The Global Motorized Prosthesis Market size is expected to reach $98.2 Million by 2028, rising at a market growth of 10.7% CAGR during the forecast period.
An artificial medical device known as a motorized prosthesis replaces missing body parts lost due to congenital conditions, accidents, or numerous other disorders. Neuroscience and biomedical engineering are combined in motorized prosthesis. The motorized prosthesis uses muscle innervation and brain-computer interface technologies to restore the biological function of lost body parts. A complex network of motor and cognitive modalities makes up a motorized prosthesis.
These tools assist autonomous nervous system operations, including bladder control tools. Researchers are now working to build motorized prosthetics. Road accidents, diabetes, and other illnesses are rising, which is why amputations are becoming more common. In addition, technological progress has made it possible to create more complex prosthetics that are both pleasant and useful. The rising demand for prosthetic devices is also fueled by a greater understanding of their advantages and a rise in their affordability.
The market for motorized prosthesis is anticipated to expand dramatically over the following years as demand for cutting-edge prosthetic devices rises. Amputations are becoming more common, people are becoming more aware of the advantages of motorized prosthesis, and more sophisticated prosthetic technologies are available than ever. These are some of the key drivers fueling the market's expansion. In addition, the market is anticipated to be driven by a growth in the number of initiatives launched by governments and non-profit organizations to provide financial aid for purchasing prosthetic devices.
The adoption of the motorized prosthesis results from updated medical equipment and increasing governmental and private sector investment in the healthcare industry. Motorized and electric arm prosthesis aid in the treatment of afflicted individuals. One of the recent minor advancements in sophisticated healthcare systems is this.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ossur Hf, Otto bock SE & Co. KGaA, Hanger, Inc. (Patient Square Capital), Advanced Arm Dynamics, Inc., Bionic Prosthetics & Orthotics Group LLC, Integrum AB, Dr. Fritz Faulhaber GmbH & Co. KG, and Sensars Neuroprosthetics.
An artificial medical device known as a motorized prosthesis replaces missing body parts lost due to congenital conditions, accidents, or numerous other disorders. Neuroscience and biomedical engineering are combined in motorized prosthesis. The motorized prosthesis uses muscle innervation and brain-computer interface technologies to restore the biological function of lost body parts. A complex network of motor and cognitive modalities makes up a motorized prosthesis.
These tools assist autonomous nervous system operations, including bladder control tools. Researchers are now working to build motorized prosthetics. Road accidents, diabetes, and other illnesses are rising, which is why amputations are becoming more common. In addition, technological progress has made it possible to create more complex prosthetics that are both pleasant and useful. The rising demand for prosthetic devices is also fueled by a greater understanding of their advantages and a rise in their affordability.
The market for motorized prosthesis is anticipated to expand dramatically over the following years as demand for cutting-edge prosthetic devices rises. Amputations are becoming more common, people are becoming more aware of the advantages of motorized prosthesis, and more sophisticated prosthetic technologies are available than ever. These are some of the key drivers fueling the market's expansion. In addition, the market is anticipated to be driven by a growth in the number of initiatives launched by governments and non-profit organizations to provide financial aid for purchasing prosthetic devices.
The adoption of the motorized prosthesis results from updated medical equipment and increasing governmental and private sector investment in the healthcare industry. Motorized and electric arm prosthesis aid in the treatment of afflicted individuals. One of the recent minor advancements in sophisticated healthcare systems is this.
COVID-19 Impact Analysis
The COVID-19 outbreak significantly impacted the market for a motorized prosthesis. Lockdowns and limits on movement have diminished consumer demand for these gadgets, which has slowed down both manufacture and sales. Moreover, producers now must contend with supply chain interruptions and a scarcity of raw materials. Research groups involved in life science R&D were compelled to handle their investigations with constrained resources since they needed help accessing raw materials. The pandemic also affected the world economy, which decreased funding for R&D.Market Growth Factors
Global rise in amputations cases
Today's rise in amputees is brought on by chronic conditions like cancer and diabetes, in addition to an increase in accidents throughout the globe. Trauma is the most frequent cause of amputation, followed by chronic illnesses. More people have lower limb amputations than upper limb amputations. The risk of amputation has grown over the last several years due to an increase in those with diabetes and cancer. With the growth in the incidence of these illnesses, these numbers are anticipated to climb even more. Motorized prostheses are used to replace a missing body part, such as an upper or lower limb.Rising traffic-related deaths
WHO reports that by 2030, the UN General Assembly hopes to have cut the number of people killed and injured in traffic accidents worldwide in half. For children and young people aged 5 to 29 years, fatal road accidents are the main cause of mortality. An estimated 1.3 million individuals each year pass away in automobile accidents. Pedestrians, cyclists, and motorcyclists make up more than half of all road traffic fatalities. Even though low- and middle-income nations have around 60% of the world's automobiles, they account for 93% of all traffic deaths.Market Restraining Factor
Low awareness and high cost in developing countries.
