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Prosthetic Robot Arm Market to Grow by USD 640 Million from 2024-2028 as Rising Amputation Cases Drive Revenue, AI Revolutionizing Market Landscape – Technavio Report

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NEW YORK, Sept. 5, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global prosthetic robot arm market  size is estimated to grow by USD 640 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 14.84%  during the forecast period. Increase in amputation cases is driving market growth, with a trend towards 3D-printed prosthetic robot arm. However, high cost of equipment  poses a challenge. Key market players include Advanced Arm Dynamics Inc., Aether Biomedical sp. Z o.o., Bionic Hope Pvt. Ltd., BrainCo Inc., Cardinal Health Inc., COVVI, exiii Inc., HDT Global, Makers Hive Innovations Pvt. Ltd., Mobius Bionics LLC, Open Bionics Ltd., Ossur hf, Ottobock SE and Co. KGaA, Shadow Robot Co., Steeper Inc., TASKA Prosthetics, Unlimited Tomorrow, and Vincent Medical Holdings Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Hospitals, Household, and Clinics and ambulatory surgical centers), Technology (Microprocessor-based and Myoelectric), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Advanced Arm Dynamics Inc., Aether Biomedical sp. Z o.o., Bionic Hope Pvt. Ltd., BrainCo Inc., Cardinal Health Inc., COVVI, exiii Inc., HDT Global, Makers Hive Innovations Pvt. Ltd., Mobius Bionics LLC, Open Bionics Ltd., Ossur hf, Ottobock SE and Co. KGaA, Shadow Robot Co., Steeper Inc., TASKA Prosthetics, Unlimited Tomorrow, and Vincent Medical Holdings Ltd.

Key Market Trends Fueling Growth

The Prosthetic Robot Arm market is experiencing significant growth, with a major challenge being the high cost of traditional prosthetic arms. However, the forecast period is expected to witness increased adoption of 3D-printed prosthetic robot arms due to their advantages, such as cost-effective manufacturing. Companies like Open Bionics and exiii Inc. Are leading this trend, offering custom-fitted prosthetic arms using 3D scanning and 3D printing technology. Open Bionics’ project allows for a custom-fitted socket and hand to be made in less than two days, while exiii Inc.’s HACKberry arm can be assembled at home with affordable parts and a USD1,000 consumer 3D printer. Easton LaChappelle’s Unlimited Tomorrow is also making waves with a USD4,000 prosthetic arm, focusing on battery technology, miniaturization, and wireless connectivity, while offering free designs for 3D printing. With growing consumer awareness of 3D printing, more vendors are expected to enter the market, increasing competition and driving down costs. 

The Prosthetic Robot Arm market is experiencing significant growth due to the rising number of amputations caused by injuries, chronic diseases, and congenital conditions. Robotics and artificial intelligence are driving innovation in this field, with advancements in 3D printing, biosensor technology, and bionic prosthetics. Companies like LUKE arm system and Mobius Bionics are leading the way in creating high-quality, customized prosthetic arms using advanced materials and biomimetic design. Better materials and technology, such as microprocessor prosthetics, myoelectric prosthetics, and mind-controlled prostheses, are improving the quality of life for amputees. The market volume is increasing due to the growing need for prosthetic arms among healthcare providers and individuals affected by limb loss from diabetes, vascular diseases, cancer, cardiovascular diseases, respiratory diseases, trauma, and other conditions. The use of raw materials and transportation costs are key considerations for manufacturers, while financial aid and insurance coverage help make these advanced technologies more accessible to those in need. Companies like Ace Matrix, Fillauer Companies, and Steeper are also contributing to the market with their innovative solutions. Quantitative units of prosthetic arms are expected to grow steadily in the coming years as technology continues to advance and improve the lives of those with limb loss. 

