Motorized Prostheses Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
- Healthcare IT
Motorized prosthesis is an artificial medical device used to perform functions of missing body parts that were lost due to congenital factors, trauma, or various other diseases. Motorized prosthesis are a combination of biomedical engineering and neuroscience. The motorized prosthesis is based on brain-computed interface and muscle innervation technology, to avail biological functioning of missing body parts. Motorized prosthesis is a complex network of motors and cognitive modalities. These devices are made support autonomous nervous system functions such as devices for bladder control. Motorized prostheses are in the research and development phase. Various technological advancements are used to develop novel prosthesis to support the normal functioning of the body.
Increasing research & development expenditure to support the life of affected patients with missing body parts, technological advancement in motorized prosthesis, rising geriatric population, and rise in trauma cases across the globe are driving the motorized prosthesis market. According to the World Health Organization (WHO) report, nearly 50 million people across the globe are severely injured every year due to road accidents. The severity of these injuries sometimes result in loss of limbs. The number is said to witness an alarming rise of around 65% in the coming years. The scenario is expected to increase the demand for motorized prosthesis across the globe. However, motor prosthesis is in its initial phase of development and factors such as high developmental cost and high pricing are likely to restrain the motorized prosthesis market.
The motorized prostheses market has been segmented into DNA type, application, end-user, and geography. In terms of DNA type, the motorized prostheses market has been categorized into oligonucleotide DNA (oDNA) and complementary DNA (cDNA). Based on application, the motorized prostheses market has been segmented into upper limb prosthetic and lower limb prosthetic. In terms of end-user, the motorized prostheses market has been segregated into hospitals, clinics, ambulatory surgical centers, and others.
Based on geography, the motorized prostheses market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America was the largest motorized prostheses market owing to favorable government policies, increase in incentives. Technological advancement in motorized prostheses is anticipated to propel the market in North America. According to an article published by the University of Pittsburgh, approximately 2 million individuals live without a limb in the U.S. alone, and nearly 185,000 amputations occur in the U.S. every year. Europe was the second largest motorized prostheses market. Increasing research & development expenditure, rising prevalence of back and neck/upper-limb problems and increasing number of neurological disorders in the region are expected to propel the motorized prostheses market in Europe. According to WHO, in Germany around 250,000 to 500,000 people suffer from spinal cord injury (SCI) every year. Most of these spinal cord injuries are caused due to road accidents, violence, and falls. Technological advancements, growth in infrastructure, and increase in disposable income are projected to drive the market in Asia Pacific. China, Japan, and India are rapidly developing countries in the region. Increasing adoption of technological advanced products and establishment of foreign companies in these countries are expected drive the market in the region. Countries such as Brazil and Mexico are expected to support the expansion of the market in Latin American due to improving medical infrastructure and rising disposable income.
Key players operating in the motorized prostheses market include Advanced Arm Dynamics, Bionic Prosthetics and Orthotics Group LLC, BionX Medical Technologies, Inc., Faulhaber Group, Freedom Innovations, LLC, Mobius Bionics LLC, Ottobock Holding, and Touch Bionics Inc.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Healthcare IT
Healthcare ITGlobal mHealth Market Research Report 2016
Pharmaceuticals and HealthcareGlobal Bionic Ears Market Professional Survey Report 2017
Pharmaceuticals and HealthcareNeuropsychiatric Disorder Cluster Drug Development Pipeline Review, 2017
Pharmaceuticals and HealthcareHepatitis Drug Development Pipeline Review, 2017