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The US robotic prosthetics market size is forecast to increase by USD 84.2 million at a CAGR of 8.09% between 2024 and 2028. The market in the US is experiencing significant growth due to several driving factors. The growing target population and focus on restoring the mobility and independence of amputees represent a substantial market opportunity. Additionally, the increasing number of technological advances and R&D activities are leading to the development of more advanced and functional prosthetic devices. However, the high cost of prosthetics remains a major challenge for the market, limiting accessibility for many individuals in need. Despite this, the potential benefits of robotic prosthetics, such as improved functionality and increased user comfort, are driving innovation and investment in the field.
Overall, the market is poised for continued growth as technological advancements and increasing demand meet to address the needs of the amputee community.
The market is witnessing significant growth due to the increasing prevalence of limb loss from amputations. According to the Centers for Disease Control and Prevention, approximately 2 million Americans live with limb loss, with diabetes and vascular disorders being the leading causes. The aging population and chronic health conditions are also contributing to the market's growth. Hospitals, rehabilitation centers, and prosthetic clinics are the major end-users of robotic prosthetics. Two main types of prosthetic limbs are microprocessor-controlled prosthetics and body-powered prosthetics. Microprocessor-controlled prosthetics offer greater accuracy and functionality through signal processing and AI technologies.
However, they require extensive training and IoT connectivity for optimal performance. In contrast, body-powered prosthetics are less complex and more powerful but offer less functionality and accuracy. The market's growth is driven by the need to improve the quality of life for amputees. Robotics, materials science, and sensor technologies are key areas of research and development in the market. Technological difficulties, such as cost and patient acceptance, remain challenges for market growth. Despite these challenges, the market is expected to continue growing due to the increasing prevalence of limb loss and advancements in robotic prosthetics technology.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Orthotic and prosthetic clinics segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to the increasing number of limb losses from amputations. According to the Centers for Disease Control and Prevention, approximately 2 million Americans live with limb loss, with diabetes, vascular disorders, and traumatic traumas being the leading causes. The demand for advanced prosthetic limbs is increasing as they offer improved quality of life for patients. Hospitals, rehabilitation centers, and prosthetic clinics are major end-users of these devices. Microprocessor-controlled prosthetics and body-powered prosthetics are the two primary types of prosthetic limbs. Microprocessor-controlled prosthetics offer greater accuracy through signal processing and training requirements, while body-powered prosthetics are more affordable and require less maintenance.
The aging populations and chronic health conditions in the US are driving the demand for customized and personalized prosthetic limbs. Advancements in robotics, materials science, sensor technologies, and 3D printing are revolutionizing the prosthetics industry. Soft sensors, IoT, AI, and technological difficulties are some of the challenges that need to be addressed for the development of functional, and adaptable prosthetic limbs. Regulatory obstacles and ethical considerations are also crucial factors that need to be addressed for the widespread adoption of these advanced prosthetic solutions.
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The Orthotic and prosthetic clinics segment was valued at USD 77 million in 2018 and showed a gradual increase during the forecast period.
Our market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing target population and focus on restoring mobility and independence of amputees is the a key driver of the market. The US market for robotic prosthetics is witnessing significant growth due to the increasing number of individuals requiring artificial limbs as a result of trauma, accidents, and chronic diseases such as diabetes. According to the Centers for Disease Control and Prevention (CDC), approximately 1,500 babies are born each year with upper limb reductions, and 750 babies are born with lower limb reductions. Furthermore, around four out of 10,000 babies are born with upper limb reductions, and two out of 10,000 babies are born with lower limb reductions. Robotic prosthetics offer advanced features such as natural gait, movement patterns, and improved grasping ability for prosthetic arms and hands, as well as support and stability for prosthetic knees and feet/ankles.
Furthermore, facial prosthetics and cosmetic prosthetics are also gaining popularity for their ability to restore appearance. Robotic prosthetics utilize sensors, motors, and myoelectric technology to detect electrical signals from muscle contractions and translate them into precise movements. Both upper body and lower body prosthetics benefit from these advancements, offering increased dexterity, grasping ability, and overall functionality. MPC (Model Personalized Prosthetics) prosthetics are also gaining traction due to their customized design and improved fit.
