Intelligent Prosthetics Market is expected to enjoy a valuation of US$ 747.4 Million by the end of 2022,

[279 Pages Report] As per Future Market Insights, the global intelligent prosthetics market was around US$ 707.8 Mn in 2021 and is projected to exhibit a CAGR of close to 6.1% over the forecast period (2022-2032), with an estimated valuation of US$ 1.35 Bn in 2032.

The intelligent prosthetics market is growing due to the rapid adoption of high-tech-based devices, which is improving the efficiency and overall output of orthopedics treatment. This is creating an opportunity for the patients for faster recovery and lesser time of stay within a clinical environment.

Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15497

With time, component costs are expected to decrease, and these technologies are considered to be a crucial component of prosthetics. The market is further expected to gain traction on the back of rising prevalence of diabetes. According to the International Diabetes Federation, an estimated 537 million adults ranging from the age group of 20-79 years are expected to have diabetes in 2021.

According to projections, there would be 643 million diabetics worldwide by 2030 and 783 million by 2045. In some of the cases, majority of people with diabetes undergo amputation and are in need of prosthetics. This has led to growth in intelligent prosthetics market.

Further, incorporation of advanced technology such as myoelectric technology, prosthetic control, sensing technology, robotics, AI, and others, is making the end product more advanced and efficient than other traditional prosthetics.

Hence, growing number of government financing programs and activities by nonprofit groups have provided revenue for the intelligent prosthetics market. High research & development expenditures result in the development of intelligent mechatronics and cutting-edge sensing and control for the recovery of lost sensorimotor functions, thereby driving the market expansion.

For instance, ElanIC, the world's lightest and most compact waterproof microprocessor hydraulic ankle, was introduced by Blatchford in August 2020.

Ask An Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-15497

Key Takeaways from Market Study

Lower extremity prosthetics is leading in the product segment, and held approximately 4% of value share in 2021.
By distribution channel, prosthetic clinics is slated to expand at a CAGR of 0% during the forecast period.
Europe held a revenue of about US$ 212.2 Mn with a market share of 0% in the global intelligent prosthetics in 2021.
North America is considered to be the leading region with a value share of 6% in 2021, with the U.S. leading the growth in the market.
East Asia is considered to be one of the most lucrative market, with China and South Korea spearheading the growth in the market

"Risk of amputations associated with underlying disease conditions such as diabetes and pulmonary arterial disease, is set to propel the sales of intelligent prosthetics across the globe. Hence, key players are integrating AI and software such as CAD to provide advanced care for the patients and gain competitive edge," says an analyst of Future Market Insights.

Market Competition  

The market for intelligent prosthetics is consolidated, and there exist prominent key players in the market sphere. Product launches, expansion, collaboration, and attaining regulatory approvals are the key steps taken by the companies in the field of manufacturing material for intelligent prosthetics

Blatchford introduced EchelonER, a hydraulic ankle, in September 2020. By incorporating an expanded range of ankle movement with all the distinctive features and award-winning technology of Echelon, EchelonER expands their product line.
In October 2021, Ottobock introduced the latest addition to its WalkOn family, the 28U22 WalkOn Flex Junior. It is designed for children with mild to moderate drop foot.

Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-15497

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the intelligent prosthetics market in its latest study, presenting a historical demand assessment of 2012 - 2021 and projections for 2022 - 2032. The global intelligent prosthetics market is segmented in detail to cover every aspect of the market and presents a complete market intelligence approach to the reader.

The research study is based on the product- (upper extremity prosthetics and lower extremity prosthetics), and distribution channel (hospitals, prosthetic clinics, rehabilitation centres, and others), across seven key regions of the world.

Key Players :

Sarcos Technology and Robotics Corporation
Ktwo Healthcare Pvt. Ltd.
Touch Bionics Inc.
HDT Global
SynTouch, Inc.
Artificial Limbs & Appliances
Ottobock
Ossur Americas
Blatchford Group
Manta Product Development

Key Market Segments Covered In Intelligent Prosthetics Industry Research

By Product:

Upper Extremity Prosthetics
Lower Extremity Prosthetics

By Distribution Channel:

Hospitals
Prosthetic Clinics
Rehabilitation Centre
Others

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.