Upper Limb Prosthetics Market Size, Growth Rate & Forecast 2023-2028

IMARC Group's report titled "Upper Limb Prosthetics Market Report 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), End Use (Hospitals, Prosthetic Clinics, and Others), and Region 2023-2028", The global upper limb prosthetics market size reached US$ 732.75 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1030.63 Million by 2028, exhibiting a growth rate (CAGR) of 5.25% during 2023-2028.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/upper-limb-prosthetics-market/requestsample

Factors Affecting the Growth of the Upper Limb Prosthetics Industry:

• Technological Advancements:

Modern prosthetics incorporate advanced materials, microprocessors, and robotics. These technologies are improving the functionality, comfort, and aesthetics of upper limb prosthetics, making them more appealing and practical for users. Advanced prosthetics can mimic natural limb movements more accurately, offering enhanced dexterity and control. This technological improvement is not only increasing the adoption rate among new users but also encouraging existing users to upgrade their devices. Furthermore, continuous research and development (R&D) efforts are focused on integrating advanced technologies, such as artificial intelligence (AI) and machine learning (ML), leading to even more sophisticated and user-friendly prosthetics.

• Increasing Amputation Cases:

The rising number of amputation cases due to various factors, including higher incidences of diseases, such as diabetes and vascular disease, traumatic injuries, and cancer, is impelling the market growth. Diabetes often leads to neuropathy and poor circulation in the limbs, which can result in amputations. Moreover, traumatic injuries from accidents or conflicts are catalyzing the need for prosthetics. Additionally, the improved survival rates in severe trauma and cancer cases due to advancements in medical care is leading to a higher number of amputees who can benefit from prosthetic limbs.

• Government and Non-Governmental Organization (NGO) Initiatives:

The involvement of government bodies and non-governmental organizations (NGOs) in promoting awareness and accessibility of prosthetic devices is supporting the market growth. Many governmental organizations are providing financial assistance, subsidies, or insurance coverage for prosthetic devices, making them more accessible to a larger population. This support is particularly important in developing countries where the cost of prosthetics can be a barrier. Additionally, NGOs play a vital role in offering prosthetic solutions to underprivileged sections of society, especially in regions affected by war or conflict where the incidence of amputations is high. These initiatives not only help in making prosthetics more affordable but also in educating the public about the available options. Moreover, collaborations between the public and private sectors for research operations are also instrumental in advancing prosthetic technology.

Leading Companies Operating in the Global Upper Limb Prosthetics Industry:

• Blatchford Limited (Endolite India Ltd)
• Coapt LLC, Fillauer LLC
• Mobius Bionics LLC
• Motorica LLC.
• Ortho Europe
• ssur
• Ottobock SE & Co. KGaA (Näder Holding GmbH & Co.)
• Protunix
• Steeper Group

Upper Limb Prosthetics Market Report Segmentation:

By Product Type:

• Passive Prosthetic Devices
• Myoelectric Prosthetic Devices
• Body Powered Prosthetic Devices
• Hybrid Prosthetic Devices

Passive prosthetic devices exhibit a clear dominance in the market attributed to their affordability and low maintenance.

By Component:

• Prosthetic Wrist
• Prosthetic Arm
• Prosthetic Elbow
• Prosthetic Shoulder
• Others

Prosthetic arm represents the largest segment as arms are more commonly lost or impaired due to accidents or medical conditions.

By End Use:

• Hospitals
• Prosthetic Clinics
• Others

Prosthetic clinics account for the majority of the market share. They are primary providers for fitting, customization, and maintenance of upper limb prosthetics.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America dominates the market share owing to its advanced healthcare infrastructure, greater access to cutting-edge prosthetic technology, and a strong presence of key manufacturers in this region.

Global Upper Limb Prosthetics Market Trends:

Manufacturers are offering customized prosthetic devices for specific needs and preferences of individual users. This encompasses not only the functional aspects, such as the range of motion and grip strength, but also aesthetic elements, allowing users to choose designs that reflect their style. Customized prosthetics improve user comfort and satisfaction, leading to better adaptation and a more positive overall experience. This individualized approach is particularly important in upper limb prosthetics, where dexterity and appearance play crucial roles in the quality of life of the user.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

Certainly! Here's a draft bio for a digital marketing executive with 1 year of experience: "Passionate and results-driven digital marketing executive with 1 year of experience in developing and implementing successful digital marketing strategies.