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Base Year: 2023
Companies covered: 15
Tables & Figures: 111
Countries covered: 19
Pages: 140
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Upper Limb Prosthetics Market
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Upper Limb Prosthetics Market Size
The global upper limb prosthetics market was valued at USD 848.8 million in 2023 and is expected to exhibit growth at a CAGR of 5% from 2024 to 2032 period. The factors that drive the growth of the market include increased incidences of limb loss, rising development of technology, coupled with the increasing demand for customized prosthetics.
The increasing prevalence of diabetes and trauma related to vascular diseases increases the risk of limb loss, that further propels the demand for upper limb prosthetics, thereby contributing to market growth. For instance, according to the National Limb Loss Resource Center close to two million residents within the U.S. live with limb loss. The major cause of limb loss includes vascular disease tops accounting for 54% of the total, while trauma is responsible for 45%, and lastly, cancer, which hovers below 2%. Thus, the growing population with limb loss increases the demand for prosthetic solutions.
There has been a visible increase in the demand for rehabilitation services and healthcare, which in turn enhances the availability of prosthetics. Furthermore, access to specialized clinics is made available to the general population; as a result, the quality-of-life increases, and the integration of prosthetics into everyday activities is not as difficult as before, thereby contributing market growth.
Upper limb prosthetic involves the construction, fitting, and design of artificial fingers, arms, and hands to replace the lost limb. The main aim is to restore the function of individuals with limb loss in a manner that improves their quality of life.
Upper Limb Prosthetics Market Trends
The growing trend on telehealth and remote patient monitoring solutions, increasing interest in integrated neuro prosthetics and brain-machine interfaces, and incorporation of wearable technologies, fuel the growth of the sector.
Upper Limb Prosthetics Market Analysis
Based on component, the market is classified into prosthetic wrist, prosthetic elbow, prosthetic shoulder, prosthetic arm, and terminal devices. The prosthetic arm segment generated the highest revenue of USD 267.4 million in 2023.
Based on product, the upper limb prosthetics market is classified into passive prosthetic devices, body powered prosthetic devices, myoelectric prosthetic devices, and hybrid prosthetic devices. The passive prosthetic devices segment dominated the market in 2023 with a market share of 34%.
Based on end use, the upper limb prosthetics market is segmented into hospitals, prosthetic clinics, and ambulatory surgical centers. The prosthetic clinics segment dominated the market in 2023 and is anticipated to reach USD 800.9 million by the end of forecast period.
North America upper limb prosthetics market accounted for USD 370.7 million market revenue in 2023 and is anticipated to grow at a CAGR of 4.8% between 2024 – 2032 period.
Germany upper limb prosthetics market is projected to grow remarkably in the coming years.
China holds a dominant position in the Asia Pacific upper limb prosthetics market.
Upper Limb Prosthetics Market Share
The market for upper-limb prosthetics is made up of several marketing leaders and advanced companies, all of which are dominated by key businesses that aim to develop technologies such as smart prosthetics and myoelectric surgical prosthetics that would improve the experience of users. Manufacturers, healthcare providers, and research institutions are coming together in partnerships that fuel innovation and product development. The increasing demand for personalized devices and customization is pushing organizations to customize solutions according to user’s need, which increases competition in the industry.
Upper Limb Prosthetics Market Companies
Prominent players operating in the upper limb prosthetics industry include:
USPs for the top market players:
Upper Limb Prosthetics Industry News:
The upper limb prosthetics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Component
Market, By Product
Market, By End Use
The above information is provided for the following regions and countries: