PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532823
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532823
Artificial Muscle Market size was valued at USD 2,227.12 million in 2023, expanding at a CAGR of 10.5% from 2024 to 2032.
The Artificial Muscle Market involves the development and application of biomimetic materials that replicate the function of natural muscles. Advancements in material science, increased demand for robotics and prosthetics, and rising healthcare needs for muscle replacement therapies drive the market. The International Federation of Robotics reported a 12% surge in robotics demand in 2022, indicating strong market potential for artificial muscles in robotic applications. However, restraints such as high production costs and technical challenges in replicating natural muscle properties may hinder growth. The integration of artificial muscles with wearable technology, the expansion of medical applications, and the development of more efficient, cost-effective production methods present abundant opportunities. As technology advances and healthcare providers seek innovative solutions, the artificial muscle market is poised for significant growth.
Artificial Muscle Market- Market Dynamics
Increasing Demand for Robotics and Prosthetics Drives Growth in the Artificial Muscle Market
The increasing demand for robotics and prosthetics is significantly driving growth in the Artificial Muscle Market. According to the International Federation of Robotics, global demand for robotics surged by 12% in 2022, highlighting the expanding applications of artificial muscles in robotics. Additionally, the World Health Organization reports that over 30 million people worldwide require prosthetic limbs, emphasizing the need for advanced muscle technologies to improve mobility and quality of life. Innovations in material science are enabling the development of more lifelike and functional artificial muscles, which are critical for the next generation of prosthetics and robotic systems. As healthcare needs rise and technology continues to evolve, the artificial muscle market is poised for substantial growth, driven by the integration of these advanced materials into essential medical and industrial applications.
Artificial Muscle Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 10.5% over the forecast period (2024-2032)
Based on Material segmentation, Dielectric Elastomers were predicted to show maximum market share in the year 2023
Based on Actuation Method segmentation, Pneumatic Actuation was the leading type in 2023
Based on Application segmentation, Medical Devices was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Artificial Muscle Market is segmented based on Material, Actuation Method, Application, End-User, and Region.
The market is divided into four categories based on Material: Dielectric Elastomers, Liquid Crystal Elastomers, Ferromagnetic Shape-Memory Alloys, Nanowires and Carbon Nanotubes. Dielectric Elastomers lead the market due to their high flexibility and responsiveness, making them ideal for various applications. Liquid Crystal Elastomers follow closely, known for their excellent actuation properties. Ferromagnetic Shape-Memory Alloys and Nanowires Carbon Nanotubes are also significant, contributing to innovative advancements in the field.
The market is divided into four categories based on the Actuation Method: Pneumatic Actuation, Hydraulic Actuation, Chemical Actuation, and Thermally Actuated. Pneumatic Actuation is the dominant type, known for its versatility and widespread use in robotics and prosthetics. Hydraulic Actuation follows, valued for its high force capabilities. Chemical Actuation and Thermally Actuated methods also play significant roles, offering unique advantages in specific applications, and contributing to the market's diverse technological landscape.
Artificial Muscle Market- Geographical Insights
North America leading the market due to its robust healthcare infrastructure, advanced research facilities, and significant investments in robotics and prosthetics technologies. The United States is a major contributor, driven by substantial funding from government and private sectors for innovative medical and robotic solutions. Europe follows closely, with countries like Germany and the UK spearheading advancements in material science and medical applications, supported by favorable regulatory frameworks and extensive R&D activities. The Asia-Pacific region is experiencing rapid growth, fueled by increasing healthcare needs, expanding industrial robotics, and supportive government initiatives in countries like China, Japan, and South Korea. These nations invest heavily in technology and healthcare to meet the rising demand for advanced prosthetics and robotic systems. Emerging markets in Latin America and the Middle East are also adopting artificial muscle technologies to enhance healthcare and industrial automation, contributing to the global market's expansion.
Leading companies such as Parker Hannifin, Festo Corporation, and Soft Robotics Inc. dominate the market with their extensive research and development efforts, robust product portfolios, and strategic collaborations. These firms are continuously investing in cutting-edge technologies to enhance the performance and functionality of artificial muscles, catering to a wide range of applications in robotics, prosthetics, and medical devices. Startups and smaller companies are also making significant strides by introducing novel solutions and forging partnerships with academic institutions and research organizations to accelerate innovation. The market is further intensified by the entry of tech giants like Google and Microsoft, leveraging their expertise in artificial intelligence and machine learning to develop smarter and more adaptive muscle technologies.
In July 2024, Researchers at ETH Zurich developed artificial muscles that are lighter, safer, and more robust than previous technologies. The new actuators use a high-permittivity ferroelectric material, allowing them to operate at relatively low voltages and be waterproof and self-sealing.
In January 2024, KAIST researchers developed an artificial muscle device that produces force 34 times its weight, using ionic polymer artificial muscles and polysulfonated covalent organic frameworks. This technology can be used in soft robots, medical devices, and wearable devices.
GLOBAL ARTIFICIAL MUSCLE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
ABB Ltd.
Artificial Muscle Inc. (Parker Hannifin Corporation)
Bioservo Technologies AB
Continental AG
Festo AG & Co. KG
General Electric Company
Kaman Corporation
Mitsubishi Electric Corporation
Noliac A/S (CTS Corporation)
Otto Bock HealthCare GmbH
Panasonic Corporation
Robotics Innovations Ltd.
Samsung Electronics Co., Ltd.
Shadow Robot Company
Soft Robotics Inc.
SRI International
Others