The high cost of these devices may constrain the expansion of the motorized prosthesis market during the projected period. Despite a considerable demand for these products, the exorbitant price of these prosthetics is a significant obstacle. A motorized prosthesis is prescribed by an orthotist or prosthetist based on the patient's unique needs. According to their complexity and degree of development, these gadgets cost more money. In addition, the lower demand for such devices in emerging countries may also constrain the expansion of the motorized prosthesis market.Type Outlook
Based on type, the motorized prothesis market is bifurcated into passive, active, and hybrid. The active segment covered a considerable revenue share in the motorized prothesis market in 2021. Active prosthesis employs motors to provide the user with external power. Compared to passive prosthesis, these devices often provide greater functioning features. In addition, these gadgets are portable and feature effective control methods for various locomotor activities. Those who have upper limb weakness often utilize active prosthesis. Children and recent amputees are often given a passive prosthesis, which is quite simple to operate.
End - User Outlook
By end-user, the motorized prothesis market is segmented into hospitals, prosthetic clinics, rehabilitation centers and others. The hospital segment held the highest revenue share in the motorized prothesis market in 2021. Among end-user segments, the hospital segment is anticipated to grow throughout the forecasted period. The need for surgical operations has supported the segment's rise over the years as a result of the rising incidence of medical illnesses like diabetes, which has a significant negative impact on the lower part of the human body.Regional Outlook
Region wise, the motorized prothesis market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed the largest revenue share in the motorized prothesis market in 2021. The market for motorized prosthesis is growing because to technological advancements and more R&D spending to assist afflicted patients. A sizeable share of the motorized prosthesis market is consumed by Organizations dedicated to enhancing the lives of people with disabilities. The growth of the IT and healthcare infrastructures propels the market for motorized prosthesis.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ossur Hf, Otto bock SE & Co. KGaA, Hanger, Inc. (Patient Square Capital), Advanced Arm Dynamics, Inc., Bionic Prosthetics & Orthotics Group LLC, Integrum AB, Dr. Fritz Faulhaber GmbH & Co. KG, and Sensars Neuroprosthetics.
Scope of the Study
By End-user
- Hospitals
- Prosthetic Clinics
- Rehabilitation Centres
- Others
By Type
- Passive
- Active
- Hybrid
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Ossur Hf
- Ottobock SE & Co. KGaA
- Hanger, Inc. (Patient Square Capital)
- Advanced Arm Dynamics, Inc.
- Bionic Prosthetics & Orthotics Group LLC
- Integrum AB
- Dr. Fritz Faulhaber GmbH & Co. KG
- Sensars Neuroprosthetics
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Motorized Prosthesis Market, by End User
1.4.2 Global Motorized Prosthesis Market, by Type
1.4.3 Global Motorized Prosthesis Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Motorized Prosthesis Market by End User
3.1 Global Hospitals Market by Region
3.2 Global Prosthetic Clinics Market by Region
3.3 Global Rehabilitation Centers Market by Region
3.4 Global Others Market by Region
Chapter 4. Global Motorized Prosthesis Market by Type
4.1 Global Passive Market by Region
4.2 Global Active Market by Region
4.3 Global Hybrid Market by Region
Chapter 5. Global Motorized Prosthesis Market by Region
5.1 North America Motorized Prosthesis Market
