Pune, 26, April 2023: Over the forecast period, Maximize Market Research expects the Prosthetics Market growth from USD 1.6 Bn in 2022 to USD 2.5 Bn in 2029 at a CAGR of 4.5 percent. The report analyzed by Maximize Market Research, on the Prosthetics market, covers an extensive regional analysis and competitive landscape.
Prosthetics Market Scope and Methodology
The Prosthetics Market report includes current trends and market highlights, assisting clients in exploring lucrative opportunities in the market. The report covers insights into the major drivers, challenges, and major restraints of the Prosthetics Market. During the forecast period, the report covers market size with estimations and growth rates. To understand market penetration, competitive structure, pricing and demand analysis, regional market analysis is carried out at the local, regional, and global levels.
For a competitive landscape of the Prosthetics Market, Key players are collected based on several parameters that involve the products and services offered, revenue generated, technological advancements adopted and mergers and acquisitions. The bottom-up approach was used for Prosthetics market estimation. Data is collected using primary and secondary collection methods with qualitative and quantitative approaches. Primary data include surveys, questionnaires and telephonic interviews with market experts, market leaders and business owners. Secondary data was taken from annual reports, financial reports, government organizations’ sites and white papers.
SWOT, PESTLE and Porter were used for the Prosthetics Market analysis for the Micro and macro factors affecting the Prosthetics Market presented. Thus the report act as a guide for investors, stakeholders, and market followers of the market.
Prosthetics Market Dynamics
The loss of limbs is happening due to several reasons such as diabetes, cancer, accidental injuries, blood vessel diseases, etc., and are the major causes of amputations. As a result, to improve patient lifestyles, increasing need for prosthetic devices. Thus, the increasing number of amputations boosts the growth of the Prosthetics Market.
Prosthetics Market is driven by the growing adoption of technology in limb Prosthetics, increasing demand for Prosthetics devices, significant investment by the government for the development of Prosthetics, a strong base of medical device industries and an increase in the awareness towards the benefits of the Prosthetics and increase in research activities by manufacturers for the development of the innovative solutions in the Prosthetics.
Over the forecast period, the market growth is expected to be constrained by the high cost and maintenance associated with Prosthetics.
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Prosthetics Market Regional Insights
In 2022, North America dominated the Prosthetics Market with the largest market share. The regional market is driven by the increasing number of incidences of limb loss from accidents, diabetes and bone disorders, the increasing geriatric population and rising the number of sports injuries. The United States is the major contributor to the region in the Prosthetics Market due to the increase in cases of diabetes and the increase in the number of available and well-developed healthcare infrastructure.
During the forecast period, the Asia Pacific is expected to have the highest growth for the Prosthetics Market. The increase in the prevalence of diabetes, the rising geriatric population, increasing incidences of accidental limb loss and the growing adoption of technology in Japan are the influencing factors for the regional market growth.
Prosthetics Market Segmentation
By Product
- Upper Extremity Prosthetics
- Lower Extremity Prosthetics
- Sockets
- Other Products
By Technology
- Conventional
- Electric Powered
- Hybrid Orthopedic Prosthetics
By End User
- Hospitals
- Prosthetic Centers
- Other End Users
Prosthetics Market Key Players Include:
- Aesthetic Prosthetics Inc.,
- Össur, Blatchford Limited,
- Integra Life Sciences Holdings,
- Steeper Group, Ottobock SE & Co.
- KGaA (suit X), Stryker Corporation,
- B. Braun Melsungen AG
- Aether Biomedical
- Mobius Bionics LLC
- WillowWood Global LLC.
- Uniprox (Bauerfeind)
- Ortho Europe
- Fillauer LLC (Fillauer Companies, Inc.)
- Hanger, Inc. (U.S.)
- Ultra flex Systems Inc.
- Healthcare GmbH
- College Park Industries
- exiii Inc.
- OttoBock Healthcare GmbH,
- Deka Research and Development Corporation
- ProtUnix,
- Johnson & Johnson Services, Inc.,
- Smith & Nephew
- Stryker Corporation, Zimmer Biomet
Table of Content for Global Prosthetics Market:
- Global Prosthetics Market: Research Methodology
- Global Prosthetics Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Prosthetics Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by Region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Prosthetics Market Segmentation(2022-2029)
- Global Market, by Product (2022-2029)
- Global Market, by Technology (2022-2029)
- Global Market, by End User (2022-2029)
- Regional Prosthetics Market (2022-2029)
- Regional Market, by Product (2022-2029)
- Regional Market, by Technology (2022-2029)
- Regional Market, by End User (2022-2029)
- Regional Market, by Country (2022-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis of the Product, Technology, End User and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Recommendations
Key questions answered in the Prosthetics Market are:
- What are Prosthetics?
- What is the CAGR of the Prosthetics Market?
- What was the Prosthetics Market size in 2022?
- What is the expected Prosthetics market size during the forecast period?
- What is the scope of the Prosthetics Market?
- What are the Key driving factors for the growth of the Prosthetics Market?
- What are the different segments of the Prosthetics Market?
- What are the factors restraining the growth of the Prosthetics Market?
- What is the demand pattern of the Prosthetics Market?
- What are the major challenges that the Prosthetics Market could face in the future?
- What growth strategies are the players considering to increase their presence in Prosthetics?
- What are the upcoming industry applications and trends for the Prosthetics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Prosthetics Market?
- What are the top players operating in the Prosthetics Market?
- Which region accounted for the largest market share in the Prosthetics Market?
- Market?
Maximize Market Research is leading Medical Devices and research firm, has also published the following reports:
Bioprosthetics Market – The market size is expected to reach USD 10.49 Bn by 2029 at a CAGR of 10.3 percent during the forecast period. The market is driven by the growing geriatric population and increasing demand for advanced technological products providing long-term relief.
Neuroprosthetics Market – The market size is expected to reach USD 21.79 Bn by 2029 at a CAGR of 11.32 percent during the forecast period. The market is driven by the increase in awareness of the neuroprosthetics process, enhanced technological healthcare support and better infrastructural facility across developing countries.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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