Andrey Davidyuk, CEO of "Motorica," spoke about the growing demand for robotic upper limb prostheses. According to Precedence Research, the global prosthetics market will grow by more than 5% annually and reach $1.5 billion by 2033. The main driver of growth is the development of medicine, which allows saving the lives of people in need of prostheses.
"Motorica" notes that bionic and robotic prostheses are now in demand, which do not replace the hand, but perform some of its functions. Prostheses are equipped with an external power source and require significant training for full use. In foreign markets, such as India, there is a growing interest in bionic prostheses with a cosmetic shell.
The Russian company competes with global manufacturers due to a wide range, unique products, and prosthesis control systems. In 2023, "Motorica" plans to conduct an IPO and continue expanding in the field of assistive technologies, including neurostimulators and exoskeletons. The company's production volume reached 600 prostheses per month, and it is planned to increase it in the coming years. "Motorica" is also coping with the problems of the component base, localizing production and finding alternative sources.
In 2022, the company's revenue tripled to 1.8 billion rubles, and net profit increased sevenfold to 635 million rubles. This is due to the successful overcoming of the initial stage of venture development and market expansion, Davidyuk said.
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