Upper Limb Prosthetics Market Analysis By Product Type (Passive Prosthetic Devices, Body Powered Prosthetic Devices, Myoelectric Prosthetic Devices, Hybrid Prosthetic Devices);By Component(Prosthetic Arm, Prosthetic Elbow, Prosthetic Wrist, Prosthetic Shoulder, Others); By End-user (Hospitals, Prosthetic Clinics, Others) and by Region: Global Forecast, 2024 - 2033
- PUBLISHED ON
- 2024-03-11
- NO OF PAGES
- 191
- CATEGORY
- Healthcare & Life Sciences
Market Overview
The Upper Limb Prosthetics market is predicted to develop at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2033, when it is projected to reach USD 1.42 Billion, based on an average growth pattern. The market is estimated to reach a value of USD 0.97 Billion in 2024.
SOURCE: We Market Research
Artificial
devices intended to replace absent or non-functioning arm elements, ranging
from the hand to the shoulder, are referred to as upper limb prostheses. By
restoring functionality and beauty, these prosthetics help people participate
in activities and carry out daily duties that they would not be able to do on
their own. Cutting-edge materials and technology, such as myoelectric control
systems, which interpret muscle impulses to perform motions, are used in upper
limb prostheses today. Personal fittings are made possible by customization
choices, which improve comfort and usefulness. Upper limb prosthetics work to
enhance the freedom and quality of life for those who have lost or are disabled
by limbs through ongoing innovation.
The Upper Limb
Prosthetics Market encompasses the global industry involved in the development,
manufacturing, and distribution of artificial limb devices for the arm,
including the hand, wrist, forearm, and shoulder. This market is driven by
factors such as the increasing incidence of limb loss due to accidents,
injuries, and medical conditions like diabetes and vascular diseases.
Technological advancements, such as the integration of robotics and advanced
materials, continually enhance the functionality and aesthetics of prosthetic
limbs. Additionally, rising awareness about the availability of prosthetic
solutions and improving healthcare infrastructure contribute to the market's
growth, facilitating greater accessibility and affordability of these devices
worldwide.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 0.97 Billion |
|
Market Forecast in 2033 |
USD 1.42 Billion |
|
CAGR % 2024-2033 |
5.5% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2033 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Product Type, By Component, By End-user and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Upper Limb Prosthetics Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Upper Limb Prosthetics
Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Blue Technology Segmentation
Market- By Product Type
By Product Type, the Upper Limb Prosthetics Market is Categories into Passive Prosthetic Devices, Body Powered Prosthetic Devices, Myoelectric Prosthetic Devices, and Hybrid Prosthetic Devices. The Passive Prosthetic Devices segment accounts for the largest share of around 45% in 2024.
A growing number of amputees, a greater
need for upper limb prosthetic procedures, more patient knowledge of prosthetic
devices, and technological improvements are some of the key factors driving this
market. The passive prosthetics market has grown significantly as a result of
these considerations.
The
following segments are part of an in-depth analysis of the global Upper Limb
Prosthetics market:
|
Market Segments |
|
|
By Product
Type |
·
Passive Prosthetic Devices ·
Body Powered Prosthetic
Devices ·
Myoelectric Prosthetic
Devices ·
Hybrid Prosthetic Devices |
|
By Component |
·
Prosthetic Arm ·
Prosthetic Elbow ·
Prosthetic Wrist ·
Prosthetic Shoulder ·
Others |
|
By End-user |
·
Hospitals ·
Prosthetic Clinics ·
Others |
Upper Limb Prosthetics Industry: Regional Analysis
North America Market Forecast
North America dominates
the Upper Limb Prosthetics Market with the highest revenue generating market
with share of more than 46%. Technological advancements, an aging population,
and favorable reimbursement policies drive growth in the Upper Limb Prosthetics
Market. Robust research infrastructure fosters innovation, while comprehensive
insurance coverage ensures accessibility, collectively propelling the market
forward in North America.
Europe Market Statistics
Europe is the
second-largest market for Upper Limb Prosthetics. Europe's Upper Limb
Prosthetics Market thrives due to a robust healthcare infrastructure, an aging
population, and emphasis on comprehensive rehabilitation. These factors,
combined with increasing awareness, contribute to the region's dynamic
landscape for prosthetic innovation and accessibility.
