Global Robotic Prosthetics Market- Industry Analysis, Growth, Segmentation and Forecast-2019-2027

The Global Robotic Prosthetics market was valued at $xx Mn in 2019 and is expected to reach $xx Mn by 2027, at a CAGR of xx%.

Global Robotic Prosthetics Market Introduction

Robotic Prosthetics is a process of replacing, lost/amputated body parts with artificially controlled parts. Prosthetics are aimed at restoring the standard functions of the absent body parts. These prosthetics can be produced by hand or with the help of a software interface- CAD (Computer-aided design). Advances in the technology of the prosthetic components have increased the possibility of successful fitting of the geriatric amputee with a prosthesis. The advances in technology are expected to be an opportunity for investors to invest in the robotics market, thereby driving the market growth. Also, increasing government funds for robotic space is expected to elevate the market.

Key drivers and restraints

• The increasing cases of amputation, owing to rising accidents, rise in diseases such as diabetes, vascular diseases, arthritis, and other abnormalities have led to an increased demand for the robotic prosthetics market.

• Advanced technologies, favorable policies announced by the government, initiatives taken by non-profit organizations and increase in knowledge about prosthetics among people is boosting the market growth.

• Increased use of connective technologies such as Bluetooth, microprocessors, and myoelectric technology has resulted in rising demand for such devices.

• Government Agencies such as CDC and Defense Advanced Research Projects Agency (DARPA) are exhibiting support in R&D fields.

• In 2019, HDT global announced that it will provide a robotic arm and manipulator to QinetiQ North America (QNA) to support the U.S Army’s Common Robotic System-Individual (CRS (I)) program. The US government is increasingly investing in robotic technology, which is used in amputation.

• High cost of prosthetics are expected to restrain the market growth.

The report provides a detailed analysis about the Robotic Prosthetics market. It includes the recent advances, applications and ongoing trends globally. Funding for treatments, partnerships between key players, revenue forecasts of companies are also provided in detail in the report. The report also provides information on application areas to help investors invest rightly.

The report has profiled nine key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analysing the market and estimation the size of the same. The growing healthcare infrastructure in each region is different and focus is given on availability of advanced technology and new techniques.

Global Robotic Prosthetics Market Segment Analysis

Based on technology, MPC Prosthetics held a significant share of xx% in 2019. This segment is expected to dominate the market with an increasing CAGR of xx% in the forecast period.

The easy availability of products using this technology is a key driver for the segment to grow. Increasing research about the products which use MPC technology is also an important facet for the significant share of this segment. Key players are investing in MPC prosthetics, owing to its increasing demand. The innovation of more products based on the MPC technology is also expected to elevate the market.

The myoelectric prosthetic technology segment is expected to grow at a rate of 10% in the forecast period. This technology uses electric signals for limb movement. Also, the increasing R&D activities, fundraising institutions, and steps taken by the government are responsible for the segment to expand. New product launches in the future are expected to boost the market.

By application, the lower body extremity segment held the largest market share of xx% in 2019. The segment is expected to grow at a rate of 9.5% in the forecast period. The demand for lower-body prosthetics for the geriatric and disabled population is growing at a fast rate. The large availability of lower body extremity devices in the market and the launch of more new products are leading to the segment growth.

Global Robotic Prosthetics Market

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Global Robotic Prosthetics Market segmentation

The Global Robotic Prosthetics Market is segmented based on-

Global Robotic Prosthetics Market, Product Type

• Prosthetic Arm

• Prosthetic Knee

• Prosthetic Feet/Ankle

• Prosthetic Hand

Applications

• Upper Body Extremity

• Lower Body Extremity

Technology

• MPC (Microprocessor Controller) Prosthetics

• Myoelectric Prosthetics

End-users

• Hospitals

• Speciality Centers

• Others

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Global Robotic Prosthetics Market Regional Insights

Global Robotic Prosthetics Market1

North America dominated the robotic Prosthetics Market in 2019 with a share of 43.5%. Growing research activities, advanced treatment techniques, favorable reimbursement policies, development of novel products are the multiple factors boosting the growth of the market in this region. Moreover, the efforts of key players in developing new and efficient drug pipelines is boosted the regional demand for the market.

The Asia Pacific is expected to witness growth in the forecast period. Owing to the increasing population and rising amputated cases, growing healthcare facilities in developing nations, and advanced treatment options, the market in this region is anticipated to grow. Moreover, increasing medical tourism in the region is expected to drive the market.

Key players of the Global Robotic prosthetics Market

• Touch Bionics, Inc

• Human Technology, Inc

• HDT Global

• Shadow Robot Company

• SynTouch, Inc

• Ottobock

• Endolite

• Ossur Americas

• Open Bionics

The report also helps in understanding Global Robotic prosthetics Market dynamics, structure by analysing the market segments and project the Global Robotic prosthetics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Robotic prosthetics Market make the report investor’s guide.

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