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Sales of Artificial Limbs Market to Grow 1.4X by the End of 2025
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The artificial limbs market is projected to grow 1.4X by 2025, driven by advancements in prosthetic technology and AI, with North America leading the market.
The following five to seven years are projected to witness a sustained upshift in investments and exponential improvements in the artificial limbs market. The soft and pliant nature of advanced prosthetic materials to protect underlying skin from residual damage is having a significant effect on their rate of adoption.
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Mind-controlled humonic solutions are a radical breakthrough in research related to artificial limbs. These solutions can restore the unmet needs of lost sensation and human-like aesthetics, including gestures and volitional control. Extensive research in the field of artificial intelligence aimed at better quality of life for amputees is fuelling the growth of the artificial limbs market. Fact.MR, in its newest report, reveals that, the artificial limbs market is all set to witness a healthy CAGR of 6% through the forecast period (2020 – 2025).
Key Takeaways of Artificial Limbs Market
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“Clinical service networks, strong clinical teams, high focus on the marketing of products, and market diversification will be the key tenets of success for market players operating in the artificial limbs market”, says a Fact.MR Analyst.
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Product Innovations and Well-timed Partnerships Lead to a Top-Heavy Competition Landscape
The artificial limbs market is highly consolidated in nature, with Ossur, Ottobock, and Hanger among the key players. Leading players have established a strong foothold in the market through strong teams, innovation, a highly-nuanced product portfolio, and timely acquisitions. For instance,
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The post Sales of Artificial Limbs Market to Grow 1.4X by the End of 2025 appeared first on Latest Market Reports.
The article discusses the growth and advancements in the artificial limbs market, projected to expand by 1.4X by 2025.
Innovations in mind-controlled prosthetics and AI are significant drivers of market growth.
North America leads the market, with significant growth expected in the Asia Pacific region.
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