by Country (USD Million), 2018-2023
9.    Europe Soft Robotics Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Asia Pacific Soft Robotics Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Asia Pacific Soft Robotics Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Latin America Soft Robotics Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Latin America Soft Robotics Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Middle East and Africa Soft Robotics Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Middle East and Africa Soft Robotics Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Global Soft Robotics Market Structure

Key Questions Answered in the Report

In 2023, the market attained a value of nearly USD 2,580.35 million.

The market is projected to grow at a CAGR of 34.9% in the forecast period of 2024-2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 38,173.02 million by 2032.

The major market drivers are the versatility offered by soft robotics, developments in soft robotics technology, and the rising use of soft robotics in construction activities.

The growing adoption of soft robotic technology in medical and surgical use and the easy availability of soft and compliant materials for soft robots are the key trends propelling the market growth.

The major regional markets for soft robotics are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

The significant applications of soft robotics are human-machine interface and interaction, locomotion and exploration, manipulation, medical and surgical applications, and rehabilitation and wearable robots.

The major players in the market are Ekso Bionics Holdings Inc., ReWalk Robotics Ltd., Soft Robotics Inc., Righthand Robotics, Inc., BioServo Technologies AB, and Pneubotics Inc, among others.

Analyst Review

The global soft robotics market attained a value of about USD 2,580.35 million in 2023, driven by the easy availability of flexible, cost-effective raw materials. Aided by their rising use in minimal invasive surgery (MIS) in the health sector, the market is expected to grow at a CAGR of 34.9% in the forecast period of 2024-2032 to reach USD 38,173.02 million by 2032.

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. Based on application, the market is categorised into human-machine interface and interaction, locomotion and exploration, manipulation, medical and surgical applications, and rehabilitation and wearable robots. The major regional markets for soft robotics are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. They key players in the industry are Ekso Bionics Holdings Inc., ReWalk Robotics Ltd., Soft Robotics Inc., Righthand Robotics, Inc., BioServo Technologies AB, and Pneubotics Inc, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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