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Market Challenges

The Prosthetic Robot Arm market is experiencing gradual adoption in developed countries due to advanced robotic medical systems in healthcare. However, affordability remains a challenge for patients in developing and emerging economies. High costs, attributed to the advanced technology, restrict access to prosthetic robot arms for most patients. The ASP is expected to decrease due to emerging technologies like 3D printing. Functional limitations and a short replacement cycle are additional hindrances to market growth. Prosthetic robot arms range from USD15,000 to USD100,000 for advanced models. Despite advancements, the high capital and recurring costs limit market penetration in emerging markets.The Prosthetic Robot Arm market is experiencing significant growth due to advancements in technology, particularly in the areas of biosensor technology, bionic prosthetics, and AI. However, challenges persist, such as the need for better materials, affordability, and customization. Raw material procurement and transportation costs remain a concern for manufacturers. Microprocessor and myoelectric prosthetics, including the LUKE arm system and Mind-controlled prosthesis, are popular choices, but the steep prices limit their accessibility. Companies like Ace Matrix, Mobius Bionics, Fillauer Companies, exiii, Ossur, Vincent Medical Holdings, and Ottobock are leading the way in innovation, offering advanced materials and biomimetic designs. Healthcare providers and insurers must navigate financial aid and coverage options to make these technologies more accessible to those in need. Quantitative units and volumes in the Global Robotic Prosthetics market continue to rise, transforming the lives of amputees and pushing the boundaries of technology in the extremity devices sector.

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Segment Overview 

This prosthetic robot arm market report extensively covers market segmentation by

Application 1.1 Hospitals1.2 Household1.3 Clinics and ambulatory surgical centersTechnology 2.1 Microprocessor-based2.2 MyoelectricGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Hospitals-  The Prosthetic Robot Arm Market is experiencing significant growth due to advancements in technology. These arms offer improved functionality and mobility for amputees, enhancing their quality of life. Key players in the market include DEKA Research & Development, Mobius Bionics, and Hocoma. Collaborations and partnerships between these companies and healthcare institutions drive innovation and expansion. The market’s future looks promising, with increasing demand for advanced prosthetic solutions.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Prosthetic Robot Arm market is a rapidly growing segment of the Robotics industry, driven by advancements in Artificial Intelligence, 3D printing, and Biomimetic Design. Amputation due to injuries, chronic diseases, and congenital conditions continues to fuel demand for these advanced devices. The Amputee Coalition estimates that over 2 million Americans live with limb loss, creating a significant need for prosthetic solutions. Global Robotic Prosthetics market volumes are measured in quantitative units, with Extremity Prosthetics being the largest segment. Prosthetic Robot arms offer advanced features such as customization, improved functionality, and increased user comfort. Advanced materials and Brain-Computer Interfaces are key technologies driving innovation in this field. Healthcare providers play a crucial role in the adoption of Prosthetic Robot arms, with financial aid and insurance coverage being major factors influencing accessibility. Companies like Ace Matrix, Mobius Bionics, Fillauer Companies, exiii, Ossur, and others are leading the way in this market, offering solutions tailored to individual user needs. 3D printing and AI are revolutionizing Prosthetic Robot arm production, allowing for more affordable and customized solutions. The future of Prosthetic Robot arms lies in continued innovation, with potential applications in rehabilitation, industrial settings, and beyond.

Market Research Overview

The Prosthetic Robot Arm market is experiencing significant growth due to the increasing prevalence of amputations, injuries, chronic diseases, and congenital conditions. Robotics and artificial intelligence are revolutionizing the field with advanced bionic prosthetics, microprocessor prosthetics, myoelectric prosthetics, and mind-controlled prostheses. Better materials, such as 3D printed components, and biosensor technology are improving the quality of life for amputees. The Amputee Coalition reports that over 2 million Americans are living with limb loss, with diabetes, vascular diseases, cancer, cardiovascular diseases, respiratory diseases, and trauma being common causes. The market includes voluminous units of prosthetic arms, with key drivers being technological advancements, healthcare providers’ adoption, and financial aid and insurance coverage. Companies are focusing on advanced materials, prosthetic arm customization, biomimetic design, and brain-computer interfaces to meet the evolving needs of the market. Global Robotic Prosthetics, Steeper, Myo Kinisi hand, Ace Matrix, Mobius Bionics, Fillauer Companies, exiii, Ossur, Vincent Medical Holdings, and Ottobock are some of the leading players in the industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationHospitalsHouseholdClinics And Ambulatory Surgical CentersTechnologyMicroprocessor-basedMyoelectricGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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BinBase Launches 2026 BIN Database Featuring 6-11 Digit Waterfall Lookup for High-Precision Payment Routing

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BinBase introduces its upgraded 2026 BIN Database, offering 3.2M+ card ranges, 29 granular data attributes, and extended 8-11 digit accuracy to eliminate false-positives and optimize routing for global fintechs.