Asia Pacific Market Forecasts
Asia Pacific is expected
to be the fastest-growing market for Upper Limb Prosthetics during the forecast
period. The Asia-Pacific region sees growth in the Upper Limb Prosthetics
Market driven by rising healthcare expenditure, awareness, and rapid
technological adoption. Increasing investment in healthcare infrastructure,
coupled with education campaigns, fosters accessibility to prosthetic services
and drives market expansion.
Key Market Players
The Upper Limb Prosthetics Market is dominated by a few large companies, such as
Ossur
Ottobock
Steeper Group
Open Bionics
Comprehensive Prosthetics & Orthotics
COAPT LLC
Mobius Bionics
Protonix
Motorica
Other
1.
Global
Upper Limb Prosthetics Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Upper Limb Prosthetics
Market Scope and Market Estimation
1.2.1. Global Upper Limb Prosthetics Overall
Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2033)
1.2.2. Global Upper Limb Prosthetics
Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033
1.3. Market Segmentation
1.3.1. Component of Global Upper Limb
Prosthetics Market
1.3.2. Product Type of Global Upper Limb Prosthetics Market
1.3.3. End-user of Global Upper Limb Prosthetics Market
1.3.4. Region of Global Upper Limb
Prosthetics Market
2.
Executive Summary
2.1. Global Upper Limb Prosthetics Market Industry Trends under COVID-19
Outbreak
2.1.1. Global COVID-19 Status Overview
2.1.2. Influence of COVID-19 Outbreak
on Global Upper Limb Prosthetics Market
Industry Development
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact Analysis of Drivers and
Restraints
2.3. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.4. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s Five Forces Analysis
2.5.1. Bargaining Power of Suppliers
2.5.2. Bargaining Power of Buyers
2.5.3. Threat of Substitutes
2.5.4. Threat of New Entrants
2.5.5. Competitive Rivalry
2.6. Value Chain / Ecosystem Analysis
2.7. Russia-Ukraine War Impacts
Analysis
2.8. Economic Downturn Analysis
2.9. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Upper Limb Prosthetics
Market Estimates & Historical Trend
Analysis (2019 - 2022)
4.
Global Upper Limb Prosthetics
Market Estimates & Forecast Trend
Analysis, by PRODUCT TYPE
4.1. Global Upper Limb Prosthetics
Market Revenue (US$ Mn) Estimates and Forecasts, by PRODUCT TYPE , 2019 to 2033
4.1.1. Passive Prosthetic Devices
4.1.2. Body Powered Prosthetic Devices
4.1.3. Myoelectric Prosthetic Devices
4.1.4. Hybrid Prosthetic Devices
5.
Global Upper Limb Prosthetics
Market Estimates & Forecast Trend
Analysis, by Component
5.1. Global Upper Limb Prosthetics
Market Revenue (US$ Mn) Estimates and Forecasts, by Component, 2019 to 2033
5.1.1. Prosthetic Arm
5.1.2. Prosthetic Elbow
5.1.3. Prosthetic Wrist
5.1.4. Prosthetic Shoulder
5.1.5. Others
6.
Global Upper Limb Prosthetics
Market Estimates & Forecast Trend
Analysis, by End-user
6.1. Global Upper Limb Prosthetics
Market Revenue (US$ Mn) Estimates and Forecasts, by End-user ,
2019 to 2033
6.1.1. Hospitals
6.1.2. Prosthetic Clinics
6.1.3. Others
7.
Global Upper Limb Prosthetics
Market Estimates & Forecast Trend
Analysis, by Region
7.1. Global Upper Limb Prosthetics
Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Middle East & Africa
7.1.5. South America
8.
North
America Upper Limb Prosthetics Market: Estimates & Forecast Trend Analysis
8.1.
North
America Upper Limb Prosthetics Market Assessments & Key Findings
8.1.1. North America Upper Limb
Prosthetics Market Introduction
8.1.2. North America Upper Limb
Prosthetics Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
8.1.2.1. By PRODUCT TYPE
8.1.2.2. By Component
8.1.2.3. By End-user
8.1.2.4. By Country
8.1.2.4.1. The U.S.
8.1.2.4.2. Canada
8.1.2.4.3. Mexico
9.
