Research and Markets has announced the addition of the "Global Robotic Prosthetics, Exoskeletons and Assistive Rehabilitation Technologies Market Assessment & Forecast: 2015-2019" report to their offering.
MPC prosthetics demand has increased several folds in recent years due to increasing physical demand from amputees. According to aggregated data on amputation statistics by WHO, CDC, NHS, National Limb Loss Information Center and several clinical studies, approximately 80% of all lower extremity amputations are dysvascular amputations. Upper extremity amputations occur most prominently due to trauma incidents and congenital cases. CDC estimates suggest approximately 24 million diabetics live in United States alone and an estimated 150,000 people in U.S. are required various levels of amputations due to combined causes (vascular diseases, diabetes, trauma, industrial accidents, automobile accidents and military combat incidents). The increasing incidence is expected to be a moderately strong growth driver for this market throughout the forecast period.
MCPs have several potential advantages over traditional prostheses, including: reduced energy expenditure, improved ambulation, improved safety, and improved quality of life. They are also more expensive to purchase and fit than non-microprocessor-controlled prostheses (NMCP). Due to the cost of advanced prosthetics, they continue to be out of reach for most people. Even in developed countries the devices are not affordable to most as government insurance such as CMS deny reimbursing the prices what may be considered as exorbitant by many.
Most insurance experts maintain that the purpose of CMS and other public insurance payers is to compress the cost of these devices in order to make sure they are available for common masses. Bionic knees and ankles such as the genium, X3, BiOM T2 cost in excess of US$ 75,000. This is excluding the surrounding costs that require maintenance, spares and software upgrades of some types. 3D printing is also going to play a major role in this market in coming years. 3D printing is addressing several aspects of the prosthetics market particularly those concerned with aesthetic looks and functionality. This is because fitting every amputee has various challenges with respect to shape, size and comfort. 3D printing initiated into manufacturing of intelligent prosthetics will greatly reduce the price and make it more affordable to civilians.
Key Topics Covered:
3. Market Dynamics
4. Global MPC Prosthetics, Exoskeletons and Assistive Rehabilitation Technologies Market - Products, Size & Forecast: 2013 - 2019
5. Global Robotic Prosthetics, Exoskeletons, Assistive Rehabilitation Technologies Market - Geography, Size & Forecast: 2013 - 2019
6. Key Players Analysis: Global Market for Robotics in Healthcare, 2014 (%)
- Assistive Innovations Corp.
- Freedom Innovations
- Myomo Inc.
- Otto Bock Healthcare Plc
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