North America Robotic Prosthetics Market

North America Robotic Prosthetics Market Size & Growth (2023 to 2028):

As per the research report, the size of the North America Robotic Prosthetics market is valued at USD 320 million in 2023. It is projected to be around USD 504 million by 2028 at a CAGR of 9.51%.

The surge in amputation cases within North America is one of the major factors propelling the growth of the robotic prosthetics market in North America. The rising prevalence of diabetes is a pivotal contributor to amputation rates that necessitate the utilization of robotic prosthetics. Diabetes-related complications, particularly diabetic foot ulcers, can prompt leg amputations due to infection risks. Notably, approximately 2 million Americans suffer from diabetic foot ulcers annually, with a subset of 5 percent facing limb loss. This situation underscores the role of robotic prosthetics in enhancing the quality of life for affected individuals. Limb amputations arising from accidents, cardiovascular diseases, tumors, and congenital anomalies, further contribute to the demand for robotic prosthetics. This advanced technology integrates artificial intelligence, sensorimotor functions, and control mechanisms, effectively restoring the function and appearance of amputees' missing limbs.

The growing utilization of manufacturing advancements in prosthetics contributes to the growth of the North American robotic prosthetics market. Researchers and manufacturers are concentrating their efforts on refining prosthetic products by employing diverse materials to minimize the weight of robotic prosthetics, thereby enhancing user comfort. Notably, materials like carbon fiber, titanium, and silicon find application in prosthetics development. Furthermore, algorithmic innovations are being pursued to tailor robotic prosthetics' movements to specific conditions of individuals. The growing investments in research and development, robust support from both public and private organizations and the augmented presence of key market players further supports the growth of the North American market.

The high costs associated with both robotic prosthetics products and prosthetic surgeries majorly hinder the North American market growth. The dearth of proficient professionals, limited awareness regarding robotic technology, suboptimal reimbursement policies, and protracted approval timelines for innovative devices further impede regional market growth. Maintenance complexities of robotic prosthetic devices, coupled with potential post-surgery issues like infections and itching hampers the regional market growth.

This research report on the North America 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:

• U.S
• Canada
• Rest of North America

REGIONAL ANALYSIS

North America held the leading share of the worldwide robotic prosthetics market in 2022 and is expected to capture the largest share of the global market throughout the forecast period owing to the robust technological advancements and escalating healthcare investments. The U.S. robotic prosthetics market is estimated to account for a notable share of the North American market during the forecast period owing to factors such as well-established manufacturing facilities and a growing network of clinical trial centers. Manufacturers are dedicated to creating robotic prosthetics tailored to patients' medical backgrounds. The rising incidence of chronic illnesses, growing familiarity with robotic prosthetics, and increased merger and acquisition activities further boost the growth rate of the U.S. market.

Canada is predicted to hold a considerable share of the North American market during the forecast period. The growing number of improvements in the healthcare infrastructure and the presence of specialized hospitals offering amputation and robotic prosthetic surgeries drive the Canadian market growth. The presence of a burgeoning elderly population and heightened reimbursement support for intricate surgical procedures further promote the Canadian market growth.

Companies playing a dominant role in the North America Robotic Prosthetics market profiled in this report are Shadow Robot Company (UK), Touch Bionics (UK), Ossur (America), HDT Global (USA), Endolite (USA), Syn Touch Inc (Los Angeles), Irobot (U.S.A), Northrope Grumman (U.S.A), Qbotix (U.S.A), Prox Dynamics (U.S.A).