5.1.1 North America Motorized Prosthesis Market by End User
5.1.1.1 North America Hospitals Market by Country
5.1.1.2 North America Prosthetic Clinics Market by Country
5.1.1.3 North America Rehabilitation Centers Market by Country
5.1.1.4 North America Others Market by Country
5.1.2 North America Motorized Prosthesis Market by Type
5.1.2.1 North America Passive Market by Country
5.1.2.2 North America Active Market by Country
5.1.2.3 North America Hybrid Market by Country
5.1.3 North America Motorized Prosthesis Market by Country
5.1.3.1 US Motorized Prosthesis Market
5.1.3.1.1 US Motorized Prosthesis Market by End User
5.1.3.1.2 US Motorized Prosthesis Market by Type
5.1.3.2 Canada Motorized Prosthesis Market
5.1.3.2.1 Canada Motorized Prosthesis Market by End User
5.1.3.2.2 Canada Motorized Prosthesis Market by Type
5.1.3.3 Mexico Motorized Prosthesis Market
5.1.3.3.1 Mexico Motorized Prosthesis Market by End User
5.1.3.3.2 Mexico Motorized Prosthesis Market by Type
5.1.3.4 Rest of North America Motorized Prosthesis Market
5.1.3.4.1 Rest of North America Motorized Prosthesis Market by End User
5.1.3.4.2 Rest of North America Motorized Prosthesis Market by Type
5.2 Europe Motorized Prosthesis Market
5.2.1 Europe Motorized Prosthesis Market by End User
5.2.1.1 Europe Hospitals Market by Country
5.2.1.2 Europe Prosthetic Clinics Market by Country
5.2.1.3 Europe Rehabilitation Centers Market by Country
5.2.1.4 Europe Others Market by Country
5.2.2 Europe Motorized Prosthesis Market by Type
5.2.2.1 Europe Passive Market by Country
5.2.2.2 Europe Active Market by Country
5.2.2.3 Europe Hybrid Market by Country
5.2.3 Europe Motorized Prosthesis Market by Country
5.2.3.1 Germany Motorized Prosthesis Market
5.2.3.1.1 Germany Motorized Prosthesis Market by End User
5.2.3.1.2 Germany Motorized Prosthesis Market by Type
5.2.3.2 UK Motorized Prosthesis Market
5.2.3.2.1 UK Motorized Prosthesis Market by End User
5.2.3.2.2 UK Motorized Prosthesis Market by Type
5.2.3.3 France Motorized Prosthesis Market
5.2.3.3.1 France Motorized Prosthesis Market by End User
5.2.3.3.2 France Motorized Prosthesis Market by Type
5.2.3.4 Russia Motorized Prosthesis Market
5.2.3.4.1 Russia Motorized Prosthesis Market by End User
5.2.3.4.2 Russia Motorized Prosthesis Market by Type
5.2.3.5 Spain Motorized Prosthesis Market
5.2.3.5.1 Spain Motorized Prosthesis Market by End User
5.2.3.5.2 Spain Motorized Prosthesis Market by Type
5.2.3.6 Italy Motorized Prosthesis Market
5.2.3.6.1 Italy Motorized Prosthesis Market by End User
5.2.3.6.2 Italy Motorized Prosthesis Market by Type
5.2.3.7 Rest of Europe Motorized Prosthesis Market
5.2.3.7.1 Rest of Europe Motorized Prosthesis Market by End User
5.2.3.7.2 Rest of Europe Motorized Prosthesis Market by Type
5.3 Asia Pacific Motorized Prosthesis Market
5.3.1 Asia Pacific Motorized Prosthesis Market by End User
5.3.1.1 Asia Pacific Hospitals Market by Country
5.3.1.2 Asia Pacific Prosthetic Clinics Market by Country
5.3.1.3 Asia Pacific Rehabilitation Centers Market by Country
5.3.1.4 Asia Pacific Others Market by Country
5.3.2 Asia Pacific Motorized Prosthesis Market by Type
5.3.2.1 Asia Pacific Passive Market by Country
5.3.2.2 Asia Pacific Active Market by Country
5.3.2.3 Asia Pacific Hybrid Market by Country
5.3.3 Asia Pacific Motorized Prosthesis Market by Country
5.3.3.1 China Motorized Prosthesis Market
5.3.3.1.1 China Motorized Prosthesis Market by End User
5.3.3.1.2 China Motorized Prosthesis Market by Type
5.3.3.2 Japan Motorized Prosthesis Market
5.3.3.2.1 Japan Motorized Prosthesis Market by End User
5.3.3.2.2 Japan Motorized Prosthesis Market by Type
5.3.3.3 India Motorized Prosthesis Market
5.3.3.3.1 India Motorized Prosthesis Market by End User
