NANOENGINEERED PROSTHETICS MARKET ANALYSIS

Market Challenges And Opportunities

Leading manufacturers are focused on collaborations with researchers to develop products in the global nanoengineered prosthetics market. For instance, in August 2019, researchers at Medical University of Vienna in collaboration with Otto Bock Healthcare Products, Alfred Mann Foundation, and Imperial College London developed a prosthetic arm with few built-in electrodes, which makes contact with the patient’s skin and results in opening and closing of the prosthetic arm claw. Moreover, researchers at the University of Chicago are developing brain-controlled prosthetics, which can be achieved by implanting electrodes in the motor cortex region of the brain. The changes taking place in the motor area by using electrodes can be recorded and accordingly the robotic arm can be manufactured and attached to the patient as a prosthetic.

Higher incidences of limb loss in the global population has been reported. For instance, according to the National center for Biotechnology Information, (NCBI), 2017, limb loss may occur in people suffering from disease, injury or surgery, while congenital limb loss exists from birth. Out of total amputations, lower limb and upper limb amputations account for 84% and 16% respectively. According to the same source, a person suffering from diabetes has chance of 10-30 times more of undergoing lower limb amputation as compared to the general population. Moreover, according to the same source, around 20%-50% of diabetes – amputees, world-wide, will require a second leg amputation within one to three years, and over 50% of the people undergone amputation in one limb will require another amputation within five years.

There are certain advantages of using nanoengineered prosthetics over conventional prosthetics such as nanoengineered prosthetics have better compatibility with the body or the body parts in which they are incorporated, enhance mechanical stability, improved durability, fast integration of the prosthetics in the body or organ of the patient, optimal design, high fatigue resistance, high wear resistance, better hygiene, less toxicity, and greater strength.

Global Nanoengineered Prosthetics Market Restraints

Alternative options for nanoengineered prosthetics are expected to restrain global nano engineered prosthetics market growth over the forecast period. Osseo integration is the alternative surgical method for prosthetic users, in which the load bearing metal is in direct contact with the bone of the arm or leg and penetrates through skin. It directly attaches to the removable prosthesis through a connector. According to National center for Biotechnology Information, (NCBI), Osseo integration is widely used procedure for amputation in Europe and Australia. Moreover, advantages of Osseo integration is that it is easy to wear and take off.

There are some disadvantages of using nano engineered prosthetics as compared to other conventional prosthetics. For instance, it is an expensive treatment and may lead to side-effects, or even complete rejection of implantation may occur in patients using the prosthetics. These factors are expected to restrain the global nano engineered prosthetics market growth over the forecast period.