A term prosthetic refers to the replacement of any part of the body such as hip, ankle, and tooth by artificial means. A typical prosthesis can be designed for both cosmetic as well as functional reason. The robotic prosthetics is also similar to that works on similar phenomenon. A robotic prosthetic is a artificial limb which makes person's work and function easy and acts as the substitute for a missing body part. Robotics prosthetics are used to restore the normal body functions. These actions and functions are controlled by computers, Bluetooth as well as a advanced technology.
MARKET SCOPE
The "Global Advanced Robotic Prosthetic Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the advanced robotic prosthetic market with detailed market segmentation by product, technology, application, end user and geography. The report provides key statistics on the market status of the leading advanced robotic prosthetic market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of product, the market is segmented into prosthetic arms, prosthetic feet/ankles, prosthetic legs/knees, prosthetic hands, and others.
- Based on technology, the market is bifurcated into prosthetic foot materials, bluetooth, microprocessor knees, myoelectric technology, and others.
- Based on application, the market is bifurcated into lower body extremity and upper body extremity.
- Based on end user, the market is bifurcated into hospitals, clinics, and others.
MARKET DYNAMICS
Drivers:
- Rising prevalence of orthopedic disorders.
- Rising geriatric population across the globe.
- Technological advancements in healthcare systems.
- Growing awareness among people for modern treatment options
Restraints:
- Expensive treatment and poor reimbursement policies.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The advanced robotic prosthetic market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the advanced robotic prosthetic market in these regions.
IMPACT OF COVID-19 ON ADVANCED ROBOTIC PROSTHETIC MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. Advanced robotic prosthetic market is moderately affected due to COVID-19.
MARKET PLAYERS
The report covers key developments in the advanced robotic prosthetic market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from advanced robotic prosthetic market are anticipated to lucrative growth opportunities in the future with the rising demand for advanced robotic prosthetic in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the advanced robotic prosthetic market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- HDT Global
- Shadow Robot Company
- SynTouch Inc
- Ottobock
- Touch Bionics, Inc
- ReWalk Robotics
- Stryker Corporation
- Smith and Nephew
- Medrobotics corporation
- Hansen Medical, Inc