Upper Limb Prosthetics Market Size & Share, by Component (Prosthetic Wrist, Prosthetic Elbow, Prosthetic Arm, Prosthetic Shoulder, Terminal Device, Prosthetic Socket); Product (Passive Prosthetic Devices, Hybrid Prosthetic Devices, Body Powered Prosthetic Devices, Myoelectric Prosthetic Devices); Indication; End-user (Prosthetic Clinics, Hospitals) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5241
  • Published Date: Sep 18, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Upper Limb Prosthetics Market size is poised to reach USD 929 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of upper limb prosthetics was USD 398 Million. The reason behind the growth is due to the rising number of road accidents which are by far the most frequent reason for traumatic amputations and loss of limbs. Moreover, careless or reckless behavior frequently leads to incidents that can result in trauma which can cause loss of limb, and body parts including arms, fingers, and hands can be amputated. According to the World Health Organization (WHO), the lives of almost 1.3 million people across the globe are cut short annually as a result of traffic accidents.

The growing advancements in upper limb prosthetics are believed to fuel the market growth. For instance, the development of new hybrid nanomaterials has increased the performance of prosthetic devices has made artificial limbs significantly more efficient, and effective, and has considerably raised the standard of living for people with disabilities.


Upper Limb Prosthetics Market
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Upper Limb Prosthetics Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Geriatric Population – The elderly population is more prone to risk of falls and accidents owing to age-related weakness and the rising value of independence among elderly people across the globe is estimated to drive market growth.According to estimates, the number of people over 65 in the world is increasing quickly, and lately, more than 610 million individuals, or roughly 8% of the world's population, are over 65 or older.
  • Growing Prevalence of Bone Cancer- The most frequent procedure for an arm bone tumour is limb-sparing or limb-salvage surgery which can lead to upper limb amputations. This may necessitate the use of prosthesis equipment such as upper limb prosthetics as it can aid function after amputation.More than 3% of cancers in children are bone tumors, amongst these Osteosarcoma is the most frequently identified primary malignant bone tumor.

Challenges

  • Exorbitant Cost of Upper Limb Prosthetics - Implications for rehabilitation after upper limb amputation, abandonment rates in prosthetic rehabilitation have been demonstrated to reach higher than 40%, owing to which patients prefer other surgical methods for the treatment. As a result, the adoption rate of upper limb prosthetics is impacted.
  • Lack of Access to Prosthetic Care in Several Developing Regions
  • Lack of Skilled Professionals and Rehabilitation Services

Upper Limb Prosthetics Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~5%

Base Year Market Size (2023)

~ USD 0.398 Billion

Forecast Year Market Size (2036)

~ USD 0.929 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Upper Limb Prosthetics Segmentation

Product (Passive Prosthetic Devices, Hybrid Prosthetic Devices, Body Powered Prosthetic Devices, Myoelectric Prosthetic Devices)

The body powered prosthetic devices segment in the upper limb prosthetics market is estimated to gain a robust revenue share of 31% in the coming years. In upper-limb prostheses, body-powered components have been utilized for centuries and are still frequently prescribed today since they are indispensable for challenging tasks, are adaptable, durable, and simple to use, often require less training time, and can be utilized in muddy or wet conditions.

Component (Prosthetic Wrist, Prosthetic Elbow, Prosthetic Arm, Prosthetic Shoulder, Terminal Device, Prosthetic Socket)

The prosthetic wrist segment is set to garner a notable share shortly owing to the benefits provides by this component type. A prosthetic wrist joint that can flex and extend enables various item manipulation techniques facilitates task completion, lessens improper body mechanics, provides more natural appearance to the limb and customizable designs.

Our in-depth analysis of the global market includes the following segments:

          Component

  • Prosthetic Wrist
  •  Prosthetic Elbow
  • Prosthetic Arm
  • Prosthetic Shoulder
  • Terminal Device
  •  Prosthetic Socket

          Product

  • Passive Prosthetic Devices
  •  Hybrid Prosthetic Devices
  • Body Powered Prosthetic Devices
  • Myoelectric Prosthetic Devices

          End-User

  • Prosthetic Clinics
  •  Hospitals

          Indication

  • Forequarter Amputations
  • Shoulder Disarticulations
  • Transhumeral Disarticulations
  • Elbow Disarticulations
  • Transradial Disarticulations
  • Wrist Disarticulations
  • Partial Hand Amputations
  • Fingers Amputations

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Upper Limb Prosthetics Industry- Regional Synopsis

North American Market Forecast

Upper Limb Prosthetics market in North America is predicted to account for the largest share of 39% by 2036 impelled by the increasing spending in healthcare. This has led to the development of more sophisticated upper limb prosthetics in the region, resulting in enhanced functionality which would encourage more individuals to use prosthetic limbs. According to estimates, In the United States, health spending climbed by over 2% in 2021 to roughly USD 4 trillion, or around USD 12,910 per person.

European Market Statistics

The Europe upper limb prosthetics market is estimated to be the second largest, during the forecast timeframe led by presence of conflicts and wars. For instance, more than 48 armed conflicts were going on in Europe in 2022, one of which was a major war. In addition, an international armed conflict (IAC) between Russia and Ukraine is taking place in Europe and has sparked solidarity across the region. As a result, military personnel and other civilians who are entangled in conflict and a combat zone sustain severe physical wounds, including limb loss. This may drive the demand for upper limb prosthetics in the region.

Research Nester
Upper Limb Prosthetics Market Size
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Companies Dominating the Upper Limb Prosthetics Landscape

top-features-companies
    • Coapt LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Stryker Corporation
    • Össur hf
    • Mobius Bionics LLC
    • Protunix
    • Ortho Europe
    • Motorica LLC
    • Steeper, Inc.
    • Fillauer LLC
    • Naked Prosthetics
    • Endolite India Ltd.
    • Instalimb
    • BionicM

In-the-news

In The News

  • Stryker Corporation launched Tornier shoulder arthroplasty portfolio and its first new Tornier product, the Perform Humeral Stem to deal with little patient anatomy that poses special difficulties and provide doctors the ability to plan their perform cases and offer precise, real-time virtual surgery.
     
  • Össur hf introduced the new Rebound Post-Op Elbow Brace to enhance the clinical fitting experience and ease-of-use for patients who are healing from serious elbow injuries such as stable fractures of the elbow, distal humerus, proximal radius, or ulna bones; tendon and ligament injuries and repair, and provide them both elbow immobilization and range-of-motion restriction.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5241
  • Published Date: Sep 18, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing number of road accidents and the growing advancements in upper limb prosthetics are the major factors driving the growth of the market.

The market size of Upper Limb Prosthetics is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024 – 2036.

The major players in the market are Stryker Corporation, Össur hf, Mobius Bionics LLC, Protunix, Ortho Europe, Motorica LLC, Steeper, Inc., Fillauer LLC, Naked Prosthetics, and Endolite India Ltd.

The body powered prosthetic devices segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Upper Limb Prosthetics Market Report Scope
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