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Global Artificial Limbs Market : Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024

Global Artificial Limbs Market: By Type (Lower Extremity, Upper Extremity, and Compression Therapy) By Technology (Body Powered or Cable Operated, Cosmetic Prosthetics, Myoelectric or Electrically powered, and Others), By Material (Titanium, Plastics, and Others), By End User (Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centres, Rehabilitation Centres, and Prosthetic Clinics) and Geography.

 

Market Outline: Artificial Limbs Market

 

Artificial limbs are the customized fabricated limbs which act as substitute for the amputees who lost limbs. Type of limbs to be used is determined by the extent of amputation and location of missing extremity. Artificial limbs must possess certain qualities such as high strength and low weight.Rising geriatric population who are highly prone to the bone and muscle related disorders and diseases like osteoarthritis and osteoporosis are expected to drive the market. According to WHO, by 2050, global population above 60 years of age are going to reach 2 Mn. Rising prevalence of obesity and diabetes, poor physical activity, and growing trend of consumption of alcohol and smoking, innovations osteology field, growing incidence of accidents and injuries related to sports, are the factors, which are propelling the growth of artificial limbs market. Increasing cost burden of the surgeries, lack of skilled professionals, lack of reimbursement policies are hampering the growth of the artificial limbs market.

 

Market Summary: Artificial Limbs Market

 

The market witnessing high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (expansions, new product launches, marketing and promotion, agreements, collaborations, contracts, partnerships, and joint ventures) to increase their market shares and establish a strong foothold in the global artificial limbs market.

 

Global Artificial Limbs market was valued at US $ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024

 

Market Scope: Artificial Limbs Market

 

Artificial limbs market is segmented based on the type, technology, material, end user, and geography

Based on the type, the market is segmented into the following:

  • Lower Extremity
  • Upper Extremity
  • Compression Therapy

 

Based on the technology, the market is segmented into the following:

  • Body Powered or Cable Operated
  • Cosmetic Prosthetics
  • Myoelectric or Electrically powered
  • Others

 

Based on the material, the market is segmented into the following:

  • Titanium
  • Plastics
  • Others

 

Based on the End User, the market is segmented into the following:

  • Hospitals
  • Orthopaedic Clinics
  • Ambulatory surgical Centres
  • Rehabilitation Centres
  • Prosthetic Clinics

 

Based on Geography, the market is segmented into the following:

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • The Middle East and Africa

 

Regional Analysis:  Artificial Limbs Market

 

Geographically, global artificial limbs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is dominating the global artificial limbs market owing to the rise in acceptance of technological advanced products, huge patient affordability, and well-established healthcare infrastructure. Europe artificial limbs market is anticipated to hold next position to North America due to the substantial advancements in the technology. Asia-Pacific artificial limbs market is anticipated to show high growth during the forecast period owing to growing geriatric population, developing healthcare infrastructure, and rising healthcare spending.

 

Competition Assessment:

  • Össur, Corporation (Iceland)
  • Ohio Willow Wood Company (U.S.)
  • Ottobock (Germany)
  • RSL Steeper Group Ltd (UK)
  • PROTEOR (France)
  • Blatchford Group (UK)
  • Liberating Technologies, Inc. (U.S.)
  • Fillauer LLC (Sweden)
  • Spinal Technology, Inc. (U.S.)
  • Optimus Prosthetics (U.S.)

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