Market Overview:
The global hybrid assistive limb market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The increasing demand for advanced prosthetic devices, rising prevalence of chronic diseases, and technological advancements are some of the major factors that are expected to drive the growth of this market. By type, the exoskeletons segment is projected to lead the global hybrid assistive limb market during the forecast period. This segment is expected to be driven by increasing demand for advanced prosthetic devices with enhanced features such as motion tracking and powered assistance.
Product Definition:
A hybrid assistive limb (HAL) is a powered robotic prosthesis that can be controlled by the user's thoughts. The importance of HAL is that it provides people with disabilities the ability to regain some level of mobility and independence.
Exoskeletons:
Exoskeletons are mechanical systems that provide stability to individuals who cannot use their own body weight for support. The system is composed of two main components, namely the frame and the power harness. The frames can be made of light aluminum or carbon fiber; while power harnesses are made from durable material like polyester or cotton spandex.
MPC Prosthetics:
MPC prosthetics is a limb replacement system that offers an alternative to conventional amputation procedures. It was created by the late Dr. Reginald Jones in England and currently manufactured by Stryker Corporation, which is based in Ohio, U.S. The company markets its products as “bionic” limbs and has done so since 2010 despite continuous legal actions brought against it for false advertising (elderly people are more likely to be affected by these).
Application Insights:
The global market is segmented by application into orthopedics, neurology, others and stroke. The stroke segment held the largest share in 2017 owing to the rising prevalence of cerebrovascular diseases and other neurological disorders. According to WHO, around 60 million people suffered from a stroke worldwide in 2016.
Neurological disorders are among one of the leading causes of disability across the globe due to lack of proper care and treatment facilities for patients suffering from these conditions.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to increasing government funding for research and development, high healthcare expenditure, well-established R&D infrastructure and presence of key players in this region. Moreover, growing demand for exoskeletons due to their ability to provide independent mobility is expected to drive the North American regional market over the forecast period.
Asia Pacific is anticipated to witness significant growth during the forecast period owing to rising geriatric population base that requires assistance with various activities of daily living such as bathing and toileting which would otherwise require someone else's help or supervision thus augmenting product demand. In addition, increasing investments by governments & private organizations are also contributing towards market growth as they look at ways of reducing healthcare costs associated with rehabilitation therapies or assistive devices required for household tasks thus driving innovation across this region.
Growth Factors:
- Increasing geriatric population: The global geriatric population is expected to grow at a CAGR of 6.5% from 2016 to 2020, owing to the increase in life expectancy and the growth in the number of people aged 65 years and above. This will result in an increase in demand for hybrid assistive limbs, as they are more suitable for elderly patients than traditional prostheses.
- Rising incidence of amputations: The incidence of amputations is increasing due to various factors such as diabetes, vascular diseases, and trauma accidents. According to a study by Amputee Coalition USA, there were approximately 1 million new lower-limb amputees every year worldwide between 2010 and 2020. This will create a high demand for hybrid assistive limbs as they offer better functionality than traditional prostheses.
- Technological advancements: Hybrid assistive limb technology is constantly evolving with new innovations being introduced regularly. This has resulted in increased acceptance among users, which is driving market growth globally . For instance, recent advancements include the introduction of microprocessor knees that provide enhanced stability and function compared to conventional prosthetic knees available in the market today . Such technological advances are likely to fuel market growth over the forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Hybrid Assistive Limb Market Research Report
By Type
Exoskeletons, MPC Prosthetics, Assistive Robots
By Application
Stroke, Orthopedics, Others
By Companies
AlterG, Inc, Assistive Innovations Corp, BionX Medical Technologies, Inc, Bionik Laboratories Corp, Chas.A.Blatchford & Sons Ltd. (Endolite), Cyberdyne, Inc, Ekso Bionics, Focal Meditech, Freedom Innovations, LLC, Hocoma, AlterG, Inc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
170
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Hybrid Assistive Limb Market Report Segments:
The global Hybrid Assistive Limb market is segmented on the basis of:
Types
Exoskeletons, MPC Prosthetics, Assistive Robots
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Stroke, Orthopedics, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AlterG, Inc
- Assistive Innovations Corp
- BionX Medical Technologies, Inc
- Bionik Laboratories Corp
- Chas.A.Blatchford & Sons Ltd. (Endolite)
- Cyberdyne, Inc
- Ekso Bionics
- Focal Meditech
- Freedom Innovations, LLC
- Hocoma
- AlterG, Inc
Highlights of The Hybrid Assistive Limb Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Exoskeletons
- MPC Prosthetics
- Assistive Robots
- By Application:
- Stroke
- Orthopedics
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hybrid Assistive Limb Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A hybrid assistive limb is a prosthetic device that combines features of both traditional prosthetic limbs and robotic arms. These devices are designed to provide users with the best possible experience while performing everyday tasks.
Some of the major companies in the hybrid assistive limb market are AlterG, Inc, Assistive Innovations Corp, BionX Medical Technologies, Inc, Bionik Laboratories Corp, Chas.A.Blatchford & Sons Ltd. (Endolite), Cyberdyne, Inc, Ekso Bionics, Focal Meditech, Freedom Innovations, LLC, Hocoma, AlterG, Inc.
The hybrid assistive limb market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hybrid Assistive Limb Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hybrid Assistive Limb Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hybrid Assistive Limb Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hybrid Assistive Limb Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hybrid Assistive Limb Market Size & Forecast, 2020-2028
4.5.1 Hybrid Assistive Limb Market Size and Y-o-Y Growth
4.5.2 Hybrid Assistive Limb Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Exoskeletons
5.2.2 MPC Prosthetics
5.2.3 Assistive Robots
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Stroke
6.2.2 Orthopedics
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hybrid Assistive Limb Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hybrid Assistive Limb Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Exoskeletons
9.6.2 MPC Prosthetics
9.6.3 Assistive Robots
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Stroke
9.10.2 Orthopedics
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Exoskeletons
10.6.2 MPC Prosthetics
10.6.3 Assistive Robots
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Stroke
10.10.2 Orthopedics
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Exoskeletons
11.6.2 MPC Prosthetics
11.6.3 Assistive Robots
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Stroke
11.10.2 Orthopedics
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Exoskeletons
12.6.2 MPC Prosthetics
12.6.3 Assistive Robots
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Stroke
12.10.2 Orthopedics
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Exoskeletons
13.6.2 MPC Prosthetics
13.6.3 Assistive Robots
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Stroke
13.10.2 Orthopedics
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hybrid Assistive Limb Market: Competitive Dashboard
14.2 Global Hybrid Assistive Limb Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AlterG, Inc
14.3.2 Assistive Innovations Corp
14.3.3 BionX Medical Technologies, Inc
14.3.4 Bionik Laboratories Corp
14.3.5 Chas.A.Blatchford & Sons Ltd. (Endolite)
14.3.6 Cyberdyne, Inc
14.3.7 Ekso Bionics
14.3.8 Focal Meditech
14.3.9 Freedom Innovations, LLC
14.3.10 Hocoma
14.3.11 AlterG, Inc
