Robotic Prosthetics Market in the US to grow by USD 68.11 million from 2022 to 2027 | The increasing demand for customized prosthetics drives the market - Technavio

NEW YORK, Aug. 28, 2023 /PRNewswire/ -- The robotic prosthetics market in US is estimated to grow by USD 68.11 million from 2022 to 2027, at a CAGR of 7.12%. For Comprehensive details on the market size of historic period(2017 to 2021) and forecast period (2023-2027) - View Free Sample report

Key Developments:

• Rapid advances in technology, intense competition, and changing dynamics in the market are the key factors for the intense competition among companies.
• With the rising competition, the market will see consolidation. However, manufacturing complexities and high production costs pose significant risk factors for companies in the market.

Market Dynamics

Major Drivers

The increasing demand for customized prosthetics is notably driving the US Robotic Prosthetics Market growth. In the US, amputation surgeries are on the rise due to the growing prevalence of chronic diabetes and an upsurge in accidents and injuries. A robotic prosthetic mimics the appearance and function of a missing part of the body. The kind of prosthetic you need depends on size, stability, usage, and age. Consequently, people choose customized robotic prosthetics based on their requirements. Companies are emphasizing more on developing advanced custom robotic prosthetics with the demand for custom prosthetics growing. An adaptive laser is used to read the shape of the limb and send the data to a computer. The advent of technologies such as computer-assisted reshaping, 3D scanners, 3D printer integration, and automated engravers has allowed manufacturers to customize limbs. Hence, rising demand for customized prosthetics will fuel the growth of the market during the forecast period. 

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Free Sample Report

Company Landscape
The robotic prosthetics market in US is concentrated; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now
Company Profiles

The robotic prosthetics market in US report includes information on the product launches, sustainability, and prospects of leading companies, including Aether Biomedical sp. z o.o., Blatchford Ltd., Click Medical LLC, DEKA Research and Development Corp., Fillauer LLC, Hanger Inc, HDT Global, Mobius Bionics LLC, Ossur hf, Ottobock SE and Co. KGaA, Steeper Inc., and Trulife.

 Market Segmentation

This robotic prosthetics market report in the US extensively covers market segmentation by end-user (orthotic and prosthetic clinics, hospitals, and specialty orthopedic centers) and product (lower limb robotic prosthetics and upper limb robotic prosthetics). 

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The prosthetics and orthotics market is estimated to grow at a CAGR of 6.1% between 2022 and 2027. The market size is forecasted to increase by USD 2,944.61 million. This report extensively covers market segmentation by type (orthotics and prosthetics), end-user (clinics, hospitals, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). Advances in prosthetic and orthotic technologies are notably driving market growth.

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

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SOURCE Technavio