USD 1.11 billion
Robotic Prosthetics Market Size, Share, Growth Analysis, By End-user(Hospitals, clinics, and home care settings), By Type(Syringes, jet injectors, and patch injectors), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2562 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
63
|Figures:
75
Robotic Prosthetics Market Insights
Global Robotic Prosthetics Market size was valued at USD 1.11 billion in 2022 and is poised to grow from USD 1.21 billion in 2023 to USD 2.4 billion by 2031, at a CAGR of 8.93% during the forecast period (2024-2031).
The global robotic prosthetics market has witnessed significant growth due to advancements in technology, materials, and design. These prosthetics offer enhanced mobility and functionality to individuals with limb loss, driving demand.
Factors such as increasing amputations due to accidents and medical conditions, coupled with rising awareness and funding for prosthetic research, continue to propel market expansion.
The global healthcare industry has been working towards making advanced prosthetic technologies more accessible to a wider range of individuals.
Efforts have been made to reduce the cost of production and increase the availability of affordable robotic prosthetics. Additionally, organizations and initiatives have emerged to provide prosthetic devices to underserved populations in various parts of the world, promoting inclusivity and improving the quality of life for amputees.
Collaborations between prosthetic manufacturers and tech companies have resulted in more sophisticated and user-friendly devices.
However, challenges remain in terms of cost, accessibility, and regulatory hurdles. As research continues, the market's trajectory points toward continued innovation and improved quality of life for amputees.
US Robotic Prosthetics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
hospitals
Fastest Growth
hospitals
Growth Rate
8.93% CAGR
Global Robotic prosthetics market by region
Country Share for North America (%)
To get more reports on the above market click here to Buy The Report
Robotic Prosthetics Market Segmental Analysis
The global robotic prosthetics market can be segmented based on control technology, end-user, and region. In terms of Control technology segments consist of myoelectric, microprocessor-controlled, and body-powered prosthetics. End-users are divided into hospitals, rehabilitation centers, and prosthetic clinics. Geographically, the market is categorized into North America, Europe, Asia Pacific, and the rest of the world.
Robotic Prosthetics Market Analysis By End-user
The largest end-user segment for robotic prosthetics was likely hospitals and clinics. This is because hospitals serve a broad range of patients who may require prosthetic devices due to various reasons such as accidents, medical conditions, or amputations. Hospitals have the infrastructure and expertise to diagnose, treat, and rehabilitate patients who need prosthetics, making them a key player in the market.
The fastest-growing segment might have been individual users. This growth could be attributed to several factors, including advancements in technology that have led to more accessible and customizable prosthetic solutions. Additionally, increased awareness, improved funding, and support for individuals with limb loss have likely contributed to the growing demand for robotic prosthetics among individual users.
Robotic Prosthetics Market Analysis By Control Technology
The myoelectric control technology was the largest segment in the global robotic prosthetics market due to its maturity, proven effectiveness, and higher level of integration with existing medical practices. Myoelectric prosthetics have seen significant improvements in terms of functionality, comfort, and appearance.
The brain-computer interface control segment was one of the fastest-growing segments. While it held immense promise, it was also facing challenges related to accuracy, signal processing, and training requirements. However, research and development efforts were underway to enhance the feasibility and reliability of BCI-controlled robotic prosthetics.
Global Robotic prosthetics market by end-user
To get detailed analysis on other segments, Request For Free Sample Report
Robotic Prosthetics Market Regional Insights
North America and Europe were among the largest markets for robotic prosthetics, primarily due to their strong healthcare systems and technological innovation. The United States was a major player in the market, with numerous companies and research institutions dedicated to advancing robotic prosthetic technologies.
Asia, especially countries like Japan and South Korea, was considered one of the fastest-growing regions in the robotic prosthetics market. Their focus on innovation, robotics, and aging populations drove the demand for advanced prosthetic solutions.
Global Robotic prosthetics market by Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Robotic Prosthetics Market Dynamics
Robotic Prosthetics Market Drivers
Technological Advancements
- Advances in robotics, materials science, and sensor technologies have led to the development of more sophisticated and functional robotic prosthetics. These advancements have enabled prosthetic limbs to mimic natural movements more closely, improving the overall quality of life for amputees.
Growing Aging Population
- The global aging population has led to an increase in chronic health conditions and diseases that may require limb amputation. This demographic trend has expanded the potential user base for robotic prosthetics, driving the market's growth.
