Artificial Limbs Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2025

Published on : Dec-2019 | List of Tables : 24 | List of Figures : 78 | No. of Pages : 170 | Report Code : FACT4359MR | Format : ppt pdf Excel Word

Artificial Limbs Market to Grow 1.4X by the End of 2025

The growth trajectory of the artificial limbs market has been forged with advancements in the field of new technologies and prosthetic materials that are more adaptable and have greater suitability. Materials such as urethanes and silicone are more flexible and lightweight, and have a remarkable quality known as 'memory', which allows them to respond to varying degrees of pressure.

As healthcare expenditures mount, key companies are aggressively deploying research & development tools in the field of Artificial Intelligence and bionics. Similarly, governments in developing regions are launching reimbursement schemes to cover a small portion of the cost of a prosthetic limb fitted onto an amputee. This creates a favourable environment for companies to venture into highly lucrative markets, which until recently, have been largely untapped. The aforementioned factors are expected to augment the growth of the artificial limbs market, which is set to witness a healthy growth of 6% over the forecast period (2020 - 2025).

artificial limbs market end user

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Prosthetic Clinics to Witness Leap in Growth, Hospitals Follow Suit

Prosthetic clinics are all set to witness a resurgence on the back of an extensive range of personalized and innovative solutions for amputees. These include state-of-the-art braces, shoes, supports, inserts, and other devices. Prosthetic clinics are estimated to account for the maximum market share during the forecast period, and will grow 1.3X during the forecast period. Hospitals are apace, and are projected to account for 30% of the market share by the end of 2025. Increasing number of trauma cases, and industrial and traffic accidents are inadvertently creating a conducive environment for the hospitals segment. As per forecasts, the hospitals segment will grow 1.2X and maintain a steady course through 2025.

Artificial Limbs Market a Consolidated Space, Innovations and Acquisitions Intensify Competition

The artificial limbs market is highly consolidated, with a handful of market players making major inroads through extensive R&D activities and a well-established supply chain. Exorbitant costs attributable to top-of-the-line products is attracting a small number of players and intensifying the competition. Ossur, Ottobock, Hanger, Proteor, and Spinal Technology Inc. are some of the leading players in the market. A vast clinical service network, an ever-expanding geographical presence, enhanced product portfolio, and strategically-timed acquisitions are some of the strategies of leading stakeholders in the artificial limbs market. For instance

  • In 2019, Ossur signed an agreement with College Park Industries, a global provider of upper and lower limb prosthesis. With this acquisition, Ossur hopes to strengthen its presence in the upper limb arena. Together, both companies will be well positioned to enhance their offerings.
  • Ottobock has added value for its users through innovative product launches, such as the microprocessor-controlled knee joint – 'C-Leg'. Ottobock is also investing in digital transformation using artificial intelligence for technical orthopaedics at all its locations.
artificial limbs market regional opportunity assessment

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North America Artificial Limbs Market Surging Ahead, Asia Pacific to Emerge as Lucrative Pocket

In terms of revenue, North America will outpace other regions, accounting for 34% of the market share by 2025. According to the Centre for Disease Control (CDC), as of 2016, over 8.5 Mn people in the U.S. were afflicted by peripheral vascular diseases, while 9.4% of the country’s population suffered from diabetes. This rise in disease prevalence is inadvertently leading to a large number of amputation cases, in turn, fuelling market growth.

Asia Pacific is also projected to benefit from the changing reimbursement scenario and a large pool of amputees, and would reach US$ 630 Mn by the end of 2025. Since MEA and Latin America are smaller markets, their growth will remain stable in the medium and long term.

Artificial Limbs Market - Scope of the Study

Fact.MR, in its exclusive research report on the artificial limbs market, highlights actionable insights and winning imperatives for stakeholders. This comprehensive study unfolds rare and distinguished intelligence regarding impactful dynamics, which directly or indirectly influence the growth of the artificial limbs during the forecast period (2020 - 2025). With the help of crucial insights discussed in this study, stakeholders will gain a thorough idea regarding the growth trajectory of the artificial limbs market.

This comprehensive study offers incisive data regarding the drivers, threats, restraints, and opportunities present in the artificial limbs market. The study also recalibrates the impact of each of these dynamics to estimate the size of the artificial limbs market for the given period. Authors of the report have taken ample care to measure and include the relevance and impact of microeconomic as well as macroeconomic factors that hold the potential to influence the growth of the artificial limbs market during the forecast period.

