A medical device known as an upper limb prosthetic is used to replace an arm that has been completely or partially amputated due to disease, trauma, illness, or congenital abnormality. A prosthesis is a synthetic device that replaces a lost body part. The components of upper limb prosthetics include, among others, a socket, suspension, terminal device, interposing joints, and control system. Upper limb prosthetics come in three main categories: myoeletric, body-powered, and aesthetic. Prostheses of the hybrid variety are also available. Compared to most bionic alternatives, these prosthetics are more lightweight, inexpensive, therapeutic, functional, and trustworthy.
The global Upper Limb Prosthetics market size was valued at $864.5 million in 2021, and is projected to reach $1,219.7 million by 2030, registering a CAGR of 5.0% from 2022 to 2028.
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Drivers
The worldwide upper limb prosthetics market is anticipated to have slow growth during the projected period due to factors such as rising demand for upper limb prosthetics and an increase in limb amputation surgeries globally. For example, the demand for upper limb prosthesis and the number of limb amputation procedures are both rising quickly along with the number of amputations and the number of road accidents or injuries. The Perform Humeral Stem, a Tornier product that is designed with four collar diameters and is offered in multiple lengths to optimise humeral fit and give surgeons the power to perform and the options to choose, was introduced by Stryker in July 2021 along with the launch of the Tornier shoulder arthroplasty portfolio.
Opportunities
Players in the upper limb prosthetics market can expect lucrative growth possibilities as research and development activities increase globally. For instance, to address the increase in demand, industry participants and researchers throughout the world are concentrating on creating and releasing revolutionary limb prosthetics. For patients with upper limb amputations, Cleveland Clinic researchers created a first-of-its-kind bionic arm in September 2021 that enables users to think, act, and function like a person without an amputation. The bionic system integrates three crucial abilities, including instinctive hand opening and closing sensations, touch and grip kinesthesia, and intuitive motor control.
Restraints
The upper limb prosthetics market is likely to experience growth challenges due to factors such as high prosthetic costs, little consumer awareness, and strict regulatory environments. For instance, one of the major obstacles to the acceptance of upper limb prosthetics among amputees is their high cost. Additionally, the U.S. Food and Drug Administration (FDA) classifies these prosthetics as class II medical devices, necessitating 510(k) approval in order to obtain authorization for the product’s commercial use. The lengthy 510(k) approval procedure confirms the device’s effectiveness and safety.
Impact
The COVID-19 outbreak has had a detrimental effect on the development of the upper limb prosthesis market. Worldwide security measures like travel bans and lockdowns (to stop the spread of the virus) reduced public mobility and had a big impact on joint replacement and limb amputation surgeries (since these procedures weren’t covered under emergency surgeries), as these procedures were delayed to lessen the strain on the healthcare system. However, when elective procedures progressively restarted due to the ease of lockdown in many nations throughout the world.
Key Takeaways
The market for upper limb prosthetics was valued at US$ 864.5 Mn in 2021 and is anticipated to grow at a CAGR of 5.0% between 2022 and 2028 to reach US$ 1,219.7 Mn.
Body powered prosthetics had a prominent position in the worldwide upper limb prosthetics market in 2021, accounting for 49.2% of the market’s value share. Increasing product approval and launches are anticipated to fuel segment expansion over the course of the forecast period.
Market Trends
The demand for upper limb prostheses has increased due to an increase in traffic accident cases and a rise in sports injuries worldwide. Road accidents are a significant public health issue, according to the World Health Organization (WHO), since they result in more than 1.25 million fatalities and 50 million injuries annually, 90% of which happen in poor nations. Similar trends are anticipated to continue throughout the forecast period, which is anticipated to help the market develop.
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Competitive Landscape
Blatchford Limited, Open Bionics, Protunix, Coapt LLC, Fillauer LLC, WillowWood Global LLC, Ortho Europe, Steeper Inc., Ossur, and Ottobock SE & Co. KgaA are significant companies in the global upper limb prosthetics industry among others.
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Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Device Type
- Market Snippet, By Component
- Market Snippet, By End User
- Market Snippet, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increase in number of road accidents/injuries and rise in number of amputations
- High cost of upper limb prosthetics
- Increase in the number of limb amputation procedures
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global Upper Limb Prosthetics Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Upper Limb Prosthetics Market, By Device Type, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Body Powered
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Passive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Hybrid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Myoelectric
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Upper Limb Prosthetics Market, By Component, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Prosthetic Elbow
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Prosthetic Wrist
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Prosthetic Arm
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Prosthetic Shoulder
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Upper Limb Prosthetics Market, By End User, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Prosthetic Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Upper Limb Prosthetics Market, By Geography, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Middle East and Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Rest of World
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Introduction
- Competitive Landscape
- Open Bionics
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Coapt LLC
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- WillowWood Global LLC
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Steeper Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Ottobock SE & Co. KgaA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Ossur
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Ortho Europe
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Fillauer LLC
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Protunix
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Blatchford Limited (Endolite India Ltd.)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Analyst Views
- Open Bionics
- Section
- Research Methodology
- About us
About Us
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