Upper limb prosthetics are medical devices which are used to replace an arm that is injured or missing and have been lost partially or entirely due to an accident, illness, trauma, or congenital condition. Upper limb prostheses include interposing joints, terminal devices (TD), sockets, suspension, and control systems.
The market worth of upper limb prosthetics in 2021 was USD 720.86 million, and it will be worth USD 1131.36 million by 2030, growing at a 4.97% CAGR during the forecast period.
Primary drivers of the growth of the upper limb prosthetics market are technological advancements in prostheses, an increase in accidents and trauma, and a rise in the prevalence of bone disorders such as osteosarcoma, osteoporosis, and osteopenia.
Market Dynamics
Drivers
The increase in osteosarcoma (a form of bone cancer) cases around the globe drives up demand for these devices and propels the market growth. The National Organization for Rare Disorders predicts that nearly 750–1,000 new cases of osteosarcoma are detected each year in the US.
The demand for upper-limb prosthetics is rising due to the rising incidence of sports injuries among the population worldwide, promoting a positive change in market trends for these devices. Around 775,000 kids under the age of 14 receive annual treatment for sports-related injuries in hospital emergency rooms, according to Johns Hopkins Medical Center.
Trends
Due to an increase in cases involving traffic accidents and a rise in sports injuries globally, there is a greater demand for upper limb prosthesis. According to the World Health Organization (WHO), road accidents cause more than 1.25 million fatalities and 50 million injuries yearly, 90% of which occur in developing countries.
Restraints
Patients are driven to choose other surgical procedures due to the high cost of upper limb prosthetics, which reduces demand for these devices and hinders the growth of the upper limb prosthetics market.
Opportunities
The market for upper-limb prostheses has recently discovered fresh uses, which might accelerate market growth. Trauma, vascular issues, and bone cancer can now be treated at the interscapulothoracic, transhumeral, transradial, wrist, transcarpal, transmetacarpal, and transphalangeal levels with upper-limb prosthetics. About 3910 new cases of primary cancer of the bones and joints are expected in 2022, according to the American Cancer Society. According to figures provided by Canadian Cancer, in 2021, malignant bone tumors affected roughly 4% of Canadians between the ages of 0 and 14.
Market Segmentation
By device type, In 2020, passive prosthetic devices led the market with the largest revenue share. The demand for passive prosthetics increased due to important factors, including an increase in amputees, increased demand for upper limb prosthetic surgeries, increased patient awareness of prosthetic devices, and advancements in prosthetic devices. This accelerated the growth of the segment.
By component, in 2020, the prosthetic arm had the largest worldwide upper limb prosthetic market share because joint issues (such as osteoarthritis) are becoming more prevalent in developed and developing economies. The CDC estimates that more than 32.5 million US individuals will have osteoarthritis by 2020. According to the Osteoarthritis Action Alliance, 62% of these adults are female. Furthermore, factors driving market expansion include an increase in demand for prosthetic arm devices, the incidence of accidents, and the senior population.
By end-user, the prosthetic clinic’s segment led the market with the largest share of 55% due to the growth in prosthetists and government funding. As of May 2021, the US BLS (Bureau of Labor Statistics) estimates that there were about 10,000 prostitutes in the country.
Regional Insights
North America was the biggest regional market in 2020, with a revenue share of nearly 38%. This significant market share is due to a rise in accidents and traumas, a rise in prosthetic procedures, a rise in demand for prosthetic devices, the availability of cutting-edge healthcare facilities operated by skilled medical personnel, and the presence of major players in the area. According to a study, nearly 10,000 upper limb amputations occurred in the United States. Around 5.2% of these amputations occurred at the wrist disarticulation and transradial level, 6.1% were at the transhumeral or elbow disarticulation level, and around 2.3% were at the shoulder or above level.
Key Players
- Mobius Bionics LLC
- Coapt LLC
- Össur hf
- Protunix
- Motorica LLC
- Steeper, Inc.
- Ortho Europe
- Naked Prosthetics
- Endolite India Ltd.
- Ottobock SE and Co. KGaA
- Fillauer LLC
- Stryker Corporation
The market worth of upper limb prosthetics in 2021 was USD 720.86 million, and it will be worth USD 1131.36 million by 2030, growing at a 4.97% CAGR during the forecast period. Due to a rise in limb amputation surgeries and increased research & development, the global market for upper limb prostheses is expanding rapidly. Additionally, a rise in the incidence of amputations and road accidents and an increasing senior population worldwide are boosting market expansion.
