GLOBAL ARTIFICIAL MUSCLE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global Artificial Muscle Market, By Type of Material (Dielectric Elastomers, Liquid Crystal Elastomers, Ferromagnetic Shape-Memory Alloys, Nanowires and Carbon Nanotubes and Others), By Application (Medical Devices, Wearable Devices, and Prosthetics), By Actuation Method (Pneumatic Actuation, Hydraulic Actuation, Chemical Actuation, Thermally Actuated and Others), By End User (Hospitals, Clinics, Ambulatory Surgery Centers and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Growing demands for robotic prosthetics: The demand for robotic prosthetics is steadily rising with increasing injuries, accidents, and congenital disabilities. More advanced robotic prosthetics are helping many to regain near normal mobility and functionality. These next generation prosthetics often rely on advanced artificial muscles which mimic real human muscles. As a result of rising needs for such advanced prosthetics, the market for artificial muscles is experiencing significant growth. Several reports point to the growing prosthetics demand. According to the article published by World Health Organization (WHO) 2021, over 1 Mn people undergo amputation annually worldwide due to various reasons. Another report published by the American Academy of Orthopedic Surgeons in 2021, states, around 185,000 amputations occur each year in the U.S. alone and the incidence is predicted to increase with diabetes and vascular illnesses becoming more widespread. As demands for high-end prosthetics matching natural counterparts rises, the artificial muscles market catering to prosthetic devices, exoskeletons, and robotics is projected to experience continued growth in the near future. The market is shifting from simple actuators to truly biomimetic solutions
Rising demand for advanced wearable exoskeleton devices: The demand for advanced wearable exoskeleton devices that can enhance human strength and endurance has been steadily growing in recent years. These powered exoskeleton suits use artificial muscles which mimic the functioning of human muscles, thereby allowing the wearer to perform tasks that require heavy lifting or extensive manual labor with greater ease. According to a report published by the World Health Organization in 2021, over 1 billion people globally will be living with some form of disability by 2050 due to increased aging populations and rising rates of chronic health conditions. This rising prevalence of disabilities and related healthcare issues is anticipated to further drive the adoption of powered exoskeleton devices for medical and personal assistance over the next decade. Similarly, the industrial sector will also continue embracing such strength-augmenting wearable to a greater extent in order to cope with evolving workforce challenges stemming from demographic shifts. This consistent growing demand across key application areas will keep propelling the artificial muscle market forward in the near future.
Rising prevalence of chronic diseases: As chronic diseases continue affecting more populations globally due to aging, sedentary lifestyles, and other risk factors, the demand for assistive technologies will rise substantially. The artificial muscle industry is therefore expected to witness significant growth opportunities over the next decade. Products catering to therapy, rehabilitation, and elderly care will be in more demand. According to projections by healthcare experts consulted by Pan American Health Organization (PAHO), musculoskeletal conditions alone will impact over 1.7 billion people and cost US$ 1.5 trillion annually by 2050 if preventive actions are not strengthened. This clearly exemplifies the looming socio-economic burden and unmet need for effective solutions, thereby propelling the artificial muscle technology market.
Emerging economies present large patient pool: The World Health Organization (WHO) reports that noncommunicable diseases (NCDs) burden is increasing most dramatically in developing nations, with heart disease, stroke, diabetes and cancer deaths projected to increase over 50% by 2030 in these countries. This sharp NCD growth will add extensive new demand in the healthcare sector, including demand for assistive devices powered by innovative technologies like artificial muscles. Their versatility and lower cost makes them appealing options for emerging markets grappling with overburdened healthcare systems and growing disease problems. If developed for specific medical applications, artificial muscle devices could help address both the widening treatment gap and economic concerns in developing nations.
Growing application areas: Novel applications are being developed to improve existing treatments. For example, artificial muscle pumped gastric balloons are in clinical trials for weight loss management. Compared to existing balloon alternatives, these are potentially safer and more comfortable as muscle action mimics natural peristalsis. Other applications include precision drug delivery pumps and wound closure systems. Artificial muscle bands could even be embedded in sutures to expedite post-operative recovery. Furthermore, researchers are working on artificial muscles that can mimic whole organs and metabolic functions outside the body. According to the report published by the United Nations Department of Economic and Social Affairs, in 2021, over 820 Mn people suffered from hunger in 2020 with climate change exacerbating food insecurity worldwide. Laboratory prototypes of artificial muscle powered hydroponic farms show promise for sustainable indoor crop production regardless of weather or land constraints. Such innovations may boost food supply reliability and global health nutrition levels in the future.
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