Selbyville, Delaware, Jan. 11, 2021 (GLOBE NEWSWIRE) -- According to reliable predictions, global prosthetics market had reached a valuation of USD 1281.39 million in the year 2019 and is expected to register a y-o-y growth rate of 4.7% between 2020 and 2025. This rapid expansion can be attributed primarily to high occurrence of diabetes among geriatric population, decreasing cost of the product, and technological advancements in this business space.
Besides, the research document offers critical information regarding various market segmentations and entails their individual effect on the remuneration scale of this industry landscape. It evaluates the regional scope of the market and provides a detailed SWOT analysis of the leading companies operating in this business vertical, further ensuring high-quality decision making during investment discussions.
There has been an increase in number of osteosarcoma cases across the globe. In addition, alarming surge in the frequency of road accidents coupled with increased pervasiveness of diabetes-related amputations have augmented the demand for prosthetics, thereby stimulating the overall industry outlook.
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Collective inclination towards adopting sports as a career has augmented the number of sports-related injuries. Additionally, availability of advanced orthotics and prosthetics is adding traction to global prosthetics market size.
A gist of the market segmentations
End-User scope
The end-user reach of the worldwide prosthetics market consists of prosthetics clinics, hospitals, and others. Estimates cite that prosthetics clinics segment is predicted to expand significantly during the forecast period. Focus among companies towards investing as well as acquiring prosthetics clinics for better product delivery is fueling the segmental share.
Technology Type
In terms of technology type, the market is split into mechanical limbs and bionic limbs, wherein the former segment currently accounts for the largest industry share and is likely to witness consistent growth throughout the forecast period. Rising prevalence of diabetes among geriatric population along with their ineligibility for using bionic limb is boosting the demand for mechanical limbs.
Geographical Landscape
Worldwide prosthetics market space is divided into North America, Europe, and Asia-Pacific, with primary focus on countries such as Canada, United States, Germany, France, Italy, United Kingdom, South Korea, Japan, China, and India among others.
As per authentic estimations, North America captured the largest share in global prosthetics market in the year 2019 and is anticipated to showcase similar expansion trends in the forthcoming years. It is to be noted that North America has ever-increasing cases of osteosarcoma as well as sports-related injuries. Furthermore, surging R&D investments, supportive regulatory outlook, and availability of advanced healthcare infrastructure are favoring the regional market scenario.
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Meanwhile, Asia-Pacific prosthetics market is slated to register a robust CAGR through 2025, primarily due to high frequency of diabetes-related amputations, surging number of road accidents, and favorable government initiatives.
Global Prosthetics Market End-user Analysis (Revenue, USD Million, 2015-2025)
- Prosthetics Clinics
- Hospitals
- Others
Global Prosthetics Market by Technology Type (Revenue, USD Million, 2015-2025)
- Mechanical Limb
- Bionic Limb
Global Prosthetics Market by Application Reach (Revenue, USD Million, 2015-2025)
- Upper Limb
- Lower Limb
Global Prosthetics Market Regional Outlook (Revenue, USD Million, 2015-2025)
North America
- Canada
- United States
Europe
- Italy
- France
- United Kingdom
- Germany
Asia-Pacific
- South Korea
- India
- Japan
- China
Global Prosthetics Market Competitive Spectrum (Revenue, USD Million, 2015-2025)
- PROTEOR Group
- Streifeneder ortho.production GmbH
- Zimmer Biomet
- DAW Industries Inc.
- Ottobock SE & Co. KGaA
- Össur hf.
- Fillauer LLC
- WillowWood
- Freedom Innovations
- Blatchford
Table of Content:
1. Research Methodology and Executive Summary
1.1 Research Methodology
1.2 Executive Summary
2. Strategic Recommendations
3. Prosthetics Market: Product Outlook
3.1 Product Outlook
4. Global Prosthetics Market: Sizing and Forecast
4.1 Market Size Forecast, By Value, Year 2015-2025
5. Global Prosthetics Market Segmentation - By End User, By Value
5.1 Competitive Scenario of Global Prosthetics Market: By End User
5.2 Hospitals - Market Size and Forecast (2015-2025)
5.3 Prosthetics Clinic - Market Size and Forecast (2015-2025)
5.4 Other- Market Size and Forecast (2015-2025)
6. Global Prosthetics Market Segmentation - By Technology, By Value
6.1 Competitive Scenario of Global Prosthetics: By Technology
6.2 Mechanical Limb - Market Size and Forecast (2015-2025)
6.3 Bionic Limb - Market Size and Forecast (2015-2025)
7. Global Prosthetics Market Segmentation - By Application, By Value
7.1 Competitive Scenario of Global Face Mask: By Application
7.2 Lower Limb - Market Size and Forecast (2015-2025)
7.3 Upper Limb - Market Size and Forecast (2015-2025)
8. Global Prosthetics Market: Regional Analysis
9. North America Prosthetics Market: An Analysis (2015-2025)
9.1 North America Prosthetics Market: Size and Forecast (2015-2025)
9.2 North America Prosthetics Market - Prominent Players
9.3 Market Segmentation By End User (Hospitals, Prosthetics Clinic, and Other)
9.4 Market Segmentation By Technology (Bionic Limb and Mechanical Limb)
9.5 Market Segmentation By Application (Lower Limb and Upper Limb)
10. Europe Prosthetics Market: An Analysis (2015-2025)
10.1 Europe Prosthetics Market: Size and Forecast (2015-2025)
10.2 Europe Prosthetics Market - Prominent Players
10.3 Market Segmentation By End User (Hospitals, Prosthetics Clinic, Others)
10.4 Market Segmentation By Technology (Bionic Limb and Mechanical Limb)
10.5 Market Segmentation By Application (Lower Limb and Upper Limb)
11. Asia Pacific Prosthetics Market: An Analysis (2015-2025)
11.1 Asia Pacific Prosthetics Market: Size and Forecast (2015-2025)
11.2 Asia Pacific Prosthetics Market - Key Players and Key Distributors
11.3 Market Segmentation By End User (Hospitals, Prosthetics Clinic, Others)
11.4 Market Segmentation By Technology (Bionic Limb and Mechanical Limb)
11.5 Market Segmentation By Application (Lower Limb and Upper Limb)
12. Global Prosthetics Market Dynamics
12.1 Drivers
12.2 Restraints
12.3 Trends
13. Market Attractiveness
13.1 Market Attractiveness Chart of Global Prosthetics Market - By End User, 2025
13.2 Market Attractiveness Chart of Global Prosthetics Market - By Technology, 2025
13.3 Market Attractiveness Chart of Global Prosthetics Market - By Application, 2025
13.4 Market Attractiveness Chart of Global Prosthetics Market - By Region, 2025
14. Competitive Landscape
Related Report:
Upper Limb Prosthetics Market Size, Application Potential, Competitive Market Share & Forecast to 2025
Upper Limb Prosthetics Market will reach over USD 2.3 billion by 2025, as per a new research report. Increasing number of trauma cases coupled with rise in amputations will positively impact the growth of upper limb prosthetics market over the forthcoming years. Growing number of diabetic patients will also augment the upper limb prosthetics market over the foreseeable future. For instance, as per the International Diabetes Federation (IDF), by 2030 around 435 million people will suffer from diabetes. Such factors are expected to boost the growth of upper limb prosthetics market over the estimation period.
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