Rising Prevalence Of Arthritis To Boost Prosthetics Legs Market Growth

Prosthetics Legs Market
Prosthetics Legs Market 

Prosthetics Legs Market is Segmented by Product (Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, and Other Products), Technology (Conventional, Electric-powered, and Hybrid Orthopedic Prosthetics), End User (Hospitals, Prosthetic Centers, and Other End Users), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Prosthetic Legs Market is estimated to be valued at US$ 1.61 billion in 2022 and is expected to exhibit a CAGR of 5.4 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Prosthetic legs, or prostheses, can aid individuals with leg ejections get over very conveniently. They perform the working and, often, even the appearance of a real leg. Some people still require a cane, stroller or sticks to walk with a prosthetic leg, whereas others can walk easily.

Competitive Landscape:

Key Players involved in the growth of global Prosthetic Legs Market are Mobius Bionics, Fillauer LLC, Blatchford Ltd, Ossur, and Willow Wood Global LLC.

Market Key Drivers:

Rising prevalence of arthritis is expected to augment the growth of global Prosthetics Legs for Market. For instance, as per Arthritis Foundation, in 2021, above 350 million people had arthritis across the globe.

Technological developments in electric prostheses are projected to propel the growth of global Prosthetics Legs for Market. For instance, in August 2021, engineers at MIT and SJT University made a soft, frivolous, and strong low-cost neuroprosthetic hand.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Prosthetics Legs Market due to the rise in surge of pandemic. The rising cases have led to shift of provider’s focus to cure Covid-19 patients. The delay in the treatment for other diseases and the rise in shutdown policies have impeded the market growth.

Key Takeaways:

The global Prosthetics Legs for Market is anticipated to exhibit a CAGR of 5.4 % during the forecast period owing to the rising approvals and product launches. For instance, in November 2021, Össur, introduced three novel designs of its iconic Cheetah sports prosthesis, which have been made for amputee sportspersons taking part in particular athletic uses, such as sprinting.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global Prosthetic Legs Market due to rising prevalence of osteoarthritis, increasing healthcare infrastructure, increasing launches and approvals. For instance, in February 2020, In2Bones Global Inc. launched the Avenger Radial Head Prosthesis Method in the US market.

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