There are currently 62 million Americans aged 65 and older, accounting for 18% of the total population. This figure is expected to increase to 84 million, or 23% of the population, by 2054.
Japan dominates the age tech robotics market due to its aging population, eager embrace of new technology, and a culture that values the integration of robots into daily life. The country's rapidly aging population has led to a demand for innovative solutions to address issues faced by older adults, and Japanese companies have been at the forefront of developing robotics to cater to this demographic.
Paro is a therapeutic robot baby harp seal, designed by Takanori Shibata and developed by Japan's National Institute of Advanced Industrial Science and Technology3. It was first exhibited to the public in late 2001, costing US$15 million to develop, and has been sold commercially since 2004.