The following five to seven years are projected to witness a sustained upshift in investments and exponential improvements in the artificial limbs market. The soft and pliant nature of advanced prosthetic materials to protect underlying skin from residual damage is having a significant effect on their rate of adoption.
Mind-controlled humonic solutions are a radical breakthrough in research related to artificial limbs. These solutions can restore the unmet needs of lost sensation and human-like aesthetics, including gestures and volitional control. Extensive research in the field of artificial intelligence aimed at better quality of life for amputees is fuelling the growth of the artificial limbs market. Fact.MR, in its newest report, reveals that, the artificial limbs market is all set to witness a healthy CAGR of 6% through the forecast period (2020 - 2025).
The research study on the artificial limbs market by Fact.MR incorporates an unbiased assessment of the key demand-driving factors and trends that can shaped the landscape of artificial limbs over 2020 - 2025, and includes a detailed assessment of the key parameters that are anticipated to exert influence over the forecast period. Market statistics have been presented on the basis of product (upper extremity, lower extremity, sockets, liners, others), technology (cosmetic prosthetics, cable-operated/body-powered prosthetics, electrically-powered/myoelectric prosthetics, others), end user (hospitals, prosthetic clinics, rehabilitation centres), across five major regions.
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Artificial Limbs Market - Scope of the Study
Fact.MR, in its exclusive research report on the artificial limbs market, highlights actionable insights and winning imperatives for stakeholders.
This comprehensive study unfolds rare and distinguished intelligence regarding impactful dynamics, which directly or indirectly influence the growth of the artificial limbs during the forecast period (2020 - 2025).
With the help of crucial insights discussed in this study, stakeholders will gain a thorough idea regarding the growth trajectory of the artificial limbs market.
This comprehensive study offers incisive data regarding the drivers, threats, restraints, and opportunities present in the artificial limbs market. The study also recalibrates the impact of each of these dynamics to estimate the size of the artificial limbs market for the given period.
Product Innovations and Well-timed Partnerships Lead to a Top-Heavy Competition Landscape
The artificial limbs market is highly consolidated in nature, with Ossur, Ottobock, and Hanger among the key players. Leading players have established a strong foothold in the market through strong teams, innovation, a highly-nuanced product portfolio, and timely acquisitions. For instance,
- In November 2019, Ossur and Alfred Mann Foundation (AMF) signed a milestone agreement that allows Ossur to further develop and licence AMF’s implanted myoelectric sensor systems, as both these organizations surge ahead to explore the potential of mind-controlled prosthetic technologies.
- In the same month, Ottobock announced advancements in upper limb prosthetics, called the Myo Plus pattern recognition system. Ottobock partnered with Hanger to fit this new design onto an amputee. The technology has been approved and cleared by the FDA.
Artificial Limbs Market - Assessment of Key Segments
Product
- Upper Extremity
- Lower Extremity
- Sockets
- Liners
- Others
Technology
- Cosmetic Prosthetics
- Cable-operated/Battery-powered Prosthetics
- Electrically-powered/Myoelectric Prosthetics
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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