Industry Background:
Prosthetic devices have considerably enhanced mobility and quality of life for amputees. Substantial engineering advancements have been made in artificial limb biomechanics, joint control systems, and light-weight materials with the implementation of AI. One of the problem face with their artificial limbs is a poor-fitting socket. The prosthetic limb is prepared with numerous sensors to measure the kinematic and kinetic parameters of both prosthetic limbs. This prosthetic limb is designed to be back-drivable in passive mode to provide a potential use in energy regeneration when there negative energy across the joint.This growth is primarily driven by Rising Aging Population Leads to Boost the Cervical Disc Prosthesis Market
.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Units |
Value Unit | Value (USD Million) |
Key Companies in Study | Bioparx Health Technology (Argentina), HDT Global (United States), SynTouch (United States), Össur (Iceland), Open Bionics (United Kingdom), Motion Control, Inc. (United States), DEKA Research (United States), Steeper (United Kingdom), Ottobock (Germany) and Cyberkinetics (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Bioparx Health Technology (Argentina), HDT Global (United States), SynTouch (United States), Össur (Iceland), Open Bionics (United Kingdom), Motion Control, Inc. (United States), DEKA Research (United States), Steeper (United Kingdom), Ottobock (Germany) and Cyberkinetics (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In February 2022 Össur had announced the launch of New POWER KNEE. The POWER KNEE is a revolutionary piece of bionic technology; it is a motor-powered "smart" prosthesis that detects patterns of human movement, then instantly learns and adapts to the wearer's speed and cadence using cutting-edge algorithms. The POWER KNEE generates motion by offering active powered assistance while differentiating between the wearer's sitting and standing, as well as walking on a variety of surfaces, elevation or descent.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Regulatory Insights:
In August 2021 U.S. Food and Drug Administration (FDA) De Novo classification grant and authorization to market the tibial extension for Persona IQ, the world's first and only smart knee cleared by the FDA for total knee replacement surgery.
Market Drivers
- Rising Aging Population Leads to Boost the Cervical Disc Prosthesis Market
- Increasing adoption of Hand/Leg Limbs replacement
Market Trend
- Technological Advancement in Prosthesis like involvement of AI
Restraints
- High Cost Related to Smart Prosthesis
Opportunities
Prevalence of Degenerative Discs Diseases
Challenges
Poor Fitting of the Limb Socket
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Prosthesis Study Sheds Light on
The Smart Prosthesis Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Prosthesis industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Prosthesis industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.