According to FutureWise analysis the market for limb prosthetics in 2023 is US$ 1.68 billion, and is expected to reach US$ 2.62 billion by 2031 at a CAGR of 5.72%.
Limb prosthesis cover both the upper and lower extremities. At various levels of amputation, upper-extremity prostheses are used: forequarter, shoulder disarticulation, transhumeral prosthesis, elbow disarticulation, transradial prosthesis, wrist disarticulation, complete hand, partial hand, finger, partial finger, and wrist disarticulation. A transradial prosthesis is a man-made limb that replaces an arm below the elbow that has been amputated. Lower-extremity prostheses are used to replace limbs that have been amputated at various levels. Hip disarticulation, transfemoral prosthesis, transtibial prosthesis, Syme's amputation, foot, partial foot, and toe are among them. Trans-tibial (any amputation transecting the tibia bone or a birth defect leading to a tibial deficit) and trans-femoral (any amputation transecting the femur bone) are the two primary subcategories of lower extremity prosthetic devices (any amputation transecting the femur bone or a birth defect leading to a femoral deficiency).
Artificial Leg, Powering the Limb is an artificial substitute for a missing component, such as an eye, limb, or teeth, that is utilised for functional or cosmetic purposes, or both. Most artificial limbs are propelled by muscles, either those that remain in the residual limb or additional muscles that are available. Prosthetic rehabilitation is possible for people of all ages. The majority of prostheses are used to replace lost limbs, however some people with joint and muscle problems may be able to put a brace prosthesis over their limb to gain some mobility and usage back in that area. Even animals require prosthesis on occasion. Replacement prosthetic legs might cost anything between $5,000 and $50,000. However, even the most expensive prosthetic limbs are only designed to withstand three to five years of wear and tear, implying that they will need to be changed over the course of a lifetime and are not a one-time expense.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Limb Prosthetics Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Limb Prosthetics Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.