Artificial Limbs Market Size is valued at USD 2.42 Bn in 2023 and is predicted to reach USD 3.69 Bn by the year 2031 at a 5.60% CAGR during the forecast period for 2024-2031.
Artificial limbs are a combination of art, science, and technology that seek to enhance the mobility, autonomy, and overall life contentment of those who have lost a limb. Prosthetics are designed to replicate the function and look of a missing limb, improving the overall quality of life for people who have lost a limb. Continuous research and technology advancements consistently expand the limits of prosthetic design and functionality.
The global market is further expected to expand due to the escalating number of amputations performed in various countries, particularly in patients grappling with both peripheral artery disease and diabetes mellitus. This scenario underscores the pivotal role of the lower extremity segment in augmenting market size. Additionally, there's a notable surge in demand anticipated for myoelectric prostheses catering to individuals with varying levels of upper limb loss, presenting promising prospects for market players. Furthermore, the continuous evolution of prosthetic technologies, including advancements in myoelectric sensors, osseointegration, augmented reality, and targeted muscle reinnervation, is poised to fuel market growth.
The Artificial Limbs market is bifurcated on the basis of product and application. Based on product, the Artificial Limbs market is segmented as Upper Extremity, Lower Extremity, Sockets, Liners, and Others. By technology, the market is segmented into Cosmetic Prosthetics, Cable-operated/Body-powered Prosthetics, Electrically Powered/Myoelectric Prosthetics, and Others. By end users, the Artificial Limbs market is divided into Hospitals, Rehabilitation Centers, and Prosthetic Clinics.
Within the product spectrum, the lower extremity segment is anticipated to dominate market share throughout the forecast period.
The foreseeable future is poised to witness a substantial increase in market value, primarily driven by the burgeoning demand for artificial limbs among individuals undergoing lower extremity amputations.
There is increasing awareness among amputees and healthcare professionals about the importance of artificial limbs. This awareness has propel the demand that provide optimal comfort and functionality.
The electrically powered/myoelectric prosthetics segment is projected to develop at a speedy rate in the global artificial limbs market. There is a growing emphasis on aesthetics, appearance as well as functionality in modern society. The rising demand for Electrically Powered/Myoelectric Prosthetics in the artificial limbs market reflects a growing recognition of the importance of aesthetics, psychological well-being, and social integration in the rehabilitation and quality of life of individuals with limb loss. As awareness and access to advanced solutions continue to expand, the demand for these products is expected to continue increasing.
The North America Artificial Limbs market is expected to register the highest market share. The upcoming years are expected to witness the region emerging as the forefront market. There is a significant anticipation of heightened demand for multifunctional prostheses with enhanced sensory and motor control capabilities, propelling market growth in the region. The increasing adoption of myoelectric prostheses within U.S. hospital environments is poised to stimulate market expansion further. Moreover, considerable research and development investments in implanted sensors and haptic devices, alongside advancements in adaptive technologies, are expected to drive market progression in the foreseeable future. In Asia Pacific, the market is forecasted to undergo rapid expansion in the coming years. This growth trajectory is attributed to a swift surge in demand for intuitive prosthetics, particularly among patients with conditions like diabetic foot ulcers and other vascular diseases, presenting lucrative opportunities for market players.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 2.42 Bn |
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Revenue Forecast In 2031 |
USD 3.69 Bn |
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Growth Rate CAGR |
CAGR of 5.60 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, Technology And End-Use |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Ossur, Ohio Willow Wood Company, Hanger, Inc. Spinal Technology, Inc., Liberating Technologies, Inc., Blatchford Group, Fillauer Group, Optimus Prosthetic, RSL Steeper Group Ltd., Uniprox (Bauerfeind), Ottobock, Mobius Bionics, Steeper Group (Eqwal Group), Ortho Europe, Open Bionics, COVVI Ltd, Unlimited Tomorrow, Aether Biomedical, Stryker Corporation and other market players |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Artificial Limbs Market Snapshot
Chapter 4. Global Artificial Limbs Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Product Estimates & Trend Analysis
5.1. by Product & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product:
5.2.1. Upper Extremity
5.2.2. Lower Extremity
5.2.3. Sockets
5.2.4. Liners
5.2.5. Others
Chapter 6. Market Segmentation 2: by Technology Estimates & Trend Analysis
6.1. by Technology & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Technology:
6.2.1. Cosmetic Prosthetics
6.2.2. Cable-operated / Body-powered Prosthetics
6.2.3. Electrically Powered / Myoelectric Prosthetics
6.2.4. Others
Chapter 7. Market Segmentation 3: by End-User Estimates & Trend Analysis
7.1. by End-User & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-User:
7.2.1. Hospitals
7.2.2. Prosthetic Clinics
7.2.3. Rehabilitation Centers
Chapter 8. Artificial Limbs Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Product, 2019-2031
8.1.2. North America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2019-2031
8.1.3. North America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2019-2031
8.1.4. North America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.2. Europe
8.2.1. Europe Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Product, 2019-2031
8.2.2. Europe Artificial Limb Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2019-2031
8.2.3. Europe Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2019-2031
8.2.4. Europe Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Product, 2019-2031
8.3.2. Asia Pacific Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2019-2031
8.3.3. Asia Pacific Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2019-2031
8.3.4. Asia Pacific Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.4. Latin America
8.4.1. Latin America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Product, 2019-2031
8.4.2. Latin America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2019-2031
8.4.3. Latin America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2019-2031
8.4.4. Latin America Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Product, 2019-2031
8.5.2. Middle East & Africa Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2019-2031
8.5.3. Middle East & Africa Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2019-2031
8.5.4. Middle East & Africa Artificial Limbs Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Ossur
9.2.2. Ohio Willow Wood Company
9.2.3. Hanger, Inc.
9.2.4. Spinal Technology, Inc. (Eqwal Group)
9.2.5. Liberating Technologies, Inc.
9.2.6. Blatchford Group
9.2.7. Fillauer Group
9.2.8. Optimus Prosthetic
9.2.9. RSL Steeper Group Ltd
9.2.10. Uniprox (Bauerfeind)
9.2.11. Ottobock
9.2.12. Mobius Bionics
9.2.13. Steeper Group (Eqwal Group)
9.2.14. Ortho Europe
9.2.15. Open Bionics
9.2.16. COVVI Ltd
9.2.17. Unlimited Tomorrow
9.2.18. Aether Biomedical
9.2.19. Stryker Corporation
9.2.20. Other Prominent Players
Artificial Limbs Market By Product
Artificial Limbs Market By Technology
Artificial Limbs Market By End-use
Artificial Limbs Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
