The Asia Pacific Motorized Prosthesis Market would witness market growth of 11.6% CAGR during the forecast period (2022-2028).
The market for motorized prosthesis is poised for tremendous development as the frequency of impairments and amputations rises. To enhance the lives of those with impairments and amputations, governments and medical institutions are funding the creation and distribution of modern prosthesis.
Amputations are becoming more common due to increased instances of diabetes, blood vessel illnesses, malignancies, infections, excessive tissue damage, malfunction, pain, etc., which has accelerated the market's growth pace. Several stakeholders are involved in clinical trials to create innovative goods as the frequency of amputations rises globally due to various circumstances. The need for motorized prosthesis is expanding as a result of technology and prosthetic device improvements.
With the growth in diabetes-related disabilities and the frequency of auto accidents, lower limb amputation treatments are becoming increasingly widespread. In order to restore the biological functionality of lost body parts, the motorized prosthesis is built on a brain-computer interface. A complex network of motor and cognitive modalities makes up a motorized prosthesis. These tools, which include bladder control tools, are designed to support the operation of the autonomous nervous system.
Road accidents are one of the leading causes of deaths, incapacitating ailments, and hospitalizations globally, particularly in India. The World Health Organization estimates that at least one in ten people murdered on roads worldwide are Indians. Road safety is still a significant development problem, a public health issue, and a primary cause of death and injury across the globe. According to the World Health Organization, at least one out of every ten individuals murdered on roads throughout the globe is an Indian. According to the Indian government, a total of 4,12,432 road accidents were registered in the nation in 2021, killing 1,53,972 deaths and injuring 3,84,448 people. The key factor driving the development of the motorized prosthesis market in the Asia Pacific region is the increase in traffic accidents and the injuries they cause.
The China market dominated the Asia Pacific Motorized Prosthesis Market by Country in 2021 and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,146.7 Thousands by 2028. The Japan market is estimated to grow a CAGR of 10.9% during (2022 - 2028). Additionally, The India market would experience a CAGR of 12.3% during (2022 - 2028).
Based on End User, the market is segmented into Hospitals, Prosthetic Clinics, Rehabilitation Centers and Others. Based on Type, the market is segmented into Passive, Active and Hybrid. Based on countries, the market is segmented into China, Japan, India, Australia, South Korea, Singapore, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Motorized Prosthesis Market is Projected to reach USD 98.2 Million by 2028, at a CAGR of 10.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ossur Hf, Ottobock SE & Co. KGaA, Hanger, Inc. (Patient Square Capital), Advanced Arm Dynamics, Inc., Bionic Prosthetics & Orthotics Group LLC, Integrum AB, Dr. Fritz Faulhaber GmbH & Co. KG, and Sensars Neuroprosthetics.
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