Artificial Limbs Market: Report Analysis Global Outlook, Trend, Growth and Share Estimation Analysis
Artificial limbs are custom fabricated limbs that act as a substitute for amputees who have lost their limbs due to injury or disease. Type of limbs to be used is determined by the extent of amputation and location of missing extremity. Artificial limbs must possess certain qualities such as high strength and low weight, therefore artificial limbs are made up of specialized materials such as kevlar, carbon fiber and titanium. These materials allows restricted movement of the artificial limb along with control over it with reduced pain. Technological developments such as CAD/CAM technology that allows manufacturers to develop limbs as per the individual requirements has fuelled the market of artificial limbs. Mechanical devices have been used to provide assistance to persons with amputation in performing normal functions. Although these mechanical devices provide certain degree of improvement to amputees, however there are certain limitations of mechanical devices
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Global Artificial Limbs market Witness Most Promising Rise in Demand
Artificial limb prosthetics are devices used to replace the function of a missing limb. According to the National Limb Loss Information Center, there are approximately 1.7 million individuals living with limb loss in the U.S. It is estimated that one out of every 200 people in the U.S. has had an amputation. The most common reason for amputation are vascular complications (mainly diabetes), trauma and cancer. New technologies and new materials have resulted in improved products that are more adaptable. Materials like urethanes, silicone and mineral based liners are much more flexible, comfortable and lightweight compared to conventional materials like wood and hard plastics. These advanced materials have remarkable quality known as “memory,” that allows them to respond to varying degrees of pressure. The soft and pliant nature of advanced prosthetic materials allows the socket to expand and contract during the swing phase, holding it securely on residual limb. It also protects the underlying skin of the residual limb from surface damage. These technological advances drive the market growth as demand is created for more technically advanced and comfortable solutions.
Transparency Market Research estimates that the artificial limbs market will expand at a CAGR of 5.7% over the forecast period between 2017 and 2025. Escalating at this pace, the market, which had a valuation of US$ 1,750.0 Mn in 2016 in terms of revenue, is projected to rise to US$ 2,869.3 Mn by 2025.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
Key Players of Artificial Limbs Market Report:
This report profiles major players operating in the global Artificial Limbs market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global Artificial Limbs market is highly fragmented, with large number of players in the global market and small-scale players in regional markets. The top four to five players hold major share of the global Artificial Limbs market.
Key companies profiled in the report include Össur, Hanger, Inc., Ohio Willow Wood Company, Ottobock, RSL Steeper Group Ltd, PROTEOR, Blatchford Group, Liberating Technologies, Inc., Fillauer LLC, Spinal Technology, Inc. and Optimus Prosthetics among others.
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