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Prosthetics Market Players Develop User-friendly Products to Attract New Customer Base, Notes TMR Report

·6-min read
Transparency Market Research
Transparency Market Research

Companies in prosthetics market are increasing R&Ds to develop products with an ability to advance the quality of life of amputees

Wilmington, Delaware, United States, July 05, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.: The global prosthetics market is estimated to register growth at a CAGR of 6% during the forecast period, from 2019 to 2027, notes a report by Transparency Market Research (TMR).

The TMR study offers in-depth insights on the prosthetics market. Hence, readers gain access to thorough study of the growth drivers, restraints, challenges, and opportunities in the market. This aside, the report sheds light on the prosthetics market statistics.

Players are using different strategies such as R&D and collaborations in order to sustain in the high competition levels of the global prosthetics market. Moreover, growing focus of companies on the new product launches is expected to help them in maintaining their leading positions in the global market. Hence, the market share for prosthetics market is estimated to reach a value of US$ 15 Bn by 2027.

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Prosthetics Market: Key Findings

  • Electrically powered/myoelectric technology is expected to be increasingly adopted in the forthcoming years. As a result, players operating in the global prosthetics market are increasing focus on R&D projects in order to develop electrically powered technology and fulfill specific needs of patients, according to analysts of a study by TMR.

  • Generally, powered prosthetic devices utilize plenty of electricity in order to work efficiently. Hence, researchers are concentrated on the development of advanced skin with an ability to store electricity. For instance, scientists from the University of Glasgow have created a combination of electronic skin that can help in storage and generation of electricity intended for prosthetic devices. Furthermore, companies are collaborating with scientists in order to achieve proficiency in electrically powered prosthetics, notes a global market study on prosthetics.

  • Scientists are focusing on the use of next-gen materials including graphite-polyurethane composite enclosed with graphene, which are electric supercapacitors with an ability to store energy and fulfill major energy conservation requirements of end-users. This aside, the graphene component are gaining traction owing to their ability to work as a solar panel that can transform sunlight into electricity and charge the supercapacitor. The adoption of such innovative technologies by players in the prosthetics market is helping them to create eco-friendly products, state TMR report analysts.

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Prosthetics Market: Growth Boosters

  • Increase in focus of players to develop user-friendly products that can improve the quality of life of amputees is driving the sales of prosthetics market

  • Rise in the older population in many developed and developing nations is leading to revenue-generation opportunities in the market for prosthetics

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Prosthetics Market: Regional Analysis

  • The prosthetics market in Europe is estimated to maintain its leading position during the forecast period owing to several factors including rise in the demand for cosmetic dentistry in the U.K.

  • The Asia Pacific prosthetics market is prognosticated to attract profitable prospects in the forthcoming years owing to rising production of prosthetics in some regional nations including South Korea and India. Moreover, the Asia Pacific market is being driven by factors such as increase in the older population in China and increase in focus of regional players on the development of cost-effective solutions.

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Prosthetics Market: Key Players

Some of the key players profiled in the report are:

  • Danaher Corporation (Nobel Biocare Services AG)

  • Straumann AG

  • Dentsply Sirona, Inc.

  • Zimmer Biomet Holdings, Inc.

  • Hanger, Inc.

  • BioHorizons, Inc.

  • Ohio Willow Wood Company

  • Össur

  • GaA, and Blatchford Group (Chas. A. Blatchford & Sons Ltd.)

  • Ottobock SE & Co.

Prosthetics Market Segmentation

Product

  • Orthopedic Prosthetics

    • Upper Extremity

      • Shoulder Disarticulation

      • Transhumeral

      • Elbow Disarticulation

      • Transradial

      • Wrist Disarticulation & partial hand

    • Lower Extremity

      • Foot Amputation

      • Transtibial

      • Knee Disarticulation

      • Transfemoral

      • Hip Disarticulation

  • Sockets

  • Liners

  • Others

  • Dental Prosthetics

  • Crowns

  • Bridges

  • Veneers

  • Inlays & Onlays

  • Dentures

  • Partial

  • Complete

  • Others

End User

  • Hospitals

  • Specialty Clinics

  • Dental Clinics

  • Others

Technology

  • Cosmetic Prosthetics

  • Cable Operated/Body Powered

  • Electrically Powered/Myoelectric

  • Others

Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:

Prosthetic Disc Nucleus Market: The prosthetic disc nucleus market was valued at ~US$ 92 Mn in 2019. It is anticipated to expand at a CAGR of ~8% from 2020 to 2030.

Dental Practice Management Software Market: The global dental practice management software market was valued at US$ 1,984.4 Mn in 2018 and is anticipated to expand at a CAGR of 11.4% from 2019 to 2027.

Dental Cements Market: The global dental cements market was valued at US$ 0.8 Bn in 2018 and is anticipated to grow at a CAGR of 5.0% from 2019 to 2027.

Dental Implants Market: The global dental implants market was valued at US$ 4.08 Bn in 2018 and is anticipated to expand at a CAGR of 7.1% from 2019 to 2027.

Dental Imaging Market: The global dental imaging market was valued at ~US$ 3 Bn in 2018. It is expected to expand at a CAGR of 8.5% during the forecast period from 2019 to 2027.

Dental Membrane and Bone Graft Substitutes Market: The global dental membrane and bone graft substitutes market was valued at ~US$ 620 Mn in 2018, and is projected to expand at a high CAGR from 2019 to 2027.

Dental Biomaterials Market: The global dental biomaterials market was valued over US$ 600.0 Mn in 2017 and is projected to expand at a CAGR of 5.8% from 2018 to 2026.

Orthopedic Navigation Systems Market: Rise in adoption of minimally invasive surgeries and increase in usage of navigation software by physicians and surgeons due to the availability of cost-effective solutions and higher awareness are projected to drive the global orthopedic navigation systems market.

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