Myoelectric Prosthetics Market Trend, Forecast, Drivers, Restraints, Company Profiles and Key Players Analysis by 2027

nikhil.morankar

Increasing number of Critical Limb Ischemia (CLI) cases across the world, along with high investments in 3D printing technology for medical development will drive the market at a high CAGR during the forecast period.

Market Size- USD 165.87 Million in 2018, Market Growth- CAGR of 18.7%, Market trends- Rise in diabetes and other lifestyle related illnesses leading to Critical Limb Ischemia (CLI), coupled with increasing accidents requiring limb amputation from the Asia Pacific region is boosting the global myoelectric prosthetics market, North America expected to register the largest market share during the forecast period

According to the current analysis of Reports and Data, the Global Myoelectric Prosthetics market was valued at USD 165.87 million in 2018 and is expected to reach USD 656.99 million by year 2026, at a CAGR of 18.7%. The market for prosthetics is growing out of critical customer needs. Although relatively uncommon a few years ago and still very costly in many parts of the world, this is an industry that has grown from its nascent to the advanced stages very rapidly. Myoelectric prosthetics as a market can be divided into several segments and sub-segments. It also incorporates new age technology for the function of prosthetics. Many of these technologies are still relatively new, especially finite state machine control and pattern recognition technology, and further research is required in the field to streamline glitches due to improper handling. The product range is also very wide, and so is the scope and need for specializations. Significant progress made in the fields of signal processing, sensory substitution and pattern recognition for myoelectric prostheses has allowed for improvements in the performance of myoelectric control.

The machines currently used by amputees can be difficult to control. Machine learning, and in particular learned predictions about user intent, could help to reduce the time and cognitive load required by amputees while operating their prosthetic device. Adaptive control using real-time prediction learning has the potential to help decrease both the time and the cognitive load required by amputees in real-world functional situations when using these devices.

Myoelectric control of limbs, serving to replace amputated parts with prostheses, involves a lot of issues that must be solved. It starts from the detection of electrical activity of muscles on the stump, which though does not develop a useful muscular exertion, can be used to control at will some predefined motions of artificial hand. An essential problem to be solved in this approach is the acquisition of the most useful controlling biosignals for the prosthesis, but the more important issue is to extract the control information from the raw myosignals. In order to detect the patient’s intention and use the information achieved for controlling different elements of the prosthesis there are several ways, among which the most important are direct acquisition of motor nerve signals and acquisition of electrical signals produced by muscles during their contraction (myoelectric signals). These options require the use of electrodes that can be implanted, in the case of nerve signals, and intramuscular or on surface, in case of myoelectric signals. One of the most used methods for intelligent prosthesis control is based on surface myoelectric signals picked up from the remaining muscles of the amputated arm.

The myoelectric prosthetics market is driven by an array of different factors. Increasing cases of diabetes and associated illnesses leading to Critical Limb Ischemia (CLI), growing cases of accidents leading to limb amputation in developing nations, development of 3D technologies for myoelectric prosthetics, higher income and more awareness in developed nations leading to greater product acceptance are the chief industry drivers of the myoelectric prosthetics market. With respect to technological advancements, targeted Muscle Re-innervation (TMR) is a particularly new development in this field, leading to future innovations and industry growth. This technique is gaining increasing acceptance and popularity in the upper limb prosthetics field and works on relaying the user’s non-verbal commands (movement of body parts) to the prosthetic attachment to activate it and get the work done.

North American region is anticipated to dominate the global myoelectric prosthetics market throughout the forecast period due to advanced technology adoption in healthcare settings. Furthermore, the increased focus on the sports and athletics in this region also supplements the myoelectric prosthetics market growth. Athletes who have met with an unfortunate accident and are more inclined towards going back to their sports are also users of myoelectric prosthetics as they are more convenient than conventional prosthetics. Various industry leaders are investing in this technology. For example, Ottobock SA, a German prosthetics company through its product portfolio offers a myoelectric prosthetic hand, ‘Griefer’, which is designed to perform gripping applications, and it also excels at manual labor and other tasks.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1937  

The report provides a complete coverage of the recent mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others. To offer a clear understanding of the scope of the industry, competitive landscape and different progressive aspects are studied extensively in the report.

Key companies operating in the global market and profiled in the report include:

Ottobock SE & Co. KGaA, Steeper, Inc., Human Technology, Inc., Touch Bionics, Inc., Liberating Technologies, Inc., Coapt, LLC, Aetna, Inc., Ambionics Pvt Ltd., OpenBionics, Shadow Robot Company, amongst others

The report further offers insights into company overviews, business landscape, production and manufacturing capacity, product portfolio, financial standing, global market position, gross profit margins, SWOT analysis and Porter’s Five Forces analysis for each company. The report also covers feasibility analysis and investment return analysis to offer deeper insights into market landscape and industrial chain.

Myoelectric Prosthetics Market Segmentation:

Type Revenue, USD Million; 2017–2027)

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

Technology Revenue, USD Million; 2017–2027)

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

End Use Revenue, USD Million; 2017–2027)

  • Specialty Orthopaedic Clinics
  • Hospitals
  • Others

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1937

The report discusses in detail the geographical spread of the market in key regions of the world including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The report studies the region expected to dominate market growth over the forecast period. The report also talks about the key factors such as supply and demand ratio, production and consumption patterns, consumer demands, technological advancement, research activities, and presence of key players that can influence vital parameters such as market size, market trends, market share, and revenue generation in each region.

Regional analysis covers:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of Europe)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To know more about the report @ https://www.reportsanddata.com/report-detail/myoelectric-prosthetics-market

The report utilizes advanced analytical tools to research, gather, and analyze data. The in-depth research report has been formulated through extensive primary and secondary research and the data has been further validated and verified from industry experts, professionals, and research analysts. The report also offers strategic recommendations to key market players and novice players to overcome barriers and limitations and gain a robust footing in the market.

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1937

Thank you for reading our report. To know more about the customization of the report or further query about the report, please get in touch with us. Our team will ensure the report is well suited to your requirements.

Explore our related report from different Publications:

Folinic Acid Market  Analysis

Capsule Endoscopy Market  Share

Apheresis Equipment Market Growth

Atherectomy Market  Share

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:
John W
Head of Business Development
Reports  and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]

 

https://thetrustedchronicle.com/
Next Post

Ultra-High Performance Concrete Market Revenue Share, Growth Factors, Trends, Analysis & Forecast, 2020–2027

Reports and Data has added a new investigative report on the Global Ultra-High Performance Concrete Market that offers comprehensive assessment about the current market scope as well the emerging trends and opportunities of the market. The report is formulated with extensive primary and secondary research with crucial data and insights […]

You May Like

Subscribe US Now