Robotics Prosthetics Market report of MRFR offers a holistic overview of the market with the help of application segments and geographical regions (America, Europe, Asia Pacific and Middle East and Africa ) that govern the market currently.
The Robotics Prosthetics Market is dominated by the Americas owing to continually developing technology and increasing prevalence of orthopedic diseases. According to the study published by Centers for Disease Control and Prevention, in 2015, the prevalence of osteoporosis and low bone mass at the femur neck in the United States are more in adults aged 50 years.
Europe holds the second position in the global robotics prosthetics market owing to the government support for research & development and availability of funds for research. This is expected to continue driving the European market over the forecasted period.
The Asia Pacific is a huge market. Whereas a country like India and China are considering fastest growing region due to increasing aging population, growing awareness about new technology, and availability of funds. Additionally, they are open to adopting new technology, and best treatment option from developed countries in order to improve the quality of life for their citizen. On the other hand, in the Middle East and Africa holds the lowest market share owing to the incapability of investment and poor healthcare infrastructure.
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Robotics Prosthetics Market – Scenario
The market is expected to show extensive growth in Asia Pacific regions, especially in China. International Diabetes Federation stated that about 420 million adult population worldwide was suffering from diabetes in 2016, which is increasing at the rate of 8.4% per year and is expected to reach 625 million by 2040.
As per the Lancet study, China, and India have high diabetic population as compared to other Asian countries. The number of diabetic population in China has increased from 20.4 million in 1980 to 102.9 million in 2014.
The demand for robotic prosthetic is found to be increasing across the globe, especially in the developed countries of Americas and Europe. Increasing number of amputation cases, as a result of severe injuries to various body parts drives the market. Furthermore, the rising prevalence of obesity, diabetes, vascular disease, stroke, and arthritis also contribute to the increasing number of amputation cases.
According to the estimates published by the Amputee Coalition, approximately 185,000 amputations are performed in the U.S each year. According to the EksoZeroG, in 2015, 625,000 occupational injuries occurred in the manufacturing and construction industries and the U.S. alone spends USD 21 billion per year on workplace-related injuries that drains productivity.
Key Players – Robotics Prosthetics Market:
The Global Robotics Prosthetics Market is highly fragmented with the presence of many local players and international players. The main focus of these players is cost reduction and innovation to ensure sustainability. In addition, the international players implemented growth strategies through collaborations and partnerships to expand their overall market share.
- Touch Bionics Inc. and Touch Bionics Limited. (U.S.),
- HDT Global (U.S.),
- SynTouch Inc. (U.S.),
- Shadow Robot Company (U.K),
- SynTouch, LLC (U.S.),
- Shadow Robot Company (UK),
- Stryker Corporation (U.S.),
- Smith & Nephew (U.K),
- Aethon (U.S.),
- ReWalk Robotics (Israel),
- Medrobotics Corporation (US),
- KUKA Roboter GmbH (Germany),
- Intuitive Surgical, Inc. (U.S.),
- Mazor Robotics Ltd. (Israel),
- Hansen Medical, Inc. (U.S.),
- Transenterix, Inc. (U.S.), and
- ZOLL Medical Corporation (U.S.).
Segmentations – Robotics Prosthetics Market:
The global robotics prosthetics market is segmented on the basis of product, by technology, application, and end user.
On the basis of the product, it is segmented into prosthetic arms, prosthetic feet/ankles, prosthetic legs/knees, prosthetic hands, and others, On the basis of the technology, it is segmented into prosthetic foot materials, Bluetooth, microprocessor knees, myoelectric technology, and others, On the basis of the application, it is segmented into the lower body extremity and upper body extremity and on the basis of the end user, it is segmented into hospitals, clinics, and others.
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