PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1525302
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1525302
Global Motorized Prosthesis Market Size study, by Type (Passive, Active, Hybrid), by End-user (Hospitals, Prosthetic Clinics, Rehabilitation Centers, Others) and Regional Forecasts 2022-2032
The Global Motorized Prosthesis Market is valued approximately at USD 71.61 million in 2023 and is anticipated to grow with a healthy growth rate of more than 11.31% over the forecast period 2024-2032. Motorized prosthesis represents an advanced technology designed to integrate with the nervous system, enabling the operation of replacement body parts via a controller. This innovation enhances compatibility between the patient's neural and muscular systems, providing improved functionality and comfort. The motorized prosthesis market is poised for significant growth due to the increasing demand for advanced prosthetic devices. The rise in amputations, growing awareness about the benefits of motorized prostheses, and the availability of advanced technologies are key factors driving market growth. Moreover, initiatives by governments and non-profit organizations to provide financial assistance for prosthetic devices further support market expansion.
The demand for motorized prostheses is rising significantly due to the increasing prevalence of amputations caused by factors such as road accidents, diabetes-related complications, and various medical conditions. These conditions often necessitate the use of advanced prosthetic solutions that can restore mobility and functionality to amputees. Motorized prostheses, equipped with integrated motors and sensors, offer enhanced mobility, natural movement, and improved quality of life compared to traditional prosthetics. The growing adoption of technologically advanced prosthetic devices is driven by innovations in robotics, materials science, and biomedical engineering, which continue to improve the performance and comfort of motorized prostheses. As healthcare providers and prosthetic manufacturers focus on meeting the evolving needs of amputees, the motorized prostheses market is expected to expand further to cater to a growing population of individuals requiring sophisticated and adaptive limb replacements. However, the weight and durability challenges of motorized prostheses pose limitations, as these devices often require additional components such as motors and batteries, which can add weight and complexity, leading to potential breakage and decreased longevity.
Key regions considered for the global motorized prosthesis market study include Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. In 2023, North America dominates the market due to technological advancements and increased R&D expenditures supporting affected patients. The region leads in technological advancements and innovation in healthcare and prosthetics, supported by extensive research and development initiatives. North America benefits from a robust healthcare infrastructure and a high prevalence of conditions such as limb loss due to diabetes, trauma, and military injuries, driving the demand for advanced prosthetic solutions. Moreover, the region hosts leading prosthetic manufacturers and healthcare providers specializing in motorized prostheses. These companies leverage cutting-edge technologies like robotics, artificial intelligence, and advanced materials to develop prosthetic devices that offer improved mobility, functionality, and comfort for users. Furthermore, the market in Asia Pacific is expected to grow at the fastest rate over the forecast period.
The major players included in the report are:
- Arm Dynamics
- BionX Medical Technologies, Inc.
- Faulhaber Group
- Freedom Innovations, LLC
- Mobius Bionics LLC
- Ossur hf.
- Otto Bock HealthCare GmbH
- Touch Bionics Inc.
- Integrum AB
- Hanger Inc.
The detailed segments and sub-segment of the market are explained below:
By Type:
- Passive
- Active
- Hybrid
By End-user:
- Hospitals
- Prosthetic Clinics
- Rehabilitation Centers
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Motorized Prosthesis Market Executive Summary
- 1.1. Global Motorized Prosthesis Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By End-user
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Motorized Prosthesis Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Motorized Prosthesis Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increasing Prevalence of Amputations
- 3.1.2. Technological Advancements in Prosthetic Devices
- 3.2. Market Challenges
- 3.2.1. Weight and Durability Issues
- 3.2.2. High Costs of Advanced Prosthetic Devices
- 3.3. Market Opportunities
- 3.3.1. Rise in Awareness and Government Initiatives
- 3.3.2. Surge in Availability of Advanced Prosthetic Technologies
Chapter 4. Global Motorized Prosthesis Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Motorized Prosthesis Market Size & Forecasts by Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Motorized Prosthesis Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. Passive
- 5.2.2. Active
- 5.2.3. Hybrid
Chapter 6. Global Motorized Prosthesis Market Size & Forecasts by End-user 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Motorized Prosthesis Market: End-user Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Hospitals
- 6.2.2. Prosthetic Clinics
- 6.2.3. Rehabilitation Centers
- 6.2.4. Others
Chapter 7. Global Motorized Prosthesis Market Size & Forecasts by Region 2022-2032
- 7.1. North America Motorized Prosthesis Market
- 7.1.1. U.S. Motorized Prosthesis Market
- 7.1.1.1. Type breakdown size & forecasts, 2022-2032
- 7.1.1.2. End-user breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Motorized Prosthesis Market
- 7.1.1. U.S. Motorized Prosthesis Market
- 7.2. Europe Motorized Prosthesis Market
- 7.2.1. U.K. Motorized Prosthesis Market
- 7.2.2. Germany Motorized Prosthesis Market
- 7.2.3. France Motorized Prosthesis Market
- 7.2.4. Spain Motorized Prosthesis Market
- 7.2.5. Italy Motorized Prosthesis Market
- 7.2.6. Rest of Europe Motorized Prosthesis Market
- 7.3. Asia-Pacific Motorized Prosthesis Market
- 7.3.1. China Motorized Prosthesis Market
- 7.3.2. India Motorized Prosthesis Market
- 7.3.3. Japan Motorized Prosthesis Market
- 7.3.4. Australia Motorized Prosthesis Market
- 7.3.5. South Korea Motorized Prosthesis Market
- 7.3.6. Rest of Asia Pacific Motorized Prosthesis Market
- 7.4. Latin America Motorized Prosthesis Market
- 7.4.1. Brazil Motorized Prosthesis Market
- 7.4.2. Mexico Motorized Prosthesis Market
- 7.4.3. Rest of Latin America Motorized Prosthesis Market
- 7.5. Middle East & Africa Motorized Prosthesis Market
- 7.5.1. Saudi Arabia Motorized Prosthesis Market
- 7.5.2. South Africa Motorized Prosthesis Market
- 7.5.3. Rest of Middle East & Africa Motorized Prosthesis Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. Arm Dynamics
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Market Strategies
- 8.3.2. BionX Medical Technologies, Inc.
- 8.3.3. Faulhaber Group
- 8.3.4. Freedom Innovations, LLC
- 8.3.5. Mobius Bionics LLC
- 8.3.6. Ossur hf.
- 8.3.7. Otto Bock HealthCare GmbH
- 8.3.8. Touch Bionics Inc.
- 8.3.9. Integrum AB
- 8.3.10. Hanger Inc.
- 8.3.1. Arm Dynamics
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
