openPR Logo
Press release

What's Operating the Upper Limb Prosthetics Market, Worldwide Industry Growth? Touch Bionics Inc., Fillauer LLC, Endolite India Ltd., Ottobock SE & Co. KGaA, College Park Industries, Steeper Inc., and TRS Inc.

05-30-2019 04:13 PM CET | Health & Medicine

Press release from: Future Market Insights

What's Operating the Upper Limb Prosthetics Market, Worldwide

Upper limb prosthetic sales in 2019 are estimated to close in on US$ 330 Mn, and record a Y-o-Y growth of 4.4% over 2018, according to a new study of Future Market Insights (FMI). Upper limb prosthetics have been witnessing progressing sales scenario at a modest pace over the recent past. Besides a rising trend of cosmetic prosthetics, prevalence of sports injuries is significantly contributing to the demand growth of upper limb prosthetics in the global market.

FMI forecasts a 4.8% CAGR for the upper limb prosthetics market revenue over 2018-2028. The report has tracked some of the most prominent players active in the global upper limb prosthetics market, including Fillauer LLC, Touch Bionics Inc., Endolite India Ltd., College Park Industries, and Ottobock SE & Co. KGaA, among others.

Use of additive manufacturing/3D printing for prosthetics has been gaining momentum within the marketplace, particularly among amputees who are unable to afford the high price point associated with conventional limb prosthetics. Adoption of upper limb prosthetics has been pervasive at hospitals, at a steadily increasing rate. FMI expects a higher rate of adoption across prosthetic clinics in the years to come. However, an expensive price point, coupled with mass production incompatibility, is most likely to limit rapid revenue growth of upper limb prosthetics market.

Several prominent players in the competitive landscape of upper limb prosthetics market are prioritizing new product launches eyeing the opportunities lying in competitive price ranges. While this strategy is likely to aid companies improve penetration into developing markets, others will also focus on development of convenient accessories to assist the usage of upper limb prosthetics – such as hand gloves.

Request to Download a Sample of Research Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8991

As per FMI’s analysis, a considerable number of companies competing in upper limb prosthetics market are concentrating on providing rehabilitative prosthetic services and amputee care. Consistently increasing demand for prostheses following accidental and aging related disabilities will primarily push sales of upper limb prosthetics. Rapid surge in the number of orthopedic disorders and post-traumatic disabilities will also remain a key factor determining demand for upper limb prosthetics in the near future, according to the report.

Prosthetic Wrist to Hold over One-Fourth Market Share

Transradial disarticulation (below elbow) will remain the key indication generating maximum demand for upper limb prosthetics. The report points to a higher revenue share of over 1/4th of the total value, collectively contributed by wrist disarticulation and transhumeral disarticulation (above elbow). Sale of partial hand has also been registering a moderately growing share in the market revenue.

Prosthetic wrist sales account for over a fourth of the total market value whereas, prosthetic arm is likely to develop highest-selling potential in the years to come. Prosthetic elbow and terminal devices are currently among highly sought after components of upper limb prosthetics after prosthetic wrist, according to FMI’s study. The combined revenue share of these two in the market has been anticipated to be more than 45% in 2019. However, prosthetic shoulders will also continue to experience moderate demand over the course of next few years.

Almost 2/5th of the total demand for upper limb prosthetics is accounted by myoelectric prosthetic devices, followed by body powered counterparts. As per FMI’s analysis, passive prosthetic devices can be positioned as a relatively lucrative type of upper limb prosthetics.

North America & Europe Hold over 55% Share in Market Value

While more than 55% share of the global market revenue is contributed by developed regional markets, the penetration of upper limb prosthetics within most of the developing regions remains in its latency. According to FMI’s study, the market in China, India, and some of the fast-developing economies in East and South Asia economies hints at promising growth prospects post 2019. The report attributes this growth to the sophistication of healthcare infrastructure, improvements in reimbursement scenario, rapid expansion of the patient pool, and the flourishing medical tourism sector.

Increasing per capita healthcare spending, spike in the private and public investments in R&D, and the influx of activities involving shifting of manufacturing bases to developing regional pockets have also been instrumental in establishing a positive growth outlook for upper limb prosthetics market in these regions.

