Increasing Technological Advancement In Robotic Prosthetic Products And Government Initiatives And Expenditure On Purchasing Prosthetic Products For Needy Disabled People Are Key Factors Driving Market Revenue Growth, Says Reports and Data

NEW YORK, Feb. 17, 2022 /PRNewswire/ -- The global robotic prosthetic market size is expected to reach USD 2,384.4 Million in 2028 and register a revenue CAGR of 8.9% over the forecast period, according to latest report by Reports and Data. Steady revenue growth of the robotic prosthetic market can be attributed to development of modern prosthetic implants and technologies. Advanced robotic prosthetic products with sensors empower the wearer to control voluntary movements through ultrasound signaling, which is expected to boost market growth.

Rising cases of amputation, technological advancements in robotics, and increasing incidence of ulcers, diabetes, and intrinsic irregularities that lead to the removal of upper or lower body extremities are expected to drive market growth during the forecast period. 

Growing use of innovative technologies such as Bluetooth, microprocessors, and myoelectric technology has increased the interest in robotic prosthetic products among people. Moreover, development in material science is enabling the use of thermoplastic and carbon fiber material in making robotic prosthetic products, which helps to increase efficiency and decrease product cost. Increasing awareness and rising demand for advanced prosthetic products in developed nations are expected to drive robotic prosthetic market growth.  

However, high implantation and maintenance cost of robotic prosthetic products can limit market growth over the forecast period. Adoption of robotic prosthetic, such as prosthetic arms, prosthetic knees, prosthetic hands, and other products, requires huge investments, which can also restrain market growth to some extent.

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Some Key Highlights From the Report:

• By application, upper body extremities segment revenue is expected to grow at a significantly high CAGR over the forecast period. Advancement in technology and new innovations in robotic prosthetic products are expected to boost growth of this segment. Moreover, adoption of advanced polymers for development of modern prosthetic and increasing requirements for prosthetic products for upper body extremities are driving revenue growth of the segment.
• By end-use, ambulatory surgical centers segment revenue is expected grow at a significantly high rate over the forecast period. Ambulatory surgical centers provide same-day surgical care with better outcomes. People are preferring ambulatory surgical centers as they provide cost-effective care and preventive procedures, which in turn, is expected to boost growth of the segment.

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• Robotic prosthetic market in Asia-Pacific is expected to register fastest revenue CAGR over the forecast period due to rising number of key players operating in the market, along with increasing awareness and demand for advanced robotic prosthesis. APAC has a developing and productive healthcare system, which in turn, is contributing immensely to market growth.
• In August 2019, an all-new electronic skin system, Asynchronous Coded Electronic Skin (ACES) was developed at the National University of Singapore. ACES is equipped with ultra-high responsiveness and is capable of pairing with any sensor skin layers in order to function efficiently as an electronic skin. This artificial nervous system can give prosthetic devices and robots a sense of touch, which can be equivalent to or even better than human skin.
• Major players in the market include 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, and Touch Bionics.

To identify the key trends in the industry, research study at : https://www.reportsanddata.com/report-detail/robotic-prosthetic-market

For this report, Reports and Data has segmented the global robotic prosthetic market based on product type, technology, end-use, application, and region:  

Product Type Outlook (Revenue, USD Million; 2018-2028)

• Prosthetic Arms
• Prosthetic Ankle/Feet
• Prosthetic Knees
• Prosthetic Hands
• Others

Technology Outlook (Revenue, USD Million; 2018-2028)

• Bluetooth
• Microprocessor
• Myoelectric Technology
• Targeted Muscle Reinnervation

Application Outlook (Revenue, USD Million; 2018-2028)

• Upper Body Extremities
• Lower Body Extremities

End-Use (Revenue, USD Million; 2018-2028)

• Hospitals
• Ambulatory Surgical Centers
• Clinics

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Regional Outlook (Revenue, USD Million; 2018-2028)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Israel
• Rest of MEA

f MEA

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