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Upper Limb Prosthetics Market Trends

Report ID: GMI4235
Published Date: Nov 2024
Report Format: PDF

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Upper Limb Prosthetics Market Trends

The market is experiencing several market trends that are shaping its growth and development. Factors such as the increased adoption of telehealth and remote monitoring solutions, a growing demand for integrated neuroprosthetics and brain-machine interfaces, and a surging need for incorporating wearable technology, among others, are boosting industry growth.

Moreover, the rise of smart prosthetics incorporating sensors, AI, and machine learning is transforming the market. These advanced devices offer real-time feedback, enhanced control, and improved interaction with the environment, significantly boosting user experience and functionality.
Additionally, there is a growing trend toward personalized prosthetic solutions tailored to individual needs and preferences. Customization options, such as 3D printing, allow for better-fitting devices, customized aesthetics, and enhanced functionality, attracting more users. These factors are expected to drive market growth.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

The global upper limb prosthetics industry was valued at USD 848.8 million in 2023 and is expected to grow at a 5% CAGR from 2024 to 2032, driven by rising limb loss incidences and advancements in prosthetic technology.

The prosthetic arm segment generated the highest revenue of USD 267.4 million in 2023, bolstered by innovations in robotics, advanced sensors, and AI.

The North America market recorded USD 370.7 million in 2023 and is anticipated to grow at a 4.8% CAGR from 2024 to 2032, driven by continuous technological advancements in healthcare.

Key players in the market include COVVI, CPOUSA, Endolite India, exiii, Fillauer, Mobius Bionics, Motorica, Open Bionics, and Ortho Europe.