Worldwide Current Trend and Future Growth Robotic Prosthetics Market Analysis 2025 | ReWalk Robotics (Israel), Medrobotics Corporation (U.S.), KUKA Roboter GmbH (Germany), Mazor Robotics Ltd. (Israel) and Hansen Medical, Inc. (U.S.) by 2025
The global robotic prosthetics market is expected to reach USD 1.76 billion by 2025, according to a new report by Grand View Research, Inc. Increase in amputee population due to various factors, such as accidents, frostbite, diabetes, and vascular disease, is one of the crucial factors expected to drive the market in the coming years. According to the data published by Amputee Coalition, there are approximately 2.1 million amputees living in the U.S. According to the Statistics Brain Research Institute, 82% of the amputations are performed due to vascular disease, 22% of cases are due to trauma and 4% cases are due to congenital disabilities. Rise in prevalence of diabetes and vascular diseases, is anticipated to increase the demand for prosthetics over the forecast period.
Increasing number of technologically advanced products, such as SYMBIONIC LEG 3, RHEO KNEE, PROPRIO FOOT, and POWER KNEE, is anticipated to raise product awareness in developed regions, such as North America and Europe, thus increasing the demand for such devices. In 2015, Ossur developed a mind-controlled prosthetic leg; which is undergoing clinical trials for its assessment. Growing R&D activities and increasing investment by private and public players to technologically upgrade prosthetic products are among the few factors expected to propel the market.
Various initiatives undertaken by the government and nonprofit organizations, such as CDC, Douglas Bader Foundation, Limbless Association, Amputee Coalition, to provide assistance to amputees are increasing the interest of private players to invest in this market. April is considered Limb Loss Awareness Month. It helps create awareness about the limb loss community and helps people affected by limb loss achieve their full potential.
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Regional Analysis of the Global Robotics Prosthetics Market:
The robotics prosthetics market is dominated by the Americas owing to continually developing technology and increasing prevalence of orthopedic diseases. According to the study published by Centers for Disease Control and Prevention, in 2015, the prevalence of osteoporosis and low bone mass at the femur neck in the United States are more in adults aged 50 years.
Europe holds the second position in the global robotics prosthetics market owing to the government support for research & development and availability of funds for research. This is expected to continue driving the European market over the forecasted period. For instance, countries like Germany and France are increasing investment in the healthcare domain.
The Asia Pacific is a huge market. Whereas a country like India and China are considering fastest growing region due to increasing aging population, growing awareness about new technology, and availability of funds. Additionally, they are open to adopting new technology, and best treatment option from developed countries in order to improve the quality of life for their citizen. Furthermore, increasing demand for quality devices in the healthcare is projected to lead to the use of advanced equipment, which, in turn, is likely to increase the market growth of the robotics prosthetics in the region. Increasing demand for quality product attract the focus of market players in this region, thus, they are introducing the advanced technology to maximize the profit in this region. Also, the lower cost of treatment in India attracts patient population from other countries.
On the other hand, in the Middle East and Africa holds the lowest market share owing to the incapability of investment and poor healthcare infrastructure.
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Key Players in the Global Robotics Prosthetics Market:
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.)
Robotics Prosthetics Market Segments:
The global robotics prosthetics market is segmented on the basis of product, by technology, application, and end user.
On the basis of the product, it is segmented into prosthetic arms, prosthetic feet/ankles, prosthetic legs/knees, prosthetic hands, and others.
On the basis of the technology, it is segmented into prosthetic foot materials, Bluetooth, microprocessor knees, myoelectric technology, and others.
On the basis of the application, it is segmented into the lower body extremity and upper body extremity.
On the basis of the end user, it is segmented into hospitals, clinics, and others.
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Table of Contents
Global Robotic Prosthetics Market Research Report 2018
1 Robotic Prosthetics Market Overview
1.1 Product Overview and Scope of Robotic Prosthetics
1.2 Robotic Prosthetics Segment by Type (Product Category)
1.2.1 Global Robotic Prosthetics Production and CAGR (%) Comparison by Type (Product Category)(2013-2025)
1.2.2 Global Robotic Prosthetics Production Market Share by Type (Product Category) in 2017
1.2.3 Microprocessor Controlled
1.2.4 Myoelectric Prosthetics
1.3 Global Robotic Prosthetics Segment by Application
1.3.1 Robotic Prosthetics Consumption (Sales) Comparison by Application (2013-2025)
1.4 Global Robotic Prosthetics Market by Region (2013-2025)
1.4.1 Global Robotic Prosthetics Market Size (Value) and CAGR (%) Comparison by Region (2013-2025)
1.4.2 North America Status and Prospect (2013-2025)
1.4.3 Europe Status and Prospect (2013-2025)
1.4.4 China Status and Prospect (2013-2025)
1.4.5 Japan Status and Prospect (2013-2025)
1.4.6 Southeast Asia Status and Prospect (2013-2025)
1.4.7 India Status and Prospect (2013-2025)
1.5 Global Market Size (Value) of Robotic Prosthetics (2013-2025)
1.5.1 Global Robotic Prosthetics Revenue Status and Outlook (2013-2025)
1.5.2 Global Robotic Prosthetics Capacity, Production Status and Outlook (2013-2025)
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