Robotic Prosthetics Market Size, By Technology (Microprocessor-controlled (MPC) Prosthetics, Myoelectric Prosthetics), By Extremity (Upper Body Prosthetics {Prosthetic Arm, Prosthetic Hand}, Lower Body Prosthetics {Prosthetic Knee, Prosthetic Ankle}), By

Robotic Prosthetics Market Size, By Technology (Microprocessor-controlled (MPC) Prosthetics, Myoelectric Prosthetics), By Extremity (Upper Body Prosthetics {Prosthetic Arm, Prosthetic Hand}, Lower Body Prosthetics {Prosthetic Knee, Prosthetic Ankle}), By End-use (Hospitals, Specialty Clinics), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Robotic Prosthetics Market is set to witness significant expansion between 2023 and 2032, primarily owing to the increasing awareness about novel technology and rising adoption of technically advanced solutions in the healthcare and medical sector. Besides, the increasing life-threatening conditions such as neuropathy, diabetes, vascular disease, and trauma will also proliferate the robotic prosthetics market growth. According to the World Health Organization, there are approximately 422 million diabetic patients in the world. The report also claims that around 1.5 million deaths every year are directly related to it. Overall, the robotic prosthetics market has been segmented in terms of technology, extremity, end-use, and region. In terms of technology, the myoelectric prosthetics segment is set to witness robust growth through 2032. The segmental growth can be attributed to the increasing cases of arm amputation. For instance, in the USA, around 41,000 patients undergo upper limb amputation each year, which accounts for around 3% of the total number of amputations, performed in the country. Besides, an increasing number of accidents, mind-controlled humonics, and tech innovations in myoelectric prosthetic devices are anticipated to increase product adoption during the next decade. On the basis of the extremity, the market is likely to be characterized by the upper body prosthetics segment, which will grow robustly by 2032. Upper body prosthetics comprise prosthetic hands, prosthetic arms, and others. The increasing adoption of these components can be attributed to physical conditions such as diabetes, vascular diseases, and trauma. In addition, noticeable advantages of prosthetic arms such as improved reintegration, better controllability, restoration of sensation, and incarnation of the artificial limb will also foster market demand in the next ten years. In the context of end-use, the other segment is anticipated to be valued at more than USD 380 million by 2032. Other end-users mainly include ambulatory surgical centers and prosthetic clinics. The expanding healthcare sector across the globe will drive the market demand during the foreseeable timeframe. In the regional context, the North America robotic prosthetics market held more than 43% in 2022 and will further expand through 2032. The regional market growth can be accredited to the increasing cases of PAD (peripheral artery disease) and diabetic neuropathy in the region, which, quite often leads to amputations. For instance, reports claim that in the United States, around 6.5 million people who are around 40 or older, are currently suffering from PAD.