According to FutureWise analysis the market for upper limb prosthetics in 2023 is US$ 0.77 billion, and is expected to reach US$ 1.09 billion by 2031 at a CAGR of 4.40%.
An artificial device that replaces a partially or completely missing hand or arm due to an accident, disease, illness, trauma, or congenital deformity is known as upper limb prosthetics. The terminal device (TD), interposing joints, socket, suspension, and control system are all part of upper limb prostheses. Upper extremity prosthesis are classified into four categories. Prosthetics for the upper limb can be used everywhere from the shoulder joint to the fingertips, including the fingers, hand, wrist, forearm, elbow, upper arm, and shoulder. Cosmetic or passive prosthetic devices, as well as body-powered, myoelectric, and hybrid prostheses, fall into this category. The expansion of the global upper limb prosthetics market is fueled by technological advancements in prostheses, an increase in the number of accidents and trauma, and an increase in the prevalence of bone disorders such as osteosarcoma, osteoporosis, and osteopenia. Furthermore, the market's growth is hampered by the high cost and higher maintenance associated with these devices, as well as the lack of reimbursement policies. However, increased government initiatives to support amputee initiatives to support amputee initiatives to support amputee initiatives to support amputee initiatives to support amputee initiatives to support amputee initiatives to support amputee initiatives to support amputee initiatives provides lucrative
FutureWise Market Research has instantiated a report that provides an intricate analysis of Upper 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 Upper 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.