Global Myoelectric Prosthetics Market Key Vendor Analysis 2022

Posted by sandeep gade on December 20th, 2022

Owing to the high adoption of advanced technologies and advancements in AI technology in the healthcare sector, the global myoelectric prosthetics market recorded a market value of US$ 149.9 Mn in 2021. It is expected that this market will expand at a CAGR of 5.2% over the forecast period (2022-2032).

Myoelectric prosthetics have several benefits as compared to body-powered devices, such as access to effortless strength, less harnessing, multiple grip patterns, and more natural hand movements. Motors and batteries are built into myoelectric prosthetics so that they can move while being ultimately controlled by electrical impulses produced by muscles in the residual limb. Muscle contraction results in an electrical signal being released. Electrodes positioned on the skin inside the socket of a prosthetic device sense these muscle impulses and transmit them to a controller, which causes movement following the user's intentions.

It is concerning that, there are more and more people developing chronic illnesses such as diabetes. WHO estimates that this condition affects over 422 million people globally, a majority of whom reside in low- and middle-income nations, and diabetes is directly responsible for 1.5 million fatalities annually. According to the Amputee Coalition, 55 percent of people who have lower extremity amputations would need a second amputation within two to three years after the first amputation. This has led to a growth in the market for myoelectric prosthetics for those who have had amputations as a result of diabetes.

Key Takeaways from Market Study

•          Transradial disarticulation (below elbow) held 15.7% market share, by indication, in 2021.
•          By end user, patients prefer hospitals more and the segment held a market share of 44.6% in 2021.
•          Around 38% of the global market share, by region, was accounted for by North America in 2021.

“High prevalence of diseases such as peripheral arterial disease and rise in cases of amputations will propel market growth over the coming years,” says an analyst of Persistence Market Research.Buy Full Report Now and Get Up to 20% Discount: https://www.persistencemarketresearch.com/checkout/25252

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