Upper Limb Prosthetics Market
Number of pages: 100 | Report Format: PDF | Published date: February 23, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 700.45 million |
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Revenue Forecast in 2030 |
US$ 1,068.41 million |
|
CAGR |
4.8% |
|
Base Year for Estimation |
2021 |
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Forecast period |
2022-2030 |
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Historical Year |
2020 |
|
Segments Covered |
Device Type, Component, End User and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global upper limb prosthetics market was valued at US$ 700.45 million in 2021 and is expected to register a revenue CAGR of 4.8% to reach US$ 1068.41 million by 2030.
Upper Limb Prosthetics Market Fundamentals
Upper limb prosthetics is an artificial device that substitutes a partially or completely missing hand or arm as a result of an accident, disease, illness, trauma, or congenital abnormality. The terminal device (TD), interposing joints, socket, suspension, and control system are all components of upper limb prostheses. Upper limb prostheses’ primary objectives are to suit each amputee’s vocational, recreational, and lifestyle needs while also producing an aesthetically acceptable result. Upper limb prostheses treatment is a customized procedure. Substantial technological advances in recent decades, particularly the use of myoelectric units and targeted muscle reinnervation (TMR), have greatly expanded the possibilities and capabilities of many Upper limb prosthesis users. Upper extremity prosthesis is classified into four types, namely, cosmetic or passive prosthetic devices, body-powered, myoelectric, and hybrid prostheses.
Body-powered systems control a TD and/or elbow by using body movements. Body-powered systems provide advantages, such as durability, lower cost, and weight when compared to other systems. They also provide the user with proprioceptive feedback. However, electric switches or myoelectric signals may be used to operate externally battery-powered systems. Other body components or residual limb movements within the socket can activate electric switches. Electromyographic (EMG) signals generated during muscle contractions are used by myoelectric systems. They can be controlled digitally or proportionally. The technology uses digital control to generate an on/off signal regardless of the intensity of the electromyography. In order to balance weight, cost, and cosmesis while accommodating differing anatomic levels, hybrid control systems combine body and external power control. Body-powered prostheses are more resilient, can be utilized in wet or unclean situations, and require less training time. Furthermore, myoelectric devices can improve cosmesis, alleviate phantom limb pain, and are more widely accepted for low-intensity tasks. Additionally, despite advances in technology and prosthetics, modern prosthetic technology is still far from replacing the dexterity and coordination of the human hand. Passive, body-powered, and externally powered hooks and hands are examples of prosthetic TDs. Passive TDs are generally used for cosmesis.
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Upper Limb Prosthetics Market Dynamics
The rising cases of sports injuries, such as tennis elbow, and other ailments, is likely to drive the market as the demand for treatments, including surgeries, rises. Tennis elbow is a common ailment that affects 1%-3% of the population, resulting in 4 to 7 incidences per 1000 people per year, according to 2020 data from the United Kingdom National Health Service. Because tennis elbow is so common in the country, demand for prosthetic elbow is expected to rise, propelling the industry ahead.
The increasing incidence of vehicle accidents around the world has boosted the demand for upper limb prosthetics. According to the National Highway Traffic Safety Administration’s Traffic Safety Statistics, pedal bicycle fatalities in the United States increased by 38% between 2010 and 2018. In Australia, a similar trend was observed, with 1,195 road crash deaths in 2019, marking a 5.3% increase over 2018. These events cause upper and lower limb injuries or diseases that may necessitate amputation. The increased number of traffic accidents and injuries is predicted to drive the utilization of upper limb prosthetics in arm amputation treatments, boosting industry growth. For instance, according to the National Highway Traffic Safety Administration of the United States Department of Transportation, the fatality rate increased to 1.36 fatalities per 100 million vehicle miles traveled from January to September 2021, a minor increase from the projected 1.35 fatalities at the same time in 2020.
Upper Limb Prosthetics Market Ecosystem
The global upper limb prosthetics market has been analyzed from four perspectives: device type, component, end user, and region.
