Global Robotic Prosthetics Market By Type (Lower Body Prosthetics and Upper Body Prosthetics), By Technology (MPC Prosthetics, and Myoelectric Prosthetics), By Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Global Robotic Prosthetics Market Size was valued at USD 1,392.6 Million and is expected to reach USD 3212 Million in 2032. This market is estimated to register the highest CAGR of 9% between 2023 and 2032.

Robot prosthetics are artificial or dummy replicas of body parts. The amputated part of the body is replaced with an artificially operating part or prosthetic. The prosthetics are meant to work similarly to an original part of the body. Prosthetics are able to perform nearly all functions performed by the absent body parts. The number of individuals who lost any body part due to reasons like road accidents and disease are adopting robotic prosthetics high in number from last few years.

Robotic prosthetics allow individuals to function seamlessly with similar functioning as compared to amputated parts. Moreover, the robotic prosthetic helps individuals to perform any operations by providing extra support through the robotic mechanism. Due to these reasons, the adoption of robotic prosthetics has increased significantly in the last few years. Key companies in the robotic prosthetics market offer various prosthetic body parts, like prosthetic knees, prosthetic arms, prosthetic hand, prosthetic ankle, and many other parts. The companies offer these robotic prosthetics in many types based on technology integrated into it. This allows individuals to choose from a wide range of robotic prosthetics according to their needs.

Key Takeaways

• Market Growth: The global robotic prosthetics market is set to grow at a CAGR of 9% between 2023 and 2032.
• Adoption Drivers: Growing adoption of robotic prosthetics is mainly due to individuals who lost body parts in accidents and diseases.
• Affordability Issue: High prices of robotic prosthetics hinder market growth, limiting access for many potential users.
• Type Dominance: Lower-body robotic prosthetics hold the majority of the market share at 55.8%, driven by diseases and accidents.
• Technology Leader: Microprocessor prosthetics (MPC) dominate the market with a 57.6% share due to their superior functionality.
• Fast-Growing Segment: Myoelectric prosthetics are expected to grow at a rapid CAGR of 9.4%, driven by increasing demand.
• Growth Opportunities: Innovations in robotic prosthetics and government support create lucrative market opportunities.
• Regional Leader: North America leads with a 42.8% revenue share, thanks to advanced technology and key players in the region.

Driving Factors

People Who Lost Their Body Parts in Accidents are Helping the Market Grow by Adopting Prosthetics

Increasing adoption of robotic prosthetics from individuals with amputated body parts is mainly driving the growth of the global robotic prosthetics market. Many individuals worldwide live without specific body parts due to road accidents, diseases like diabetes, cancer, and vascular disease, and military soldiers in warfare. All these reasons can be given for amputating the body part from the individual.

Amputating the body part from individuals made it hard for them to perform basic human functions like walking for the leg amputated individual, eating amputated hands individuals, and many such examples. Therefore, adopting robotic prosthetics helps the individual perform these functions seamlessly. This is driving the growth of the global robotic prosthetics market.

Many companies offer prosthetics with different features and abilities according to the technology it is based on. Therefore, individuals can choose from a wide range of robotic prosthetics according to their needs. With increasing advances in the robotic prosthetics market, the global robotic prosthetics market is expected to grow significantly over the forecast period.

Restraining Factors

High Price of Robotic Prosthetics Making them Unaffordable for a Major Part of the Population

Robotic prosthetics have high importance in individuals with amputated body parts. They allow the individuals to perform the functions of the amputated body part as it was performed before the amputation. The robotic prosthetics allow them to function seamlessly again, but the price for it is very high in the market.

Robotic prosthetics are available with a wide range of prosthetics according to the technology it is based on. It includes technologies that help the individual to enhance their amputated body part function. It requires complex technology to perform such operations. Therefore, the price of the robotic prosthetics is higher in the market. Due to its high price, robotic prosthetics are not affordable for many individuals across the world. This is restricting the robotic prosthetics market from growing further.

Type Analysis

Lower Body Robotic Prosthetics Dominate Over the Upper Body Robotic Prosthetics

Based on type, the global robotic prosthetics market is divided into lower-body prosthetics and upper-body prosthetics. From these types, lower-body prosthetics dominate the global robotic prosthetics market by covering a major revenue share of 55.8%. Lower body prosthetics grow due to the increasing prevalence of fatal diseases like diabetes and cancer.

These diseases forced the amputation of infected body parts. Therefore, it is driving the growth of lower body prosthetics in the global robotic prosthetics market type segment. Also, road accidents and individuals losing their lower limbs have increased in the last few years. Therefore, it is also propelling the market’s growth of lower-body robotic prosthetics.