The global study on the artificial limbs market includes Porter’s Five Forces analysis, in order to present the buyer’s and supplier’s power in the landscape. In addition, the analysis also discusses the threat of substitutes and new entrants, which provides a brief idea regarding the future growth course of the artificial limbs market.

The global study offers crucial information about global, regional, and local players operating in the artificial limbs market, along with their estimated market share. Market share has been estimated in terms of value (US$ Mn). Besides providing key information regarding the concentration of leading, prominent, and local players in the artificial limbs market, the study also aims at equipping stakeholders with the best of information regarding their winning strategies, recent developments, and financials.

Artificial Limbs Market - Assessment of Key Segments

With an aim to offer granular level insights on the artificial limbs market, authors of the report have segmented the landscape on the basis of product, technology, end user, and region. This global research report also analysis the incremental opportunity available in the artificial limbs market during the forecast period. Key segments of the artificial limbs market include:

Product

Technology

End User

Region

Upper Extremity

Cosmetic Prosthetics

Hospitals

North America

Lower Extremity

Cable-operated/Battery-powered Prosthetics

Prosthetic Clinics

Europe

Sockets

Electrically-powered/Myoelectric Prosthetics

Rehabilitation Centres

Asia Pacific

Liners

   

Latin America

Others

   

Middle East and Africa

Key market players profiled in this comprehensive study on the artificial limbs market include Ossur, Hanger and Ottobock. Authors of the study have analysed the artificial limbs market in detail, and estimated market values based on the robust research methodology adopted by them.This detailed guide, based on latest market movements, ensures that only precise information reaches stakeholders, so as to help them gain an upper hand over their competitors in the artificial limbs market. This exclusive guide offers crucial information about the current trends, pipeline drugs, unmet drugs, future scope, and government regulations for the artificial limbs market.

Artificial Limbs Market - Research Methodology

Research undertaken by seasoned analysts at Fact.MR consists of a systematic approach, including both, primary and secondary research methodologies. For conducting primary research, interviews and discussions were carried out with industry experts, key opinion leaders, vendors, and distributors. Besides these, respondents also include CEOs, presidents, directors, chairmen, vice presidents, marketing managers, suppliers, distributors, and chief medical officers, among others. This helps in assessing the demand-supply gap prevailing in the artificial limbs market.

In order to conduct secondary research, marketing collaterals, company websites, industry associations, and government statistics were studied. In addition to this, reports as well as content pieces published by credible sources, such as the American Medical Association, Therapeutic Advances in Gastroenterology, The White Rose University Consortium, Centres for Disease Control and Prevention, the Infection Disease Clinics of North America, and others, were studied.

Insights obtained through primary and secondary research are then authenticated with the data triangulation method.

Request research methodology of this report.

