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.

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.