The latest report by IMARC Group, titled “Upper Limb Prosthetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 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.
Upper limb prosthetics are sophisticated medical devices designed to replace or augment missing or non-functional upper limbs, including arms and hands. These prosthetic devices have come a long way in recent years, due to the advancements in materials, engineering, and technology. They serve a vital role in helping individuals who have experienced limb loss regain independence and improve their quality of life. Modern upper limb prosthetics are typically custom-made to fit the individual’s unique anatomy and needs. They consist of several components, including sockets, joints, and functional attachments such as hands or hooks. Prosthetic hands have evolved to become remarkably dexterous, with some models capable of replicating complex hand movements and gestures.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/upper-limb-prosthetics-market/requestsample
Upper Limb Prosthetics Market Trends and Drivers:
The trend toward customized and personalized healthcare solutions extends to prosthetics. Prosthetists can now tailor upper limb prosthetics to the needs and preferences of individuals, enhancing comfort and functionality. Additionally, expanding access to healthcare services in emerging markets contributes to market growth. As more individuals in these regions gain access to prosthetic care, the demand for upper limb prosthetics is expected to increase. Other than this, favorable reimbursement policies and insurance coverage for prosthetic devices play a crucial role in market expansion. These policies ease the financial burden on patients, making prosthetic adoption more feasible. Besides this, greater awareness about the benefits of upper limb prosthetics, as well as educational initiatives, both within the healthcare community and among the general public, can lead to increased demand. In line with this, patient preferences for prosthetic devices that closely mimic natural limb appearance and function are a significant factor. Prosthetic manufacturers are continually striving to meet these preferences. Furthermore, government initiatives and programs aimed at improving the quality of life for individuals with limb loss can stimulate market growth. Funding for research and development in prosthetic technology also plays a role. Moreover, collaborations between prosthetic manufacturers, research institutions, and healthcare providers can lead to the development of cutting-edge products and expand market reach.
Report Segmentation:
The report has segmented the market into the following categories:
Product Type Insights:
- Passive Prosthetic Devices
- Myoelectric Prosthetic Devices
- Body Powered Prosthetic Devices
- Hybrid Prosthetic Devices
Component Insights:
- Prosthetic Wrist
- Prosthetic Arm
- Prosthetic Elbow
- Prosthetic Shoulder
- Others
End Use Insights:
- Hospitals
- Prosthetic Clinics
- Others
Market Breakup by Region:
- 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
Competitive Landscape with Key Player:
- Blatchford Limited (Endolite India Ltd)
- Coapt LLC
- Fillauer LLC
- Mobius Bionics LLC
- Motorica LLC.
- Ortho Europe
- Össur
- Ottobock SE & Co. KGaA (Näder Holding GmbH & Co.)
- Protunix
- Steeper Group
Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=12691&flag=C
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.
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