Needs More Detailed Information about Methodology @ https://www.futuremarketinsights.com/askus/rep-gb-8991

Upper Limb Prosthetics Market Reports - Table of Contents
1. Executive Summary

     1.1. Market Overview

     1.2. Market Analysis

     1.3. FMI Analysis and Recommendations

2. Market Introduction

     2.1. Market Taxonomy

     2.2. Market Definition

     2.3. Exclusion and Inclusion

3. Upper Limb Prosthetics Market Opportunity Analysis 

     3.1. Macro-Economic Factors

     3.2. Opportunity Analysis

4. Market Background

     4.1. Market Dynamics

            4.1.1. Drivers

            4.1.2. Restraints

            4.1.3. Trends

5. Key Inclusions

     5.1. Regulations and Guidelines

     5.2. Regulatory Scenario

     5.3. Evolution and Trends

     5.4. Product Mapping

6. Global Economic Outlook

7. Global Upper Limb Prosthetics Market Analysis 2013–2017 and Forecast 2018–2028 By Region

     7.1. Introduction / Key Findings

     7.2. Historical Market Size (US$ Mn) Analysis By Region

            7.2.1. North America

            7.2.2. Latin America

            7.2.3.  Europe

            7.2.4. East Asia

            7.2.5. South Asia

            7.2.6. Oceania

            7.2.7. Middle East and Africa

            7.2.8. China

            7.2.9. India

            7.2.10. Mexico 

     7.3. Market Size (US$ Mn) Forecast By Region

     7.4. Market Attractiveness Analysis By Region

8. Global Upper Limb Prosthetics Market Analysis 2013–2017 and Forecast 2018–2028, By Product Type

     8.1. Introduction/Key Finding

     8.2. Historical Market Size (US$ Mn) Trend Analysis By Product Type, 2013-2017

            8.2.1. Passive Prosthetic Devices

            8.2.2. Body Powered Prosthetic Devices

            8.2.3. Myoelectric Prosthetic Devices

            8.2.4. Hybrid Prosthetic Devices

     8.3. Market Size (US$ Mn) Forecast By Product Type, 2018-2028

     8.4. Market Attractiveness Analysis By Product Type

Request to Browse Report Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-8991

About Us

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact Us

U.S. Office

616 Corporate Way, Suite 2-9018,

Valley Cottage, NY 10989,

United States

T: +1-347-918-3531

F: +1-845-579-5705

Email: sales@futuremarketinsights.com

Blog: http://keepfacts.com/

Web: https://www.futuremarketinsights.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release What's Operating the Upper Limb Prosthetics Market, Worldwide Industry Growth? Touch Bionics Inc., Fillauer LLC, Endolite India Ltd., Ottobock SE & Co. KGaA, College Park Industries, Steeper Inc., and TRS Inc. here

News-ID: 1759826 • Views:

More Releases from Future Market Insights

Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Million by 2032
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolstered by a Robust 7.1% CAGR from 2022
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of the Metal Cans Industry, Catering to Health-conscious and Environmentally-aware Consumers
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033. The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 with a 4.8% CAGR
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute

All 5 Releases


More Releases for Prosthetic

Intelligent Prosthetic Market Overall Study Report 2022-2028 | Blatchford, Intel …
According to Coherent Market Insights latest research, the Intelligent Prosthetic Market is expected to achieve the greatest growth between 2022 and 2028. The focus of this Intelligent Prosthetic market intelligence report is based on skilled research insights and complete industry dynamics to focus on current trends, industry financial overview, and historical data evaluation. The company profile is based on the current Intelligent Prosthetic market performance (including driving factors, trends, and
Global Prosthetic Liners Market Growth 2019-2024
The prosthetic liner acts as a sort of "second skin" between the movable soft tissue of the residual limb (muscles, tissue, skin) and the hard shell of the socket. This reduces movement and friction between the skin and prosthetic socket and therefore reduces the forces in the socket described earlier. The prosthetic liner connects your residual limb to the prosthetic, cushioning the sensitive skin on the residual limb and thereby
Prosthetic Heart Valve Market – Latest Developments
Prosthetic Heart Valve Market report 2018-2026 focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The Prosthetic Heart Valve market research report is a professional and in-depth study on the current state of Prosthetic Heart Valve Industry. The Prosthetic Heart Valve Market research report covers the present scenario and
Prosthetic Liners Market - Global Strategic Business Report
The prosthetic liner is a protective cover worn over a residual limb. It is made from a flexible cushioning material, which reduces chafing and movement between the socket and the skin. Liners are the best available means of reducing bone pressure, preventing skin abrasions in the prosthesis, and improving socket suspension for amputees. Modern day liners are equipped with special features such as antibacterial shields and additives, anatomical shaping, textile
Prosthetic Legs Market
Artificial devices used to replace missing limbs lost due to birth defect or amputation are called prosthetics.Aprt from birth defects, various medical conditions such as circulation problems, traumatic injuries, cancer, and diabetes can lead to amputation of limbs. The prosthetic leg helps carry out the basic functions of supporting the body and helps the person with body movement to perform daily activities. Due to the technological advancements, more comfortable and functional
Prosthetic Legs Market
Artificial devices used to replace missing limbs lost due to birth defect or amputation are called prosthetics.Aprt from birth defects, various medical conditions such as circulation problems, traumatic injuries, cancer, and diabetes can lead to amputation of limbs. The prosthetic leg helps carry out the basic functions of supporting the body and helps the person with body movement to perform daily activities. Due to the technological advancements, more comfortable and functional