Upper Limb Prosthetics: Worldwide Market Forecasts 2019-2026 - Myoelectric Prosthetics Show Lucrative Growth with Increasing Applications in the Orthopedic Industry

News provided by

Apr 26, 2019, 12:45 ET

DUBLIN, April 26, 2019 /PRNewswire/ -- The "Global Upper Limb Prosthetics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 to 2026" report has been added to ResearchAndMarkets.com's offering.

The upper limb prosthetics market was valued at US$ 214.8 Mn in 2017 and is expected to reach US$ 322.6 Mn by 2026 at a CAGR of 4.6% during the forecast period from 2018 to 2026.

The global upper limb prosthetics market indicates dynamic growth during the forecast period from 2018 to 2026, accredited to rise in prevalence of bone infection in the elderly population, osteoporosis, and rising incidence of road accidents. Even among upper limb amputees, preference for physical activities/fitness, leisure sports, and aerobics is growing significantly, which was directed to an increased ultimatum for upper limb prosthetic products.

As per the recent United Nations survey data, more than 65% of amputation procedures are carried out on individuals aged 50-55 years and older. The growing prevalence of diabetes is also quoted as a noteworthy factor linked with growing demand for upper limb prosthetic products.

The global upper limb prosthetics market has gained widespread acceptance in the orthopedic industry. Upper-limb prosthetics are now being utilized at different levels of amputation procedures: shoulder disarticulation, forequarter, transhumeral prosthesis, transradial prosthesis, elbow disarticulation, wrist disarticulation, partial hand, full hand, partial finger, whole finger.

The demand for top upper limb prosthetics such as externally powered and bionic products in the developing nations is gaining grip in tow to better healthcare services. The high cost of prosthetics, lack of well-equipped rehabilitation centers, less awareness, strict regulatory guidelines on advanced products in developing regions are the factors limiting market growth during the forecast period.

The market revenue in the Asia Pacific and Europe region perceives upward growth due to new product expansion, availability of customized products along with supportive private funding. Moreover, the growing prevalence of bone disorders along with the geriatric population, increasing road accidents, and bone injuries are few other factors driving the overall growth, mainly in the U.S. and Western Europe.

Key Market Movements

Globally, the upper limb prosthetics market remains to exhibit a productive growth with a CAGR of 4.6% for the period from 2018 to 2026
Based on the type, the myoelectric prosthetics (externally powered) segment shows lucrative growth with increasing applications in the orthopedic industry
An increasing number of small scale component manufacturers/private players, availability of branded and customized products with enhanced features, and increasing private funding in developing nations will contribute to the growth of the upper limb prosthetics market
Major players in this vertical are Ossur Global, Fillauer LLC, Endolite India Ltd., Ottobock SE & Co. KGaA, College Park Industries, Steeper Inc., TRS Inc., Howard Orthopedics, Inc., CPOUSA.COM. Coapt, LLC, The Ohio Willow Wood Company and others

Topics Covered

Chapter 1. Preface
1.1. Report Description
1.2. Market Segmentation
1.3. Research Scope
1.4. Research Methodology
1.5. Market Segmentation

Chapter 2. Executive Summary
2.1. Global Upper Limb Prosthetics Market Portraiture
2.2. Global Upper Limb Prosthetics Market, by Type, 2017 (US$ Mn)
2.3. Global Upper Limb Prosthetics Market, by End User, 2017 (US$ Mn)
2.4. Global Upper Limb Prosthetics Market, by Geography, 2017 (US$ Mn)

Chapter 3. Global Upper Limb Prosthetics Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Current Scenario: Partnership Strategies Internationally, Mergers & New Product Launches
3.3. Drivers
3.4. Challenges
3.5. Opportunities
3.6. Attractive Investment Proposition, by Geography, 2017
3.7. Competitive Landscape

Chapter 4. Global Upper Limb Prosthetics Market, by Type, 2016 - 2026 (US$ Mn)
4.1. Overview
4.2. Mechanical (Body Powered) Prosthetics
4.3. Myoelectric (Externally Powered) Prosthetics
4.4. Hybrid Prosthetics

Chapter 5. Global Upper Limb Prosthetics Market, by End User, 2016 - 2026 (US$ Mn)
5.1. Overview
5.2. Hospitals
5.3. Orthopedic Clinics
5.4. Rehabilitation Centers

Chapter 6. Global Upper Limb Prosthetics Market, by Geography, 2016 - 2026 (US$ Mn)
6.1. Overview
6.2. North America Upper Limb Prosthetics Market Analysis, 2016 - 2026
6.3. Europe Upper Limb Prosthetics Market Analysis, 2016 - 2026
6.4. Asia Pacific Upper Limb Prosthetics Market Analysis, 2016 - 2026
6.5. Latin America Upper Limb Prosthetics Market Analysis, 2016 - 2026
6.6. Middle East & Africa (MEA) Upper Limb Prosthetics Market Analysis, 2016 - 2026

Chapter 7. Company Profiles
7.1. Ossur Global
7.2. Fillauer LLC
7.3. Endolite India Ltd.
7.4. Ottobock SE & Co. KGaA
7.5. College Park Industries
7.6. Steeper Inc.
7.7. TRS Inc.
7.8. Howard Orthopedics Inc.
7.9. CPOUSA.com
7.10. Coapt LLC
7.11. The Ohio Willow Wood Company

For more information about this report visit https://www.researchandmarkets.com/r/qpzjew

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets