Robotic Prosthetics Market
Robotic Prosthetics Market Size, Share & Trends Analysis Report by Product Type (Prosthetic Arm, Prosthetic Knee, Prosthetic Feet/Ankle, Prosthetic Hand, and Others), by Technology (MPC Prosthetics, and Myoelectric Prosthetics), and by End User (Hospitals, Specialty Clinics, and Others) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
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.
Segmental Outlook:
The global robotic prosthetics market is segmented based on its product type, technology, and end user. Based on product type, the market is sub-segmented into prosthetic arm, prosthetic knee, prosthetic feet/ankle, prosthetic hand, and others. Based on technology, the market is categorized into MPC prosthetics and myoelectric prosthetics. Further, based on the end user, the market is sub-segmented into hospitals, specialty clinics, and others.
The Prosthetic Arm Sub-Segment is Anticipated to Register Significant Growth
Among the product type segment, the prosthetic arm sub-segment is anticipated to register significant growth during the forecast period. The growth of the prosthetic arm segment is attributed to factors such as advancements in robotic technology, increasing demand for upper limb prosthetics, and improving functionality of prosthetic arms. For instance, in September 2021, Robo Bionics a Mumbai-based start-up launched affordable prosthetic arm to assist amputees with daily chores. The prosthetic arm offers grip control and a sense of touch to below elbow and wrist amputees. With this launch, the Robo Bionics aims to improve the lives of amputees by providing functional and accessible prosthetic solutions.
Regional Outlook:
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.
Global Robotic Prosthetics Market Growth by Region 2023-2030
North America is Anticipated to Hold a Significant Share in the Robotic Prosthetics Market
Among all the regions, North America is anticipated to hold a significant share in the robotic prosthetics market during the forecast period. The regional market growth is primarily driven by factors such as well-established healthcare infrastructure, increasing investment in R&D activities, and high adoption of advanced technologies. Furthermore, the strong presence of various manufacturers that supplies in the region is another factor bolstering the regional market growth. These players are focusing on adopting initiatives with an aim to strengthen their market presence. For instance, in September 2021, Unlimited Tomorrow developed and launched TrueLimb, affordable multi-articulating prosthetic limb equipped with a realistic appearance and looks.
Market Players Outlook:
The major companies serving the global robotic prosthetics market include MYOMO, Inc, Össur, and Hocoma AG, among others. The market players are considerably contributing to the market growth by adopting various strategies including mergers and acquisitions, partnerships, collaborations, and new product launches to stay competitive in the market. For instance, in January 2022, Myomo released MyoPro 2+, an enhanced version of its MyoPro powered brace. MyoPro 2+ is a wearable medical robotics device designed to improve arm and hand function for individuals with neurological disorders. The new version offers lighter weight, easier donning, greater comfort, and improved grasp functionality compared to its predecessor, MyoPro 2. Myomo continues to innovate with digital technologies to provide advancements in the field of wearable medical robotics. The company is known for its custom fabrication process, and with MyoPro 2+, the fabrication will now be done in-house at their Boston headquarters to streamline the process.
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.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Hocoma AG
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. MYOMO, Inc
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Össur
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.4.5. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Robotic Prosthetics Market by Product Type
4.1.1. Prosthetic Arm
4.1.2. Prosthetic Knee
4.1.3. Prosthetic Feet/Ankle
4.1.4. Prosthetic Hand
4.1.5. Others (Bionic Legs,Specialized Prosthetics)
4.2. Global Robotic Prosthetics Market by Technology
4.2.1. MPC Prosthetics
4.2.2. Myoelectric Prosthetics
4.3. Global Robotic Prosthetics Market by End-User
4.3.1. Hospitals
4.3.2. Specialty Clinics
4.3.3. Others (Rehabilitation Centers)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Blatchford Group
6.2. CYBERDYNE Inc.
6.3. Endolite India Ltd.
6.4. Fillauer
6.5. HDT Global
6.6. India Medtronic PVT. Ltd.
6.7. Kinova Inc.
6.8. Mobius Bionics LLC
6.9. Open Bionics
6.10. Orthocare Innovations, LLC
6.11. Ottobock SE & Co. KGaA
6.12. Steeper Group
6.13. SynTouch Inc.
6.14. Vincent Medical Holdings Ltd
6.15. WillowWood Global LLC
1. GLOBAL ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
2. GLOBAL ROBOTIC PROSTHETIC ARM MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL ROBOTIC PROSTHETIC KNEE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL ROBOTIC PROSTHETIC FEET/ANKLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL ROBOTIC PROSTHETIC HAND MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL OTHERS ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
8. GLOBAL MPC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL MYOELECTRIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
11. GLOBAL ROBOTIC PROSTHETICS FOR HOSPITALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL ROBOTIC PROSTHETICS FOR SPECIALTY CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL ROBOTIC PROSTHETICS FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. NORTH AMERICAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
16. NORTH AMERICAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
17. NORTH AMERICAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
18. NORTH AMERICAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
19. EUROPEAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
20. EUROPEAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
21. EUROPEAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
22. EUROPEAN ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
23. ASIA-PACIFIC ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
24. ASIA-PACIFIC ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
25. ASIA-PACIFIC ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
26. ASIA-PACIFIC ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
27. REST OF THE WORLD ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
28. REST OF THE WORLD ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
29. REST OF THE WORLD ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
30. REST OF THE WORLD ROBOTIC PROSTHETICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
1. GLOBAL ROBOTIC PROSTHETICS MARKET SHARE BY PRODUCT TYPE, 2022 VS 2030 (%)
2. GLOBAL ROBOTIC ARM MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL ROBOTIC PROSTHETIC KNEE MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL ROBOTIC PROSTHETIC FEET/ANKLE BY MARKET SHARE REGION, 2022 VS 2030 (%)
5. GLOBAL ROBOTIC PROSTHETIC HAND BY MARKET SHARE REGION, 2022 VS 2030 (%)
6. GLOBAL OTHERS ROBOTIC PROSTHETIC BY MARKET SHARE REGION, 2022 VS 2030 (%)
7. GLOBAL ROBOTIC PROSTHETICS MARKET SHARE BY TECHNOLOGY, 2022 VS 2030 (%)
8. GLOBAL ROBOTIC MPC PROSTHETICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL ROBOTIC MYOELECTRIC PROSTHETICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL ROBOTIC PROSTHETICS MARKET SHARE BY END-USER, 2022 VS 2030 (%)
11. GLOBAL ROBOTIC PROSTHETICS FOR HOSPITALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL ROBOTIC PROSTHETICS FOR SPECIALTY CLINICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL ROBOTIC PROSTHETICS FOR OTHERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL ROBOTIC PROSTHETICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. US ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
16. CANADA ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
17. UK ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
18. FRANCE ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
19. GERMANY ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
20. ITALY ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
21. SPAIN ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
22. REST OF EUROPE ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
23. INDIA ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
24. CHINA ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
25. JAPAN ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
26. SOUTH KOREA ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
27. REST OF ASIA-PACIFIC ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
28. REST OF THE WORLD ROBOTIC PROSTHETICS MARKET SIZE, 2022-2030 ($ MILLION)
