A new market study, titled “Prosthetic Arm Market – Forecasts from 2018 to 2023” has been featured on WiseGuyReports.
The prosthetic arm market is projected to grow at a CAGR of 12.43% to reach US$1,408.221 million in 2023 from US$697.232 million in 2017. The market for the prosthetic arm has seen high growth in recent years, driven by increased healthcare spending in emerging economies, growing relevance of the public-private partnership (PPP) model across different regions, a rise in the prevalence of joint-related diseases, an increase in aging population. Innovations in smartphone technology like cybernetic arm powered and controlled by a smartphone and the use of accelerometer technology provide significant market opportunities, while Bluetooth communication continues to strengthen growth. Geographically, the market has been prominent in developed countries with advanced healthcare systems, with the United States and Europe taking the lead, however growing awareness and information and technology spill resulting from increased global integration has significantly bolstered demand for prosthetic arms in the developing world.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the prosthetic arm value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the prosthetic arm market.
Major industry players profiled as part of the report are Touch Bionics Inc., Mobius Bionics, and Össur among others.
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The prosthetic arm market has been analyzed through the following segments:
- By Type
o Passive Prosthesis
o Body-Powered Prosthesis
o Electrically-Powered Prosthesis
o Hybrid Prosthesis
o Activity-Specific Prosthesis
- By Product
o Transradial Prosthetic
o Transhumeral Prosthetic
- By Geography
o North America
o South America
o Middle East and Africa
o Asia Pacific
Table of Content
- RESEARCH METHODOLOGY
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- PROSTHETIC ARM MARKET BY TYPE
- PROSTHETIC ARM MARKET BY PRODUCT
- PROSTHETIC ARM MARKET BY GEOGRAPHY
- COMPETITIVE INTELLIGENCE
- COMPANY PROFILES
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