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Surging Prevalence of Road Accidents Driving the Global Prosthetics Market

Date: 17th Jun 2021 | Category: Pharma & Healthcare

The global prosthetics market is likely to grow at a CAGR of 5.92% during the period spanning from 2021 to 2025. The market in 2025 is expected to be US$2.58 billion. The growth in the global prosthetics market has been driven by factors such as increasing diabetic population, rising geriatric population and increasing number of road accidents. The market is likely to be supported by upsurge in global healthcare spending and challenged by factors like barriers to entry. 

The global prosthetics market by technology type can be segmented as follows: electric powered technology, hybrid prosthetics and conventional technology. The dominant share of market in 2020 was held by electric powered technology segment, followed by hybrid prosthetics and conventional technology segment. On the basis of user type, the global prosthetics market can be segmented into the following: prosthetic clinics, hospitals and rehabilitation centers. In 2020, the highest share of market was held by prosthetic clinics, which was followed by hospitals. 

The global prosthetics market on the basis of geography can be segmented as follows: North America, Europe and Asia Pacific. The dominant share of the market was procured by North America, followed by Europe and Asia Pacific. North America would continue to hold a dominant position in global market, supported by factors like improving healthcare infrastructure and higher product approvals. 

Scope of the report:

• The report provides a comprehensive analysis of the global prosthetics market with potential impact of COVID-19.

• The major regional markets (North America, Europe and Asia Pacific) have been analyzed. 

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (Ossur, Ottobock, Blatchford, WillowWood, Fillauer Companies, Inc. and Zimmer Biomet Holdings, Inc.) are also presented in detail.

Key Target Audience:

• Prosthesis Manufacturers

• Raw Material Providers

• End Users (Businesses/Consumers)

• Investment Banks

• Government Bodies & Regulating Authorities