MIAMI, July 21, 2026 /PRNewswire-PRWeb/ — BinBase, a provider of payment intelligence and card issuing data, has announced the official release of its updated 2026 BIN Database. Engineered for payment gateways, acquiring banks, fraud prevention platforms, and e-commerce platforms, the updated dataset solves critical routing inaccuracies caused by the industry-wide shift from legacy 6-digit BINs to extended 8-to-11-digit card ranges.

Relying solely on 6-digit BINs in 2026 means misclassifying card products and losing money on interchange fees. Our 2026 release provides the surgical precision developers need for cost-effective payment routing.

Since ISO/IEC 7812 expanded the standard Bank Identification Number (BIN) length to 8 digits, traditional 6-digit lookup tables have struggled to correctly identify modern card profiles. This leads to false positives, misidentified interchange fees, and failed transactions. BinBase addresses this challenge by introducing a multi-tiered database structure supporting up to 11-digit precision, alongside a recommended “Waterfall Lookup Algorithm.”

To ensure 100% routing and verification accuracy, the Waterfall method executes a descending search sequence: checking 11-digit BIN ranges down through 10, 9, 8, 7, and 6 digits until an exact match is resolved.

Key technical specifications of the 2026 BinBase release include:

Over 3.2 Million Card Ranges: Full global coverage including Visa, Mastercard, Amex, Discover, UnionPay, JCB, and regional networks.Extended Precision: Over 88% of the dataset consists of high-precision ranges (8–11 digits) to accurately isolate sub-brands, currencies, and card tiers.29 Granular Attributes: Beyond core issuer data, the database features advanced parameters including Durbin Regulation status, US Debit/ATM network routing (STAR, NYCE), Fast Funds (Visa Direct / Mastercard MoneySend indicators), commercial Level 2/Level 3 data, and digital wallet token ranges (Apple Pay / Google Pay).

“Modern payment processing requires surgical precision,” said a spokesperson for Damiko Inc. “Relying solely on 6-digit BINs in 2026 means misclassifying card products and losing money on interchange fees. Our 2026 release provides the underlying intelligence developers need to build resilient, cost-effective payment infrastructure.”

Developers and payment teams can evaluate the full 29-field database schema, review integration examples, and download a free 2026 sample dataset on the official GitHub repository.

To learn more about full commercial licensing options, instant CSV downloads, and custom API delivery, visit BinBase.

About Damiko Inc

Damiko Inc is a US-based fintech data provider specializing in card issuer analytics, payment routing data, and global BIN database solutions. Operating through its flagship product, BinBase.com, the company supplies high-precision transaction intelligence to help merchants and payment facilitators worldwide optimize approval rates and mitigate fraud.

Media Contact

Fedor Lavrikoff, BinBase, 1 +17866133333, sales@binbase.com, htttps://www.binbase.com 

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SOURCE BinBase

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Redington Limited and AutomationEdge Announce Strategic Partnership to Accelerate Enterprise Automation and Agentic AI Adoption

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MUMBAI, India, July 22, 2026 /PRNewswire/ — Redington, a leading technology aggregator and innovation catalyst, and AutomationEdge, a leading Agentic Process Automation platform for global enterprises, have announced a strategic partnership to accelerate the adoption of enterprise automation and Agentic AI. The collaboration brings together Redington’s extensive distribution ecosystem and partner network with AutomationEdge’s enterprise-grade Agentic Process Automation platform to enable faster, scalable, and outcome-driven digital transformation for organizations.

