Increasing Research and Development Activities to Augment the Intelligent Prosthetic Market Growth

Intelligent Prosthetic Market


 Intelligent prosthetics are motorized, partially synthetic or fully synthetic limbs that can be used by individuals with certain physical impairments. Most individuals who suffer from some form of physical impairment or loss of limbs utilize artificial prosthetics which replace their lost body parts. These extensions usually utilize a blend of human muscle and specialized mechanical devices to manipulate and move as a replacement limb.

Intelligent prosthetic limbs can be controlled via a series of hand movements, touch, and other movements normally associated with natural movement. Although these limbs do not yet have all the functions of a real limb, they do provide the missing body part users with the ability to perform the tasks they would otherwise be unable to.

Market Dynamics:

Increasing number of road accidents and trauma injuries, increasing prevalence of vascular disease, and growing prevalence of chronic and surgical wounds is expected to propel the intelligent prosthetic market growth. For instance, according to the Amputee Coalition of American, around 2 million people living with limb loss in the United States. The main causes are vascular disease, such as diabetes and peripheral arterial disease, trauma, and cancer.

Increasing research and development activities and technological advancements, such as the use of arterial intelligence and machine learning, are also expected to augment the growth of the intelligent prosthetic market. For instance, in September 2019, researchers from Ecole polytechnique federale de Lausanne (Swiss Federal Institute of Technology Lausanne) research institute in Switzerland developed a prosthetic hand that uses artificial intelligence to adapt to the user’s finger movement.

North America and Europe are expected to witness robust growth in the intelligent prosthetic market due to increasing research and development activities and technological advancements in the region. For instance, in November 2019, the University of Utah, United States, developed a prototype of leg prosthetics that can anticipate and respond to the actions of its users, providing a very natural walking gait, improving the overall balance, and walking power.

Competitive Analysis:

Major players operating in the intelligent prosthetic market are US Bionics, Inc., Ekso Bionics Holdings Inc., Open Bionics, Touch Bionics, Intelligent Prosthetic Systems, LLC, and Blatchford.

In November 2020, Exactech launched its Active Intelligence platform of technologies to expand its smart technology portfolio to better connect surgeons and patients with personalized, data-driven tools. Moreover, in August 2020, Ekso Bionics unveiled EVO, an endurance-boosting assistive upper body exoskeleton that alleviates the burden of repetitive work.

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