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Intelligent Prosthetics Market

Intelligent Prosthetics Market Size, Share & Trends Analysis Distribution by Product (Upper Extremity, Lower Extremity), Distribution Channel (Hospitals, Prosthetic Clinics, Rehabilitation Centre) and Segment Forecasts, 2024-2031

Report ID : 2601 | Published : 2024-10-22 | Pages: 180 | Format: PDF/EXCEL/Power BI Dashbord

The Intelligent Prosthetics Market Size is valued at USD 835.5 Mn in 2023 and is predicted to reach USD 1,233.7 Mn by the year 2031 at an 5.2% CAGR during the forecast period for 2024-2031.

intelligent prosthetics

Intelligent prosthetics represent a groundbreaking increase in rehabilitation technology by integrating advanced AI and machine learning into traditional prosthetic design. These cutting-edge devices go beyond mere mechanical replacements, offering users with limb loss enhanced functionality and a more natural user experience. By interpreting neural signals and utilizing sophisticated sensors, intelligent prosthetics can adapt in real-time to different terrains, adjust walking speeds, and even provide sensory feedback, such as feeling pressure and temperature. This innovation not only restores physical capabilities but also fosters greater independence and integration into daily life for individuals with disabilities.

The development of intelligent prosthetics is driven by a growing demand for prosthetic devices that not only restore mobility but also improve overall quality of life. With AI-driven capabilities like predictive maintenance and personalized adaptation based on user habits, these prosthetics are poised to redefine standards in rehabilitation technology. By continuously evolving to meet user needs and expectations, intelligent prosthetics are not just functional aids but transformative tools that empower individuals to engage more fully in social, professional, and recreational activities, ultimately enhancing their well-being and sense of autonomy.

Competitive Landscape

Some of the Key Players in Intelligent Prosthetics Market:

  • Sarcos Technology and Robotics Corporation
  • Ktwo Healthcare Pvt. Ltd.
  • Touch Bionics Inc.
  • HDT Global
  • SynTouch, Inc.
  • Artificial Limbs & Appliances
  • Ottobock
  • Ossur Americas
  • Blatchford Group
  • Manta Product Development
  • Esko Bionics
  • Esper Bionics
  • Adapttech
  • Fillauer LLC
  • Mobius Bionics

Market Segmentation:

The intelligent prosthetics market by product, distribution channel. By product the market is segmented into upper extremity, lower extremity. By distribution channel the market is categorized into hospitals, prosthetic clinics, rehabilitation centre, others.

Upper Extremity Segment is Expected to Drive the Intelligent Prosthetics Market

The prosthetics industry's growth, particularly in the upper extremity segment, is driven by several key factors. Firstly, there has been a notable increase in upper limb amputations due to rising incidences of accidents, trauma, and medical conditions. This surge in limb loss, as reported by the World Health Organization (WHO), fuels substantial demand for prosthetic devices tailored to meet the needs of these individuals. Secondly, significant technological advancements have revolutionized upper limb prosthetics. Innovations such as myoelectric devices, which respond to muscle signals for more intuitive control, and the use of advanced materials like hybrid nanomaterials have greatly enhanced both the functionality and comfort of artificial limbs.

Hospital Segment is Growing at the Highest Rate in the Intelligent Prosthetics Market.

The hospital segment in the intelligent prosthetics market is growing rapidly due to its adoption of a comprehensive care approach that integrates these advanced devices into patient treatment plans. Hospitals leverage multidisciplinary teams including orthopedic surgeons, rehabilitation specialists, and prosthetists to provide personalized care from assessment to post-operative rehabilitation. Additionally, hospitals actively contribute to research and development efforts, conducting clinical trials and collaborating with manufacturers to advance intelligent prosthetics technology, thereby driving adoption and improving patient outcomes.

Regionally, North America Led the Intelligent Prosthetics Market.

