Global Robotic Prosthetic Market - 2021-2028

Global Robotic Prosthetic Market - 2021-2028

Market Overview

The Global ""Robotic Prosthetic Market"" is Expected to reach at a CAGR of 8.9 % during the forecast period (2021-2028).

Robotic prosthesis control is a method of controlling a prosthesis so that the controlled robotic prosthesis restores a person with a limb loss to a biologically accurate gait. This subset of control focuses on the interaction between humans and robotics.

Market Dynamics

The factors influencing the global robotic prosthetic market are the increasing technological advancements and the increasing number of amputation cases.

The increasing technological advancements are expected to drive the market growth

Recent technological and surgical advancements have begun to shape prosthetic design and the lives of those who wear them. Nonetheless, despite centuries of effort toward the development of artificial limbs, the development of a device whose function closely resembles that of a biological extremity is far from complete. Myoelectric sensors, osseointegration, augmented reality, and targeted muscle reinnervation (TMR) may hold the key to multi-functional, self-identifiable, durable, and intuitive powered prosthetics.

Powered prostheses have been around since the early, with electronic prostheses first appearing near the end of WWII. To control the device, body-powered prostheses use cables or harnesses that capture the motion of more proximal joints. On the other hand, Myoelectric prostheses convert electromyographic (EMG) signals into a specific preprogrammed function from an activated muscle or muscle group. Myoelectric devices rely on antagonistic muscle groups to provide opposing functions in their most basic form. For instance, one muscle or muscle group sends the ""hand open"" signal, while its antagonist sends the ""hand close"" signal. These devices provide direct control sequential one-dimensional functions in which the user switches modes (typically via muscle co-contractions) before initiating the next action. The goal of these emerging technologies is to develop multifunctional, self-identifiable, long-lasting, and intuitive prosthetics.

Limitations associated with robotic prosthetics is expected to hamper the market growth

According to one study, up to 74% of amputees experience skin problems due to their prosthetic wear. Sometimes these are minor and do not affect the use, but they frequently progress higher if the underlying cause is not addressed. Few things in life are more aggravating than back pain. Walking with an ill-fitting prosthesis or poor gait habits can result in long-term structural changes in the body, resulting in muscular pain and, eventually, long-term neurological pain. Most prosthesis users will experience back pain due to compensating for the loss of a limb at some point. Although the scientific community has widely accepted the use of robotic prosthetic limbs, amputees have faced several disadvantages, including weight gain, intricate and frequent maintenance, and noisy actuation coupled with an unreliable control system due to poor signal acquisition and processing.

Novel techniques proposed, such as pattern recognition for feature extraction and machine learning for robustness, adaptability, and stability, were based on simulations in software such as Autodesk, OpenSim, or Matlab, resulting in limited prototypes and hardware developments, limiting the technologies' clinical applicability. Even now, the physically challenged regard permanent assistive devices as separate, lifeless mechanisms rather than an intimate structural, neurological, and dynamic extension of the human body.

COVID-19 Impact Analysis

The global pandemic of coronavirus disease 2019 (COVID-19) emerged quickly, putting significant strain on existing healthcare resources. A relative shortage of personal protective equipment (PPE) due to increased COVID-19 patients strained the system, as did a rate of 20% to 30% cross-infection of health care workers (HCWs) and subsequent deaths. Robotics holds the promise of automating many tasks in health care. The majority of health care robotics used in hospitals is in the operating room, where robots perform complex or minimally invasive surgery alongside nearby surgeons (e.g., da Vinci surgical system, Mazor guidance system).

During the pandemic, robots are widely suggested to be deployed in various scenarios to help reduce infection by performing disinfection, monitoring, delivering, food preparation, and telepresence. Robots are also advised to make intelligent decisions based on population input data that AI can analyze. Various intelligent robots for emergency prevention and control in complex conditions have emerged due to the advancement of robots and AI technologies. They have played pivotal roles in disease prevention and control, diagnosis, treatment, and nursing. Hence, the global robotic prosthetic market is expected to grow in the forecast period.

