Prosthetics are medical devices that are used to replace a missing body part or to improve the function of a body part. Prosthetics are most typically used to replace missing limbs and joints. Individuals who have lost limbs or have congenital limb differences from birth wear prosthetic devices. There are several types of prosthetic equipment available to help patients regain movement. The prosthetics that are currently available improve the quality of life of patients by facilitating the movement required to manage daily activities. Lower extremity prosthetic devices enable people to run, walk, and participate in sports. The increased activity gives folks more independence and confidence.
Prosthetics Market Overview:
This Prosthetics Market analysis examines present and developing market trends and dynamics in the worldwide level sensor market. Prosthetics In-depth market forecasting for the main market segments between 2021 and 2027 is carried out. Extensive Prosthetics market analysis is carried out by attentively monitoring important product positioning and the market framework's top competitors. Key competitors are profiled and their tactics are extensively examined to grasp the competitive perspective of the Prosthetics market.
The COVID-19 pandemic has had a severe influence on the worldwide Prosthetics business. Prosthetics production facilities have been suspended due to downturn and personnel scarcity. The COVID-19 pandemic has resulted in a severe and prolonged decline in production utilization, and travel bans and facility closures have kept employees away from their facilities, resulting in a slowdown in the growth of the Prosthetics market in 2020. However, the negative impact of COVID-19 on the Prosthetics market is projected to be temporary, and the industry is predicted to rebound rapidly by early 2021, owing to the high demand for Prosthetics .
Key Insights:
Prosthetics Market size was valued at USD 1.6 Bn in 2022 and the total Prosthetics revenue is expected to grow at a CAGR of 4.5% from 2023 to 2029, reaching nearly USD 2.5 Bn
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Prosthetics Market Scope:
The research includes an up-to-date study of the current Prosthetics market landscape, as well as the most recent trends and drivers, as well as an overview of the overall Prosthetics market environment. The market is being driven by increased demand for Prosthetics . The Prosthetics market study looks at the technology, end-user, and type categories, etc. as well as the regional landscape.
Prosthetics Market Drivers:
The market for prosthetics is moderately competitive, with numerous main firms competing. Because prosthetics are specialised items, not many medical device makers have them in their pipeline. To some extent, this is resulting in market consolidation. In response to the increased demand for and availability of suitable reimbursement, various players have entered the market in North America. Players emphasising traditional prosthetics have a significant hold in low- and middle-income countries.
Prosthetics Market Segmentation:
by Product
1. Upper Extremity Prosthetics
2. Lower Extremity Prosthetics
3. Sockets
4. Other Products
by Technology
1. Conventional
2. Electric Powered
3. Hybrid Orthopedic Prosthetics
by End User 1. Hospitals
2. Prosthetic Centers
3. Other End Users
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Key Players:
The market research study includes thorough quantitative insights that offer a clear picture of the market potential in numerous categories, as well as country-by-country analysis in each covered area. The study examines the market's main affecting elements, as well as detailed company profiles of….
1. Aesthetic Prosthetics Inc.,
2. Össur, Blatchford Limited,
3. Integra Life Sciences Holdings,
4. Steeper Group, Ottobock SE & Co.
5. KGaA (suit X), Stryker Corporation,
6. B. Braun Melsungen AG
7. Aether Biomedical
8. Mobius Bionics LLC
9. WillowWood Global LLC.
10. Uniprox (Bauerfeind)
11. Ortho Europe
12. Fillauer LLC (Fillauer Companies, Inc.)
13. Hanger, Inc. (U.S.)
14. Ultra flex Systems Inc.
15. Healthcare GmbH
16. College Park Industries
17. exiii Inc.
18. OttoBock Healthcare GmbH,
19. Deka Research and Development Corporation
20. ProtUnix,
21. Johnson & Johnson Services, Inc.,
22. Smith & Nephew
23. Stryker Corporation, Zimmer Biomet
Regional Analysis:
The region segment of the Prosthetics Market analysis also contains individual market influencing aspects and changes in market regulations that affect current and future market trends. Data points such as downstream and upstream value chain analysis, technological trends, porter's five forces analysis, and case studies are just a few of the indicators used to forecast market scenarios for various areas. When analyzing prediction data for the region, the existence and availability of players, as well as the difficulties they encounter owing to large or low to none rivalry from local and domestic brands, are all taken into account.
Key Questions Answered in the Prosthetics Market Report are:
- Which segment emerged as the leading segment in the Prosthetics market?
- Which are the key players in the Prosthetics market?
- What trends are likely to emerge in the Prosthetics market in the coming years?
- What will be the Prosthetics market size by 2027?
- Which company held the largest share in the Prosthetics market in 2020?
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