To know the impact of COVID-19 On Prosthetics Market By Product Type (Upper extremity prosthetics, Lower extremity prosthetics), By Technology (Body Powered, Electrically powered, Hybrid prosthetics), By End User (Prosthetic clinics, Hospitals, Rehabilitation Centre’s), Industry Analysis, Trends, And Forecast, 2021-2027 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Prosthetics Market is valued at USD 9.12 Billion in 2018 and expected to reach USD 12.40 Billion by 2025 with the CAGR of 4.96% over the forecast period.
Rising incidence of fractures, increasing awareness among the people towards the use of innovative technologies, and high health care spending are some factors driving the growth of the market.
The market report covers prominent top key players like,
- OttoBock Healthcare GmbH
- Touch Bionics Inc.
- Deka Research and Development Corporation
- EXIII Inc.
- Fillauer LLC
- RSL Steeper Holdings Ltd
- Aesthetic prosthetic Inc.
- Blatchford Inc. (Endolite)
Scope of Prosthetics Market-
A prosthesis is designed for useful or cosmetic reasons or both. It is an artificial substitute or replacement of a part of the body such as a tooth, eye, a facial bone, the palate, a hip, a knee or another joint, the leg, an arm, etc. Classic prostheses for joints are the hip, knee, elbow, ankle, and finger joints. A prosthesis may be detachable, as in the case of most prosthetic legs or a prosthetic breast form used after mastectomy. A person who uses a detachable prosthesis, for example, an artificial hand, may want to have more than one available for different kinds of tasks. Additional types of prosthetic devices are permanently rooted, like an artificial hip, testicle or tooth. With advances in the biomedical sciences, a few trial prostheses have been integrated with body tissues, comprising the nervous system. These highly progressive devices can respond to instructions from the central nervous system, more closely resembling normal movement and utility.
Prosthetics market report is segmented based on product type, technology, end-users and by regional & country level. Based upon product type, prosthetics market is classified into upper extremity prosthetics and lower extremity prosthetics. Based upon technology, prosthetics market is classified into body powered, electrically powered and hybrid prosthetics. Based upon end-users, prosthetics market is classified into prosthetic clinics, hospitals and rehabilitation centers.
The regions covered in this Prosthetics market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Prosthetics is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players Prosthetics Market Reports-
Prosthetics market report covers prominent players like OttoBock Healthcare GmbH, Touch Bionics Inc., Deka Research and Development Corporation, EXIII Inc., College-Park, Fillauer LLC, RSL Steeper Holdings Ltd, ProtUnix, Aesthetic prosthetic Inc., Blatchford Inc. (Endolite) and among others.
Prosthetics Market Dynamics –
Increasing incidence of sports injuries and road accidents, rising number of diabetes-related amputations, and growing prevalence of osteosarcoma around the world are poised to drive the global market. Additionally, rise in the frequency of road accidents is also a leading factor driving limb amputation procedures around the world. According to the Association for Safe International Road Travel (ASIRT), around 20-50 million people in the U.S. were injured or disabled owing to road accidents in 2018. Road traffic accidents are the 9th leading cause of deaths worldwide. ASIRT also reported that as of 2018, over 37,000 people die in road accidents every year in the U.S. As per the Ministry of Road Transport and Highways, Government of India, in 2018, around 4, 67,044 people were injured in road accidents, which is further fueling the demand for prosthetics and orthotics. However, availability of expensive treatment and poor reimbursement policies in the developing regions of the world are some of the factors, which may hamper the market growth during the forecast period.
Prosthetics Market Regional Analysis –
North America is dominating the Prosthetics market. Nowadays, more people are choosing sports as a career, raising the likelihood of various sports injuries. As per the American Physical Therapy Association (APTA), the annual sports injury rate in the U.S. was around 8.7 million in 2018, which represented an age-adjusted rate of around 34.1 per 1,000 population. This factor is anticipated to drive the demand for prosthetics market in this region. Also, In the United Kingdom, around 536,000 people suffer from fragility fractures each year, which also include 79,000 hip fractures.
Furthermore, Asia-Pacific Prosthetics market is projected to witness significant growth due to rapidly aging population in China, India and Japan and also growing prevalence of the accidents and diabetic related amputations.
Key Benefits for Prosthetics Market Reports –
Global Market report covers in depth historical and forecast analysis.
Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Market report helps to identify opportunities in market place.
Global Market report covers extensive analysis of emerging trends and competitive landscape.
Prosthetics Market Segmentation –
By Product Type: -Upper extremity prosthetics, Lower extremity prosthetics
By Technology:- Body Powered, Electrically powered, Hybrid prosthetics
By End User:- Prosthetic clinics, Hospitals, Rehabilitation Centre’s
By Regional & Country Analysis
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA
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Prosthetics Market Size, Industry Demand, Growth, share & Forecast 2027