Robotic Prosthetics Market Restraints
High Cost
- Robotic prosthetics are often more expensive than traditional prosthetic devices. The intricate technology, research and development costs, and specialized manufacturing processes contribute to the higher cost. This can be a significant barrier for individuals with limited financial resources, as well as for healthcare systems.
Limited Access and Awareness
- Access to advanced robotic prosthetics can be limited in certain regions due to factors such as healthcare infrastructure, affordability, and awareness. In some parts of the world, amputees may not have access to the latest prosthetic technologies, which can impede market growth.
Request Free Customization of this report to help us to meet your business objectives.
Robotic Prosthetics Market Competitive Landscape
The global robotic prosthetics market features intense competition among key players, driving innovation and technological advancements. Established companies like Ossur, Touch Bionics, and Ottobock dominate with their comprehensive product portfolios and extensive R&D. Startups such as BrainCo. and Open Bionics are also gaining traction with their unique offerings and agile development. Collaborations between academia, research institutions, and industry players further accelerate growth. Market dynamics are influenced by factors like affordability, user comfort, and regulatory compliance. As the demand for advanced prosthetic solutions rises, the market's competitive landscape is expected to continue evolving, fostering breakthroughs in robotic prosthetics technology.
Robotic Prosthetics Market Top Player’s Company Profiles
- Touch Bionics (now owned by Össur) - United Kingdom
- Blatchford Group - United Kingdom
- WillowWood - United States
- College Park Industries - United States
- Endolite - United Kingdom
- Freedom Innovations (acquired by Ottobock) - United States
- RSL Steeper - United Kingdom
- TRS Inc. - United States
- Vincent Medical Holdings Limited - China
- Orthocare Innovations - United States
- HDT Global - United States
- BionX Medical Technologies (acquired by Ottobock) - United States
- Exiii Inc. - Japan
- Mobius Bionics - United States
- Open Bionics - United Kingdom
- Myoelectric Controls Inc. - United States
- Stryker Corporation - United States (Stryker is involved in various medical technologies, including robotic prosthetics)
Robotic Prosthetics Market Recent Developments
-
In January 2024, Penn State researchers received a $4 million grant from the U.S. National Science Foundation to make robotic prostheses more useful for people living with amputations.
-
In October 2023, UBC engineers developed breakthrough ‘robot skin’ in collaboration with Honda researchers. mart, stretchable and highly sensitive, a new soft sensor developed by UBC and Honda researchers opens the door to a wide range of applications in robotics and prosthetics.
-
In October 2023, Singapore’s Quest Ventures confirmed an investment of undisclosed size in Vietnam-based robotic prosthetics start-up Vulcan Augmetics. Vulcan’s technology spans wearables, biometric sensing, and customizable robotics for upper limb amputations.
Robotic Prosthetics Key Market Trends
- Advancements in Prosthetic Technology: The field of robotic prosthetics has been witnessing continuous advancements in technology. Prosthetic limbs equipped with robotic components and sensors have become more sophisticated, enabling greater mobility and functionality for users. These advancements include more intuitive control mechanisms, enhanced sensory feedback systems, and even the integration of artificial intelligence to adapt to users' movements and preferences.
- Customization and Personalization: Another notable trend in the robotic prosthetics market has been the move towards greater customization and personalization. Prosthetics are being designed to fit everyone’s specific needs and anatomical structure. This includes both the physical design of the prosthetic limb and the development of personalized control algorithms. 3D printing and scanning technologies have played a significant role in enabling this trend, allowing for faster and more accurate customization.
Robotic Prosthetics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global robotic prosthetics market is poised for remarkable growth, driven by advancing technology, increasing amputation cases, and growing demand for enhanced mobility and functionality among amputees. With innovations like neural interfaces and AI-driven control systems, prosthetics are becoming more intuitive and responsive. Additionally, collaborations between medical research, engineering, and material science are yielding lighter, more durable, and comfortable solutions. This convergence of factors is likely to propel the market forward, improving the quality of life for amputees and fostering a competitive landscape focused on cutting-edge design, affordability, and personalized solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.11 billion |
| Market size value in 2031 | USD 2.4 billion |
| Growth Rate | 8.93% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Robotic Prosthetics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Robotic Prosthetics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Robotic Prosthetics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Robotic Prosthetics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Robotic Prosthetics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Robotic Prosthetics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
