Global Upper Limb Prosthetics Market is valued approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Upper limb prosthetics are artificial implants that replace a hand or arm that has been lost entirely or partially as a consequence of an accident, injury, trauma, or congenital defect. Interposing joints, Terminal device (TD), suspension, socket, and control system are all components of upper limb prosthetics. There are typically four general classes of upper limbs prosthetics. These include myoelectric, body-powered, and hybrid types of prostheses, as well as cosmetic or passive prosthetic devices. The key factor driving the market growth is rising in number road accidents and sports injuries, technological advancements in prosthetic, and increasing prevalence of bone conditions such as osteoporosis, osteosarcoma, and osteopenia.

The demand for surgeries to treat these conditions will rise as the incidence of sports injuries like tennis elbow and other conditions rises, which is expected to boost the market for upper limb prosthetics. According to the United Kingdom National Health Service's 2020 data, tennis elbow is a frequent condition that affects 3% to 4% of the population, or 4 to 7 instances per 1000 people per year. The high frequency of tennis elbows in the country would also boost demand for prosthetic elbows, boosting market expansion. Also, rising advancement in Upper Limb Prosthetics is anticipated to boost the market growth. For instance, in 2019, Ottobock Se & Co announced the Myo Plus pattern recognition system, an advancement in upper-limb prosthetics, and the fit the first patient in North America with Ottobock's Myo Plus pattern recognition system. Additionally, rising research and development in the field of upper-limb prosthetics will anticipated to create the lucrative opportunity. However, the high cost of Upper Limb Prosthetics stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Upper Limb Prosthetics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the increasing number of accidents and injuries, technological advancement, and presence of key market players. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rising number of accident & sport injuries and rising awareness would create lucrative growth prospects for the Upper Limb Prosthetics market across Asia Pacific region.

Major market players included in this report are:

CBPE Capital LLP (Blatchford Limited)

Coapt LLC

Colfax Corporation (DJO, LLC)

Ossur (college park industries)

Mobius Bionics LLC

Motorica LLC

Naked Prosthetics

Ottobock SE & Co. KGaA

Protunix

Steeper Group

Recent Developments in the Market:

In 2021, Stryker launched the Tornier shoulder arthroplasty portfolio and launched its Tornier product, the Perform Humeral Stem, which is designed with four collar diameters and is available in multiple lengths to optimize humeral fit and give surgeons the power to perform and the options to choose.
In 2019, Ossur announced the acquisition of College Park Industries, a global supplier of upper and lower limb prostheses and supporting services.
Global Upper Limb Prosthetics Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Product Type, Component, End User, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:

Passive Prosthetic Devices

Myoelectric Prosthetic Devices

Body Powered Prosthetic Devices

Hybrid Prosthetic Devices

By Component:

Prosthetic Wrist

Prosthetic Arm

Prosthetic Elbow

Prosthetic Shoulder

Others

By End User:

Hospitals

Prosthetic Clinics

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World