Segment Analysis

Myoelectric prosthetics segment is expected to dominate the market growth

A myoelectric-controlled prosthesis is an artificial limb powered externally and controlled by electrical signals generated naturally by muscles. Myoelectric components for the hand, wrist, and elbow are available. Myoelectric-controlled prostheses provide the best combination of function and natural appearance for upper-limb amputees. Electronic components, designed to mimic human anatomy and motion, are the closest substitute for an anatomical hand or arm. The term ""myoelectric"" refers to the electric properties of muscles.

When amputations above the elbow occur, a ""hybrid prosthesis"" may be used to control shoulder and elbow function by combining myoelectric-controlled components with body-powered components. A skin-like glove covers the prosthesis for a more natural appearance. The existing muscles in your residual limb are used to control the functions of a myoelectric prosthesis. Even though a myoelectric prosthesis is controlled by natural electricity generated by one's muscles, the system requires a battery to power motors and electronics, and batteries must be charged. Some batteries must be removed from the prosthesis to be charged. Others allow a charging unit cord to be plugged into the prosthesis. Furthermore, an increasing number of R&D initiatives by key players and new product launches utilizing this technology are expected to drive the market during the forecast period. For instance, on April 4th, 2018, with the help of 3-D printing technology, a private firm in India is producing high-tech customized prosthetics for amputees at half the cost of imported ones, which can cost up to 1.5 lakh rupees. In addition to offering an alternative to imported prosthetic hands, the company is launching an indigenously developed myoelectric prosthetic hand with thumb rotation and functions such as object gripping.

Geographical Analysis

North America region is expected to hold the largest market share in the global robotic prosthetic market

Some of the key drivers responsible for driving the market in this region are high penetration of technologically advanced products, high healthcare expenditure, improvements in robotics sectors, and favorable government initiatives to support robotic technology. Furthermore, various initiatives launched by government bodies to prevent amputations in the region are expected to drive the market over the forecast period. The presence of key players in this region is expected to drive the market. For instance, Sarcos Robotics is based in the United States to design, develop, and deploy highly mobile robots that combine human intelligence with robotic strength. It is a robotics company that creates wearable and teleoperated industrial robotics to increase user safety and productivity. The company equips the future workforce with agile robotic systems to prevent injuries, save lives, and open up new possibilities. The company has received approximately $96.1 million in funding. The company manufactures Guardian XO full-body exoskeleton is the world's first battery-powered industrial robot, combining human intelligence, instinct, and judgment with machine strength, endurance, and precision.

Competitive Landscape

The global robotic prosthetic market is highly competitive with mergers, collaborations, and product launches. Some of the key players are HDT Global; Ottobock; EndoliteSynTouch, Inc.; Touch Bionics, Inc.; Shadow Robot Company; and Össur Americas, ReWalk Robotics, Mobius Bionics, Ekso Bionics, Open Bionics

HDT Global

Overview: A global leader in developing and producing highly engineered integrated expeditionary products and solutions for military, government, industrial, and commercial customers. The company was founded in 1937.

Product Portfolio: Many advanced prosthetic arms were developed for the Defense Advanced Research Projects Agency (DARPA), the United States' premier agency for funding ground-breaking advanced technologies. HDT developed the world's most advanced prosthetic arm and hand for DARPA's Revolutionizing Prosthetics Program.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Robotic Prosthetic Market- By Product

Prosthetic Arms

Prosthetic Feet/Ankles

Prosthetic Hands

Others

Global Robotic Prosthetic Market-By Technology

Myoelectric Prosthetics

MPC Prosthetics

Other

Global Robotic Prosthetic Market- By End User

Hospitals

Clinics

Other

Global Robotic Prosthetic Market- By Region

North America

Europe

South America

Asia Pacific

Middle East and Africa