North America to Lead the Global Artificial Limbs Market during the Projected Period

As indicated by the National Limb Loss Information Center, there are roughly 1.7 million people living with lost limbs in the United States. It is assessed that one out of each 200 individuals in the U.S. has amputated limbs.  The most widely recognized explanation behind amputation are diabetes), injury and various types of cancers. However innovations in technology and novel materials have brought about enhanced products, which are easier to adapt. Recognizing the need of artificial limbs, Market Research Reports Search Engine (MRRSE) has been added a new research report titled, “Artificial Limbs Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025,” in its database that tracks the performance of the global artificial limbs market. According to this research report, the global market for artificial limbs was valued US$ 1,750.0 Mn in 2016, and in anticipated to touch the value of US$ 2,869.3 Mn by the end of 2025, expanding at a CAGR of 5.7% between 2017 and 2025.

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Global Artificial Limbs Market- Segmental Analysis and Forecast

The global market for artificial limbs is segmented into product, end-user, and technology. Technology segment is consists of cosmetic prosthetics, electrically powered/ Myoelectric, cable operated/ body powered, and others. The segment known as electrically powered or myoelectric is likely to dominate the market throughout the assessed period. In 2016, this segment captured around 41.7% revenue share of the overall market. Some of the reasons behind the popularity and demand of this segments are increasing per capita income which create the capacity to spend more on new technology, affordability of maintenance cost, better grip option and excellent customization. 

Product segment includes liners, upper extremity, sockets, lower extremity and others. Among all these segments higher growth will be showed by lower extremity segment and the key reasons behind it are growing incidents of road accidents and increasing occurrence of vascular diseases. The end user segment is broadly categorized into prosthetic clinics, hospitals and rehabilitation centers. 

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Global Artificial Limbs Market- Regional Analysis

As many as five regions have been covered in this report, such as MEA, Asia Pacific, Latin America, Europe and North America. The region of North America has not only dominated the market by revenue share in 2016, but the region is likely to retain its position number one position in the years to come. No wonder, the region is performing well in the global market for artificial limbs because of tremendous public awareness, and government’s unprecedented support. Besides, increasing per capita income of the population residing in the region and launch of new technologies are the factors which are equally responsible for this growth in the region. 

Global Artificial Limbs Market- Key Vendors

These are the few companies which are playing major role in the popularity of the artificial limbs market- Optimus Prosthetics, Össur, Spinal Technology, Inc. Hanger, Inc., Fillauer LLC, Ohio Willow Wood Company, Liberating Technologies, Inc., RSL Steeper Group Ltd, PROTEOR, Blatchford Group, and Ottobock.

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