Burlingame, March 18, 2024 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, 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), and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2024-2031. According to the report the global artificial muscle market is estimated to be valued at US$ 2,107 Mn in 2023 and is expected to exhibit a CAGR of 10.7% over the forecast period 2024-2031.

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Market Dynamics

The growth of the artificial muscle market can be attributed to the increasing demand for robotic prosthetics in the healthcare industry. Robotic prosthetics are being widely adopted due to their ability to provide more natural movement and functionality to individuals with limb disabilities. Additionally, the rising geriatric population and prevalence of musculoskeletal disorders are driving the demand for artificial muscle technologies.

Global Artificial Muscle Market Report Coverage

Market Trends

One key trend in the artificial muscle market is the focus on developing biohybrid systems that combine biological tissues with artificial muscles to create more efficient and responsive prosthetics. Another trend is the increasing investment in research and development activities to enhance the performance and durability of artificial muscle technologies, making them more suitable for long-term use in various applications.

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Market Opportunities:

Dielectric elastomers are expected to dominate the market in the segment of type of material, especially in the application of medical devices. This can be attributed to the increasing demand for innovative and advanced medical devices that offer better performance and flexibility. Dielectric elastomers have unique properties that make them suitable for use in medical devices such as artificial muscles, actuators, and sensors. These materials exhibit high electrical conductivity, excellent mechanical properties, and biocompatibility, making them ideal for medical applications. As a result, the market for dielectric elastomers in medical devices is projected to grow significantly during the forecast period.

In the segment of actuation method, pneumatic actuation is expected to dominate the market, particularly in North America. The region's dominance can be attributed to the presence of key players and research institutions focusing on the development of artificial muscle technologies. Pneumatic actuation systems offer numerous advantages, including high power-to-weight ratio, fast response time, and easy control, making them ideal for a wide range of applications. In North America, the demand for pneumatic actuation systems in industries such as healthcare, robotics, and automotive is expected to drive market growth in the region.

Recent Developments:

In October 2023, Blatchford, the one of the world-renowned prosthetics manufacturer, launched Tectus, a life-changing intelligent orthotic device that enables people with partial lower limb paralysis to walk more easily, naturally and comfortably with increased confidence and safety.

In 2022, Össur, a company that develops, manufactures and sells non-invasive equipment for orthopaedics, including bracing and support products, compression therapy, and prosthetics, launched its new POWER KNEE, the world’s first actively powered microprocessor prosthetic knee for people with above-knee amputation or limb difference. The POWER KNEE is groundbreaking bionic technology, a motor-powered “smart” prosthesis that uses advanced algorithms to detect human movement patterns, learns and adjusts to its wearer’s speed and cadence in real-time.

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Key Market Takeaways:

Artificial Muscle is anticipated to witness a CAGR of 10.7% during the forecast period 2024-2031, owing to the increasing demand for advanced medical devices and robotics applications.

On the basis of type of material, the dielectric elastomers segment is expected to hold a dominant position, owing to their unique properties and biocompatibility.

In the application segment, medical devices are projected to dominate the market.

Pneumatic actuation is expected to be the leading actuation method, with North America emerging as the dominant region.

Key players operating in the Artificial Muscle market include DuPont, SRI International, Foster-Miller, Inc., American Artificial Muscle, and Soft Robotics Inc. These players are focusing on research and development activities to introduce innovative products and gain a competitive edge in the market.

Read complete market research report, " Global Artificial Muscle Market, By Type of Material, By Application, By Actuation Method, By End User, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031", Published by Coherent Market Insights.

Detailed Segmentation:

By Type of Material:

• Dielectric Elastomers

• Liquid Crystal Elastomers

• Ferromagnetic Shape-Memory Alloys

• Nanowires and Carbon Nanotubes

• Others (Hydrogels, Conducting Polymers)
  

By Application:

• Medical Devices

• Wearable Devices

• Prosthetics
  
  

By Actuation Method:

• Pneumatic Actuation

• Hydraulic Actuation

• Chemical Actuation

• Thermally Actuated

• Others (Electroactive Polymers, Magnetostrictive Materials)
  

By End User:

• Hospitals

• Clinics

• Ambulatory Surgery Centers

• Others (Nursing Homes, Home Healthcare)

By Region:

• North America

  • U.S.

  • Canada

• Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

• Europe

  • Germany

  • U.K.

  • Spain

  • France

  • Italy

  • Russia

  • Rest of Europe

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Rest of Asia Pacific

• Middle East & Africa

  • South Africa

  • GCC Countries

  • Rest of Middle East & Africa

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