The increasing number of technological advances and R&D activities is the upcoming trend in the market. Robotic prosthetics in the US market are witnessing significant advancements due to the integration of sophisticated technologies. These advanced prosthetics replicate natural movement in upper and lower limbs, enhancing the mobility of amputees. Prosthetic arms, equipped with grasping capabilities, enable users to perform complex tasks with ease. Similarly, natural gait and movement patterns are achievable with advanced prosthetic knees and feet/ankles. Support and stability are ensured through the use of sensors and motors in lower body prosthetics. Upper body prosthetics, including hands, offer enhanced dexterity and grasping ability. Facial and cosmetic prosthetics also benefit from technological advancements, providing improved aesthetics.
Furthermore, myoelectric prosthetics, which utilize electrical signals from muscle contractions, and MPC (Model Personalized Control) prosthetics, which use sensors to interpret residual limb signals, further enhance the functionality of these devices. Technological innovations, such as lithium-ion batteries, powerful brushless electric motors, miniaturized sensors, and low-power computer chips, are driving the development of advanced robotic prosthetic devices.
The high cost of prosthetics is a key challenge affecting the market growth. Robotic prosthetics, which include advanced prosthetic arms, knees, feet/ankles, hands, facial, and cosmetic prosthetics, offer enhanced support, stability, and natural gait and movement patterns compared to conventional prosthetics. However, the higher cost of these devices is a significant social consideration, with the average price of electronic prosthetics ranging from USD 35,000 to USD 55,000. Myoelectric prosthetics, which utilize electrical signals generated by muscle contractions, and MPC prosthetics, which use sensors and motors to mimic natural movement, are particularly expensive.
The absence of adequate reimbursements further hinders the adoption of these advanced prosthetics. Despite these challenges, the benefits of improved grasping ability, dexterity, and cosmetic appeal continue to drive demand for robotic prosthetics.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aether Biomedical sp. z o.o.: The company is offering Zeus Bionic Hand, a technologically sophisticated prosthetic device designed to enhance the functionality and mobility of amputees.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is driven by the increasing number of amputations due to limb loss from diseases such as diabetes, vascular disorders, and traumatic traumas. The aging populations and chronic health conditions are also contributing to the growth of this market. Hospitals, rehabilitation centers, and prosthetic clinics are the major end-users of robotic prosthetic limbs. Two main types of prosthetics are available in the market: microprocessor-controlled prosthetics and body-powered prosthetics. Technological innovations, including lithium-ion batteries, powerful brushless electric motors with rare earth magnets, miniaturized sensors integrated into semiconductor chips like accelerometers and gyroscopes, and low-power computer chips, have played a crucial role in the development of these advanced robotic prosthetic devices. Microprocessor-controlled prosthetics offer improved accuracy and functionality through signal processing and soft sensor technologies. However, they require extensive training and are more expensive than body-powered prosthetics.
Furthermore, robotic prosthetics are becoming increasingly personalized and customized through the use of 3D printing and scanning technologies. IoT, machine learning, and AI are also being integrated into prosthetic limbs to enhance functionality and adaptability. Despite the technological advancements, there are regulatory obstacles and ethical considerations that limit the market growth. Intense competition among players in the market is also a challenge. The market is expected to grow at a significant CAGR due to the increasing demand for improved quality of life for amputees. Materials science and sensor technologies are key areas of research in the development of robotic prosthetics.
Moreover, robotics and robotics engineering are also crucial in creating prosthetic limbs that mimic the natural movement of human limbs. In conclusion, the market is expected to grow significantly due to the increasing number of amputations, aging populations, and technological advancements in the field. However, regulatory obstacles, ethical considerations, and intense competition pose challenges to market growth. Customization, personalization, and integration of IoT and AI are key trends in the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
116 |
Base year |
2023 |
Historic period |
2017-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
Market growth 2024-2028 |
USD 84.2 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
7.34 |
Key companies profiled |
Aether Biomedical sp. z o.o., Blatchford Ltd., Click Medical LLC, DEKA Research and Development Corp., Fillauer LLC, Hanger Inc, HDT Global, Mobius Bionics LLC, Ossur hf, Ottobock SE and Co. KGaA, Steeper Inc., and Trulife |
Market dynamics |
Parent market analysis, market growth inducers and obstacles,market forecast , fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this market research report to meet your requirements Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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