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Robotic Prosthetics Market Size

Report ID: GMI5430
Published Date: Feb 2023
Report Format: PDF

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Robotic Prosthetics Market Size

Robotic Prosthetics Market size was worth more than USD 1 billion in 2022 and is anticipated to record over 10.5% CAGR from 2023-2032. Increasing prevalence of diabetes will accelerate industry growth.

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Increasing number of limb amputation procedures performed worldwide is expected to drive the demand for robotic prosthetics. The growing need for limb amputation can be attributed to the rising prevalence of diabetes in developed and developing countries, driven by unhealthy dietary habits, and sedentary lifestyles. As per the National Diabetes Foot Care Audit (NDFA), nearly 60,000 diabetic patients in England suffer from diabetic foot ulceration (DFU). Diabetes-related health complications, such as poor blood circulation and nerve damage are one of the leading causes of ulcers and peripheral artery disease, necessitating advanced limb amputation procedures and implants, subsequently helping the industry growth.

Robotic Prosthetics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Robotic Prosthetics Market Size in 2022:	USD 1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10.5%
2032 Value Projection:	USD 2.8 Billion
Historical Data for:	2018 to 2022
No. of Pages:	210
Tables, Charts & Figures:	573
Segments covered:	Technology, Extremity, End-use, and Region
Growth Drivers:	Rise in the number of limb amputation procedures Technological advancements Increasing prevalence of peripheral vascular disease and other chronic conditions Rising number of accident injuries & trauma cases
Pitfalls & Challenges:	High cost of devices Stringent regulatory scenario

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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for robotic prosthetics was worth more than USD 1 billion in 2022 and is projected to record more than 10.5% CAGR from 2023-2032.

Microprocessor-controlled (MPC) prosthetics reached over USD 782 million in 2022 due to advancements in smart limbs and knee prosthetics.

Europe robotic prosthetics market size is poised to surpass USD 945 million by 2032 owing to presence of favorable government initiatives for boosting innovation in robotic prosthetics.

Ossur, Psyonic, Mobius Bionics, Axile Bionics, Proteor, RSL Steeper, Brain Robotics, ProtUnics, Motorica, Myomo are some of the key manufacturers of robotic prosthetics.