Global Robotic Prosthetic Market by Extremity (Upper, Lower), by Technology (MPC, Myoelectric) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global robotic prosthetic market was worth USD 1.1 billion. This market is expected to grow 9.2% in the forecast period. This market is driven by increasing amputation cases worldwide, advances in robotic space, government initiatives such as the Centers for Disease Control (CDC), and nonprofit organizations such as Amputee Coalition to facilitate funding and purchase of prosthetic devices for amputees. The market for robotic prosthetics is also expected to grow due to an increase in limb loss caused by cardiovascular disease, war casualties and tumors.

The increasing prevalence of cardiovascular disease, obesity, stroke and diabetes has led to an increase of cases of amputations. The American Academy of Physical Medicine and Rehabilitation estimates that between 30,000 and 40,000 amputations were performed in America in 2019. In England, 27,465 amputations occurred between 2015 and 2018. The increase in amputations was 14 percent compared to 2012-2015. These figures indicate an increase in demand, which will have a positive effect on the market for robotic prosthetics.

There is a growing demand for these devices due to the increasing use of connectivity technologies like Bluetooth, myoelectric technology, and microprocessor controller. The use of thermoplastics, carbon fiber materials for robotic amputation devices has been made possible by advances in material science. This is improving their efficiency and decreasing the cost. Other factors that will drive the market for robotic prosthetics in the future include increased awareness and adoption of advanced products in developed nations.

This field is being supported by government agencies like the CDC or Defense Advanced Research Projects Agency (DARPA), which are supporting and conducting research. The increasing government involvement with robotic prosthetics will also be a factor that will increase demand over the forecast period. The CDC funds the 'Amputee Coalition National Limb Loss Resource Center,' which provides financial assistance to amputees. DARPA has provided funding for researchers to develop robotic limb prosthetics. DARPA also initiated the "Revolutionizing Prosthetics Program" to invent robotic prosthetics.

Robotic technology is a key component of amputation. The U.S. government is investing more in robotic technology research. The DEKA arm, a robotic upper limb prosthetic, was developed by DEKA Research and Development Corp. and funded with USD 40 million by DARPA's Revolutionizing Prosthetic Program. The DEKA arm, an advanced prosthetic arm that can perform multiple power-driven movements, is a great example of this type of arm. The FDA approved it in 2016. This allowed for its manufacture and marketing within the Veterans Affairs (VAH) health system.

Technology Insights

The market for robotic prosthetics can be divided into two segments based on technology: Microprocessor Controlled prosthetics (MPC) and myoelectric prosthetics. MPC prosthetics had the highest revenue share in 2019, due to their easy availability and superior quality to myoelectric devices. This segment also has the highest revenue share due to increased research into developing new devices using MPC technology.

Myoelectric prosthetics technology is expected to grow at a fastest rate of 10.3% during the forecast period. This segment growth can be attributed to the many advantages of myoelectric prosthetics like mobility and the use electro signals to move the limbs. The market will be boosted by the increasing number of R&D efforts undertaken by key players as well as new product launches that use this technology over the forecast period.

Extremity Insights

The global robotic prosthetic market can be divided into two segments based on extremity: upper body extremity (or lower body extremity). The market share for the lower body extremity segment was the largest in 2019. The segment is expected to grow at a 9.5% annual rate over the forecast period. The market is driven by the availability of robotic prosthetics for lower extremities, the launch of new products and the increasing number of cases of lower body amputations around the world.

The demand for lower body prosthetics is increasing rapidly among the elderly and disabled. This is expected to be one of the key factors driving the market. The market is also being driven by technological advances in lower and upper limb robotic prosthetics, as well as the increasing use of advanced polymers to develop novel prosthetics. Market growth is expected to be driven by the large demand for lower-body robotic prosthetics over the forecast period.

Regional Insights

With a 43.5% revenue share, North America was the dominant market for robotic prosthetics in 2019. The key drivers behind the highest revenue share are high penetration of technologically advanced products and high healthcare expenditure. Also, favorable government initiatives to support robot technology are important. The market will be further influenced by various government initiatives to prevent amputations.

Asia Pacific will grow at the fastest pace during the forecast period. The market is driven by a growing geriatric population that is more susceptible to diabetes and ulcers, ongoing investments in robotics and improved healthcare infrastructure in emerging countries like India and China. The market is expected to grow due to increasing medical tourists.

Robotic Prosthetic Market Share insights

HDT Global, Ottobock, EndoliteSynTouch, Inc., Touch Bionics, Inc., Shadow Robot Company, and Ossur Americas are some of the major players in this market. Due to the presence many small and large-scale manufacturers, this market is extremely fragmented. Due to this highly fragmented market, players constantly try to improve their position through different strategies such as mergers and acquisitions, product innovation, and modification of existing products.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2016 to 2027. Grand View Research has divided the global robotic prosthetic market on the basis technology, extremity and region.

• Technology Outlook (Revenue USD Million, 2016-2027)

  • MPC Prosthetics

  • Myoelectric Prosthetics

• Extremity Outlook (Revenue USD Million, 2016-2027)

  • Lower Body Prosthetics

  • Upper Body Prosthetics

• Regional Outlook (Revenue USD Million, 2016-2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • Italy

    • France

    • Spain

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Singapore

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

These are the most frequently asked questions about this report

b. Global market size for robotic prosthetics was USD 1.04 billion in 2019, and is forecast to rise to USD 1.14 billion by 2020.

b. Global robotic prosthetics markets are expected to expand at a compound annual rate of 9.2% between 2019 and 2027, reaching USD 2.07 billion in 2027.

b. MPC Prosthetics was the market leader in robotic prosthetics with a share at 58.5% for 2019. This can be attributed to the ease of access to this technology compared to other types.

b. The market for robotic prosthetics includes HDT Global, Ottobock, EndoliteSynTouch, Inc., Touch Bionics, Inc., Shadow Robot Company, and Ossur Americas.

b. The market growth is being driven by a rise in the number and severity of amputations worldwide, advances in robotic space and government initiatives to finance and purchase prosthetic devices.

Up Market Research published a new report titled “Robotic Prosthetic Market research report which is segmented by Extremity (Upper, Lower), by Technology (MPC, Myoelectric), By Players/Companies initiatives taken by government organizations, war casualties, advancements in robotic space, increasing the number of amputation cases at a global level, an increase in limb amputations due to cardiovascular disease, tumors, to facilitate funding and purchases of prosthetic devices for amputee population Moreover, congenital anomalies is further anticipated to drive the market for robotic prosthetics, such as Centers for Disease Control (CDC) and nonprofit organizations like Amputee Coalition”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Robotic Prosthetic Market Report Segments:

The market is segmented by Extremity (Upper, Lower), by Technology (MPC, Myoelectric).

Robotic Prosthetic Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Robotic Prosthetic Market

Overview of the regional outlook of the Robotic Prosthetic Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Robotic Prosthetic Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Robotic Prosthetic Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Upper

                2. Lower

                1. MPC

                2. Myoelectric

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Robotic Prosthetic Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Robotic Prosthetic Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.