Global demand for robotic prosthetic market was valued at approximately USD 1.27 Billion in 2019, and is expected to generate revenue of around USD 2.10 Billion by end of 2026, growing at a CAGR of around 8.8% between 2020 and 2026.
The report covers forecast and analysis for the robotic prosthetic market on a global and regional level. The study provides historic data from 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion). The study includes drivers and restraints for the robotic prosthetic market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the robotic prosthetic market on a global as well as regional level.
In order to give the users of this report a comprehensive view on the robotic prosthetic market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product and services segment is benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the robotic prosthetic market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the robotic prosthetic market on global and regional basis.
Factors such as increasing incidence of vascular diseases, rising cases of obesity, diabetes, and stroke, growing usage of connected technology, and high investment in research and development will act as major driving factors in the growth of global robotic prosthetic market. Advancements in material science and technological advancements will act as an opportunity for the market players in the robotic prosthetic market. Nonetheless, high cost of robotic prosthetic, need for maintenance and lack of awareness in low income countries will restrict the growth of global robotic prosthetic market.
The global robotic prosthetic market has been split into extremity, technology, and region. Based on extremity, robotic prosthetic market has been segmented into upper body prosthetics and lower body prosthetics. The lower body prosthetics segment accounted for the highest market share in 2019 due to increasing demand from geriatric population and availability of lower body prosthetics. The technology segment has been segmented into myoelectric prosthetics and MPC prosthetics.
Regionally, the robotic prosthetic market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. North America will be the leading region during the forecast period. Quick uptake of new technologies, high prevalence of vascular disorders, easy availability, and presence of leading market players will boost the market growth in this region. Europe will be the second largest market. The major reasons are existence of skilled physicians, growth in awareness concerning use of prosthetics, high diabetes incidence, and favorable reimbursement setup. Asia Pacific will proliferate at speedy rate over the forecast period due to fast technological improvements in the healthcare sector and swelling cases of stroke and other vascular ailments. Latin America market will progress at a noteworthy rate during the estimate period. The Middle Eastern and African countries are expected to experience noticeable growth in the projected time-frame.
The report also includes detailed profiles of key players such as Ottobock, HDT Global, Touch Bionics, Inc., EndoliteSynTouch, Inc., Össur Americas, and Shadow Robot Company among others.
This report segments the Global Robotic Prosthetic Market as follows:
Global Robotic Prosthetic Market: By Extremity
Global Robotic Prosthetic Market: By Technology
Global Robotic Prosthetic Market: By Region