Robotic Prosthetics Market Research Report- Global Forecast till 2030

Robotic Prosthetics Market Research Report Information: 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

ID: MRFR/MED/0808-HCR | 130 Pages | Author: Rahul Gotadki | October 2023         

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Robotic Prosthetics Market Overview

The worldwide Robotic Prosthetics Market is projected to reach USD 1,269.6 million by 2030 at 9.30% CAGR during the forecast period 2022-2030.

You must know that Robotics Prosthetics is considered a fake limb, which upgrades the individual's capacity and way of life with a missing body part. Advanced Robotics Prosthetics help to re-establish the ordinary capacity of the missing limbs effectively. Today fake limbs can be constrained by PC, cerebrum, and sensation with trendsetting innovation. Expanding interest for the cutting edge innovation, developing geriatric populace, and expanding pervasiveness of various sicknesses drive the market development of Robotic Prosthetics to a great extent. 

According to the Robotic Prosthetics Market report distributed by International Osteoporosis Foundation, in 2017, around one of every three ladies and one out of five men matured more than fifty years will probably experience the ill effects of delicacy break during their excess lifetime. Likewise, in the United Kingdom, around 536,000 individuals experience the ill effects of delicacy breaks every year, incorporating 79,000 hip cracks. The increase in breaks, expanding mindfulness among individuals towards the utilization of inventive advances and high medical care spending, have energized the Market development. 

Be that as it may, accessibility of costly treatment and helpless repayment arrangements in the creating locales of the world are a portion of the variables, which might restrain the Market development during the forecasted time frame. Some of the additional factors validating the Market development incorporate the consistently expanding populace and urbanization. Further developing monetary conditions overall encourage the Robotics Prosthetics industry development, empowering admittance to the quality life, and further developed medical care, likewise expanding customers' buying power. 

Moreover, the Market players put fundamental efforts and considerable sums into improving these prosthetics. Innovations are taking care of well, driving the growth of the  Market Outlook. 

But, factors, such as insufficient repayment approaches for acquiring advanced mechanics prosthetics, are assessed to hinder the market development, particularly in the created economies. Incorporating universal advances like Artificial Intelligence alongside 3-D imaging will uphold the Market development, emphatically affecting market development. 

COVID 19 Analyses

The COVID-19 outbreak has impacted the growth and development of the Robotics Prosthetics industry. The general market has been affected by COVID-19, and the development rate was also affected in 2019-2020. Our most recent examination, points of view, and bits of knowledge on the administration matter most to the organizations and associations about the market, which is driving through the COVID-19 emergency to overseeing hazard and digitizing tasks to convey confided in data and encounters to the leaders. The Market viewed a decline in the growth of the market in the beginning. But now with the rise in the use of Robotics Prosthetics in different places like medical care, airport, and other places is expected to enhance the growth of the market in the estimated future period. 

Market Dynamics

Major Drivers of the Market

The worldwide increase in many removal cases inferable from different danger factors like mishaps, serious wounds, carcinogenic tumors in the bone or muscles of appendages, and appendage disease is key driving variables for the growth and development of the Robotic Prosthetics Market all over the world. Some different causes like weight, diabetes, vascular illness, stroke, and joint pain additionally add to the expanding number of removal cases, development of clinical gadget industry have sped up the Market, upheld by imaginative item improvement by central members on the lookout, and coordination of IT into medical services prompting an expansion in new advancements in this field. The major drivers of the Market are enhancing the market growth in the estimated time frame. 

  • Significant Opportunities For The Market

An addition in leg removals owed to cardiovascular breakdown, fight fatalities, tumefaction, and genetic variations are the major opportunities in the Market. These opportunities are expected to support the business for Robotics Prosthetics during the expected time of 2020 to 2027.

  • Market Restraints

The expenses for all the surgery required for working Robotics Prosthetics are exceptionally high, restraining the growth of the Market. These restraining factors prevent the development of the Robotics Prosthetics industry and make it difficult for the market to grow in the estimated time frame.

  • Cumulative Growth Analysis

Robotics Prosthetics additionally gives you point by point market investigation for each country development in medical services consumption for capital hardware, introduced base of various sort of items for robotic prosthetics market, the effect of innovation utilizing lifeline bends, and changes in medical care administrative situations and their effect on the market of robotic prosthetics. The effective use and high demand of Robotics Prosthetics in the market are developing the growth of the Market for the forecasted period. 

Figure:  Robotic prosthetics Market, By Region Market Share, (%) Robotics Prosthetics Market
Sources: Annual reports, Press release, White paper, Company presentation

Segment Overview

  • By technology

Based on the technology utilized, the Robotic Prosthetics Market is sectioned into MPC Prosthetics and Myoelectrical Prosthetics. MPC innovation ruled the market in 2020 and is anticipated to develop at a rewarding rate over the estimated time frame. At the same time, Myoelectrical prosthetics is expected to be the quickest developing section during the estimated time frame. The prosthetics work on electric force without putting any additional pressure or muscle strain on the wearer. This benefit of Myoelectrical innovation over MPC is expected to drive portion development over the estimated time frame. 

