Artificial Limbs Market Size Worth US$ 3 Billion By 2022
New York, November 03, 2018: The Artificial limbs market is expected to exceed more than US$ 3 Billion by 2022 at a CAGR of 5.8% in the given forecast period.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Össur, Hanger, Inc., Ohio Willow Wood Company, Ottobock, RSL Steeper Group Ltd, PROTEOR, Blatchford Group, Liberating Technologies, Inc., Fillauer LLC, Spinal Technology, Inc, Optimus Prosthetics and others. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
Artificial limb prosthetics are devices won’t to replace the function of a missing limb. Consistent with the National Limb Loss data Center, there are more or less 1.7 million people living with limb loss within the U.S. it is estimated that one out of each two hundred individuals within the U.S. has had an amputation. The most common reason for amputation are vascular complications (mainly diabetes), trauma and cancer. New technologies and new materials have resulted in improved product that are more adaptable. Materials like urethanes, silicone and mineral based liners are much more flexible, comfy and light-weight compared to traditional materials like wood and hard plastics. These advanced materials have remarkable quality called “memory,” that enables them to respond to varying degrees of pressure. The soft and pliant nature of advanced prosthetic materials permits the socket to expand and contract throughout the swing part, holding it firmly on residual limb. It additionally protects the underlying skin of the residual limb from surface harm. These technological advances drive the market growth as demand is made for more technically advanced and comfortable solutions.
The scope of the report includes a detailed study of global and regional markets on artificial limbs market with the reasons given for variations in the growth of the industry in certain regions.
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The major driving factors of Artificial limbs market are as follows:
- Rising prevalence of diabetes and vascular diseases
- Increase in global geriatric population
- Technological Developments
- Extensive R&D activities in the field of artificial intelligence
- High cost of treatment
- Uncertain reimbursement scenarios
The Artificial limbs market is Segmented on the lines of End-user, Product Type, Technology Type and Regional Analysis. By End-user this market is segmented on the basis of Hospitals sector, Prosthetic Clinics sector and Rehabilitation Centers sector. By Product Type this market is segmented on the basis of Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, Liners and Others.
By Technology Type this market is segmented on the basis of Cosmetic Prosthetics, Cable operated/Body powered Prosthetics, Electrically powered/myoelectric Prosthetics and Others. By Regional Analysis this market is segmented on the basis of North America, Europe, Asia-Pacific and Rest of the World.
This report provides:
An overview of the global market for Artificial limbs market and related technologies.
Analyses of global market trends, with data from 2015, estimates for 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022.
Identifications of new market opportunities and targeted promotional plans for Artificial limbs market
Discussion of research and development, and the demand for new products and new applications.
Comprehensive company profiles of major players in the industry.
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