US Robotic Prosthetics Market by End-user and Product - Forecast and Analysis 2023-2027

US Robotic Prosthetics Market Forecast 2023-2027

The US robotic prosthetics market size is estimated to grow by USD 68.11 million at a CAGR of 7.12% between 2022 and 2027.  The market's expansion is underpinned by various factors, such as the expanding global construction sector, increasing disposable incomes, and the growth of the travel industry. These factors are driving demand for durable goods, infrastructure development, and travel-related services, all of which require logistics and supply chain management support. As economies grow and consumer preferences evolve, there is a greater need for predictive maintenance strategies and real-time tracking and monitoring in logistics and supply chain management to ensure efficient operations and customer satisfaction. Additionally, the rising focus on sustainability and environmental concerns is influencing companies to adopt greener practices and technologies in their operations. This shift towards sustainability is driving the adoption of innovative solutions in logistics and supply chain management, including the use of data analytics for efficient resource allocation and waste reduction.

It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

This market report extensively covers market segmentation by end-user (orthotic and prosthetic clinics, hospitals, and specialty orthopedic centers) and product (lower limb robotic and upper limb robotic prosthetics).

By End-User

The market share growth by the orthotic and prosthetic clinics segment will be significant during the forecast period. The orthotic and prosthetic clinics are equipped with the latest infrastructure to meet the needs of patients. They also have certified and certified orthotists and prosthetists who are experts in the design, fitting, and manufacturing of devices that improve function, and mobility and reduce pain caused by orthopedic conditions. 

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The orthotic and prosthetic clinics segment was valued at USD 72.84 million in 2017. The orthotic and prosthetic clinics work closely with physicians and physiotherapists to provide personalized care. A prosthetist manufactures and adjusts the device according to the doctor's instructions. If necessary, doctors refer people to physical therapy to train the prosthesis to walk or occupational therapy to train the upper or lower extremities. These centers reduce treatment time, length of stay at the facility, and the cost of treatment and surgery. Hence, their acceptance is increasing, driving the growth of the segment during the forecast period. 

Market Dynamics and Customer Landscape

The market is witnessing significant advancements in technology, enhancing the quality of life for individuals with limb loss or undergoing amputations. Innovations such as microprocessor-controlled prosthetics and body-powered prosthetics are revolutionizing the field, offering improved accuracy and functionality. Integration with brain-computer interface control allows for more intuitive use. Despite challenges like technological difficulties and training requirements, patient acceptance is increasing due to these prosthetics' robustness and functionality. As the population ages and chronic health conditions rise, the demand for advanced prosthetic solutions, leveraging robotics, sensor technologies, AI, and IoT, is expected to grow, driving further market expansion. Our researchers analyzed the data with 2022 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.

Key Market Driver

The increasing demand for customized prosthetics is notably driving the market growth. Amputation surgeries are on the rise in the United States. This is due to the increasing prevalence of chronic diabetes and an increase in accidents and injuries. A robotic prosthetic mimics the appearance and function of a missing body part. The type of prosthetic you need depends on size, stability, usage, and age. Therefore, people prefer customized robotic prosthetics based on their needs. Several major suppliers such as Ossur and The Ohio Willow Wood offer a wide range of custom robotics. For example, Ossur offers custom solutions such as custom sockets, custom liners, and complete legs.

With the growing demand for custom prosthetics, companies are indeed focusing on developing advanced custom robotic prosthetics. These aim to improve the quality of life for users by enhancing robustness, ensuring better patient acceptance, and integrating sensor technologies. Additionally, advancements in brain-computer interface control are helping to make these more intuitive and user-friendly.  They use computer-aided design (CAD) and computer-aided manufacturing (CAM) to manufacture prosthetics that can conform to the shape of the amputees' limbs. An adaptive laser is used to read the shape of the limb and send the data to a computer. The advent of technologies such as computer-assisted reshaping, 3D scanners, 3D printer integration, and automated engravers has allowed manufacturers to customize limbs. Hence,  increasing demand will drive the growth of the market during the forecast period. 

