The Latin America, Middle East and Africa Motorized Prosthesis Market would witness market growth of 13.1% CAGR during the forecast period (2022-2028).
The motorized prosthesis is a relatively new technology that has been embraced by a sizable portion of the affected patient population. The motorized prosthesis is based on the integration with the nervous system and conducts the functioning of the substituted body part by a controller that upholds the compatibility between the patient's neural and muscular systems. The actuators of a motorized prosthesis are controlled by commands from the user, and the device's biosensors provide feedback.
As compared to motorized leg prosthesis, motorized hand prosthesis are more often used. The development of motorized prosthesis depends heavily on information technology. There are other programs that have been run, including open-source robotic prosthesis, in which players collaborate to enhance technology while also cutting down the price of the devices by leveraging 3D printing for custom production.
The UAE boasts a robust healthcare infrastructure as one of the Middle East's most economically advanced and diverse marketplaces. The UAE's healthcare industry has grown to accommodate its population's changing requirements and its aspiration to establish itself as a regional center for medical tourism. In addition, the UAE has increased its commitment to investing in healthcare as a result of the COVID-19 pandemic. Consequently, the area has broadly adopted modern technology to provide superior healthcare facilities. As a result, the regional market for motorized prosthetics will grow in the following years.
The Brazil market dominated the LAMEA Motorized Prosthesis Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,490.2 Thousands by 2028. The Argentina market is experiencing a CAGR of 13.7% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 12.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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