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Global Intelligent Prosthetics Industry to valuate up to 1437.6 million dollars

Global Intelligent Prosthetics Industry to valuate up to 1437.6 million dollars
The Silicon Review
17 January, 2024

Global Intelligent Prosthetics Industry’s expected valuation by 2033 by FMI

The global intelligent prosthetics industry demand is seeing unmatched growth and is also expected to reach the probable value of 1437.6 million US dollars by the year 2033. That amount would mark a milestone compound annual growth rate (CAGR) of 6.1%. The aforementioned projections are the results of an intense and statistically cross-checked study, anticipating the industry’s worth to reach 791.5 million US dollars by the end of the year 2023. A more recent study showed that lower extremity prosthetics are most likely to take over the market landscape in 2022, occupying the majority share of about 64.4%. This part of the field takes priority in finding easier mobility and quality of life for the patients. It intends to achieve this through astonishing advancements in intelligent prosthetic solutions.

A few things that stood out in FMI’s analysis of the intelligent prosthetics industry are that North America's market for intelligent prosthetics is well-established, which accounts for its leading position. According to FMI's estimates, the regional market is anticipated to grow by 40.6% by 2022. Over the course of the forecast period, the United States is expected to gain a significant share in North America. As of 2022, the country's share on a worldwide scale is projected to be 34.7%. With a share of more than 30% during the projection period, the Europe region is another prominent region.