LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the robotic prosthetics market in the US to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the emergence of mind-controlled humonics as one of the key emerging trends in the robotic prosthetics market in the US. The advent of mind-controlled humonics solutions is expected to change the dynamics of robotic prosthetics devices in the long term. Humonics can satisfy the unmet needs of lost sensation and volitional control and the development of human-like aesthetics such as gestures, which is not possible with orthopedic prosthetics. Humonics with sensory feedback technology will provide mind-controlled, user-centric prosthetics, which provide complete control to the user. Such devices with advanced technologies can change the lives of people who have lost body parts due to trauma or diseases.
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In this report, Technavio analysts highlight the growing target population and focus on restoring mobility and independence of amputees as a key factor contributing to the growth of the robotic prosthetics market in the US:
Growing target population and focus on restoring mobility and independence of amputees
In countries such as the US, there has been a significant increase in the number of people who require artificial limbs. The increasing number of trauma cases and accidents and the growing prevalence of diabetes and congenital diseases are driving the demand. People lose body parts such as upper or lower limbs due to accidents, trauma, or chronic diabetes. In 2015, more than 260,000 older people were treated in emergency departments for motor vehicle crash injuries, which accounted for 712 injuries every day. In the US, each year, about 1,500 babies are born with upper limb reductions, and about 750 babies are born with lower limb reductions. Each year, about four out of 10,000 babies have upper limb reductions, and about two out of 10,000 babies have lower limb reductions. Some babies have both upper and lower limb reductions.
According to a senior analyst at Technavio for orthopedics and medical devices, “The growing target population and focus on restoring the mobility and independence of amputees will drive the growth of the robotic prosthetics market in the US during the forecast period.”
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Robotic prosthetics market in the US – segmentation analysis
This market research report segments the robotic prosthetics market in the US into the following products (lower limb robotic prosthetics and upper limb robotic prosthetics) and end-users (orthotic and prosthetic clinics, hospitals, and specialty orthopedic centers).
Of the three major end-users, the orthotic and prosthetic clinics segment held the largest market share in 2017, accounting for nearly 62% of the market. These centers reduce the time taken for treatment, the duration of stay in the facility, and the cost of treatments and surgeries. Hence, their adoption is increasing, which will drive the growth of the segment.
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