Significant Market Trends

The emergence of mind-controlled humonics is a key trend influencing the Market growth. The emergence of mind-controlled humonics solutions will change the dynamics of robotic prosthetics and orthotics in the long term. Humonics can address the unmet need for lost senses and volitional control. It also allows for the development of human-like aesthetics. Certain gestures are not possible with orthopedic prosthetics. Equipped with sensory feedback technology, humonics offers mind-controlled, user-centered prosthetic limbs that put the user in complete control. With advanced technology, such devices can transform the lives of people who have lost body parts to trauma or disease.

DEKA Research and Development is working on a mind-controlled prosthetic arm called LUKE, and Ossur is developing a mind-controlled humane solution that allows patients to voluntarily move a prosthetic limb. The company is working to develop the next generation of mind-controlled robotic prosthetics. Once approved and launched, these products will have a positive impact on the growth of the market during the forecast period. 

Major Market Challenge 

The high cost of prosthetics is challenging the Market growth. The cost is higher than that of conventional prosthetics, which affects the adoption of robotic prosthetics. For example, the average cost of conventional prosthetics ranges from USD 9,500 to USD 11,500, not including custom fitting costs. However, Microprocessor Controlled(MPC) and myoelectric prosthetics are expensive. Lack of adequate reimbursement also affects the adoption of robotic prosthetics. The average cost of electronic prosthetics is USD 35,000 to USD 55,000. The Genium X3, a high-end robotic knee prosthesis developed by Ottobock, costs around USD 120,000. The MPC knee is durable, intuitive, and technically advanced. Similarly, Michelangelo's electronic hand costs about USD 60,000.

Some healthcare providers offer advanced products to select patient groups. However, they are expensive. They require proper care and maintenance. Also, patients have to undergo rehabilitation, which increases the cost of treatment. Therefore, the high cost is likely to hamper the growth of the Market during the forecast period. 

Key Market Customer Landscape

The 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 growth strategies.

Global Market Customer Landscape

Who are the Major Market Companies in US?

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: The company offers different types of robotic prosthetics such as Zeus Bionic Hand.

The report also includes detailed analyses of the competitive landscape of the market and information about 11 market companies, including:

• 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.
• Trulife

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.

Segment Overview

The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook 
  • Orthotic and prosthetic clinics
  • Hospitals
  • Specialty orthopedic centers

• Product Outlook 
  • Lower limb robotic prosthetics
  • Upper limb robotic prosthetics

Market Analyst Overview

The market is experiencing significant growth driven by advancements in the healthcare industry and the rise of rehabilitation centers offering cutting-edge solutions. Body-powered prosthetics and those controlled by brain-computer interfaces are at the forefront, aided by sophisticated signal processing. With aging populations and increasing cases of vascular disorders and traumatic traumas, demand for these products is rising. Challenges such as limited access, intense competition, and regulatory obstacles exist, yet innovations like 3D printing and advanced materials science are overcoming them. The market is also focusing on personalization and adaptability, particularly in prosthetic limbs, to enhance functionality and natural movement patterns.

Moreover, the market is witnessing remarkable growth driven by advancements in body-powered prosthetics and brain-computer interface control technologies. These innovations are transforming the lives of individuals with limb loss due to diseases or traumatic injuries, offering enhanced functionality and mobility. Soft sensors and scanning technologies play a crucial role in creating personalized prosthetic solutions. As the population ages, the demand for prosthetic devices that provide natural movement, such as prosthetic knees and feet/ankles, is increasing. Ethical and social considerations are guiding the development of facial and cosmetic prosthetics to improve appearance and self-esteem. Electrical signals from muscle contractions drive MPC prosthetics, which integrate sensors and motors for precise movements, benefitting both lower body and upper body.

Market Scope
Report Coverage	Details
Page number	117
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.12%
Market growth 2023-2027	USD 68.11 million
Market structure	Concentrated
YoY growth 2022-2023(%)	6.76
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
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 Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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