Global Robotic Prosthetic Market Set for Rapid Growth, to reach Value USD 2.10 Billion by 2026

Zion Market Research has published a new report titled “Robotic Prosthetic Market by Extremity (Upper Body Prosthetics and Lower Body Prosthetics), and Technology (Myoelectric Prosthetics and MPC Prosthetics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026” According to the report, 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.

Browse the full “Robotic Prosthetic Market by Extremity (Upper Body Prosthetics and Lower Body Prosthetics), and Technology (Myoelectric Prosthetics and MPC Prosthetics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/robotic-prosthetic-market

Prosthetic implant can be defined as an artificial device which replaces a absent body part, that may have been lost through disease or trauma. Prosthetics are aimed to restore the standard functions of the absent body part. Prosthetics can be produced by hand or with Computer-Aided Design (CAD), a software interface that helps creators design and analyze the creation with computer-generated 2-D and 3-D graphics as well as analysis and optimization tools. Advances in the technology of prosthetic components have improved the possibility of successfully fitting the geriatric amputee with a prosthesis.

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

• Upper Body Prosthetics
• Lower Body Prosthetics

Global Robotic Prosthetic Market: By Technology

• Myoelectric Prosthetics
• MPC Prosthetics

Global Robotic Prosthetic Market: By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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