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Global Robotic Prosthetic Market - Technologies, Market share and Industry Forecast to 2024

ReportBuyer
Posted on: 05 Oct 18
Global Robotic Prosthetic Market - Technologies, Market share and Industry Forecast to 2024

PR Newswire

LONDON, Oct. 4, 2018

LONDON, Oct. 4, 2018 /PRNewswire/ -- Robotics prosthetics are artificial systems and devices that replaces a missing part of the human body through the interaction between humans and robotics.

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The global robotic prosthetic market is expected to rise with the CAGR of about 9.50% during the forecast period 2017-2024. Supportive government initiatives for the adoption of prosthetics is one of the major factors that contribute towards the growth of global robotic prosthetics market during the forecast period. However, poor reimbursement policies in the developing regions is one of the major factor restraining the growth of global robotic prosthetics market during the forecast period.

Geographically, the global robotic prosthetics market report has been segmented into North America, Asia Pacific, Europe, and Rest of the World. North America is expected to dominate the market during the forecast period due to increasing healthcare expenditure, favorable government initiatives regarding robotic technology, etc. However, Asia Pacific is expected to be the fastest growing region in the market owing to its rapidly increasing geriatric population, improving healthcare infrastructure in emerging economies.

The growth in the global robotic prosthetics market is also influenced by the presence of major players such as HDT Global, Inc. (United States), Smith & Nephew (United Kingdom), Stryker Corporation (United States), Touch Bionics Inc. (United Kingdom), Hansen Medical, Inc. (United States), etc. In order to gain competitive advantage, the major players of the market are adopting various strategies such as mergers & acquisitions, product launch, strategic partnership, collaboration, joint ventures, investment, strategic expansion, funding etc.

The report on the global robotics prosthetics market is segmented on the basis of product, technology, application, and end user. Product segment of the market is further sub divided as prosthetic arms, prosthetic feet/ ankles, prosthetic legs/ knees, prosthetic hands, and other products. The technology segment of the market further segmented as microprocessor knees, prosthetic foot materials, myoelectric technology, Bluetooth and other technologies. The application segment is sub divided as lower body extremity and upper body extremity. End user segment includes hospitals, clinics, and other end users. Lower body extremity is expected to dominate the global robotics prosthetics market during the forecast period due to high number of lower body amputation cases across the globe, large commercial presence, etc.

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View original content:http://www.prnewswire.com/news-releases/global-robotic-prosthetic-market---technologies-market-share-and-industry-forecast-to-2024-300724741.html

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PR Newswire
www.prnewswire.com

Last updated on: 05/10/2018

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