UPPER LIMB PROSTHETICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2022 to 2028)

A prosthesis is an artificial device that substitutes for a missing part of the body. Upper limb prosthesis serves as a substitute for an entirely or partially missing part of the hand due to an accident, injury, illness, or trauma. Different types of upper limb prosthetics, such as cosmetic, body-powered, hybrid, and myoeletric are available in the market. They are light in weight and improve limb’s function. Thus, with the rise in number of amputations, the demand for upper limb prosthetics is also increasing rapidly, worldwide.

Market Dynamics:

Rise in number of limb amputation procedures, rise in number of accident injuries and trauma cases, growing geriatric population, increase in research and development, and technological advancements in upper limb prosthetics are major factors expected to propel the growth of the global upper limb prosthetics market.

For instance, in September 2021, researchers form Cleveland Clinic engineered a first-of-its-kind bionic arm for patients with upper limb amputations that allows the users to think, behave, and function like a person without an amputation. Moreover, in December 2020, PROLIMB planned to introduce a game-changing upper limb prosthesis. The new project aims to develop an affordable fingertip prosthesis with integrated mechanical haptic feedback.

Key features of the study:

• This report provides in-depth analysis of the global upper limb prosthetics market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global upper limb prosthetics market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Open Bionics, Coapt LLC, WillowWood Global LLC, Steeper Inc., Ottobock SE & Co. KgaA, Ossur, Ortho Europe, Fillauer LLC, Protunix, and Blatchford Limited (Endolite India Ltd),
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global upper limb prosthetics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global upper limb prosthetics market.

Detailed Segmentation:

• Global Upper Limb Prosthetics Market, By Device Type:
• • Body Powered
  • Passive
  • Hybrid
  • Myoelectric
• Global Upper Limb Prosthetics Market, By Component:
• • Prosthetic Elbow
  • Prosthetic Wrist
  • Prosthetic Arm
  • Prosthetic Shoulder
  • Others
• Global Upper Limb Prosthetics Market, By End-User:
• • Hospitals
  • Prosthetic Clinics
  • Others
• Global Upper Limb Prosthetics Market, By Geography:
• • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa
  • South America
• Company Profiles:
• • Open Bionics
  • Coapt LLC
  • WillowWood Global LLC
  • Steeper Inc.
  • Ottobock SE & Co. KgaA
  • Ossur
  • Ortho Europe
  • Fillauer LLC
  • Protunix
  • Blatchford Limited (Endolite India Ltd.)