Europe
Upper Limb Prosthetics Market: Estimates & Forecast Trend Analysis
9.1. Europe Upper Limb Prosthetics
Market Assessments & Key Findings
9.1.1. Europe Upper Limb Prosthetics
Market Introduction
9.1.2. Europe Upper Limb Prosthetics
Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
9.1.2.1. By PRODUCT TYPE
9.1.2.2. By Component
9.1.2.3. By End-user
9.1.2.4.
By
Country
9.1.2.4.1. Germany
9.1.2.4.2. U.K.
9.1.2.4.3. France
9.1.2.4.4. Italy
9.1.2.4.5. Spain
9.1.2.4.6. Russia
9.1.2.4.7. Rest of Europe
10. Asia Pacific Upper
Limb Prosthetics Market: Estimates
& Forecast Trend Analysis
10.1. Asia Pacific Market Assessments
& Key Findings
10.1.1. Asia Pacific Upper Limb
Prosthetics Market Introduction
10.1.2. Asia Pacific Upper Limb
Prosthetics Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
10.1.2.1. By PRODUCT TYPE
10.1.2.2. By Component
10.1.2.3. By End-user
10.1.2.4. By Country
10.1.2.4.1. China
10.1.2.4.2. Japan
10.1.2.4.3. India
10.1.2.4.4. Australia
10.1.2.4.5. South Korea
10.1.2.4.6. ASEAN
10.1.2.4.7. Rest of Asia Pacific
11. Middle East & Africa Upper
Limb Prosthetics Market: Estimates
& Forecast Trend Analysis
11.1. Middle East & Africa Market
Assessments & Key Findings
11.1.1. Middle
East & Africa Upper
Limb Prosthetics Market Introduction
11.1.2. Middle
East & Africa Upper
Limb Prosthetics Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
11.1.2.1. By PRODUCT TYPE
11.1.2.2. By Component
11.1.2.3. By End-user
11.1.2.4. By Country
11.1.2.4.1. U.A.E.
11.1.2.4.2. Saudi Arabia
11.1.2.4.3. Egypt
11.1.2.4.4. South Africa
11.1.2.4.5. Rest of Middle East & Africa
12. South America
Upper Limb Prosthetics Market:
Estimates & Forecast Trend Analysis
12.1. South America Market Assessments
& Key Findings
12.1.1. South America Upper Limb
Prosthetics Market Introduction
12.1.2. South America Upper Limb
Prosthetics Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
12.1.2.1. By PRODUCT TYPE
12.1.2.2. By Component
12.1.2.3. By End-user
12.1.2.4. By Country
12.1.2.4.1. Brazil
12.1.2.4.2. Argentina
12.1.2.4.3. Colombia
12.1.2.4.4. Rest of South America
13. Competition Landscape
13.1. Global Upper Limb Prosthetics
Market Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
13.2. Global Upper Limb Prosthetics
Market Competition White Space Analysis, By End-user
13.3. Global Upper Limb Prosthetics
Market Competition Heat Map Analysis, By End-user
13.4. Global Upper Limb Prosthetics
Market Concentration & Company Market Shares (%) Analysis, 2022
14. Company Profiles
14.1.
Össur
14.1.1. Company Overview & Key Stats
14.1.2. Financial Performance & KPIs
14.1.3. Product Portfolio
14.1.4. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
14.2. Ottobock
14.3. Steeper Group.
14.4. Fillauer LLC
14.5. Open Bionics
14.6. Comprehensive Prosthetics
& Orthotics
14.7. COAPT LLC.
14.8. Mobius
Bionics.
14.9. Protonix
14.10. Motorica
14.11. Others
15. Research
Methodology
15.1. External Transportations /
Databases
15.2. Internal Proprietary Database
15.3. Primary Research
15.4. Secondary Research
15.5. Assumptions
15.6. Limitations
15.7. Report FAQs
16. Research Findings & Conclusion
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Frequently Asked Questions
What is the market size of Upper Limb Prosthetics Market in 2024?
Upper Limb Prosthetics Market was valued at USD 0.97 Billion in 2024.
What is the growth rate for the Upper Limb Prosthetics Market?
Upper Limb Prosthetics Market size will increase at approximate CAGR of 5.5% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the Upper Limb Prosthetics Market are Össur, Ottobock, Steeper Group., Fillauer LLC, Open Bionics, Comprehensive Prosthetics & Orthotics, COAPT LLC., Mobius Bionics., Protonix and Motorica and Others.
Which region dominates the Upper Limb Prosthetics Market?
North America dominates the market with an active share of 46%.
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