Robotic Prosthetic Market: Qualitative Analysis Of The Leading Players And Industry Scenario, 2028
Ngày đăng: 09-08-2023 |
Ngày cập nhật: 09-08-2023
The global Robotic Prosthetic Market exhibited a total valuation of USD 1,201.5 million in the year 2020, and experts project a consistent compound annual growth rate (CAGR) of 8.9% throughout the forecast period. This sustained trajectory in market revenue can be primarily attributed to the escalating prevalence of amputation cases on a global scale, continuous innovations in robotics technology, and government initiatives aimed at promoting the subsidization and procurement of prosthetic products. The integration of robotics technology has enabled prosthetic products to be employed across diverse applications, with prosthetic hands and legs being seamlessly implanted in place of damaged or lost limbs, thereby restoring their normal functionality.
Robotic prosthetics represent an innovative subset within the broader field of artificial devices designed for the replacement of lost body parts. This niche domain has evolved through the symbiotic interaction between robots and humans. Prosthetics are devised to reinstate the normal functioning of afflicted, injured, or absent limbs, and their creation involves both manual craftsmanship and Computer-Aided Design (CAD), a user-friendly interface that aids designers in evaluating and scrutinizing their creations.
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Market Dynamics:
Drivers: The impetus behind the exceptional growth projected for the robotic prosthetic sector stems from the escalating prevalence of vascular diseases and congenital disorders, coupled with the rapid advancements in robotics technology. According to estimates from the International Osteoporosis Foundation, one in every three women and one in every five men aged 50 or above are prone to experiencing fractures at least once in their lifetime. The surging incidence of road accidents, rising occurrences of diverse cancer types, and the presence of individuals born with disabilities contribute to an expanding population of amputees. Concurrently, heightened research endeavors and cutting-edge robotic technologies are generating increased awareness about the possibilities offered by robotic prosthetics, thereby fostering market growth. Furthermore, augmented healthcare expenditure is poised to propel the global robotic prosthetic market on an upward trajectory.
Restraints: Despite the promising growth prospects, certain factors act as growth constraints. The elevated costs associated with the implantation and maintenance of robotic prosthetics render them inaccessible to a substantial segment of the population in need. This fiscal barrier constitutes a significant hindrance to market expansion. Additionally, inadequate reimbursement policies and limited public awareness about the existence and utility of robotic prosthetic products may impede market growth. The deficiency in healthcare infrastructure prevalent in many underdeveloped nations also threatens to hinder market expansion during the forecast period.
Technology Insights:
Segmentation by technology reveals the classification of the global robotic prosthetic market into Bluetooth-enabled devices, microprocessor-powered devices, myoelectric technology, and targeted muscle reinnervation. Among these, microprocessor technology enjoys greater accessibility compared to its myoelectric counterparts. Research endeavors are actively engaged in the development of innovative devices harnessing microprocessor technology. Meanwhile, myoelectric prosthetics, externally powered and devoid of muscle strain or stress on patients, continue to garner attention due to their adaptability. This technology employs electric signals to facilitate limb movement, representing a key advantage.
Application Perspectives:
Based on application, the global robotic prosthetic market is categorized into upper body extremities and lower body extremities. The preceding year witnessed the dominance of the lower body extremities segment in terms of revenue. This category encompasses body parts from the hip to the toes, encompassing knee joints, ankle joints, thigh, leg, and foot muscles and bones. Robotic prosthetics catered to the lower body facilitate an improved quality of life for individuals with disabilities, enabling them to regain a semblance of normal mobility by replacing lost or compromised legs, whether above or below the knee.
Significant Advancements and Prospects:
Technological advancements, particularly within the microprocessor domain, and the evolution of devices dedicated to enhancing the functionality of robotic arms and legs have been instrumental in benefiting both healthcare practitioners and patients grappling with disorders. Conversely, upper body extremities—comprising components like the upper arm, forearm, hand, as well as the intricate network of muscles, nerves, and blood vessels—are also emerging as a significant focal point for robotic prosthetic treatments. This sector is experiencing notable innovation, further underscoring the potential growth avenues.
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Segments Covered in the Report: The report conducts a comprehensive analysis across multiple segments, presenting a comprehensive view of the market's dynamics and trends. These segments include product type outlook, technology outlook, application outlook, end-use, and regional outlook.
Product Type Outlook: The market analysis categorizes the robotic prosthetic landscape based on product types, encompassing the following classifications:
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Robotic prosthetics represent an innovative subset within the broader field of artificial devices designed for the replacement of lost body parts. This niche domain has evolved through the symbiotic interaction between robots and humans. Prosthetics are devised to reinstate the normal functioning of afflicted, injured, or absent limbs, and their creation involves both manual craftsmanship and Computer-Aided Design (CAD), a user-friendly interface that aids designers in evaluating and scrutinizing their creations.