As a part of the partnership, AutomationEdge’s portfolio of AI Agents and automation solutions is now available through the Redington AI Exchange Marketplace, enabling partners and customers to easily discover, evaluate, and deploy enterprise-ready AI solutions. This availability significantly reduces the time required to adopt AI-driven automation and provides organizations with access to proven use cases that can deliver measurable business outcomes.

The partnership is focused on delivering solution-led automation offerings that simplify adoption for enterprises and channel partners. By combining Redington’s go-to-market reach with AutomationEdge’s 10x automation capabilities, the two organizations aim to help businesses move from fragmented automation initiatives to enterprise-wide orchestration—driving efficiency, agility, and operational excellence.

Through this collaboration, both companies will jointly promote pre-built automation and AI Agent solutions across key business functions, including banking operations, insurance processes, IT / HR operations, customer service, and finance functions. These solutions include ready-to-deploy workflows, AI Agents, demonstration environments, and implementation frameworks designed to accelerate deployment and reduce complexity.

The partnership will also include joint go-to-market initiatives such as partner enablement programs, co-branded workshops, solution showcases, and proof-of-concept (PoC) engagements. These initiatives are designed to equip Redington partners with the knowledge, tools, and support needed to successfully position, sell, and implement AI-powered automation solutions for enterprise and mid-market customers.

Sayantan Dev, Global Head, Software Solutions Group, Redington, said, “The next phase of AI adoption will be defined by execution. Through the Redington AI Exchange Marketplace, we are bringing together the technologies and ecosystem needed to help partners deliver real business outcomes at scale. AutomationEdge’s Agentic AI and automation capabilities strengthen our ability to enable customers to accelerate AI adoption with greater speed, governance, and confidence.”

Prasad Likhite, Chief Sales Officer of AutomationEdge, said, “We are delighted to strengthen our partnership with Redington and accelerate the adoption of next-generation enterprise automation and Agentic AI solutions across the market. The availability of AutomationEdge AI Agents through the Redington AI Exchange Marketplace marks an important milestone in democratizing AI-led transformation, enabling enterprises to rapidly scale intelligent automation initiatives with speed, agility, and measurable business impact. At the same time, it creates significant opportunities for partners to drive innovation, unlock new revenue streams, and deliver greater value to their customers.”

The collaboration also emphasizes localized support, implementation expertise, and customer success services, ensuring that organizations can seamlessly deploy, manage, and scale automation initiatives. By leveraging Redington’s strong partner ecosystem and AutomationEdge’s deep expertise in automation and Agentic AI, the partnership is well-positioned to address the evolving needs of modern enterprises.

As organizations increasingly prioritize productivity, operational efficiency, and AI-led transformation, this partnership marks a significant step toward making enterprise automation and Agentic AI more accessible, scalable, and impactful across industries.

 About Redington

Redington Limited (NSE: REDINGTON) (BSE: 532805), a leading technology solutions provider, empowers businesses in their digital transformation journeys. Guided by its brand narrative “Unlock Next”, Redington goes beyond distribution to remove barriers, accelerate digital adoption, and unlock access, growth, trust, efficiency, and impact—helping businesses, communities, and societies embrace what’s next in technology

About AutomationEdge

AutomationEdge is a leading Agentic Process Automation platform for global enterprises. Its platform enables organizations to automate complex business processes, deploy AI Agents at scale, improve operational efficiency, and accelerate digital transformation initiatives across industries.

Media Contact:
Rahul Wandile
rahul.wandile@automationedge.com

 

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Applied Intuition Launches Dana, the Agentic Platform for Physical AI

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New platform pairs agentic AI with the tooling, data, infrastructure and domain expertise Applied Intuition has built over nearly a decade to speed the safe development of intelligent machines for the physical world.

Dana is the first agentic platform for building, testing, deploying and operating physical AI systems across industries.Built on nearly a decade of Applied Intuition’s tooling, infrastructure, workflows and engineering expertise, Dana is purpose-built for safety-critical systems operating in the physical world.Dana helps companies build physical AI applications for any industry or use case, from autonomy and software-defined vehicles to fleet operations, robotics, construction, mining and intelligent in-vehicle experiences.Dana has already reduced critical phases of vehicle development from months to days in internal and select customer deployments.

