Global Intelligent Prosthetics Market Research Report provides key analysis on the market status of the Intelligent Prosthetics with best facts and figures, meaning, definition, SWOT analysis, expert opinions, and the latest developments across the globe. The report also calculates the market size, Sales, Price, Revenue, Gross Margin, and Market Share, cost structure, and growth rate. The report considers the revenue generated from the sales of This Report and technologies by various application segments and Browse Market data Tables.
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Global Intelligent Prosthetic Market Overview
The intelligent prosthetic is intended for those amputees who need help walking but do not wish to wear a full-body mobility aid such as a wheelchair or a walking stick. Its artificial intelligence allows it to make precise adjustments to the user’s gait in order to provide the optimum level of support and increase the chance of full recovery. As such, the device can be used for people with complete spinal cord injuries, spinal stenosis, herniated discs, and conditions that affect the muscles surrounding the limbs such as diabetes. The global intelligent prosthetic market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global intelligent prosthetic market is expected to witness significant growth during the forecast period, owing to technological advancements in implants.
Competitive Section
Major companies involved in the global intelligent prosthetic market are Blatchford, US Bionics Inc., Touch Bionics, Open Bionics, and Ekso Bionics Holdings Inc.
For instance, in June 2020, Unlimited Tomorrow Inc. launched TrueLimb, a next-generation prosthetic arm
By product type, the market is primarily segmented into
- Upper Limbs
- Lower Limbs
By the End-user Applications, the market is primarily segmented into
- Hospitals
- Clinics
- Rehabilitation Centers
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Market Drivers
An increasing number of trauma cases and accidental injuries are expected to drive the growth of the global intelligent prosthetics market during the forecast period. According to the World Health Organization (WHO), around 20 to 50 million suffer non-fatal injuries in road accidents with around 1.34 million dying in road accidents each year worldwide. According to the National Center for PTSD, around 6 out of 10 men and 5 out of 10 women experience at least one trauma in their lives. This, in turn, has increased the demand for prosthetics. Hence, such factors are expected to drive the growth of the global intelligent prosthetics market during the forecast period. Furthermore, technological advancements in implants are expected to propel the global intelligent prosthetic market growth over the forecast period.
Market Restraint
The high cost associated with implants is expected to restrain the growth of the global intelligent prosthetics market during the forecast period.
Regional Insights
Among regions, North America is expected to witness significant growth in the global intelligent prosthetics market during the forecast period. This is owing to the presence of robust healthcare infrastructure in the region. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to improving healthcare infrastructure in the region.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. In this segment, we will give you the impact of COVID-19, how it affected the Intelligent Prosthetics market, and how it will change the industry’s future depends on the current government, private, and public situations. Our expert analysts keep an open eye on every situation that may change the flow of the industry which will help you make the best possible decision for your enterprise.
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The objective of the study is to define the Intelligent Prosthetics market sizes of different segments and countries in previous years and to forecast the values for the next five years. The report is designed to incorporate both qualify qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about crucial aspects such as drivers and restraining factors that will define the future growth of the Intelligent Prosthetics market.
Report Coverage
- Provides comprehensive understanding of the Intelligent Prosthetics market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors, and Porter’s five analysis
- Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
- Uncovers potential demands in the market
- Porter analysis identifies competitive forces within the market
- Provides information on the historical and current market size and the future potential of the market
- Provides sizes of key regional markets using yardsticks of processes, segments, products, end-user, and technology, etc (as applicable)
- Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments, and merger acquisitions
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