Technology Analysis

High Stability and Natural Movements are Driving the Growth of the Microprocessor Prosthetics in the Market

Based on technology, the global robotic prosthetics market is classified into myoelectric prosthetics and MPC prosthetics. From these technologies, the MPC prosthetics or microprocessor prosthetics hold a major revenue share of 57.6%. This domination of microprocessor prosthetics is owing to the ability of these prosthetics to offer more functionality, accuracy, stability, and natural movements than myoelectric prosthetics.

In addition, microprocessor prosthetics have revolutionized the lower limb amputees’ life by providing efficient and better prosthetics. All these factors are positively affecting the growth of microprocessor prosthetics in the technology segment of the global robotic prosthetics market.

However, myoelectric prosthetics are expected to grow at the fastest CAGR of 9.4% during the forecast period. Many key Companies are offering myoelectric prosthetics in the market. With increasing demand, myoelectric prosthetics are also anticipated to grow significantly over the forecast period.

Market Key Segments

By Type

• Lower Body Prosthetics
• Upper Body Prosthetics

By Technology

• Myoelectric Prosthetics
• MPC Prosthetics

Growth Opportunities

Increasing Innovations in Robotic Prosthetics and government Support Expected to Create Many Opportunities in the Market

With advancing technology, the key companies in the global robotic prosthetics are investing heavily in research and development of advanced and innovative robotic prosthetics for individuals that can perform their functions properly and more precisely. Major companies in the market are adopting various strategies in robotic prosthetics, like using better materials and integrating advanced technology like artificial intelligence, 3D printing, and customized prosthetics. These strategies help individuals enhance the user experience of robotic prosthetics by providing high-quality prosthetics. These key factors are expected to create many lucrative opportunities in the global robotic prosthetics market during the forecast period.

Moreover, the governments of many countries across the world are supporting the growth of the robotic prosthetics market by providing various initiatives and research & developments to upgrade robotic prosthetics with advanced technology.

Latest Trends

Integrating Advanced Technology in Robotic Prosthetics is Propelling the Growth of the Global Robotic Prosthetics Market

The ongoing trend of integrating advanced technology in robotic prosthetics is fueling the growth of the global robotic prosthetics market. The key companies in robotic prosthetics are integrating various technologies like artificial intelligence, myoelectric prosthetics, and microprocessor-integrated prosthetics. These advanced technologies help individuals regain control of the amputated body part and perform all its functions through robotic prosthetics. Companies are still researching the development of more efficient and affordable robotic prosthetics in the market, which can perform better and be affordable to a major share of the population.

Regional Analysis

North America Leads the Global Robotic Prosthetics Market by Holding Major Revenue Share

North America leads the global robotic prosthetics market by holding a major revenue share of 42.8%. This massive growth in North America is attributed to the presence of advanced technology and key players in the region. North America is home to many key companies in the global robotic prosthetics market which are researching the development of advanced robotic prosthetics.

This is contributing to the growth of the robotic prosthetics market in North America. Also, governments in countries like the United States and Canada are taking various initiatives to provide robotic prosthetics to individuals with amputated body parts. All these key factors are boosting the growth of the robotic prosthetics market in North America.

After North America, Asia Pacific is expected to grow at a high CAGR of 9.8% in the global robotic prosthetics market over the forecast period. The increasing geriatric population and the rising cases of amputations among individuals are driving the growth of the robotic prosthetics market in the Asia Pacific region.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Player Analysis

The global robotic prosthetics market is highly fragmented in many small and big companies offering prosthetics. Major key players in the market are adopting various strategies like collaboration and partnership to expand their business share and strengthen their position in the market. Many key players are focusing on research and development to upgrade their prosthetics. Some of the key players in the global robotic prosthetics market are Össur hf., HDT Global, SynTouch Inc., Shadow Robot Company, Human Technology, Inc, Ottobock, Open Bionics, Fillauer, Hanger Inc, etc.

Market Key Players

• Össur hf.
• HDT Global
• SynTouch Inc.
• Shadow Robot Company
• Human Technology, Inc
• Ottobock
• Open Bionics
• Fillauer
• Hanger Inc
• Other Key Players

Recent Developments

• In 2021, Cleveland Clinic Researchers developed a bionic arm. It provides a natural experience to amputee individuals like normal individuals. It Functions and performs similarly to the natural hand.
• In 2021, Shanghai Jiao Tong University and MIT mutually designed the lightweight, soft, and affordable neuroprosthetic hand. It provides a real-time and natural experience to the amputee individual.

Report Scope