Global Artificial Limbs and Joints Market
Artificial limbs, or prostheses, substitute a missing body part lost due to trauma or congenital deficiency. The type of prosthesis a person can use depends on the individual, including the reason for limb loss or amputation and the location of the missing extremity.
Market Size Growth Rate:
According to the DataM market research report, the global artificial limbs and joints market size was valued at USD YY billion in 2021, and it is projected to reach USD YY billion by 2029, with growth at a CAGR of 4.6% over the forecast period 2022-2029.
Due to technological advancements, owing to the increase in life expectancy and the growth in the number of people aged 65 years and above, rise in the incidence of injuries due to road accidents, falls, and sports activities, which is leading to surging demand for artificial limbs and joints globe, and growing awareness about advanced prosthetic technologies among amputees as well as healthcare professionals across the worldwide drive the artificial limbs and joints market.
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The artificial limbs and joints improve mobility (control of the prosthetic leg), improve proprioception, reduce nerve pain, and eliminate common problems associated with sockets. As per the Australian Academy of Science, the direct connection between the prosthesis and bone has several advantages: It provides greater stability and control and can reduce the amount of energy expended. It does not require suction for suspension, which makes it easier and more comfortable for the user. The weight‐bearing is brought back to the femur, hip joint, tibia or other bone, reducing the possibility of degeneration and atrophy that can accompany traditional prostheses. Advanced prostheses for the upper arm use motors activated by signals from the patient’s remnant biceps and triceps muscles. Patients must learn to contract these muscles to operate a prosthesis that terminates in a robotic hook, gripper, or hand. The devices provide no sensory feedback other than incidental and indirect visual and auditory cues that the patient notes in observing the movement of the prosthesis and listening to the activation of electric motors.
Side effects associated with surgery restrain the market growth. The risk factors include blood clots, infection, fracture, dislocation, change in leg length, loosening, and nerve damage.
The knee joint is a complicated network that plays an important role in the human lower limb for locomotion activities in daily living. The latest technological enhancements allow for deriving an ideal replacement for the human knee joint. However, it is essential to have a better perspective on the design characteristics and functionality of existing bio-inspired knee joints for creating an ideal knee joint. There is a chance for key players to develop technologically advanced bio-inspired knee joints in the market.
COVID-19 Impact Analysis:
As per the article published in the annals of vascular surgery in November 2020, owing to the increasing number of COVID-19 infections and hospital admissions, there was a shift from providing regular health care toward urgent services only. Most outpatient and primary care physician visits were minimized, and consults were mainly performed by phone. Physical examinations were reduced significantly, which may have led to delays in diagnosing and treating patients without COVID-19. Only urgent surgical care was delivered. The COVID-19 pandemic resulted in a massive increase in major amputations among patients with critical limb ischemia and diabetic foot ulcers. In 2022, the COVID-19 situation is recovering, and all patients can access the healthcare facilities which drive the market worldwide.
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Recent Developments in the Industry:
- In July 2022, Enovis launched the ARVIS (Augmented Reality Visualization and Information System) with over 200 cases successfully conducted in the U.S. This FDA-cleared system is the only proprietary, real-time, hands-free augmented reality (AR) technology specifically engineered for orthopedic surgeons, so they can imagine precision guidance when conducting hip and knee surgery with the support of AR.
- In February 2022, Össur, a global innovation leader in the orthotics and prosthetics industry with a rich history of pioneering breakthroughs, introduced its new POWER KNEETM, the world’s first actively powered microprocessor prosthetic knee for people with above-knee amputation or limb difference.
As per the research analysis, the global Artificial Limbs and Joints market is segmented by type into Artificial Joints, and Artificial Limbs, by technology into Cosmetic Prosthetics, Cable-operated/Battery-powered Prosthetics, and Electrically-powered/Myoelectric Prosthetics, by application into Artificial Knee, Artificial Hip, Artificial Elbow, Artificial Shoulder, Artificial Arm, and Artificial Leg, and by end-user into the Hospitals, ASCs, Rehabilitation Centers, and Others.
- On the basis of application, the artificial hip segment is estimated to grow at highest CAGR of YY% during the forecast period (2022-2029).
- As The use of artificial hip implants is extremely effective in improving hip joints that are impaired by injury or some form of arthritis. Artificial joints, including hip joints, do not last forever. The ordinary life of an artificial hip joint is 10-15 years, depending on the patient’s daily use of the joint. In addition, the key players are applying different market strategies, such as product launches and collaboration. For instance, in August 2022, Exactech, a developer and producer of innovative implants, instrumentation, and smart technologies for joint replacement surgery, declared the successful first surgeries of the Spartan Stem and Logical Cup System for total hip arthroplasty.
The global Artificial Limbs and Joints market is segmented into major countries including North America, Europe, South America, Asia Pacific, and Middle East and Africa.
North America Artificial Limbs and Joints Market:
This large revenue share is mainly due to the rising geriatric population, active regional key players and easy availability of products in the North American region. The market players are offering the products in the region. For instance, Stryker’s comprehensive portfolio will fit the need to treat fractures, small joint arthroplasty, fusions and soft tissue procedures. The VariAx 2 Wrist Fusion Plating System provides a broad range of anatomic plating choices that work with a standard instrument and screw platform. Plates use SmartLock technology, which allows polyaxial screw placement.
Europe Artificial Limbs and Joints Market:
The growing population, rising incidences of road accidents and injuries, and technological advances drive the European region’s market. Ortho Europe provides from modular components and conventional limb builds to high-definition silicone covers and CADCAM solutions. Ortho Europe provides high-quality prosthetic components for lower and upper-limb amputees.
Asia Pacific Artificial Limbs and Joints Market:
The increasing geriatric population with a high prevalence of chronic diseases, rising accidental incidences, and growing expenditure on research and development activities drive the artificial limbs and joint market in the Asia Pacific region.
However, it is expected to grow rapidly in the next couple of years with intense competition among the players and a rising number of cases. Few market players are already being observed applying strategies, such as collaboration for the development of new products, which may make the market crowded with new products in the next few years.
Major key companies which are contributing to the growth of the market include Arthrex Inc, Depuy Synthes, Djo Surgical, Integra Lifesciences, Smith & Nephew, Stryker Corporation, Wright Medical Group, Zimmer Holdings Inc., Johnson & Johnson, and Conmed Corporation.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the global Artificial Limbs and Joints market segmentation by product type, application, end user, and regions highlighting the key commercial assets and players.
- By Type: Artificial Joints, and Artificial Limbs.
- By Technology: Cosmetic Prosthetics, Cable-operated/Battery-powered Prosthetics, and Electrically-powered/Myoelectric Prosthetics.
- BY Application: Artificial Knee, Artificial Hip, Artificial Elbow, Artificial Shoulder, Artificial Arm, and Artificial Leg.
- By End User: Hospitals, ASCs, Rehabilitation Centers, and Others.
- By Region: North America, South America, Europe, Asia Pacific and Middle East and Africa
- Identify commercial opportunities in the global Artificial Limbs and Joints market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as, porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global Artificial Limbs and Joints market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures, and close to 180 pages.
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