Prosthetics, implants and mobility aids are generally designed to support and enable proper functionality of body parts that have been damaged or disabled. Prosthetics are artificial medical devices manufactured to replace missing body parts lost due to congenital condition, traumatic injury or any disabling illness. Similarly, implants are medical devices or tissues that are surgically transplanted either permanently or temporarily in the body to support or replace damaged body parts. Additionally, mobility aids offer assistive mobility to individuals with disabilities.
Global prosthetics market is classified by applications into dental, orthopaedic, neuroprosthetic and others, of which, orthopaedic prosthetics capture majority of the market. Based on technology, the market is segmented into conventional, electric-powered and hybrid prosthesis. Electric-powered prosthetics account highest market share, attributing to increasing healthcare expenditure and technological advancements.
With increasing demand of prosthetics, manufacturers are concentrating over developing customized prosthetics as per functionality need, and in addition they are shifting to light-weight & durable polymer materials. Currently, robotic prosthetics using biosensors are gaining popularity due to their ability to control muscle contractions and nerve impulses.
Global implants market is broadly segmented into orthopaedic, neurosimulation, cardiovascular and others. Out of these segments, neurosimulation contributes highest to the implants market attributing to increase in FDA approvals to clinical trials, technological advancements and development of advanced implantable neurosimulation devices. However, high associated costs and stringent approval process for specialized devices are expected to restrain market growth.
Mobility aids consist of manual as well as motorized devices including stair lifts, mobility scooters and motorized wheelchairs. Industry is witnessing shift from motorized wheelchairs to mobility scooters supported by decreasing cost. Increasing government healthcare investments and technological advancements are contributing to industry growth; however, market is facing challenge due to uncertain reimbursement policies.
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