- Technological advancements in prosthetics and prevalence of bone conditions such as osteosarcoma, osteoporosis, and osteopenia drive the growth of the global upper limb prosthetics market.
PORTLAND, Ore., Feb. 2, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "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." According to the report, the global upper limb prosthetics industry generated $687.73 million in 2020, and is expected to generate $1.04 billion by 2030, registering a CAGR of 4.2% from 2021 to 2030.
For Right Perspective and Competitive Insights, Get Sample Report at: https://www.alliedmarketresearch.com/request-sample/12430
Drivers, Restraints, and Opportunities
Technological advancements in prosthetics, rise in number of accidents and trauma, and prevalence of bone conditions such as osteosarcoma, osteoporosis, and osteopenia drive the growth of the global upper limb prosthetics market. However, lack of reimbursement policies and high initial and maintenance costs associated with these devices hinder the market growth. On the other hand, favorable government initiatives to support amputees create new opportunities in the coming years.
Covid-19 Scenario
- The Covid-19 pandemic impacted the upper limb prosthetics market negatively as the many prosthetic procedures were postponed due to shift in focus toward treatment of Covid-infected patients and measures taken for avoidance of cross-contamination in hospitals.
- According to the statistics of the University of Birmingham, nearly 6.3 million orthopedic surgeries were postponed or canceled across the world during the initial phase of the Covid-19 pandemic. However, the utilization of prosthetics increased post-lockdown.
The passive prosthetic devices segment to continue its lead position during the forecast period
Based on product type, the passive prosthetic devices segment held the highest share in 2020, accounting for more than two-fifths of the global upper limb prosthetics market, and is estimated to continue its lead position during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 5.0% from 2021 to 2030. This is due to increase in prevalence of bone diseases and surged demand for upper limb prosthetics. The research also analyzes segments including myoelectric prosthetic devices, body-powered prosthetic devices, and hybrid prosthetic devices.
Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/12430
The prosthetic clinics segment to maintain its leadership status during the forecast period
Based on end user, the prosthetic clinics segment accounted for the largest share in 2020, contributing to more than two-thirds of the global upper limb prosthetics market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is estimated to portray the highest CAGR of 5.0% from 2021 to 2030. This is due to rise in number of prosthetics clinics and increase in usage of prosthetics in hospitals. The report also analyzes segments such as hospitals and others.
North America to offer lucrative opportunities
Based on region, North America contributed to the highest market share in 2020, accounting for around two-fifths of the global upper limb prosthetics market, and is expected to continue its dominance in terms of revenue by 2030. Moreover, this region is estimated to manifest the fastest CAGR of 5.1% from 2021 to 2030. This is due to increase in the prevalence of bone conditions such as osteosarcoma diseases and presence of leading market players in the region. The research also analyzes regions including Asia-Pacific, Europe, and LAMEA.
Leading Market Players
- CBPE Capital LLP (Blatchford Limited)
- Coapt LLC.
- Colfax Corporation (DJO, LLC)
- Ossur (College Park Industries)
- Mobius Bionics LLC
- Motorica LLC
- Naked Prosthetics
- Ottobock SE & Co. KGaA
- Protunix
- Steeper Group
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter
"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
Trending Reports in Healthcare Industry (Book Now with 10% Discount):
mHealth Market - Global Opportunity Analysis and Industry Forecast, 2020-2028
Oncology/Cancer Drugs Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
Healthcare IT Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
COPD and Asthma Devices Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
3D Printing Healthcare Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
Advanced Wound Care Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
In Vitro Diagnostics (IVD) Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
Sleep Aids Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
Surgical Robotics Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
Medical Spa Market - Global Opportunity Analysis and Industry Forecast, 2019-2028
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web:https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
