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Robotic Prosthetics Market 2024-2033: International Expansion, Growth Rate, Latest Trends And Major Players | Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc.
Robotic Prosthetics Market
The Business Research Company's Template Global Market Report 2024 identifies growing prevalence of orthopedic diseases as the major driver for the Robotic Prosthetics Market's growth in the forecast period. 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.
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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Major competitors 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.
A key trend in the Robotic Prosthetics Market includes introducing innovative implant systems. 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.
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The Robotic Prosthetics Market is segmented -
By Product Type: Prosthetic Arm, Prosthetic Knee, Prosthetic Feet Or Ankle, Prosthetic Hand, Other Products
By Technology: Microprocessor-Controlled Prosthetics, Myoelectric Prosthetics
By Extremity: Lower Body Prosthetics, Upper Body Prosthetics
By End User: Hospitals, Specialty Clinics, Other End Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Robotic Prosthetics Market.
The Business Research Company's "Global Robotic Prosthetics Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Robotic Prosthetics Market Include:
1. Executive Summary
2. Robotic Prosthetics Market Characteristics
3. Robotic Prosthetics Market Trends And Strategies
4. Robotic Prosthetics Market - Macro Economic Scenario
5. Global Robotic Prosthetics Market Size and Growth
……
32. Global Robotic Prosthetics Market Competitive Benchmarking
33. Global Robotic Prosthetics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Robotic Prosthetics Market
35. Robotic Prosthetics Market Future Outlook and Potential Analysis
36. Appendix
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