The medical robotics industry has undergone significant development. From the introduction of robots to perform basic activities such as assistance in surgical procedures and endoscopy, medical robots are now used in a wide range of applications such as neurosurgeries, microsurgeries, radiology, emergency response, and prosthetics. Robots are also used in non-medical applications in hospitals. Currently, a wide range of medical robots are available commercially. Large scale research is being conducted to introduce breakthrough technologies in medical robots. Robotic limbs and present-day prosthetics are described as mechanical limbs, which are managed by nerve impulses and microprocessors. Companies operating in prosthetics field is developing into building exoskeletons. Exoskeletons are artificially intelligent and wearable. It is a bionic device that helps in enabling partially handicapped patients to walk again. Such kinds of robotic prosthetics have moved to actual physical replacement from simply esthetic replacement with all biological limb functions.

Progressions in the processors used in the myoelectric arms has allowed developers to make improvements in fine-tuned control of the prosthetic. Technological advancements, increase in cases of amputation across the globe, and initiatives by nonprofit organizations and government organizations to facilitate the funding of robotic prosthetic devices are some of the factors driving the global robotic prosthetics market. Severe injuries, cancerous tumors in bones or muscles of limbs, accidents, limb infections, and frostbites have increased the number of amputations. Other causes such as diabetes, obesity, vascular disease, arthritis, and stroke also add to the number of amputation cases. According to Amputee Coalition, approximately 185,000 amputations are performed in the U.S each year. This is expected to boost the demand for robotic prosthetics during the next few years.

The global robotic prosthetics market can be segmented based on product type, technology, application, end-user, and geography. In terms of product type, the global robotic prosthetics market can be divided into prosthetic arm, prosthetic knee, prosthetic feet/ankle, prosthetic hand, and others. Based on application, the global robotic prosthetics market can be bifurcated into upper body extremity and lower body extremity. Based on technology, global robotic prosthetics market can be split into MPC prosthetics, myoelectric prosthetics, and others. In terms of end-user, the global robotic prosthetics market can be classified into hospitals, specialty clinics, and others. Increase in usage of connectivity technologies such as myoelectric technology, Bluetooth, and microprocessor controller has propelled the demand for robotic prosthetic devices. Additionally, developments in materials science have augmented the use of carbon fiber and thermoplastics materials in the manufacture of robotic amputation devices, which is enhancing the overall effectiveness of robotic prosthetic devices. Rise in adoption of these technologically advanced products and growing awareness about these advancements in developed nations are some of the factors estimated to drive the global robotic prosthetics market during the forecast period.

In terms of geography, the global robotic prosthetics market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of value, North America is expected to dominate the global robotic prosthetics market due to the high demand for robotic prosthetics in the U.S. Dominance of the region can also be ascribed to the initiatives of the U.S. Government to invest in technologically advanced prosthetic limbs for soldiers and veterans. The robotic prosthetics market in Europe and Asia Pacific is projected to expand significantly owing to several factors such as increase in adoption of robotic prosthetics and technological advancements.

Key players operating in global robotic prosthetics market include Touch Bionics, Inc., Human Technology Inc., HDT Global, Shadow Robot Company, SynTouch, Inc., Ottobock, Endolite, and Össur Americas.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Robotic Prosthetics Market

Pre Book