North America stands at the forefront of intelligent prosthetics adoption, driven by its advanced healthcare facilities, high demand for prosthetic solutions due to traumatic injuries and medical conditions leading to amputations, and robust technological innovation. The region hosts numerous hospitals and rehabilitation centers equipped with state-of-the-art technology, facilitating seamless integration of intelligent prosthetics into patient care. Key players in the prosthetics industry based in the U.S. and Canada lead the way in developing cutting-edge devices that incorporate artificial intelligence and robotics, pushing the boundaries of prosthetic functionality.

Intelligent Prosthetics Market Report Scope

Report Attribute

Specifications

Market Size Value In 2023

USD 835.5 Mn

Revenue Forecast In 2031

USD 1,233.7 Mn

Growth Rate CAGR

CAGR of 5.2 % from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Mn and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Product, By Distribution Channel and By Region

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

Sarcos Technology and Robotics Corporation, Ktwo Healthcare Pvt. Ltd., Touch Bionics Inc., HDT Global, SynTouch, Inc., Artificial Limbs & Appliances, Ottobock, Ossur Americas, Blatchford Group, Manta Product Development, Esko Bionics, Esper Bionics, Adapttech, Fillauer LLC, Mobius Bionics           

Customization Scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Geographic competitive landscape.                     

Pricing and Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Intelligent Prosthetics Market Snapshot

Chapter 4. Global Intelligent Prosthetics Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Estimates & Trend Analysis
5.1. by Product & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product:

5.2.1. Upper Extremity
5.2.2. Lower Extremity

Chapter 6. Market Segmentation 2: by Distribution Channel Estimates & Trend Analysis
6.1. by Distribution Channel & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Distribution Channel:

6.2.1. Hospitals
6.2.2. Prosthetic Clinics
6.2.3. Rehabilitation Centre
6.2.4. Others

Chapter 7. Intelligent Prosthetics Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America
7.1.1. North America Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
7.1.2. North America Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031
7.1.3. North America Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.2. Europe
7.2.1. Europe Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
7.2.2. Europe Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031
7.2.3. Europe Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.3. Asia Pacific
7.3.1. Asia Pacific Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
7.3.2. Asia Pacific Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031
7.3.3. Asia Pacific Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.4. Latin America

7.4.1. Latin America Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
7.4.2. Latin America Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031
7.4.3. Latin America Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.5. Middle East & Africa
7.5.1. Middle East & Africa Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
7.5.2. Middle East & Africa Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031
7.5.3. Middle East & Africa Intelligent Prosthetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles

8.2.1. Sarcos Technology and Robotics Corporation
8.2.2. Ktwo Healthcare Pvt. Ltd.
8.2.3. Touch Bionics Inc.
8.2.4. HDT Global
8.2.5. SynTouch, Inc.
8.2.6. Artificial Limbs & Appliances
8.2.7. Ottobock
8.2.8. Ossur Americas
8.2.9. Blatchford Group
8.2.10. Manta Product Development
8.2.11. Esko Bionics
8.2.12. Esper Bionics
8.2.13. Adapttech
8.2.14. Fillauer LLC
8.2.15. Mobius Bionics
8.2.16. Other Prominent Players

Segmentation of Intelligent Prosthetics Market -

Intelligent Prosthetics Market by Product -

  • Upper Extremity
  • Lower Extremity

Intelligent prosthetics

Intelligent Prosthetics Market by Distribution Channel -

  • Hospitals
  • Prosthetic Clinics
  • Rehabilitation Centre
  • Others

Intelligent Prosthetics Market by Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Intelligent Prosthetics Market Size?

The Intelligent Prosthetics Market is predicted to grow at a 5.2% CAGR during the forecast period for 2024-2031.

Sarcos Technology and Robotics Corporation, Ktwo Healthcare Pvt. Ltd., Touch Bionics Inc., HDT Global, SynTouch, Inc., Artificial Limbs & Appliances,

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