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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:
The Prosthetics Market is expected to expand rapidly during the projected period, owing to factors such as rising Prosthetics demand, expanding Prosthetics technology usage, and rising disposable incomes among consumers. However, the market confronts problems such as increased competition from replacement products and regulatory obstacles.
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
The market research examines the size, share, trends, total profits, gross revenue, and profit margin of the Prosthetics market. The study employs a SWOT analysis to determine the strengths and weaknesses of significant market competitors. The report’s expert views will keep investors up to date on the latest market trends. Furthermore, the research will present critical information on the leading industry players in the Prosthetics market, including company biographies, product images and specifications, production capacity, pricing, costs, revenue, and contact information. The study will look at regional as well as company-specific market trends, volume, and value.
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Prosthetics Market Drivers:
Several factors drive the Prosthetics market’s growth, including advancements in the Prosthetics industry and both organic and inorganic growth methods. Companies in the Prosthetics markets are projected to capitalise on favourable growth possibilities in the future as demand rises.
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:
The study will include a full market segmentation that will allow for a more in-depth understanding of customer preferences and wants. Market segmentation makes it easier to discover and cater to unique consumer needs, resulting in increased competition.
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 study will examine major trends in the Prosthetics market, with an emphasis on both organic and inorganic growth tactics used by individual companies. Product developments, approvals, patents, and events are examples of organic growth methods, whereas acquisitions, partnerships, and collaborations are examples of inorganic
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
Table of Content:
1. Prosthetics Market: Research Methodology
2. Prosthetics Market: Executive Summary
3. Prosthetics Market: Competitive Landscape
3.1. MMR Competition Matrix
3.2. Competitive Landscape
3.3. Key Players Benchmarking
3.4. Global Market Key Player Ranking Analysis
3.5. Market Structure
3.5.1. Market Leaders
3.5.2. Market Followers
3.5.3. Emerging Players
3.6. Consolidation of the Market
4. Prosthetics Market: Dynamics
4.1. Market Trends by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
4.2. Market Drivers by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Challenges
4.6. PORTER’s Five Forces Analysis
4.7. PESTLE Analysis
4.8. Regulatory Landscape by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
COVID-19 Impact Analysis on Prosthetics Market:
The research will also involve an in-depth examination of the influence of the COVID-19 epidemic on consumer behaviour as well as an examination of industry trends. It will investigate how industries must adapt their tactics in the post-pandemic age to satisfy shifting market needs.
Conclusion: The conclusive findings of the research will provide significant insights for Prosthetics market organisations, aiding them in adapting to the “new normal” and constructing a bright future. The paper will discuss the implications of the COVID-19 pandemic on the Prosthetics market, including increasing demand for Prosthetics items as a result of shifting consumer preferences.
Key Questions Answered in the Prosthetics Market Report are:
- Market potential: What is the total addressable market for Prosthetics ? What is the current market size? What is the expected growth rate for the market over the next few years?
- Regional market: Which regional market is expected to lead the Prosthetics market in the next few years? What are the factors driving growth in these regions?
- Application category: Which application category is expected to see the most rapid growth in the Prosthetics market? What are the factors driving growth in this category?
- Development opportunities: What are the key development opportunities for the Prosthetics sector in the next few years? What are the trends that are driving these opportunities?
- Future challenges: What are the most important future challenges that the Prosthetics market may face? How can businesses mitigate these challenges?
- Market leaders: Who are the leading companies in the Prosthetics segment? What are their strengths and weaknesses?
- Positive trends: What are the primary trends that are positively affecting market growth? How can businesses capitalize on these trends?
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