Section 1 Preface

    1.1 Report Scope and Market Segmentation

    1.2 Research Highlights

Section 2 Assumptions and Research Methodology

    2.1 Assumptions

    2.2 Research Methodology

Section 3 Executive Summary

    3.1 Global Artificial Limbs: Market Snapshot

    3.2 Market Share Analysis by Region, 2016

    3.3 Global Artificial Limbs Market: Opportunity Map

Section 4 Market Overview

    4.1 Indication Overview

    4.2 Global Artificial Limbs Market: Key Industry Developments

Section 5 Market Dynamics

    5.1 Drivers and Restraints Snapshot Analysis

    5.2 Drivers

        5.2.1 Rising prevalence of diabetes and vascular diseases

        5.2.2 Increase in global geriatric population

        5.2.3 Technological Developments

        5.2.4 Extensive R&D activities in the field of artificial intelligence

        5.2.5 Increasing government reimbursements in developing countries

    5.3 Restraints

        5.3.1 High cost of treatment

        5.3.2 Uncertain reimbursement scenarios

    5.4 Opportunity Analysis

    5.5 Key Trends

    5.6 Porter’s Analysis

    5.7 Global Artificial Limbs Market Size (US$ Mn) Forecast, 2015–2025

    5.8 Treatment Circle for Fixation of Artificial Limbs

    5.9 Value Chain Analysis

    5.10 Five Major Advancements in Robotic Prosthetics 

    5.11 Artificial Limbs Market Outlook

Section 6 Artificial Limbs Market Analysis, by Product

    6.1 Key Findings

    6.2 Introduction

    6.3 Global Artificial Limbs Market Value Share Analysis, by Product

    6.4 Global Artificial Limbs Market Forecast, by Product

    6.5 Global Artificial Limbs Market Analysis, by Product (1/2)

        6.5.1 Upper Extremity Prosthetics

        6.5.2 Lower Extremity Prosthetics

        6.5.3 Sockets

        6.5.4 Liners

        6.5.5 Others

    6.6 Global Artificial Limbs Market Attractiveness Analysis, by Product

    6.7 Key Trends

Section 7 Artificial Limbs Market Analysis, by Technology

    7.1 Key Findings

    7.2 Introduction

    7.3 Global Artificial Limbs Market Value Share Analysis, by Technology

    7.4 Global Artificial Limbs Market Forecast, by Technology

    7.5 Global Artificial Limbs Market Analysis, by Technology (1/2)

        7.5.1 Cosmetic Prosthetics

        7.5.2 Cable operated/Body powered Prosthetics

        7.5.3 Electrically powered/myoelectric Prosthetics

        7.5.4 Others

    7.6 Global Artificial Limbs Market Attractiveness Analysis, by Technology

    7.7 Key Trends

Section 8 Artificial Limbs Market Analysis, by End User

    8.1 Key Findings

    8.2 Introduction

    8.3 Global Artificial Limbs Market Value Share Analysis, by End User

    8.4 Global Artificial Limbs Market Forecast, by End User

        8.4.1 Hospitals

        8.4.2 Prosthetic Clinics

        8.4.3 Rehabilitation Centers

    8.5 Market Attractiveness Analysis, by End User

    8.6 Key Trends

Section 9 Artificial Limbs Market Analysis, by Region

    9.1 Global Artificial Limbs Market Snapshot, by Country

    9.2 Global Artificial Limbs Market Value Share Analysis, by Region

    9.3 Artificial Limbs Market Forecast, by Region

    9.4 Market Attractiveness Analysis, by Region

Section 10 North America Artificial Limbs Market Analysis

    10.1 Key Findings

    10.2 Market Overview

    10.3 North America Artificial Limbs Market Value Share Analysis, by Product

    10.4 North America Artificial Limbs Market Forecast, by Product 

    10.5 North America Artificial Limbs Market Value Share Analysis, by End User

    10.6 North America Artificial Limbs Market Forecast, by End User

    10.7 North America Artificial Limbs Market Value Share Analysis, by Technology

    10.8 North America Artificial Limbs Market Forecast, by Technology

    10.9 North America Artificial Limbs Market Value Share Analysis, by Country

    10.10 North America Artificial Limbs Market Forecast, by Country

    10.11 North America Artificial Limbs Market Attractiveness Analysis 

Section 11 Europe Artificial Limbs Market Analysis

    11.1 Key Findings

    11.2 Market Overview

    11.3 Europe Artificial Limbs Market Value Share Analysis, by Product

    11.4 Europe Artificial Limbs Market Forecast, by Product 

    11.5 Europe Artificial Limbs Market Value Share Analysis, by End User

    11.6 Europe Artificial Limbs Market Forecast, by End User

    11.7 Europe Artificial Limbs Market Value Share Analysis, by Technology

    11.8 Europe Artificial Limbs Market Forecast, by Technology

    11.9 Europe Artificial Limbs Market Value Share Analysis, by Country

    11.10 Europe Artificial Limbs Market Forecast, by Country

    11.11 Europe Artificial Limbs Market Attractiveness Analysis

Section 12 Asia Pacific Artificial Limbs Market Analysis

    12.1 Key Findings

    12.2 Market Overview

    12.3 Asia Pacific Artificial Limbs Market Value Share Analysis, by Product

    12.4 Asia Pacific Artificial Limbs Market Forecast, by Product 

    12.5 Asia Pacific Artificial Limbs Market Value Share Analysis, by End User

