Players in the prosthetics market are developing user-friendly products
Wilmington, Delaware, USA, July 5, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc.: The global prosthetics market is estimated to register growth at a CAGR of 6% during the forecast period, 2019 to 2027, notes a report by Transparency Market Research (TMR).
The TMR study offers in-depth insights into the prosthetics market. Hence, readers get access to an in-depth study of the market growth drivers, restraints, challenges, and opportunities. Apart from that, the report sheds light on the statistics of the prosthetics market.
The players are using different strategies such as R&D and collaborations in order to stay amid the high levels of competition in the global prosthetics market. Additionally, companies’ increasing focus on new product launches is expected to help them maintain their leading position in the global market. Hence, the market share of the prosthetics market is expected to reach a value of US$15 billion by 2027.
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Prostheses Market: main results
- Electric/myoelectric technology is expected to be increasingly adopted in the coming years. As a result, players operating in the global prosthetics market are increasingly focusing on R&D projects to develop electrical technology and address specific patient needs, according to analysts of a TMR study.
- Generally, electric prostheses use a lot of electricity to work effectively. Therefore, researchers are focusing on developing advanced skin with an ability to store electricity. For example, scientists at the University of Glasgow have created an electronic skin suit that can help store and generate electricity for prosthetics. Additionally, companies are collaborating with scientists to master electric prostheses, notes a global prostheses market study.
- Scientists are focusing on the use of next-generation materials, including a graphite-polyurethane composite surrounded by graphene, which are electrical supercapacitors capable of storing energy and meeting key energy conservation requirements of end users. . Apart from that, the graphene component is gaining traction due to its ability to function as a solar panel capable of converting sunlight into electricity and charging the supercapacitor. The adoption of these innovative technologies by players in the prosthetics market helps them to create environmentally friendly products, say analysts of the TMR report.
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Prostheses Market: Growth Boosters
- Increasing focus of players to develop user-friendly products that can improve the quality of life of amputees is driving sales of prosthetics market
- Rising elderly population in many developed and developing countries is creating opportunities for revenue generation in the prosthetics market
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Prostheses Market: Regional analysis
- The prosthetics market in Europe is estimated to maintain its leading position during the forecast period owing to several factors including increasing demand for cosmetic dentistry in the UK.
- The Asia-Pacific prosthetics market is expected to attract profitable prospects in the coming years owing to the increasing production of prostheses in some countries in the region including South Korea and India. Additionally, the Asia-Pacific market is driven by factors such as increasing elderly population in China and increasing focus of regional players on developing cost-effective solutions.
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Prostheses Market: key players
Some of the key players profiled in the report are:
- Danaher Corporation (Nobel Biocare Services AG)
- Straumann AG
- Dentsply Sirona, Inc.
- Zimmer Biomet Holdings, Inc.
- Hanger, Inc.
- BioHorizons, Inc.
- Ohio Willow Wood Company
- GaA and Blatchford Group (Chas. A. Blatchford & Sons Ltd.)
- Ottobock SE & Co.
Prostheses Market segmentation
- Orthopedic prostheses
- Upper limb
- Shoulder disarticulation
- Elbow disarticulation
- Wrist disarticulation and partial hand
- Inferior member
- foot amputation
- Knee disarticulation
- Hip disarticulation
- Upper limb
- Dental prosthesis
- Inlays and onlays
- Specialized clinics
- Dental clinics
- Cosmetic prostheses
- Cable Powered/Body Powered
- Electrically powered/myoelectric
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Modernization of healthcare in terms of infrastructure and services has pushed the healthcare industry to new heights, stay updated with Last Health Care Research Reports by Transparency Market Research:
Prosthetic Disc Core Market: The prosthetic disc core market was valued at around US$92 million in 2019. It is expected to grow at a CAGR of around 8% from 2020 to 2030.
Dental Practice Management Software Market: The global dental practice management software market was valued at US$1,984.4 million in 2018 and is projected to grow at a CAGR of 11.4% from 2019 to 2027.
Dental Cements Market: The global dental cements market was valued at USD 0.8 billion in 2018 and is expected to grow at a CAGR of 5.0% from 2019 to 2027.
Dental Implant Market: The global dental implant market was valued at USD 4.08 billion in 2018 and is expected to grow at a CAGR of 7.1% from 2019 to 2027.
Dental Imaging Market: The global dental imaging market was valued at approximately US$3 billion in 2018. It is expected to grow at a CAGR of 8.5% during the forecast period of 2019 to 2027 .
Dental Membrane and Bone Graft Substitutes Market: The global Dental Membrane and Bone Graft Substitutes market was valued around US$620 million in 2018 and is expected to grow at a high CAGR from 2019 to 2027.
Dental Biomaterials Market: The global dental biomaterials market was valued at over US$600.0 million in 2017 and is expected to grow at a CAGR of 5.8% from 2018 to 2026.
Orthopedic Navigation Systems Market: Rising adoption of minimally invasive surgeries and increasing usage of navigation software by physicians and surgeons due to availability of cost-effective solutions and more High awareness is expected to drive the global orthopedic navigation systems market.
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