Global Upper Limb Prosthetics Market Poised to Expand at 4.8 % CAGR During 2018 - 2028

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Upper Limb Prosthetics Market to Showcase Healthy
Expansion at 4.8 CAGR by 2028 End

• Feb 2020

Report Id REP-GB-8991 Published On 25 Feb,
2019 Category Healthcare, Pharmaceuticals
Medical Devices
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Upper Limb Prosthetics Market

• VALLEY COTTAGE, N.Y. (GLOBE NEWSWIRE) -- 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.
• 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.

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Upper Limb Prosthetics Market

• As per FMIs 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 FMIs 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 FMIs analysis, passive
  prosthetic devices can be positioned as a
  relatively lucrative type of upper limb
  prosthetics.

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Upper Limb Prosthetics Market

• 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 FMIs 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 RD, 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.  
• 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.
• Press-release Source  https//www.globenewswire.c
  om/news-release/2019/02/27/1743385/0/en/Upper-Limb
  -Prosthetics-Market-to-Grow-at-4-8-CAGR-by-2028-Fu
  ture-Market-Insights.html

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Upper Limb Prosthetics Market

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  syndicated research reports, custom research
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  intelligence, statistical anecdotes, technology
  inputs, valuable growth insights and an aerial
  view of the competitive framework and future
  market trends.
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