Increasing number of Critical Limb Ischemia (CLI) cases across the world, along with high investments in 3D printing technology for medical development will drive the market at a high CAGR during the forecast period.

Market Size- USD 165.87 Million in 2018, Market Growth- CAGR of 18.7%, Market trends- Rise in diabetes and other lifestyle related illnesses leading to Critical Limb Ischemia (CLI), coupled with increasing accidents requiring limb amputation from the Asia Pacific region is boosting the global myoelectric prosthetics market, North America expected to register the largest market share during the forecast period

According to the current analysis of Reports and Data, the Global Myoelectric Prosthetics market was valued at USD 165.87 million in 2018 and is expected to reach USD 656.99 million by year 2026, at a CAGR of 18.7%. The market for prosthetics is growing out of critical customer needs. Although relatively uncommon a few years ago and still very costly in many parts of the world, this is an industry that has grown from its nascent to the advanced stages very rapidly. Myoelectric prosthetics as a market can be divided into several segments and sub-segments. It also incorporates new age technology for the function of prosthetics. Many of these technologies are still relatively new, especially finite state machine control and pattern recognition technology, and further research is required in the field to streamline glitches due to improper handling. The product range is also very wide, and so is the scope and need for specializations. Significant progress made in the fields of signal processing, sensory substitution and pattern recognition for myoelectric prostheses has allowed for improvements in the performance of myoelectric control.

Key companies profiled in the report include

Ottobock SE & Co. KGaA, Steeper, Inc., Human Technology, Inc., Touch Bionics, Inc., Liberating Technologies, Inc., Coapt, LLC, Aetna, Inc., Ambionics Pvt Ltd., OpenBionics, Shadow Robot Company

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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Myoelectric Prosthetics market.

The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.

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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.

The key geographical regions analyzed in the market report are:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Myoelectric Prosthetics Market Segmentation based on Types:

Type Revenue, USD Million; 2016–2026)

Upper-extremity prostheses
Arm myoelectric prosthetics
Hand myoelectric prosthetics
Shoulder myoelectric prosthetics
Lower-extremity prostheses
Leg myoelectric prosthetics
Hip joint myoelectric prosthetics
Technology Revenue, USD Million; 2016–2026)

Proportional control
On–off control
Machine learning
Finite state machine
Pattern recognition
Postural control
End Use Revenue, USD Million; 2016–2026)

Specialty Orthopaedic Clinics
Hospitals
Others
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Further key findings from the report suggest-

Increasing number of trauma and accident cases are leading to limb amputations, multiplying the need of myoelectric prosthetics. Upper limb prosthetics are the highest growing sub-segment in the Product Type segment.
North America had the leading share in the myoelectric prosthetics market in 2018, chiefly because of the converging trends of their increased adoption rate of new technology, rise in the number and cases of Critical Limb Ischemia (CLI) and increased investments in the field.
Asia Pacific region will witness the highest CAGR during the forecast period on account of estimated rise in the numbers of road and vehicular accidents requiring amputations and an increased need of low-cost solutions to provide prosthetics.
China and India are expected to witness a huge surge in this market, as the industry is geared towards countries which have a higher population (thus leading to a larger addressable market for companies). As accidents continue to rise in the Asia Pacific region, with public healthcare expenditures continuing to increase, the industry is expected to see a stable and long-term growth. For example, the government of India is planning to increase public health spending to 2.5% of its GDP by 2025.
By Technology, pattern recognition occupies the largest myoelectric prosthetics market share and is also expected to grow a significant CAGR during the forecast period.
Latin America and Middle East and Africa will also show substantial growth of around 20.3% till 2026. In Latin America, the healthcare cost is considerably low, and the region shows similar dynamics as Asia-Pacific for this particular industry. Countries where the income levels are comparatively higher, like Argentina, Brazil and Uruguay are expected to drive growth of the myoelectric prosthetics market in the study period
Specialty orthopedics are increasingly becoming an important End User, showing a CAGR of 19.1% during the forecast period
Many companies such as
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