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Upper Limb Prosthetics Market by Product Type Component and End User : Global Opportunity Analysis and Industry Forecast, 2021-2030

Upper Limb Prosthetics Market by Product Type Component and End User : Global Opportunity Analysis and Industry Forecast, 2021-2030

  • January 2022
  • 222 pages
  • ID: 6247246
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Upper Limb Prosthetics Market by Product Type (Passive Prosthetic Devices, Myoelectric Prosthetic Devices, Body Powered Prosthetic Devices, Hybrid Prosthetic Devices) Component (Prosthetic Wrist, Prosthetic Arm, Prosthetic Elbow, Prosthetic Shoulder, and Others) and End User (Hospitals, Prosthetic Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030


The global upper limb prosthetics market was valued at $687.73 million in 2020, and is projected to reach $1,044.18 million by 2030, registering a CAGR of 4.24% from 2021 to 2030.
A prosthetic upper limb refers to an artificially made device that serves as a substitute for a partially or entirely lost hand or arm due to an accident, injury, illness, or congenital defect. They come in different shapes, sizes, and designs. A prosthetic hand or arm typically comprises shafts, sockets, and components to imitate the attachment of the limb to a joint or ball and socket. It may be attached to the body with the use of cables. A prosthesis may be cosmetic, functional, or both. A cosmetic prosthesis is usually designed for the sole purpose of making the limb look natural and provides little or no functionality. A functional prosthesis, on the other hand, can help an amputee perform certain tasks that are challenging or impossible following the loss of a limb. However, it typically offers little or no cosmetic disguise. Losing an arm or a hand doesn’t necessarily have to lead to the loss of independence. The availability of prosthetic arms and hands has made it possible for amputees to overcome their disabilities and lead normal lives. These artificial limbs are designed to provide functionality and mobility for amputees, allowing them to perform a wide range of tasks in their daily lives and feel greater self-confidence.
Technological advancements in prosthetic, increase in number of accidents and trauma, and rise in prevalence of bone conditions such as osteosarcoma, osteoporosis and osteopenia are the key factors that fuel the growth of the global upper limb prosthetics market. For instance, According to the data of American Cancer Society, about 1,000 new cases of osteosarcoma are diagnosed in the U.S. every year. Moreover, increase in the targeted population, surge in patient awareness toward prosthetic devices adoption, and rise in prevalence of diabetes are other factors that contribute toward the growth of the market. However, high cost and greater maintenance associated with these devices and lack of reimbursement policies are expected to hinder the growth of the market. Conversely, increased government initiatives to support amputees provide lucrative growth opportunities to the market.
The upper limb prosthetics market is segmented into product type, component, end user and region. By product type, the market is categorized into passive prosthetic devices, myoelectric prosthetic devices, body powered prosthetic devices, and hybrid prosthetic devices. On the basis of component, the market is segregated into prosthetic wrist, terminal devices, prosthetic arm, prosthetic elbow, and prosthetic shoulder. Depending on end user, it is classified into hospitals, prosthetic clinics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities.
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the upper limb prosthetics market is provided.
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.

KEY MARKET SEGMENTS
By PRODUCT TYPE
• Passive prosthetic devices,
• Myoelectric prosthetic devices,
• Body powered prosthetic devices,
• Hybrid prosthetic devices
By COMPONENT
• Prosthetic Wrist
• Terminal Devices
• Prosthetic Arm
• Prosthetic Elbow
• Prosthetic Shoulder
• Others
By END USER
• Hospitals
• Prosthetic Clinics
• Other
By REGION
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o Australia
o India
o Rest of Asia Pacific
• LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA

KEY MARKET PLAYERS
• CBPE Capital LLP (Blatchford Limited)
• Coapt LLC
• Colfax Corporation (DJO Global Inc.)
• Mobius Bionics LLC
• Motorica LLC
• Naked Prosthetics
• Össur
• Ottobock SE & Co. KGaA
• Protunix
• Steeper Group

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