Global Intelligent Soft Robotics Market Research Report: Forecast (2023-2028)

Market Definition

Intelligent Soft Robotics is a sub-segment of robots that enable re-programmable, multipurpose, & flexible systems that can smartly link sensing action. They are systems specifically designed and manufactured from materials with mechanical properties similar to living tissues. They allow the operator or end-users to combine tissue engineering to manufacture the hybrid systems used for healthcare applications & other sectors.

Market Insights & Analysis: Global Intelligent Soft Robotics Market (2023-28)

The Global Intelligent Soft Robotics Market size was valued at USD 783.86 million in 2022 and is projected to grow at a CAGR of around 37% during the forecast period, i.e., 2023-28. The ever-evolving automation trends in various industries, such as automotive, healthcare, logistics, manufacturing, aviation, food & beverage, space exploration, agriculture, defense, rehabilitation, & household sectors, among others, to increase productivity while maintaining workforce safety and reducing production costs, are the prime factors driving the intelligent soft robotics market growth.

Among all end-user verticals, the healthcare sector, where delicate & complex tasks require precise performance, is a significant growth area for the intelligent soft robotics market and is poised to create a plethora of opportunities for the leading industry players in the coming years. Active research and continuous innovations & development toward advancing soft robots to meet the specific requirements of various industries also indicate substantial market expansion for intelligent soft robotics in the forecast years.

Soft robots hold immense potential to revolutionize industrial processes and enhance efficiency while enabling cost-effective production, leading to a strong global economy. Advancements in materials & production techniques have resulted in the development of highly sophisticated & durable soft robots with better performance, amplifying their adoption in research & industrial applications.

The integration of AI & ML (Machine Learning) capabilities has enabled these machines to learn & improve their actions based on real-world experiences, i.e., particularly beneficial in tasks, such as robotic prosthetics & autonomous vehicles. Several manufacturers are actively working toward developing efficient, self-powered, soft assistive, & autonomous robots to cater to the varied demands of these industries. The leading players like Walmart, Amazon, & Costco, among others, are realizing the value of soft robots in operations like warehouse management, further creating the demand for these machines and spurring the intelligent soft robotics industry growth.

Global Intelligent Soft Robotics Market Driver:

Ever-Increasing Adoption of Robotics in the Healthcare Sector: Soft Robots are being broadly utilized, implemented, and researched in the context of improving & technologically boosting the healthcare sector. Multiple achievements of robotic assistance for medical purposes have been driving the intelligent soft robotics market growth. Likewise, the use of wearables or exoskeletons to assist individuals with neurological conditions or physically fragile people is growing at an unprecedented pace, resulting in market participants launching numerous innovative products to assist in rehabilitation & other medical purposes for patients & doctors and consequently expanding the market.

Global Intelligent Soft Robotics Market Possible Restraint:

Expensive Installation & Maintenance of Soft Robots: Since the field of soft robots is yet at its developmental stage, i.e., more production of robots and fewer launches in the market, the growth of the intelligent soft robotics market during 2023-28 might be hindered by the high cost associated with the production, installation, & maintaining such machines. This, combined with lesser awareness about soft robots in numerous sectors where they are applicable, is another aspect that might diminish the demand for these devices by eliminating the chances of mass production.

Global Intelligent Soft Robotics Market (2023-28): Segmentation Analysis

The Global Intelligent Soft Robotics Market study from MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Type:

• Collaborative Robots (Co-Robots)
• Inflated Robots
  • Engine Inspection
  • Marine Inspection
  • Space Exploration
  • Radioactive Environment
• Soft Grippers
• Wearables

Of them all, wearables are gaining traction and are projected to notably contribute to the growth of the Global Intelligent Soft Robotics Market during 2023-28. It owes to the ever-rising utilization of wearables for rehabilitation programs in the healthcare sector to train muscle movements, guide those with a disability, and aid in injury recovery. Wearables are designed with soft & flexible materials that can be worn comfortably by humans to help them with various tasks or enhance their physical abilities.

These devices hold the potential to improve the life quality of individuals with mobility challenges by increasing their grip strength & dexterity, thereby enhancing human performance. In addition, their growing application in the military sector to counteract weariness & injury among combatants is another aspect amplifying their demand and, in turn, creating expansion opportunities for the leading companies operating in the intelligent soft robotics industry.

Based on End-User:

• Healthcare
  • Prosthetics
  • Soft Surgical Robots
• Logistics
• Defense
• Food & Beverage
• Space

Here, the healthcare sector is expected to garner a significant market share during 2023-28, owing to the ever-increasing demand for soft robots in medical & surgical applications drives it. Since soft robots have the advantage of being compliant with natural tissues, they have immense potential to be utilized to perform minimally invasive surgery (MIS), especially microsurgery, as they overcome the limitation of a low degree of freedom. In addition, soft robots can be drug carriers for targeted therapies, particularly cancer diagnosis & treatment.

They also have the potential for prosthetics, i.e., helping in repairing or replacing damaged muscles & body parts. Furthermore, soft robots can also aid in saving lives by assisting in heart pumping or even functioning as artificial hearts for individuals suffering from heart failure. Hence, the global healthcare industry's active focus on enhancing patient care, improving surgeries, and creating more comfortable wearables is set to boost the intelligent soft robotics market over the coming years.

Global Intelligent Soft Robotics Market Regional Projection:

Geographically, the Global Intelligent Soft Robotics Market expands across:

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Globally, the Asia-Pacific Intelligent Soft Robotics Market is projected to witness significant growth during 2023-28. It owes to increased R&D efforts in the field, significant technological advancements, and massive investments in robotics & automation. Numerous industries in the region, such as manufacturing, food & beverage, & consumer goods, among others, are showing active interest in soft robots and thus are investing heavily in smart factories, robotics, automation, logistics, & the IIoT (Industrial Internet of Things), contributing to the regional market growth.

Residing countries, including China, India, South Korea, & Japan, are actively deploying automation technologies into their healthcare, logistics, & manufacturing sectors. They see exoskeleton & wearable robotics as a key to preventing workplace injury and aiding aging workers in staying in the workforce longer, resulting in them investing in soft robots due to their flexibility & adaptability in assisting injured or disabled people.

In addition, immense government support in the form of funding & favorable policies toward promoting R&D in robotics & automation is also furthering the regional market growth. Moreover, the flourishing automotive, electronics, & consumer goods end-user verticals are also increasingly deploying soft robots to improve production processes, quality control, & product assembly, thereby creating promising prospects for the Asia-Pacific Intelligent Soft Robotics Market in the years to come.

Global Intelligent Soft Robotics Industry Recent Developments:

• On 21 June 2023, CYBERDYNE Inc. announced that it had applied PMDA (Pharmaceuticals and Medical Devices Agency) for manufacturing & marketing approval for the newly developed small model of Medical HAL (Lower Limb Type) as a medical device for previously approved applicable diseases in Japan. The new small model is designed for patients with a body size below the applicable range of existing models already used as medical devices. This application for approval is expected to be a significant step forward in expanding treatment opportunities with Medical HAL for small patients who have been unable to use Medical HAL due to size incompatibility.
• On 7 March 2023, ReWalk Robotics Ltd., a leading provider of innovative technologies that enable mobility & wellness in rehabilitation & daily life for individuals with neurological conditions, announced that its innovative 'ReWalk Personal Exoskeleton' technology received clearance from the FDA (Food & Drug Administration) for use on stairs & curbs in the US, making it the only personal exoskeleton to receive FDA clearance for this indication.

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