Upper Limb Prosthetics Market by Device Type
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Based on device type, the global upper limb prosthetics market has been segmented into body-powered, passive/cosmetic, hybrid, and myoelectric.
The passive/cosmetic segment dominates the global market, owing to major variables, such as an increase in demand for upper limb prosthetic procedures, a rise in patient knowledge of prosthetic devices, and developments in prosthetic devices. Additionally, the presence of a cosmetic prosthesis is often beneficial for regaining self-confidence and has a positive influence on mental health. A cosmetic glove is used to match the color of the individual’s skin.
Upper Limb Prosthetics Market by Component
Based on component, the global upper limb prosthetics market has been segmented into prosthetic elbow, prosthetic wrist, prosthetic arm, prosthetic shoulder, and other components.
The prosthetic arm segment dominates the market due to an increase in the prevalence of joint problems in both developed and developing countries. In addition, an increase in demand for prosthetic arm devices, a rise in the cases of accidents, and a growth in the older population are driving market segment expansion.
Upper Limb Prosthetics Market by End User
Based on end user, the global upper limb prosthetics market has been segmented into hospitals, prosthetic clinics, and other end users.
The prosthetic clinics segment is expected to dominate the market during the forecast period owing to rising benefits offered by the clinics and rising government funding. Additionally, the increased accessibility of sophisticated prosthetic devices and technological advancements that cater to consumer needs based on their deformity and customization in upper limb prostheses are likely to increase product acceptance in these clinics.
Upper Limb Prosthetics Market by Region
Based on region, the global upper limb prosthetics market has been segmented into North America, Europe, Asia Pacific, and Rest of the World.
North America dominates the global upper limb prosthetics market. The direct presence of leading companies, a solid distribution network, and a well-established healthcare infrastructure are the primary forces driving market expansion in North America. Two current trends in the North America upper limb prosthetics market are the usage of novel polymer materials and the development of prosthetic devices suited to patients’ functional needs. Moreover, manufacturers are developing lightweight, long-lasting orthopedic prostheses to meet consumer demand. These factors have a positive impact on the North America market. Additionally, the United States contributed the most to the global upper limb prosthetics market. This can be ascribed to increase in knowledge of regional people about prostheses, the adoption of modern technology, the availability of qualified medical professionals, a rise in healthcare expenditure, and the highly developed healthcare infrastructure in the country. Moreover, the Défense Advanced Research Projects Agency (DARPA) of the United States Government, for instance, plays an important role in the development of next-generation technology in the upper limb prosthetics market. DARPA recently supported upper limb prosthetic devices that can meet sophisticated military needs. The effectiveness of a non-invasive electroencephalogram-based brain-computer interface (BCI) is another innovative gadget.
Asia Pacific and Europe are the two most promising regions in the upper limb prosthetics market. Emerging methods, such as the assessment of capacity for myoelectric control (ACMC), are likely to obliquely discover new capitalization opportunities for market participants. Furthermore, the India upper limb prosthetics market is expected to register growth at a lucrative revenue CAGR during the forecast period as a result of government programs to assist amputees, low prices of prosthetic implants, an expanding senior population, and advancements in healthcare technologies in the country.
Upper Limb Prosthetics Market Competitive Landscape
The prominent players in the global upper limb prosthetics market include:
Strategic Development
Upper limb prosthetics is an artificial device that substitutes a partially or completely missing hand or arm as a result of an accident, disease, illness, trauma, or congenital abnormality. The terminal device (TD), interposing joints, socket, suspension, and control system are all components of upper limb prostheses.
The upper limb prosthetics market is expected to be valued at 1.06 billion by 2030.
The upper limb prosthetics market is expected to register growth at a revenue CAGR of 4.8% during the forecast period.
Blatchford Limited, Fillauer LLC, Ortho Europe, and Mobius Bionics LLC are among the top market players.
The passive device type segment leads the global upper limb prosthetics market.
*Insights on financial performance are subject to the availability of information in the public domain