Global Prosthetics Market: Size and Trends with Impact of COVID-19 and Forecast up to 2027
The global prosthetics market was valued at US$2.05 billion in 2021, and is expected to be worth US$2.89 billion in 2027. Prosthetics refer to the use of artificial limbs, also known as prostheses for enhancing the function and lifestyle of individuals with limb loss. Prosthetic implant is an artificial device that is used to replace a missing body part, which is lost due to any trauma, disease, accident or a condition present at birth. People can lose all or multiple parts of an arm or leg for various reasons like circulation problems from atherosclerosis or diabetes; traumatic injuries, including traffic accidents or military combat; cancer; and birth defects. Prostheses are intended to restore the normal functions of the missing body part.
It should be a unique combination of appropriate materials, design, construction and alignment for matching the functional requirements of an individual. These needs of the individuals are complex and vary for upper and lower extremities. Lower limb prostheses addresses stability in walking, standing, shock absorption, cosmetic appearance and energy storage. Upper limb prosthesis helps in addressing issues like reaching and grasping, other occupational challenges like hammering, weight lifting or painting, and activities of daily living like dressing, writing and eating. The global prosthetics market is determined to grow at a CAGR of 5.90% over the forecasted period of 2022-2027.
Scope of the Report:
The report titled “Global Prosthetics Market: Analysis By Technology Type (Electric Powered Technology, Hybrid Prosthetics and Conventional Technology), By User Type (Prosthetic Clinics, Hospitals, Rehabilitation Centers and Others), By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2027”, includes:
-- An in-depth analysis of the global prosthetics market by value, by technology type, by user type, by region, etc.
-- The regional analysis of the prosthetics market, including the following regions:
North America (The US, Canada and Mexico)
Europe (Germany, UK, France, Italy and Rest of Europe)
Asia Pacific (China, Japan, India, South Korea and Rest of Asia Pacific)
ROW
-- Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.
-- Provides an analysis of the COVID-19 impact on the prosthetics market.
-- Assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall prosthetics market has also been forecasted for the period 2022-2027, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.
-- Evaluation of the potential role of prosthetics to improve the market status.
-- Identification of new technological developments, R&D activities, and product launches occuring in the prosthetics market.
-- In-depth profiling of the key players, including the assessment of the business overview, market strategies, regional and business segments of the leading players in the market.
-- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
-- The in-depth analysis provides an insight into the market, underlining the growth rate and opportunities offered in the business.
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