5.3.3.3.2 India Motorized Prosthesis Market by Type
5.3.3.4 Australia Motorized Prosthesis Market
5.3.3.4.1 Australia Motorized Prosthesis Market by End User
5.3.3.4.2 Australia Motorized Prosthesis Market by Type
5.3.3.5 South Korea Motorized Prosthesis Market
5.3.3.5.1 South Korea Motorized Prosthesis Market by End User
5.3.3.5.2 South Korea Motorized Prosthesis Market by Type
5.3.3.6 Singapore Motorized Prosthesis Market
5.3.3.6.1 Singapore Motorized Prosthesis Market by End User
5.3.3.6.2 Singapore Motorized Prosthesis Market by Type
5.3.3.7 Rest of Asia Pacific Motorized Prosthesis Market
5.3.3.7.1 Rest of Asia Pacific Motorized Prosthesis Market by End User
5.3.3.7.2 Rest of Asia Pacific Motorized Prosthesis Market by Type
5.4 LAMEA Motorized Prosthesis Market
5.4.1 LAMEA Motorized Prosthesis Market by End User
5.4.1.1 LAMEA Hospitals Market by Country
5.4.1.2 LAMEA Prosthetic Clinics Market by Country
5.4.1.3 LAMEA Rehabilitation Centers Market by Country
5.4.1.4 LAMEA Others Market by Country
5.4.2 LAMEA Motorized Prosthesis Market by Type
5.4.2.1 LAMEA Passive Market by Country
5.4.2.2 LAMEA Active Market by Country
5.4.2.3 LAMEA Hybrid Market by Country
5.4.3 LAMEA Motorized Prosthesis Market by Country
5.4.3.1 Brazil Motorized Prosthesis Market
5.4.3.1.1 Brazil Motorized Prosthesis Market by End User
5.4.3.1.2 Brazil Motorized Prosthesis Market by Type
5.4.3.2 Argentina Motorized Prosthesis Market
5.4.3.2.1 Argentina Motorized Prosthesis Market by End User
5.4.3.2.2 Argentina Motorized Prosthesis Market by Type
5.4.3.3 UAE Motorized Prosthesis Market
5.4.3.3.1 UAE Motorized Prosthesis Market by End User
5.4.3.3.2 UAE Motorized Prosthesis Market by Type
5.4.3.4 Saudi Arabia Motorized Prosthesis Market
5.4.3.4.1 Saudi Arabia Motorized Prosthesis Market by End User
5.4.3.4.2 Saudi Arabia Motorized Prosthesis Market by Type
5.4.3.5 South Africa Motorized Prosthesis Market
5.4.3.5.1 South Africa Motorized Prosthesis Market by End User
5.4.3.5.2 South Africa Motorized Prosthesis Market by Type
5.4.3.6 Nigeria Motorized Prosthesis Market
5.4.3.6.1 Nigeria Motorized Prosthesis Market by End User
5.4.3.6.2 Nigeria Motorized Prosthesis Market by Type
5.4.3.7 Rest of LAMEA Motorized Prosthesis Market
5.4.3.7.1 Rest of LAMEA Motorized Prosthesis Market by End User
5.4.3.7.2 Rest of LAMEA Motorized Prosthesis Market by Type
Chapter 6. Company Profiles
6.1 Integrum AB
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Regional Analysis
6.1.4 Recent strategies and developments:
6.1.4.1 Partnerships, Collaborations, and Agreements:
6.1.4.2 Trials and Approvals:
6.2 Hanger, Inc. (Patient Square Capital, L.P.)
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental Analysis
6.2.4 Recent strategies and developments:
6.2.4.1 Product Launches and Product Expansions:
6.3 Ossur Hf.
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Segmental and Regional Analysis
6.3.4 Research & Development Expense
6.3.5 Recent strategies and developments:
6.3.5.1 Acquisition and Mergers:
6.4 Ottobock SE & Co. KGaA
6.4.1 Company Overview
6.4.2 Recent strategies and developments:
6.4.2.1 Acquisition and Mergers:
6.5 Advanced Arm Dynamics, Inc.
6.5.1 Company Overview
6.6 Bionic Prosthetics & Orthotics Group LLC
6.6.1 Company Overview
6.7 SensArs Neuroprosthetics Sàrl
6.7.1 Company Overview
6.8 Dr. Fritz Faulhaber GmbH & Co. KG
6.8.1 Company Overview
Companies Mentioned
- Ossur Hf
- Ottobock SE & Co. KGaA
- Hanger, Inc. (Patient Square Capital)
- Advanced Arm Dynamics, Inc.
- Bionic Prosthetics & Orthotics Group LLC
- Integrum AB
- Dr. Fritz Faulhaber GmbH & Co. KG
- Sensars Neuroprosthetics
Methodology
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