Prosthetic Robot Arm Market by Technology and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR41664
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The prosthetic robot arm market has the potential to grow by USD 342.09 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 12.21%.

This prosthetic robot arm market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (microprocessor-based and myoelectric) and geography (North America, Europe, APAC, South America, and MEA). The prosthetic robot arm market report also offers information on several market vendors, including exiii Inc., Fillauer LLC, Hunter Defense Technologies Inc., Kinova Inc., Mobius Bionics LLC, Open Bionics Ltd., Ossur hf., Ottobock SE and Co. KGaA, TASKA Prosthetics, and Vincent Medical Holdings Ltd. among others.

What will the Prosthetic Robot Arm Market Size be in 2021?

Prosthetic-Robot-Arm-Market-Market-Size-2020-2025

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Prosthetic Robot Arm Market: Key Drivers and Trends

The increase in amputation cases is notably driving the prosthetic robot arm market growth, although factors such as high cost of equipment may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the prosthetic robot arm market industry get your FREE report sample now.

  • The increase in amputation cases has been a key driver influencing the growth of the prosthetic robot arm market.
  • The demand for prosthetic robot arms will increase considerably, owing to the rising number of amputations because of accidents, cancerous tumors of the bone or arm muscles, infections, and frostbite.
  • An increase in the number of amputation cases due to diseases such as obesity, diabetes, arthritis, stroke, and vascular ailments will raise the demand for prosthetic robot arms.

 

  • Prosthetic robots have gained popularity over the years due to technological advances and other improvements in the products offered by vendors, leading to prosthetic robot arm market growth.
  • Vendors are switching to materials such as advanced plastics and carbon fiber composites as well as electronic technology to ensure that the arms are more controllable and capable of automatically adapting their functions to tasks, boosting demand for the prosthetic robot arms.
  • The rising adoption of technologically advanced products in developed regions and growing awareness about such advances are a few factors that will drive market growth.

This prosthetic robot arm market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Prosthetic Robot Arm Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • exiii Inc.
  • Fillauer LLC
  • Hunter Defense Technologies Inc.
  • Kinova Inc.
  • Mobius Bionics LLC
  • Open Bionics Ltd.
  • Ossur hf.
  • Ottobock SE and Co. KGaA
  • TASKA Prosthetics
  • Vincent Medical Holdings Ltd.

 

The prosthetic robot arm market is concentrated and the vendors are deploying growth strategies such as taking initiatives to innovate their customer services, support, and training to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the prosthetic robot arm market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Prosthetic Robot Arm Market?

Prosthetic-Robot-Arm-Market-Market-Share-by-Region-2020-2025

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38% of the market’s growth will originate from Europe during the forecast period. Germany is the key market for the prosthetic robot arm market in Europe. Market growth in this region will be slower than the growth of the market in APAC.

The preference for 3D printing and the emergence of startups that focus on providing innovative products will facilitate the prosthetic robot arm market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Technology Segments in the Prosthetic Robot Arm Market?

Prosthetic-Robot-Arm-Market-Market-Share-by-Technology-2020-2025

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Microprocessor-based prosthetic robot arms offer dynamic control along with the ability to help users simulate normal biological arm functions with the help of sensors. The major reasons for the growth of the market segment are better durability, limited need for adjustment, and easy maintenance of microprocessor-based prostheses.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the prosthetic robot arm market size.

 

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What are the Key Factors Covered in this Prosthetic Robot Arm Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive prosthetic robot arm market growth during the next five years
  • Precise estimation of the prosthetic robot arm market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the prosthetic robot arm industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of prosthetic robot arm market vendors

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Prosthetic Robot Arm Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 12%

Market growth 2021-2025

$ 342.09 million

Market structure

Concentrated

YoY growth (%)

10.86

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

Europe at 38%

Key consumer countries

China, US, Japan, Germany, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

exiii Inc., Fillauer LLC, Ossur hf., Kinova Inc., Mobius Bionics LLC, Open Bionics Ltd., Ottobock SE and Co. KGaA, TASKA Prosthetics, Hunter Defense Technologies Inc., and Vincent Medical Holdings Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The prosthetic robot arm market growth will increase by $317.75 million during 2019-2024.
The prosthetic robot arm market is expected to grow at a CAGR of 10.80% during 2019-2024.
Technavio has segmented the prosthetic robot arm market by technology (Microprocessor-based and Myoelectric) ,other 2 (Net pen culture, Floating-cage culture, Pond culture, and Rice field culture) , and geographic (Europe, North America, APAC, and South America).
exiii Inc., Fillauer LLC, Hunter Defense Technologies Inc., Kinova Inc., Mobius Bionics LLC, Open Bionics Ltd., Ossur hf., Ottobock SE & Co. KGaA, TASKA Prosthetics, Vincent Medical Holdings Ltd. are a few of the key vendors in the prosthetic robot arm market.
Europe will register the highest growth rate of 36.16% among the other regions. Therefore, the prosthetic robot arm market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the prosthetic robot arm market growth are:
  • Increase in amputation cases
  • 3D-printed prosthetic robot arms
The prosthetic robot arm market vendors should focus on grabbing business opportunities from the microprocessor-based segment as it accounted for the largest market share in the base year.
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