Robotics prosthetic is an artificial extremity that augments the function and lifestyle of the person with a missing body element. It helps to restore the ordinary function of the missing part of the individual body through the interaction between robots and human. The Artificial limbs can be managed by computer, sensation and brain with the use of advanced technology. Many of robotic prosthesis are made of waterproof with a lightweight material for instance carbon-fiber, plastic and metal alloys.
According to study, “Global Robotic Prosthesis Market 2016-2025 by Product Type, Region and Country” some of the major companies that are currently working in the global robotic prosthesis market are Artificial Limbs & Appliances, Chas. A. Blatchford & Sons Ltd. (Endolite), BionX Medical Technologies, Inc., Bebionic, Hosmer/Fillauer, Endolite, Shadow Robot Company, Freedom Innovations, LLC, Otto Bock HealthCare GmbH, HDT Global, Inc., Stryker Corporation, Aethon, Open Bionics, Smith and Nephew Inc., ReWalk Robotics, Mazor Robotics Ltd., Medrobotics Corporation, Intuitive Surgical, Inc., KUKA Roboter GmbH, Transenterix, Inc., Hansen Medical, Inc., Dr. Fresh LLC, ZOLL Medical Corporation, RSL Steeper, Nabtesco Corporation, Teh Lin Prosthetic & Orthopaedic Inc., Ossur Americas, Touch Bionics Inc., SynTouch LLC.
Based on product type, global robotic prosthesis market is segmented into Microprocessor Controlled (MPC) Prosthetic Arms, MPC Prosthetic Legs/Knees, MPC Prosthetic Feet/Ankles, MPC Prosthetic Hands and other MPC Prosthetics. Based on technology, market is segmented into Myoelectric Technology, prosthetic foot materials, microprocessor knees and Bluetooth technology. Based on technologically the advanced products market is segmented into PROPRIO FOOT, RHEO KNEE, SYMBIONIC LEG 3, and POWER KNEE. Based on extremity, is segmented into upper body prosthesis and lower body prosthesis. In addition, based on end-users, market is segmented into clinics, hospitals and others.
The global robotic prosthesis is driven by increase of prevalence of diabetes & vascular diseases, increase in investment by private and public players to technologically advance prosthetic products, increase in the number of amputation cases and growing (research & development) R&D activities. In addition, key initiatives are also accepted by the government & nonprofit organizations for instance CDC, Limbless Association, Douglas Bader Foundation, and Amputee Coalition offers assistance to amputee growing area of interest from the private vendors to invest in the market. Moreover, the other restraints include high cost of medical robotics with a poor reimbursement policies. Further rise in the advancements for materials science adds to the major opportunity from the market.
It is expected that the global unit sales to reach 123.9 thousand units owning to an accelerating implementation of Microprocessor Controlled Legs (MPLs), Microprocessor Controlled Arms (MPAs), Microprocessor Controlled Hands (MPHs), Microprocessor Controlled Knees (MPKs), and Microprocessor Controlled Feet (MPF) among others.
North American region is projected to dominate the market during the projected period due to favorable government initiatives for the robotic technology and increase in healthcare expenditure. However, Asia Pacific is expected to emerge as fastest developing region due to rapidly increasing aged population, improved healthcare infrastructure with rising economies. It also estimated that the global robotic prosthetics market to reach US $1.7 billion, by 2025. In future, increase in amputee population owing to various factors, such as frostbite, accidents, diabetes, & vascular disease, is expected to be one of the key factors likely to drive the market.
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Ankur Gupta, Head Marketing & Communications