LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global prosthetic robot arm market to grow at a CAGR of more than 11% during the period 2018-2022, according to their latest report.
This market research report segments the global prosthetic robot arm market by technology (microprocessor-based prosthetic robot arm and myoelectric prosthetic robot arm) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the increase in amputation cases as a key factor contributing to the growth of the global prosthetic robot arm market:
Increase in amputation cases
The loss of an arm can affect the level of autonomy and the capability of performing ADL for people substantially. Therefore, it is anticipated that during the forecast period there will be an emergence of robotic arm vendors who provide advances for better control over the prosthesis along with improvements in force or tactile feedback and grasping capabilities. The demand for prosthetic robot arms will see considerable increase primarily because of the increasing incidence of amputation cases resulting from factors such as accidents, particularly those involving landmines, cancerous tumors of the bone or arm muscles, infections, and frostbite.
In addition to these factors, some of the factors that are expected to contribute to an increase in amputation cases are diseases such as obesity, diabetes, arthritis, stroke, and vascular ailments. The forecast period will see an increase in demand due to the increase in the global incidence of diabetes in developed countries coupled with the growing number of war veterans with traumatic amputations.
According to a senior analyst at Technavio for robotics, “It is predicted that there will be a considerable increase in the demand for prosthetic robot arms because of the increasing incidences of strokes. Stroke is increasingly emerging as one among the leading causes of disabilities as survivors are usually left with an impaired hand and arm movements and inability to carry out ADL, eventually leading to loss of motivation and the need for rehabilitation.”
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Global prosthetic robot arm market geographical segmentation
The Americas held more than 43% share of the global prosthetic robot arm market, accounting for the largest market share. It was followed by EMEA and APAC. The market share of the Americas is expected to decrease by almost 2% by 2022. However, this region will dominate the market throughout the forecast period. The APAC region is expected to witness significant growth during the forecast period.
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