Prosthetics Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2027

The Global Myoelectric Prosthetics Market is projected to grow at a CAGR of 18.5% from USD 198.2 million in 2019 to USD 775.9 million in 2027. The Global Myoelectric Prosthetics Industry is expanding at a rapid pace. Many myoelectric prosthesis companies deals in the industry to provide myoelectric prosthetic arm and myoelectric prosthetic leg to patients. Myoelectric hand prosthetics are a rapidly growing sector of the industry.

Open Bionics is one of the most-demanding company dealing in this industry and Bionic Limbs is their highest-selling portfolio. Prosthetic limb market, robotic prosthetics market, prosthetics industry statistics, orthotics and prosthetics market, prosthetic arm, myoelectric sensors, myoelectric prosthetics compared to body-powered, to name a few some of the most crucial corresponding factors and topics that have been influencing the market growth in many ways, have been additionally discussed in details in the report. Leading and growing players in the market that have been investing an extensive amount in the research & development in such corresponding factors have observed enormous growth in their business.

Myoelectric Prosthetics Market: Product Developments

Advanced Prosthetic Materials:
- Ongoing research and development may lead to the use of advanced materials in the construction of myoelectric prosthetics, improving durability, comfort, and overall performance.
Miniaturization and Lightweight Design:
- Innovations in design and engineering may focus on creating smaller and lighter myoelectric prosthetics, making them more comfortable and practical for daily use.
Sensor Technology:
- Integration of advanced sensor technologies can enhance the functionality of myoelectric prosthetics, allowing for more precise and intuitive control by users.
Machine Learning and Artificial Intelligence:
- The incorporation of machine learning and AI algorithms into myoelectric prosthetics can enable more adaptive and responsive movements, learning from user behavior over time.
Improved Power Sources:
- Advances in battery technology or alternative power sources may result in longer-lasting and more efficient myoelectric prosthetics.
Customization and Personalization:
- Tailoring myoelectric prosthetics to individual user needs through customization and personalization features could be a focus, improving the user experience.
Enhanced Sensory Feedback:
- Innovations in providing users with better sensory feedback, such as the sense of touch or proprioception, can improve the overall functionality and natural feel of myoelectric prosthetics.
User Interface and Connectivity:
- Improved user interfaces and connectivity features, including smartphone integration and wireless communication, may enhance the overall usability and control of myoelectric prosthetics.
Affordability and Accessibility:
- Efforts to make myoelectric prosthetics more affordable and accessible to a broader range of users may drive innovations in cost-effective manufacturing and distribution.

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Market-O-Nomics

Incidences of traumatic injuries are on the rise in Asia-Pacific and Latin-American region. Many accidents lead to loss of limbs, providing an opportunity for industry manufacturers.
The hospital segment is expected to be the largest user of the machines in 2019-2026, and specialty orthopedics are expected to be the second fastest growing sub-segment in the End User category.
The number and cases of diabetes, high blood pressure, and cholesterol are on the rise globally. These conditions are increasing the incidences of Critical Limb Ischemia (CLI), which makes the limbs unsuitable for use.
The rate of diabetes in the general population is growing the fastest in Asia Pacific. Indian population with diabetes is well over 50 million while that in China crossed the 100 million mark. The cases of Critical Limb Ischemia (CLI) is expected to increase in this region, providing a significant market growth for myoelectric prosthetics.
Changing reimbursement policies and patient safety concerns are roadblocks to the growth of this industry, and they have to be dealt very efficiently.
By Product type, Upper-extremity prostheses are capturing the market readily and there is a lucrative growth forecast for this sub-segment for the industry.
Hand myoelectric prosthetics are anticipated to be the fastest growing sector in the Upper-extremity prostheses segment during the analysis period.
Continuous innovation in 3D Printing technology is expected to drive down the cost of myoelectric prosthetics. Companies operating in the field of 3D printing are looking at the myoelectric prosthetics industry as it offers a lucrative sector for their growth.

Companies considered and profiled in this market study

Ottobock SE & Co. KGaA, Steeper Inc (USA), Human Technology Inc (USA), Touch Bionics Inc (Japan), Liberating Technologies, Inc. (Netherlands), Coapt, LLC (Switzerland), Aetna Inc. (Japan), Ambionics Pvt Ltd (UK), OpenBionics (Australia), Shadow Robot Company, among others are leading players involved in the market.

Based on Product Type market is segmented into:

Upper-extremity prostheses
Arm myoelectric prosthetics
Hand myoelectric prosthetics
Shoulder myoelectric prosthetics
Lower-extremity prostheses
Leg myoelectric prosthetics
Hip joint myoelectric prosthetics

Based on Technology market is segmented into:

Proportional control
On–off control
Finite state machine
Machine Learning
Pattern recognition
Postural control

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Based on Region market is segmented into:

North America
Europe
Asia-Pacific
South America
Middle East & Africa

Major Points covered in this report are as below:

An analysis of Myoelectric Prosthetics industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.

In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.

In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.

This report provides information on the market status of Myoelectric Prosthetics manufacturers and provides valuable insight into the market for companies and individuals.

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We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa

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