Robotic prosthetics market is anticipated to grow at a CAGR of 9.3% during the forecast period. The market growth is attributed to factors including the technological advancements, increasing prevalence of limb disabilities, and growing demand for personalized prosthetics. For instance, according to the Centers for Disease Control and Prevention (CDC), around 1 in 4 (27%) adults in the US have some type of disability. Out of which 12.1% of the US adults have a mobility disability with serious difficulty walking or climbing stairs. Owing to such factors, government organizations introduced various initiatives to facilitate funding and purchases of prosthetic devices, which will further contribute to the market growth. Collaborations and partnerships among organizations have also facilitated innovation and improved the quality of robotic prosthetics. For instance, in January 2022, the cross-campus collaborated at UC Davis Health has resulted in a novel surgical procedure and the use of smart prosthetics to provide better muscle control, improved sensory feedback, and reduced limb pain for amputee patients. This advancement has the potential to significantly improve the quality of life for individuals with upper limb amputations.
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The global robotic prosthetics market is further segmented based on geography including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, the European region is expected to witness a significant growth in the robotic prosthetics market. However, the Asia-Pacific region is projected to experience considerable growth during the forecast period.
By Product Type
- Prosthetic Arm
- Prosthetic Knee
- Prosthetic Feet/Ankle
- Prosthetic Hand
- Others (Bionic Legs, Specialized Prosthetics)
By Technology
- MPC Prosthetics
- Myoelectric Prosthetics
By End User
- Hospitals
- Specialty Clinics
- Others (Rehabilitation Centers)
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global robotic prosthetics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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