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Myoelectric Prosthetics Market Growth, Global Survey, Analysis, Share, Company Profiles and Forecast by 2027


Reports And Data

Increasing number of Critical Limb Ischemia (CLI) cases across the world, along with high investments in 3D printing technology

NEW YORK, NY, UNITED STATES, December 13, 2021 /EINPresswire.com/ — 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 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.

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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.

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Market Overview:

The pharma and healthcare industry is rapidly expanding in terms of revenue over the last few years and is expected to register significant revenue growth over the forecast period of 2028. Rapid advancements in the healthcare sector, rapid growth in the medical and healthcare sectors, availability of latest equipment and tools, rising healthcare expenditure and improvements in healthcare infrastructures are some key factors driving global market revenue growth. In addition to this, increasing investments in research and development activities, rising prevalence of various diseases and dearth of medications and hospitals during the ongoing COVID-19 pandemic are boosting market growth. Increasing number of funds by public and private sectors, rising adoption of point-of-care diagnosis and home settings, high demand for precision medicine and ongoing research on drug discovery are also expected to fuel market growth going ahead.

Competitive Landscape

The report sheds light on the competitive landscape of the global Myoelectric Prosthetics market and details about each market player, global position, financial standing, license agreement, and product and service portfolio along with business expansion plan. Major players are investing in research and development activities to develop and launch new products and services and are also focusing on adopting key strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position and enhance their product base.

Leading companies operating in the global Myoelectric Prosthetics market 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 are operating in the burgeoning marketplace.

Further key findings from the report suggest-

• Increasing number of trauma and accident cases are leading to limb amputations, multiplying the need of myoelectric prosthetics. Upper limb prosthetics are the highest growing sub-segment in the Product Type segment.

• North America had the leading share in the myoelectric prosthetics market in 2018, chiefly because of the converging trends of their increased adoption rate of new technology, rise in the number and cases of Critical Limb Ischemia (CLI) and increased investments in the field.

• Asia Pacific region will witness the highest CAGR during the forecast period on account of estimated rise in the numbers of road and vehicular accidents requiring amputations and an increased need of low-cost solutions to provide prosthetics.

• China and India are expected to witness a huge surge in this market, as the industry is geared towards countries which have a higher population (thus leading to a larger addressable market for companies). As accidents continue to rise in the Asia Pacific region, with public healthcare expenditures continuing to increase, the industry is expected to see a stable and long-term growth. For example, the government of India is planning to increase public health spending to 2.5% of its GDP by 2025.

• By Technology, pattern recognition occupies the largest myoelectric prosthetics market share and is also expected to grow a significant CAGR during the forecast period.

• Latin America and Middle East and Africa will also show substantial growth of around 20.3% till 2027. In Latin America, the healthcare cost is considerably low, and the region shows similar dynamics as Asia-Pacific for this particular industry. Countries where the income levels are comparatively higher, like Argentina, Brazil and Uruguay are expected to drive growth of the myoelectric prosthetics market in the study period

• Specialty orthopedics are increasingly becoming an important End User, showing a CAGR of 19.1% during the forecast period

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For the purpose of this study, Reports and Data have segmented the Global Myoelectric Prosthetics by Product Type, by Technology, by End Users, and by Region:

Type Revenue, USD Million; 2017–2027)

• Upper-extremity prostheses
o Arm myoelectric prosthetics
o Hand myoelectric prosthetics
o Shoulder myoelectric prosthetics
• Lower-extremity prostheses
o 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

Regional analysis covers:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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