A prosthesis is an artificial device utilized to replace a missing limb that may have undergone amputation because of trauma or disease is called a prosthetic implant. Prosthetics is the field concerned with making and fitting such types of implants. Prosthetics aims to restore the normal functions of the missing body part. Upper limb prosthetics include the prosthetic wrist, prosthetic elbow, prosthetic shoulder, prosthetic arm, and terminal devices.
MARKET SCOPE
The "Global Upper Limb Prosthesis Market Analysis to 2028" is a specialized and in-depth study of the medical devices industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Upper limb prosthesis market with detailed market segmentation by component, product, cause, end use, and geography. The report provides key statistics on the market status of the leading Upper limb prosthesis market players and offers key trends and opportunities in the market.MARKET SEGMENTATION
- Based on component, the global Upper limb prosthesis market is segmented into prosthetic wrist, prosthetic elbow, prosthetic shoulder, prosthetic arm, terminal devices.
- On the basis of product, the market is segmented into passive prosthetic devices, body powered prosthetic devices, myoelectric prosthetic devices, hybrid prosthetic devices.
- On the basis of cause, the market is segmented into trauma, vascular disease and diabetes, cancer.
- On the basis of end use, the market is segmented into hospitals, prosthetic clinics, ambulatory surgical centers, others.
MARKET DYNAMICS
Drivers:
- Rise in the incidences of accidences and trauma.
- Rise in geriatric population.
- Technological advancements in prosthetics.
Restraints:
- The high cost of prosthetics is the major restraining factor for this market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Upper limb prosthesis market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Upper limb prosthesis market in these regions.
IMPACT OF COVID-19 ON UPPER LIMB PROSTHESIS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the Upper limb prosthesis market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Upper limb prosthesis market are anticipated to lucrative growth opportunities in the future with the rising demand for Upper limb prosthesis in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Upper limb prosthesis market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Ottobock SE & Co. KGaA
- Endolite India Ltd.
- Ossur
- Fillauer LLC
- College Park Industries
- Steeper Inc.
- TRS Inc.
- Howard Orthopedics Inc.
- WillowWood Global LLC
- CPOUSA
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.