The global nanoengineered prosthetics market is expected to grow at a high CAGR over the forecast from 2011 to 2021. This growth can be attributed to the constant development in medical science. Availability of more than 5000 different products ranging from microelectronics to microbiology can impel the market demand.
Nanoengineering is the engineering that is practiced on the nanoscale. Although, it is synonymous to nanotechnology, nanoengineering focuses more on engineering than pure science. Prosthetics is the evaluation, production, & custom fitting of synthetic limbs, called as “prostheses”. These limbs improve functionality and lifestyle of the patient that are suffering from limb loss. These artificial limbs must be an exclusive combination of appropriate materials, construction, design, and alignment for utmost usefulness.
Nanotechnology is often described as the transformational technology. It can enable development of the highly innovative novel concepts in medical devices. A lot of metal alloys are fundamentally utilized in prosthetic implants. These alloys were previously deployed in the aircraft industry. However, emphasis is now being laid upon specific advanced material concepts that can cast enormous impact on healthcare, prosthetics, and drug delivery.
High adoption from medical sector and rapid technological advancements are some of the other key market drivers. High potential of ceramic nanocomposites is anticipated to promote investments from key players dealing with this technology. All these factors are anticipated to positively impact growth of the market for nanoengineered prosthetics over the next few years. High number of accidents is another vital driving factor.
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The worldwide market for nanoengineered prosthetics is categorized into types, applications, and regions. On the basis of types, the segments are type I, II, and III. As per applications, the market is divided into pharmaceuticals & healthcare, defense, aerospace, biomedical, food, and energy.
Geographically, the overall market is segmented into Latin America, North America, Asia Pacific (APAC), Middle East & Africa (MEA), and Europe. North America is anticipated to dominate the global market on account of demand during the forecast period. Growth in elderly population base that needs special medical services is the key regional driver.
APAC is projected to witness an impressive CAGR over the next few years. Extensive research & development activities in nanotechnology and medicine can propel the regional market during the forecast period. Middle East & Africa can register a reasonable CAGR till 2021. Presence of developing infrastructure and availability of fewer medical services may influence the growth in the forthcoming years.
Some of the major participants operating in the global nanoengineered prosthetics market are Hybrid Plastics Inc.; Starpharma Holdings; and NanoMaterials Ltd. “Artificial electronic skins” is one of the emerging biomedical & healthcare applications. Biological skin-based sensory receptors such as thermoreceptor & mechanoreceptors can collect and pass on physical variables streams from the outer environment.
Despite considerable developments in the understanding of thermo- & mechano-sensations, imitation of these exclusive sensory capabilities in prosthetics & artificial skins is still a vague objective. However, some recent developments in sensor-integrated prosthetics & artificial skins designs incorporated with semi-flexible & rigid sensing devices may provide promising alternatives and innovative applications.
Research Support Specialist, USA
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