Market Trends of Upper Limb Prosthetics Industry
This section covers the major market trends shaping the Upper Limb Prosthetics Market according to our research experts:
Myoelectric Expected to Hold Significant Share in the Upper Limb Prosthetics Market
Electric prostheses, also commonly known as myoelectric prostheses, are controlled using electric signals, which are actually created by the body muscles. Specifically, these electric-powered prosthetics work by using the user's existing muscles in the residual limb in order to control the functions of the prosthetic device itself. A sensor present within the device is able to obtain electrical signals from these muscles. Then it translates those signals into movements and executes the demands properly. Hence, these have become a great option for those who want a natural-looking prosthesis that utilizes existing nerves for functional use. There are severe issues associated with traumatic cases, which include amputation, the loss of a body part, usually a finger, toe, arm, or leg, which occurs as the result of an accident or injury, hence the high incidence of various types of injuries is expected to drive the demand for such prosthetics, across the world.
Additionally, recent product launches will also contribute significantly to the market growth. For instance, in September 2021, Steeper Group launched its Myoelectric System. This system is designed to offer patients and clinicians across the globe a durable, high-capacity upper limb system at an affordable cost.
Moreover, recent technological advancements and studies proving the efficacies of myoelectric prosthetics are expected to contribute to the studied market. For instance, a study "Myoelectric untethered robotic glove enhances hand function and performance on daily living tasks after stroke," published in December 2020, suggests that myoelectric untethered robotic gloves enhance the motion and bimanual task performance and motivate people to use their muscles during engaging activities of daily living.
Thus, due to the above-mentioned factors, the studied segment is expected to grow significantly over the forecast period.
North America is Expected to Dominate the Upper Limb Prosthetics Market
The key factors driving the growth of the market in North America include the direct presence of key regional players, a strong distribution network, and a well-established healthcare infrastructure. Recent trends in the North American upper limb prosthetics market include the use of new polymer materials and the development of prosthetic devices as per the functional need of patients. Manufacturers are concentrating on developing lightweight yet highly long-lasting orthopedic prosthetics to satisfy the needs of the users. These factors boost the market in North American countries.
Technological advancements in the field of upper limb prosthetics in the United States will drive the market. For instance, in September 2021, Cleveland Clinic researchers engineered a first-of-its-kind bionic arm for patients with upper-limb amputations that allows wearers to think, behave and function as a person without an amputation. It will enable patients to send nerve impulses from their brains to the prosthetic when they want to use or move it and to receive physical information from the environment and relay it back to their brain through their nerves.
Thus, due to the above-mentioned factors, the upper limb prosthetics market is expected to grow significantly in the North American region during the study period.
