Robotic Prosthetics Market

Robotic Prosthetics Market – Overview

The key factor driving the global robotic prosthetics market is the increasing number of accidental cases where amputation is necessary. The rising number of amputation cases at a global level, coupled with major advancements in robotic space, and various initiatives taken by numerous government organizations will add a boost to the overall growth of this market. Besides this, healthcare organizations such as the Centers for Disease Control (CDC) and various nonprofit organizations such as Amputee Coalition, are facilitating the funding and purchasing of prosthetic devices for the global amputee population. The increase in limb amputations as a result of cardiovascular disease, tumors, war casualties, and congenital anomalies is most likely to propel the growth of the robotic prosthetics market in the forecast period set between 2021 and 2031.

Robotic prosthetics alludes to the specialized and clinical course of making artificial limbs and attaching them to people who went through amputation surgery. This interaction works by embedding arrays of electrodes in the cerebral region that is responsible for controlling the development of the sense of touch similar to the functioning of the natural limb. The electrodes sense action in neurons as the patient ponders upon moving their own arms to guide the robotic arm to move directionally. The robotic prosthetic is an artificial appendage that improves the capacity and way of life of the individual with a missing body part and it help in reestablishing the ordinary capacity of the missing limbs.

The report on the global robot prosthetics market provides a 360-degre overview of the market and its prime growth parameters such as drivers, restraints, challenges, and upcoming growth opportunities. It also discusses the impact of the novel COVID19 pandemic prevalent from 2020 on this market and how can players gain benefit from this situation. It also lists the key innovations, product launches, research results and other aspects of development caused by players operating in this market that will be beneficial for the entire market in the years to come. The report is available for sale on the company website.

Robotic Prosthetics Market – Nature of Market Competition

The global robot prosthetics market is highly fragmented in nature due to the presence of both large and small-scale manufacturers. Owing to this nature, the key players of this market are constantly trying to strengthen their position in the market competition by adopting various strategies, including mergers & acquisitions, product innovations, and product modifications and quality checks.

Some of the notable players of the global robot prosthetic market include:

• HDT Global
• Össur Americas
• Ottobock
• Touch Bionics, Inc.
• EndoliteSynTouch, Inc.
• Shadow Robot Company
• Others

Robotic Prosthetics Market – Drivers

The increasing number of ulcers stands as a key factor boosting the growth of the global robotic prosthetics market. In addition to this, the growing use of various connectivity technologies such as microprocessor controllers, Bluetooth, and various other improvements in robotic technology will also help this market flourish in the coming years. Additionally, the rising prevalence of vascular diseases such as diabetes, artillery diseases, stroke, and others will also add boost to the overall growth of this market. Furthermore, the rise in awareness about health and increasing number of government initiatives regarding limb amputation caused due to vascular diseases are likely to help the market generate significant revenues during the forecast period.

Robotic Prosthetics Market – Regional Insights

Regionwise, the global robot prosthetic market is widespread into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each of these regions is further categorized into various nations. North America dominated the market for robotic prosthetics earlier on account of various factors acting in favor of the region. This includes major improvements in robotics sectors, high penetration of technologically advanced products, favorable government initiatives to support robotic technology, and heavy expenditure on healthcare and medical setup. Moreover, numerous government-supported initiatives to prevent amputations in the developed nations of the United States and Canada region are further projected to help this region witness notable revenues in the market during the forecast period.