SUNNYVALE, Calif., July 22, 2026 /PRNewswire/ — Applied Intuition, Inc., a leader in physical AI, today announced the launch of Dana, the first agentic platform for building, testing, deploying and operating physical AI systems across industries. Dana combines the power of agentic AI and rapid application development with nearly a decade of Applied Intuition’s tooling, infrastructure and engineering knowledge. The result is a unified system that accelerates the development of intelligent machines in the physical world.

“We believe physical AI will become one of the defining technologies of this century,” said Qasar Younis, co-founder and CEO of Applied Intuition. “Our ambition is to help bring intelligence to a billion machines, and Dana is the platform we built to make that possible.”

Unlike general-purpose AI tools designed primarily for digital workflows, Dana is built for the complexities of machines operating in the physical world. Dana comes with all the platform capabilities needed to build and deploy safety-critical physical AI applications, including data, visualization and tooling, as well as the evaluation, traceability and governance these systems require. The platform was designed to work across industries and with a wide range of use cases, from software-defined vehicle development and advanced driver assistance systems (ADAS) to mining and construction operations, truck fleet management, robotics and intelligent in-vehicle experiences. With Dana, customers can:

Deploy Applied Intuition’s reference applications — spanning autonomy, fleet operations, and more — or build their own.Use both natural language and command-line interfaces to complete complex development tasks more intuitively and accelerate iteration cycles across teams and systems.Integrate the platform with enterprise systems and collaboration tools, like Slack and Jira, helping organizations connect fragmented engineering and operational workflows while embedding agentic capabilities across the development process.

Applied Intuition has used Dana internally since last year, building and delivering solutions on the platform for long-standing customers across automotive, trucking, mining, and agriculture. Dana’s agent-driven workflows have reduced critical phases of vehicle development timelines from months to days in some cases. Applied Intuition has offered limited, early access to select customers, including heavy-equipment manufacturer Komatsu and Isuzu Motors, who is using the platform to accelerate L4 autonomy for its fleet of commercial trucks.

“We’ve been impressed by how Dana can streamline complex engineering workflows and accelerate development,” said Yasuhiro Yazawa, Director, Isuzu Motors Limited, Japan. “Dana gives our engineering teams greater confidence to develop, track and deploy safe autonomous-vehicle capabilities at a much faster pace.”

“Applied Intuition has been a valuable technology partner as we continue advancing the digital capabilities that support the next generation of mining equipment and solutions,” said Peter Salditt, CEO, Komatsu Mining. “Dana represents another step forward, bringing intelligent, agentic capabilities into our engineering workflows to help our teams innovate faster, improve efficiency and ultimately create greater value for our customers’ operations.”

Dana is designed to help companies keep up with the fundamental shift now underway across industries. As autonomous vehicles, robots and industrial systems become more capable, manufacturers need a more integrated way to build, validate and deploy them safely. Dana gives teams a faster path from idea to production, and the confidence to put increasingly intelligent machines into the real world.

The future of AI is physical. Dana was built for it.

To learn more about Dana and Applied Intuition’s physical AI platform, visit AppliedIntuition.com.

About Applied Intuition
Applied Intuition, Inc. is powering the future of physical AI. Founded in 2017 and now valued at $15 billion, the Silicon Valley company is creating the digital infrastructure needed to bring intelligence to every moving machine on the planet. Applied Intuition services the automotive, defense, trucking, construction, mining and agriculture industries in three core areas: tools and infrastructure, operating systems, and autonomy. Eighteen of the top 20 global automakers, as well as the United States military and its allies, trust the company’s solutions to deliver physical intelligence. Applied Intuition is headquartered in Sunnyvale, California, with nearly two dozen offices across the globe, including in London, Munich, Tokyo, Seoul, and the Washington, D.C. metro area. Learn more at applied.co or press@applied.co.

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SOURCE Applied Intuition, Inc.

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