Get a free sample PDF of the report, visit @ https://www.reportsanddata.com/download-free-sample/4913
Market Dynamics:
Drivers: The impetus behind the exceptional growth projected for the robotic prosthetic sector stems from the escalating prevalence of vascular diseases and congenital disorders, coupled with the rapid advancements in robotics technology. According to estimates from the International Osteoporosis Foundation, one in every three women and one in every five men aged 50 or above are prone to experiencing fractures at least once in their lifetime. The surging incidence of road accidents, rising occurrences of diverse cancer types, and the presence of individuals born with disabilities contribute to an expanding population of amputees. Concurrently, heightened research endeavors and cutting-edge robotic technologies are generating increased awareness about the possibilities offered by robotic prosthetics, thereby fostering market growth. Furthermore, augmented healthcare expenditure is poised to propel the global robotic prosthetic market on an upward trajectory.
Restraints: Despite the promising growth prospects, certain factors act as growth constraints. The elevated costs associated with the implantation and maintenance of robotic prosthetics render them inaccessible to a substantial segment of the population in need. This fiscal barrier constitutes a significant hindrance to market expansion. Additionally, inadequate reimbursement policies and limited public awareness about the existence and utility of robotic prosthetic products may impede market growth. The deficiency in healthcare infrastructure prevalent in many underdeveloped nations also threatens to hinder market expansion during the forecast period.
Technology Insights:
Segmentation by technology reveals the classification of the global robotic prosthetic market into Bluetooth-enabled devices, microprocessor-powered devices, myoelectric technology, and targeted muscle reinnervation. Among these, microprocessor technology enjoys greater accessibility compared to its myoelectric counterparts. Research endeavors are actively engaged in the development of innovative devices harnessing microprocessor technology. Meanwhile, myoelectric prosthetics, externally powered and devoid of muscle strain or stress on patients, continue to garner attention due to their adaptability. This technology employs electric signals to facilitate limb movement, representing a key advantage.
Application Perspectives:
Based on application, the global robotic prosthetic market is categorized into upper body extremities and lower body extremities. The preceding year witnessed the dominance of the lower body extremities segment in terms of revenue. This category encompasses body parts from the hip to the toes, encompassing knee joints, ankle joints, thigh, leg, and foot muscles and bones. Robotic prosthetics catered to the lower body facilitate an improved quality of life for individuals with disabilities, enabling them to regain a semblance of normal mobility by replacing lost or compromised legs, whether above or below the knee.
Significant Advancements and Prospects:
Technological advancements, particularly within the microprocessor domain, and the evolution of devices dedicated to enhancing the functionality of robotic arms and legs have been instrumental in benefiting both healthcare practitioners and patients grappling with disorders. Conversely, upper body extremities—comprising components like the upper arm, forearm, hand, as well as the intricate network of muscles, nerves, and blood vessels—are also emerging as a significant focal point for robotic prosthetic treatments. This sector is experiencing notable innovation, further underscoring the potential growth avenues.
To know more about the latest insights of the report, visit @
https://www.reportsanddata.com/request-latest-insight/4913
Segments Covered in the Report: The report conducts a comprehensive analysis across multiple segments, presenting a comprehensive view of the market's dynamics and trends. These segments include product type outlook, technology outlook, application outlook, end-use, and regional outlook.
Product Type Outlook: The market analysis categorizes the robotic prosthetic landscape based on product types, encompassing the following classifications:
- Prosthetic Arms
- Prosthetic Ankle/Feet
- Prosthetic Knees
- Prosthetic Hands
- Others
- Bluetooth
- Microprocessor
- Myoelectric Technology
- Targeted Muscle Reinnervation
- Upper Body Extremities
- Lower Body Extremities
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- U.S.
- Canada
- U.K.
- Germany
- France
- BENELUX
- China
- India
- Japan
- South Korea
- Brazil
- Saudi Arabia
- UAE
- Turkey
- Artificial Limbs and Appliances
- Endolite
- Hansen Medical Inc.
- HDT Global Inc.
- Open Bionics
- Ottobock
- Ossur
- ReWalk Robotics
- Smith & Nephew
- SynTouch Inc.
- The Shadow Robot Company
- Touch Bionics
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.
Browse for more reports:
Kidney Function Test Market
Sacral Neuromodulation Market
Digital Pathology Market
Point of Care (POC) Diagnostics Market
Cell Surface Markers Market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
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