|02-11-2019 01:24 PM CET - Advertising, Media Consulting, Marketing Research||
Artificial limbs Market by Type, Technology, Material, End user and Geography. Key Players are Össur, Corporation (Iceland), Ohio Willow Wood Company (U.S.), Ottobock (Germany), RSL Steeper Group Ltd (UK), PROTEOR (France), Blatchford Group (UK), Liberat
Press release from: Precision Business Insights
Precision Business Insights (PBI) in its report titled “Artificial Limbs Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The artificial limbs market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. Rising geriatric population who are highly prone to the bone and muscle related disorders and diseases like osteoarthritis and osteoporosis will create a demand for the growth of the artificial limbs market. Increasing cost burden of the surgeries, lack of skilled professionals, lack of reimbursement policies are hampering the growth of the artificial limbs market.
Artificial limbs market segmented on the basis of product type, technology, material, end user, and geography
Myoelectric or Electrically Powered Segment Expected to Dominate the Market
Based on technology, artificial limbs market is segmented into body powered or cable operated, cosmetic prosthetics, myoelectric or electrically powered, and others. At present, technology-wise, the myoelectric or electrically powered type of artificial limbs is expected to take the forefront. The myoelectric segment held a substantial market share of almost XX% in the year 2016. The segment is predicted to hold on to the considerable market share over the forecast period as well. The myriad features of myoelectric artificial limbs, such as advanced degree of customization along with higher number of options for better grip are significant factors propelling the market segment.
North America, Accounts for Major Revenue Share for Artificial Limbs Market
Precision Business Insights (PBI), artificial limbs market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, North America accounted for major revenue share owing to the rise in acceptance of technological advanced products, huge patient affordability, and well-established healthcare infrastructure. Europe artificial limbs market is anticipated to hold next position to North America due to the substantial advancements in the technology. Asia-Pacific artificial limbs market is anticipated to show high growth during the forecast period owing to growing geriatric population, developing healthcare infrastructure, and rising healthcare spending.
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Strategic Acquisitions Play Vital Role in Artificial Limbs Market
Market strategies such as acquisitions play an important role in development of the artificial limbs market. For instance, Fillauer has acquired operations from California to Sweden since 1996. Instead of the wooden legs of the early 1900s, the company manufactures more than 30,000 distinct products for customers who have a missing or injured limb.
Key players in the market include Össur, Corporation (Iceland), Ohio Willow Wood Company (U.S.), Ottobock (Germany), RSL Steeper Group Ltd (UK), PROTEOR (France), Blatchford Group (UK), Liberating Technologies, Inc. (U.S.), Fillauer LLC (Sweden), Spinal Technology, Inc. (U.S.), Optimus Prosthetics (U.S.).
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By Product Type
o Lower Extremity
o Upper Extremity
o Compression Therapy
o Body Powered or Cable Operated
o Cosmetic Prosthetics
o Myoelectric or Electrically powered
By End Users
o Orthopaedic Clinics
o Ambulatory surgical Centres
o Rehabilitation Centres
o Prosthetic Clinics
o North America
Rest of Europe
Rest of Asia Pacific
o Latin America
Rest of Latin America
o Middle East and Africa
Gulf Cooperation Council Countries(GCCC)
Rest of MEA
About Precision Business Insights
Precision Business Insights is one of the leading market research and business consulting firm, which follow a holistic approach to solve needs of the clients. We adopt and implement proven research methodologies to achieve better results. We help our clients by providing actionable insights and strategies to make better decisions. We provide consulting, syndicated and customised market research services based on our client needs.
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This release was published on openPR.
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