APAC Robotic Prosthetics Market

APAC Robotic Prosthetics Market Size (2023 to 2028):

The size of the APAC robotic prosthetics market is forecasted to be growing at a CAGR of 11.9% during the forecast period. This market is estimated to worth USD 341 million by 2028 from USD 194 million in 2023.

The growing number of amputation cases, advances in robotics, technological advancements in the robotic realm, and initiatives by government and nonprofit organizations, such as the Centers for Disease Control (CDC) and the Amputee Coalition, to facilitate funding and purchases of prosthetic devices for the amputee population, are all driving this market. The process of replacing lost or amputated body parts with artificially controlled parts is known as robotic prosthetics. Prosthetics aims to restore the normal functionality of missing body parts.

These prostheses can be made by hand or with the aid of computer-aided design (CAD) software. The growing use of connection technologies like Bluetooth, microprocessor controllers, and myoelectric technology has increased the demand for such gadgets. Furthermore, advances in material sciences have led to thermoplastics and carbon fiber materials in the production of robotic amputation devices, boosting overall efficiency and lowering costs. Other factors projected to boost the market for APAC robotic prosthetics over the projected period include growing acceptance of advanced products and higher awareness of these improvements.

The market for robotic prosthetics in the APAC region is further expected to grow due to increased limb amputations due to cardiovascular disease, war victims, cancers, and congenital disabilities. A growing incidence of amputations and ulcers, diabetes, vascular disease, arthritis, and congenital disabilities that lead to amputation have raised the demand for robotic prosthetics, propelling the industry forward. Diabetes, cardiovascular disease, stroke, and obesity are all on the rise, which bodes well for market expansion. Furthermore, the market's growth is fueled by an aging population, increased frequency of fractures, increased public awareness of the utilization of innovative technologies, high healthcare expenditures, increased number of beheading instances, and technical advancements in prosthetic device production.

The high cost of robotic prosthetics and the necessity for maintenance is a major commercial limitation. Market growth is projected to be hampered in low-income due to a lack of awareness. Government reimbursement procedures that are horrible and a lack of complete awareness about these devices are two major problems limiting the growth of the APAC robotic prosthetics market.

Although recent advances in electronics have given promising technologies for prosthetic systems, creating a bionic tactile-perception system with integrated stimuli sensing and neuron-like information-processing abilities in a low-pressure environment remains challenging.

This research report on the APAC robotic prosthetics market has been segmented and sub-segmented into the following categories:

By Technology: 

• Myoelectric Technology
• Microprocessor Controlled
• Bluetooth

By-Products: 

• Prosthetic Ankles Or Feet
• Prosthetic Arms

By Application: 

• Upper Body Extremity
• Lower Body Extremity

By End Users: 

• Hospitals
• Clinics

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Regional Analysis:

Due to rapid technological advancements in the healthcare industry, Asia Pacific is expected to multiply rapidly throughout the forecast period. New technology, a high frequency of vascular illnesses, accessible availability, and the existence of major market participants are all contributing to the industry's growth in this area. The market is being driven by a growing population prone to diabetes and ulcers, ongoing robotics investments, and improved healthcare infrastructure in rising nations like India and China. Increasing demand for high-quality medical devices is expected to lead to the adoption of modern equipment, which would likely boost the market for robotic prosthetics in the region.

India and China are also potential markets in view of their rising economy and increasing disposable incomes. The huge numbers of people in need of prosthetics in these countries, which currently lie untapped, are a major driving factor for market growth in this region.

KEY MARKET PLAYERS:

Notable companies operating in the APAC robotic prosthetics market covered in this report are Shadow Robot Company, Touch Bionics, Ossur, HDT Global, Endolite, Syn Touch Inc., Irobot, Northrope Grumman, Qbotix, and Prox Dynamics.