Prosthetic Legs Market Outlook, Opportunity And Demand Analysis, Forecast 2016-2024
Artificial devices used to replace missing limbs lost due to birth defect or amputation are called prosthetics. Apart from birth defects, various medical conditions such as circulation problems, traumatic injuries, cancer, and diabetes can lead to amputation of limbs. The prosthetic leg helps carry out the basic functions of supporting the body and helps the person with body movement to perform daily activities.
Due to the technological advancements, more comfortable and functional prosthetic legs such as carbon fiber prosthetics are available in market. These help the wearer perform otherwise arduous task such as swimming, sky diving, complete triathlons, marathons, etc.
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However, sometimes prosthetic legs need to be replaced because of reasons such as increase/decrease in body weight, increase in height—in case of children—incorrect size of socket, material defects such as cracking, stretching or shrinking of material, and incompatibility with the body.
According to the Centers for Disease Control and Prevention (CDC), in 2012, there were around 1.9 million people in the U.S. without natural limbs. Also, according to the stats released by Advanced Amputee Solutions, LLC—a medical device company, specializing in the innovation, research and development of amputee specific devices—major cause of limb loss is vascular disease, which contributes around 54% in overall limb loss. Peripheral arterial disease and trauma is the second-leading cause of limb loss, contributing around 45%, while cancer is the minor cause of limb loss which contributes only around 1-2% of overall limb loss.
Advanced Amputee Solutions, LLC study suggests that below knee amputations are more common and accounted around 71% of dysvascular amputations in 2010 and is expected to increase in near future. Furthermore, globally there are more than 1 million annual limb amputations performed which is around one every 30 seconds.
Availability of Innovative, customizable, technologically advanced prosthetic legs and their increasing use will support the growth of prosthetic legs market in near future
In the global prosthetic legs market, North America holds the largest share followed by Europe as affordability is not a major issue in these regions. But now companies are focusing on emerging nations possessing high customer base, and increasing adaptation of prosthetic legs with growing income and awareness. Manufacturers are also trying to cut cost of prosthetic, legs which will result in growth of prosthetic legs market in the near future.
The growth of this market is supported by innovative devices and their improved material. Also many companies provide customized prosthetic legs or their components. For example, UNYQ provides personalized prosthetic covers, which offers advanced functionality such as IoT connectivity, wherein the prosthetic limb tracks the daily physical activities of the wearer, which is wirelessly transmitted to a smartphone via Bluetooth. Based on end user segment, the prosthetic clinics segment holds the largest market share, followed by hospitals and rehabilitation centers, respectively.
Some of the major players in the prosthetic legs market are Blatchford Ltd., Ossur, Touch Bionics Inc., Hanger Inc., Otto Bock HealthCare GmbH, and The Ohio Willow Wood Co.
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Prosthetic legs market taxonomy:
Global Market by Product Type : Below Knee Prosthetics, Above Knee Prosthetics, Liners, Sockets, Modular Components,.
Global Market by Technology: Conventional, Hybrid Orthopedic, Electric Powered,.
Global Market by End User: Hospitals, Prosthetics Clinics, Others,.
Global Market by Geography: North America, Europe, APAC, Latin America, Middle East, Africa,.
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