Robotic Prosthetics Market to Observe Strong Development by 2025

The global market for robotic prosthetics has been expanding on account of the developments in the field of robotics and medical sciences. The combination of robotics and nerve sciences has facilitated the development of prosthetics or robotic limbs that help in partially restoring the mobility of handicapped persons. Hence, the demand within the global market for robotic prosthetics is expected to surge ahead as better and more advanced prosthetics glut the market.

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Furthermore, the field of medical sciences has witnessed commendable developments on several fronts such as research, training of medical practitioners, and development of customized medical equipment. This is also expected to bode well for the global market for robotic prosthetics, while laying the foundation of growth for market players. Robotics limbs, mechanical limbs, or prosthetics are equipped microprocessors in order to manage the nerve impulses. This is an important proposition for the consumers who are completely reliant on crutches or other walking aids. A report produced by Transparency Market Research (TMR) puts forth several key factors responsible for the growth of the global robotic prosthetics market. The title of the report is “Robotic Prosthetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”.

The cases of amputation have been on a rise in recent times, and a number of factors including increasing number of road accidents are responsible for this. This has been the primary reason behind the starry growth rate of the global market for robotic prosthetics. Furthermore, cancer, diabetes, cardiovascular diseases, trauma, paralysis, and frost bite are amongst other diseases and disorders whose rising incidence has led to an increased demand for robotic prosthetics. Several international bodies have initiated fund raisers to help people with disabilities, and this has also propelled demand within the global robotic prosthetics market. Besides this, governments across several regions are making efforts to improve the quality of life for handicapped persons. As these people receive grants from the government for their treatment and wellbeing, the demand for robotic prosthetic is projected to shoot up. On the flip side, the high costs associated with buying and getting prosthetic implants done are anticipated to restrain market demand.

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The growth of a market that is aligned with the healthcare industry relies on the development of the healthcare infrastructure in a given region. Hence, the incredible healthcare facilities and huge amounts of funds extended towards the development of healthcare infrastructure in the US are projected to enhance market growth in North America. Besides this, a major part of the population in North America is financially stable to be able to afford expensive medical treatments.

Some of the key vendors in the global robotic prosthetics market are Human Technology Inc., Shadow Robot Company, HDT Global, and SynTouch, Inc.

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