Upper Limb Prosthetics Market 2030 | Expeditious Growth Expected in Coming Years

High cost of the devices and lack of reimbursement policies restrain the growth of the upper limb prosthetics market.

PORTLAND, OREGON, UNITED STATES, September 12, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled "Upper Limb Prosthetics Market by Product Type, Equipment, End User, and Region: Global Opportunity Analysis and Industry Forecast 2021-2030," The Global Upper Limb Prosthetics market size Limb Prosthetics Market. was valued at $687.73 million in 2020 and is expected to reach $1,044.18 million by 2030, registering a CAGR of 4.24% from 2021 to 2030.

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Upper prostheses and other prosthetic devices are designed for people with a variety of limb losses, from limb amputations to permanent or multiple losses. Amputations of one leg are called amputations of the right and left limbs. A transradial incision (an incision below the knee) occurs through the long bones of the radius and ulna, while a transhumeral incision (an incision above the knee) occurs through the humerus. Disarticulation is called disarticulation.

North America accounted for the largest share of the upper prosthetics market in 2020 and is expected to remain the same during the forecast period. This is attributed to the increase in the number of accidents and traumas, the increase in the knowledge of patients about prosthetic surgery, the proliferation of prosthetics, the availability of health care facilities and qualified medical professionals, the presence of leaders sports in the region and the increase in investment occurred. from the government and the health system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, mainly due to better healthcare infrastructure, increase in the number of hospitals and advances in prosthetics and technological advancements in healthcare.

The upper limb prosthetics market is expected to witness significant growth over the forecast period, fueled by technological advancements in prosthetics, increasing number of accidents and injuries, and increasing orthopedic conditions. such as osteosarcoma, osteoporosis and osteopenia. According to data from the American Cancer Society, about 1,000 new cases of osteosarcoma are diagnosed in the United States each year. In addition, increase in the target population, increase in patients for prostheses acceptance, and increase in diabetes are other factors contributing to the growth of the upper prosthetics market. However, high cost and high maintenance associated with these devices and lack of refund policies will hinder the market growth.

Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. The upper limb prosthetics manufacture was disturbed in the 2020 due to the slowdown of distribution chain of raw material.

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Q1. What is the market value of Upper Limb Prosthetics Market report in forecast period?
Q2. What would be forecast period in the market report?
Q3. What is the market value of Upper Limb Prosthetics Market in 2021?
Q4. Which is base year calculated in the Upper Limb Prosthetics Market report?
Q5. Does the Upper Limb Prosthetics Market company is profiled in the report?
Q6. Which are the top companies hold the market share in Upper Limb Prosthetics Market?
Q7. Does the Upper Limb Prosthetics Market report provides Value Chain Analysis?
Q8. What are the key trends in the Upper Limb Prosthetics Market report?

Key Findings Of The Study -

On the basis of product type, the passive prosthetic devices segment held more share in the global upper limb prosthetics market in 2020.

On the basis of component, the prosthetic arm segment held largest upper limb prosthetics market share in 2020 and is expected to remain dominant throughout the forecast period.

On the basis of end user, the prosthetic clinics segment exhibits fastest growth and is expected to grow at a CAGR of 5.00% from 2021 to 2030.

On the basis of region, North America is expected to experience growth at the highest rate, registering a CAGR of 5.10% during the forecast period.

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David Correa
Allied Analytics LLP
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