Houston, TX -- (ReleaseWire) -- 07/10/2015 --This study reports analysis on healthcare robotics trends across 6 regions of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa. Increasing international conflicts have left a large number of wounded causing several thousand victims to end up as amputees every year. There are approximately 3-4 million people with seriously debilitating amputations across the world each year. In United States the total number of amputees living is approximately 2 million today.
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North America dominated the market in terms of market share in 2014 since it is the adopter market for medical robotic systems and therefore, touts of being the highest user of these systems with the greatest adoption of new technology. Moderate private reimbursement policies and the presence of sophisticated healthcare infrastructure helps manufacturers gain a perfect platform for new product launches. Since the end-users of Exoskeletons and Assistive Rehabilitation systems include hospitals and clinics the segment currently shows a greater adoption, however this growth is anticipated to be for a short duration and is expected to stabilize at a single digit growth rate after the market matures by the next decade.
Europe followed North America in terms of market share in 2014. On account of their high accuracy and efficacy it is estimated that assistive and prosthetic robots will hold very high market penetration rates in Western European countries. Rise in patient awareness levels coupled with high economic growth in Eastern European countries will serve the European market as future growth opportunities. Both market leaders in prosthetics Ottobock and Ossur are based in Europe and have a substantial revenues generating from the region. Moreover, several research projects for intelligent prosthetics and rehabilitative systems are being conducted across the region. The high level of research and development activity ensures that Europe will continue to maintain pace with the growth in this market.
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Overseas investment is increasing across all companies. A large number of companies are also investing overseas in emerging countries such as China, India and Brazil. In two years Hocoma opened subsidiaries at Slovenia and Singapore in 2012 and 2010 respectively. Big international companies are also capable of following acquisition strategies in order to gather technology while at the same time even sponsoring R&D programs in top technology universities. For e.g. Ossur is a partner involved in the development of the Smart Hand prosthetic which is touted to be one of the most impressive neural prosthesis yet.
