Robotics Prosthetics Market
Robotics Prosthetics Market Size is projected to reach USD 1,269.6 million by 2030 at 9.30% CAGR during the forecast period 2022-2030.
The rising number of trauma cases and accidents and surging incidences if chronic diabetes has increased the number of amputation surgeries in the U.S. Robotics prosthetics help to mimic the functionality and appearance of missing body parts. The type of prosthetics always depends on the stability, size, use, type, and age of the person. Thus, consumers prefer customized robotics prosthetics depending on their requirements. The soaring demand for customized prosthetics will thus drive the robotic prosthetics market in the foreseeable future.
The advent of mind-controlled humonics is considered one of the most vital robotic prosthetic trends that is likely to impact the market growth, especially in the U.S. It helps to fulfill the unmet needs of volitional control and lost sensation and development of aesthetics like gestures, which is not possible with orthopedic prosthetics. With sensory feedback technology, humonics offer mind-controlled and user-centric prosthetics, thereby providing users complete control. Such advancements are estimated to encourage the market growth in the long run.
Robotics Prosthetics Market Insights and Analysis By Products (Prosthetic Arms, Prosthetic Feet/Ankles), Technology (Bluetooth, Myoelectric Technology) Application (Lower Body, Upper Body Extremity) And End Users (Hospitals, Clinics) - Global Forecast till 2030
On the contrary, robotic prosthetics are not well covered under insurance policies, which is likely to deter the market growth. Additionally, these prosthetics are expensive, thus making them inaccessible to the users. This is likely to restrict the market growth in the foreseeable future.
Major Key Players:
The robotics prosthetics market players include Touch Bionics Inc. (U.S.), HDT Global Inc (U.S.), Shadow Robot Company (U.K), SynTouch, LLC (U.S.), Smith Nephew (U.K), Stryker Corporation (U.S.), ReWalk Robotics (Israel), Aethon (U.S.), KUKA Roboter GmbH (Germany), Medrobotics Corporation (U.S.), Mazor Robotics Ltd. (Israel), Intuitive Surgical, Inc. (U.S.), Transenterix, Inc. (U.S.), Hansen Medical, Inc. (U.S.), and ZOLL Medical Corporation (U.S.).
Segment Analysis
The global robotics prosthetics market has been segmented on the basis of technology, product, application, and end user.
By product, the market is segmented into prosthetic feet/ankles, prosthetic arms, prosthetic hands, prosthetic legs/knees, and others.
By technology, the market is segmented into Bluetooth, prosthetic foot materials, myoelectric technology, microprocessor knees, and others.
By application, the market comprises lower body extremity and upper body extremity.
The end users segment comprises clinics, hospitals, and others.
Regional Analysis
Geographically, the robotics prosthetics market spans across Europe, Asia Pacific, America, and the Middle East Africa.
Considering the global scenario, America is likely to dominate the robotics prosthetics market, mainly due to constantly developing technology, coupled with the rising incidences of orthopedic diseases. As per a study published in 2015 by Center of Disease Control and Prevention, the incidences of low bone mass at the femur neck and osteoporosis in the U.S. are more prevalent in adults of 50 years. This has further contributed to the market growth in America.
Europe acquires the second position in the global market due to high support from the government for RD activities, coupled with the high availability of funds for research. Countries like France and Germany are increasing their investments in the healthcare domain, which is further supporting the regional market’s growth.
Meanwhile, the Asia Pacific is likely to register a significant growth rate, with countries like China and India considered to expand at the fastest rate owing to the presence of geriatric population, high availability of funds, and rising awareness regarding latest technologies. The region is open to embrace the latest technologies and best treatment options from developed nations to improve the lives of their citizens. The surging demand for quality devices in the healthcare sector is estimated to increase the regional market’s growth. Moreover, the low treatment cost in India is a major factor driving the market’s course.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans conducts meet with the industry experts and industrial visits for its research analyst members.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 646 845 9312
