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Prosthetics market will grow exponentially with rise in acceptance of prosthetics procedures and decline in the prices

Publish Date: January 2021

The Global Prosthetic Market is projected to display significant growth represented by a CAGR of 4.7% during 2020 - 2025. The Global Prosthetic Market was valued at USD 1281.39 million in the year 2019 with North America leading the regional market share.

The Prosthetic market is expected to grow on the back of the increased incidence of diabetes among children and geriatric population. The Prosthetics market will grow exponentially with rise in acceptance of prosthetics procedures and decline in the prices of the procedures. A considerable increase of ergonomics in prosthetics product will leave a positive impact on their demand and the health of consumers.

Asia Pacific region holds great potential in the Prosthetics Devices market owing to the presence of vast consumer base, improvement in healthcare infrastructure and rapid economic development. The rapid economic growth in the Asia Pacific Region has led to change in the lifestyle and change in the dietary habit, which has led to the rise in prevalence of diabetic foot ulcer in the region. Thus. a rise in the amputation of limb has recorded in last few decades. Mechanical Limbs are expected to hold the largest market share with growing incidences of diabetes among older population and their ineligibility for bionic limb.  

The Azoth Analytics research report titled “Global Prosthetics Market – Analysis By Technology (Bionic Limb, Mechanical Limb), End-User, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)” has analysed and segmented the Prosthetics Market by Value (USD million). The report has also analysed the Prosthetics Market By Technology (Bionic Limb, Mechanical Limb), By End User (Hospital, Prosthetics Clinic, Others) and By Application (Lower Limb and Upper Limb). The Global Prosthetics Market has been analysed By Region (North America, Europe, Asia Pacific) and By Country (United States, Canada, Germany, France, Italy, United Kingdom, China, Japan, India, South Korea) for the historical period of 2015-2019 and the forecast period of 2020-2025.

 

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