    12.6 Asia Pacific Artificial Limbs Market Forecast, by End User

    12.7 Asia Pacific Artificial Limbs Market Value Share Analysis, by Technology

    12.8 Asia Pacific Artificial Limbs Market Forecast, by Technology

    12.9 Asia Pacific Artificial Limbs Market Value Share Analysis, by Country

    12.10 Asia Pacific Artificial Limbs Market Forecast, by Country

    12.11 12.11 Asia Pacific   Artificial Limbs Market Attractiveness Analysis 

Section 13 Latin America Artificial Limbs Market Analysis

    13.1 Key Findings

    13.2 Market Overview

    13.3 Latin America Artificial Limbs Market Value Share Analysis, by Product

    13.4 Latin America Artificial Limbs Market Forecast, by Product 

    13.5 Latin America Artificial Limbs Market Value Share Analysis, by End User

    13.6 Latin America Artificial Limbs Market Forecast, by End User

    13.7 Latin America Artificial Limbs Market Value Share Analysis, by Technology

    13.8 Latin America Artificial Limbs Market Forecast, by Technology

    13.9 Latin America Artificial Limbs Market Value Share Analysis, by Country

    13.10 Latin America Artificial Limbs Market Forecast, by Country

    13.11 Latin America Artificial Limbs Market Attractiveness Analysis 

Section 14 Middle East & Africa Artificial Limbs Market Analysis

    14.1 Key Findings

    14.2 Market Overview

    14.3 Middle East & Africa Artificial Limbs Market Value Share Analysis, by Product

    14.4 Middle East & Africa Artificial Limbs Market Forecast, by Product 

    14.5 Middle East & Africa Artificial Limbs Market Value Share Analysis, by End User

    14.6 Middle East & Africa Artificial Limbs Market Forecast, by End User

    14.7 Middle East & Africa Artificial Limbs Market Value Share Analysis, by Technology

    14.8 Middle East & Africa Artificial Limbs Market Forecast, by Technology

    14.9 Middle East & Africa Artificial Limbs Market Value Share Analysis, by Country

    14.10 Middle East & Africa Artificial Limbs Market Forecast, by Country

    14.11 Middle East & Africa Artificial Limbs Market Attractiveness Analysis 

Section 15 Competition Landscape

    15.1 Key success factors of top three companies

    15.2 Competition Landscape

        15.2.1 Össur

            15.2.1.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.1.2 Product Portfolio

            15.2.1.3 SWOT Analysis

            15.2.1.4 Financial Overview

            15.2.1.5 Strategic Overview

        15.2.2 Hanger, Inc.

            15.2.2.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.2.2 Product Portfolio

            15.2.2.3 SWOT Analysis

            15.2.2.4 Financial Overview

            15.2.2.5 Strategic Overview

        15.2.3 Ohio Willow Wood Company

            15.2.3.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.3.2 Product Portfolio

            15.2.3.3 SWOT Analysis

            15.2.3.4 Financial Overview

            15.2.3.5 Strategic Overview

        15.2.4 Ottobock

            15.2.4.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.4.2 Product Portfolio

            15.2.4.3 SWOT Analysis

            15.2.4.4 Financial Overview

            15.2.4.5 Strategic Overview

        15.2.5 RSL Steeper Group Ltd.

            15.2.5.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.5.2 Product Portfolio

            15.2.5.3 SWOT Analysis

            15.2.5.4 Financial Overview

            15.2.5.5 Strategic Overview

        15.2.6 PROTEOR

            15.2.6.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.6.2 Product Portfolio

            15.2.6.3 SWOT Analysis

            15.2.6.4 Financial Overview

            15.2.6.5 Strategic Overview

        15.2.7 Blatchford Group

            15.2.7.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.7.2 Product Portfolio

            15.2.7.3 SWOT Analysis

            15.2.7.4 Financial Overview

            15.2.7.5 Strategic Overview

        15.2.8 Liberating Technologies, Inc.

            15.2.8.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.8.2 Product Portfolio

            15.2.8.3 SWOT Analysis

            15.2.8.4 Financial Overview

            15.2.8.5 Strategic Overview

        15.2.9 Fillauer LLC

            15.2.9.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.9.2 Product Portfolio

            15.2.9.3 SWOT Analysis

            15.2.9.4 Financial Overview

            15.2.9.5 Strategic Overview

        15.2.10 Spinal Technology, Inc.

            15.2.10.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.10.2 Product Portfolio

            15.2.10.3 SWOT Analysis

            15.2.10.4 Financial Overview

            15.2.10.5 Strategic Overview

        15.2.11 Optimus Prosthetics

            15.2.11.1 Company Overview (HQ, Business Segments, Employee Strength)

            15.2.11.2 Product Portfolio

            15.2.11.3 SWOT Analysis

            15.2.11.4 Financial Overview

            15.2.11.5 Strategic Overview

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Artificial Limbs Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2025