The robotic prosthetics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Robotic Prosthetics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The robotic prosthetics market size has grown strongly in recent years. It will grow from $1.57 billion in 2023 to $1.73 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to prevalence of chronic diseases, growing geriatric population, growing amputee population, government initiatives.
The robotic prosthetics market size is expected to see rapid growth in the next few years. It will grow to $2.54 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to increase in funding for medical robot research, rise in traumatic injuries, growing demand for sustainable and eco-friendly prosthetics, awareness about prosthetic solutions . Major trends in the forecast period include advances in material science and technology, wearable technology integration, advancements in prosthetic technology, sensory feedback systems, advancements in neuroprosthetics.
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Scope Of Robotic Prosthetics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Robotic Prosthetics Market Overview
Market Drivers –
The growing prevalence of orthopedic diseases is expected to propel the growth of the robotic prosthetics market going forward. Orthopedic diseases refer to conditions and disorders that affect the musculoskeletal system, which includes the muscles, bones, nerves and joints. Robotic prosthetics have a range of essential applications in orthopedics, focusing on treating and correcting musculoskeletal disorders and injuries by limb replacement, gait rehabilitation and enhanced precision in orthopedic surgical processes. For instance, in July 2022, according to the World Health Organization, a Switzerland -based agency of the United Nations responsible for international public health, approximately 1.71 billion people worldwide have musculoskeletal conditions, including low back pain, neck pain, fractures, other injuries, osteoarthritis, amputation and rheumatoid arthritis. Therefore, the growing prevalence of orthopedic diseases is driving the growth of the robotic prosthetics market.
Market Trends –
Major companies operating in the robotic prosthetics market are introducing innovative implant systems to strengthen their position in the market. An implant system is a medical device used to replace a missing joint or bone or to support a damaged bone. For instance, in April 2023, Integrum, a Sweden-based company that manufactures medical equipment, received approval for its OPRA Implant System in Australia. OPRA Implant System is a unique bone-anchored prosthesis that uses osseointegration to attach the prosthesis to the human body and is an innovative method that allows the direct connection of an artificial limb to the skeleton. Additionally, the patent claims of the product extend beyond transfemoral applications to include treatment in other types of long bone prosthetic applications, such as the upper arm or lower leg.
The robotic prosthetics market covered in this report is segmented –
1) By Product Type: Prosthetic Arm; Prosthetic Knee; Prosthetic Feet Or Ankle; Prosthetic Hand; Other Products
2) By Technology: Microprocessor-Controlled Prosthetics; Myoelectric Prosthetics
3) By Extremity: Lower Body Prosthetics; Upper Body Prosthetics
4) By End User: Hospitals; Specialty Clinics; Other End Users
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Regional Insights –
North America was the largest region in the robotic prosthetics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in robotic prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major players in the robotic prosthetics market are Ottobock SE and Co. KGaA, Össur hf., Blatchford Limited, HDT Global Inc., DEKA Research & Development Corp., Cyberdyne Inc., College Park Industries Inc., Neuralink Corp., Touch Bionics Ltd., Myomo Inc., Kinova Inc., Open Bionics Ltd., Sarcos Technology and Robotics Corporation, SynTouch LLC, Ekso Bionics Holdings Inc., Fillauer LLC, WillowWood Global LLC, Shadow Robot Company Limited, Infinite Biomedical Technologies LLC, Marsi Bionics S.L., Aether Biomedical Pvt Ltd., Coapt LLC, Esper Bionics Inc., Psyonic Inc., Vincent Systems GmbH.
Table of Contents
1. Executive Summary
2. Robotic Prosthetics Market Report Structure
3. Robotic Prosthetics Market Trends And Strategies
4. Robotic Prosthetics Market – Macro Economic Scenario
5. Robotic Prosthetics Market Size And Growth
…..
27. Robotic Prosthetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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