  • By Extremity

Based on an extremity, the Robotic Prosthetics Market is sectioned into the furthest point and lower limit. The lower limit overwhelmed the market in 2020 and is likewise expected to develop at the quickest rate over the figure time frame. Expanding removals of the lower appendage attributable to the high occurrence of diabetic foot and vascular sicknesses are expected to drive section development. Besides, the dispatch of imaginative items by significant players is additionally expected to drive the development of the Robotics Prosthetics Market over the figure time frame. 

  • By Region

Based on the regional analysis, North America overwhelmed the Robotic Prosthetics Market in 2020, with an income portion of 43.5%. The main considerations driving the development are expanding medical care use, upgrades in automated space and great government drive concerning supporting mechanical innovation in the U.S. are the main considerations driving the development of the Market. The Asia Pacific is expected to be the quickest developing district, inferable from the developing interests in the automated field and rising medical services use.

Regional Analysis

The Americas, which contain North America and South America, are partitioned into different nation-level business sectors. Among these, the U.S drives the development for the Americas local Robotic Prosthetics Market. The locale's high pervasiveness of muscular illnesses has brought about the popularity of robotic prosthetics. High medical care speculations and the presence of a created medical care area with partiality toward the reception of trendsetting innovation are some different variables driving business sector development. Remarkably, Mexican Americas have a great danger for osteoporosis and, as such, are defenseless against bone issues that might bring about a requirement for Robotics Prosthetics.

Competitive Landscape

The major market key players of the Robotic Prosthetics are mentioned below:-

  • HDT Global Inc (U.S.)

  • ZOLL Medical Corporation (U.S.)

  • Smith & Nephew (U.K)

  • Hansen Medical, Inc. (U.S.)

  • Transenterix, Inc. (U.S.)

  • Touch Bionics Inc. (U.S.)

  • Aethon (U.S.)

  • Re Walk Robotics (Israel)

  • Syn Touch, LLC (U.S.)

  • Shadow Robot Company (U.K)

  • Stryker Corporation (U.S.)

  • Medrobotics Corporation (U.S.)

  • KUKA Roboter GmbH (Germany)

  • Intuitive Surgical, Inc. (U.S.)

  • Mazor Robotics Ltd. (Israel)

Recent Developments

  • Two adolescents from India – Hamayal Choudhry and Samin Khan, distributed their examination for a minimal expense Robotics Prosthetics they have made utilizing the 3D innovation called the smart arm, which has acquired global awards.

Report Overview

The Robotic Prosthetics Market or overviews are as follows:

  • Global Market Share Overview

  • COVID 19 impact on Market

  • Global Market dynamics

  • Market Value chain analysis 

  • Market Overview

  • Market Forecast

  • Market Competitive Landscape

  • Market Trends Developments

This report highlights the growth aspects of the Robotic Prosthetics Market Growth Analysis. Along with that, this report also intends to put up the competitive landscape and recent developments on the table to explain market analysis of Robotic Prosthetics.

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1,269.6 million
  CAGR   9.30%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By-Products, Technology, Application And End Users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors    HDT Global Inc (U.S.), Touch Bionics Inc. (U.S.), SynTouch, LLC (U.S.), Shadow Robot Company (U.K), Stryker Corporation (U.S.), Smith & Nephew (U.K), Aethon (U.S.), ReWalk Robotics (Israel), Medrobotics Corporation (U.S.), KUKA Roboter GmbH (Germany), Intuitive Surgical, Inc. (U.S.), Mazor Robotics Ltd. (Israel), Hansen Medical, Inc. (U.S.), Transenterix, Inc. (U.S.), ZOLL Medical Corporation (U.S.)
  Key Market Opportunities

  • Rising incidence of fractures
  • Increasing awareness among the people towards the use of innovative technologies
  • High health care spending has fueled the market growth.
  •   Key Market Drivers

  • Increasing demand for the advanced technology
  • Growing geriatric population
  • increasing prevalence of different diseases drive the growth of this market

  • Frequently Asked Questions (FAQ) :

    The Global Robotic Prosthetics Market can expand at 9.30% CAGR from 2022-2030.

    High prevalence of osteoarthritis is the major driver of the Global Robotic Prosthetics Market.

    Lack of reimbursement policies and offerings of expensive treatment can impede the Global Robotic Prosthetics Market growth.

    The Americas can dominate in the Global Robotic Prosthetics Market due to high prevalence of orthopedic diseases.

    Stryker Corporation, Touch Bionics Inc., SynTouch, LLC, Medrobotics Corporation, Hansen Medical, Inc., Intuitive Surgical, Inc., Aethon, Smith & Nephew, ReWalk Robotics, Transenterix, Inc., Mazor Robotics Ltd., Shadow Robot Company, ZOLL Medical Corporation, KUKA Roboter GmbH, and HDT Global Inc are prominent players of the global robotics prosthetics market.

    Key Questions Answered

    • Global Market Outlook
    • In-depth analysis of global and regional trends
    • Analyze and identify the major players in the market, their market share, key developments, etc.
    • To understand the capability of the major players based on products offered, financials, and strategies.
    • Identify disrupting products, companies, and trends.
    • To identify opportunities in the market.
    • Analyze the key challenges in the market.
    • Analyze the regional penetration of players, products, and services in the market.
    • Comparison of major players’ financial performance.
    • Evaluate strategies adopted by major players.
    • Recommendations
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