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LI23028620 |
Pages: 220 |
Feb 2023 |
The surge in demand for motorized prostheses is majorly attributed to the increased rate of amputation on account of injuries, chronic diseases, and genetic diseases. In addition, an upsurge in healthcare spending across the world, the rise in prevalence of joint-related illnesses, and surge in geriatric population worldwide are anticipated to supplement the motorized prosthesis market growth during the forecast period. In the U.S. alone, around 1,50,000 patients every year go through lower extremity amputation. The most common reasons for amputation are peripheral vascular disease, neuropathy, diabetes mellitus, and trauma.
The high cost, however, may hinder the overall motorized prosthesis market growth during the forecast period. In addition, less awareness about motorized prosthesis in developing nations is likely to limit the motorized prosthesis market expansion.
The rise in demand for motorized prostheses for the Paralympic Games is expected to offer ample growth opportunities during the forecast period. For instance, in the Tokyo 2020 Paralympic Games, around 4,400 athletes with disabilities contested using prostheses. The surge in R&D activities has helped athletes get the most out of their athletic ability. Motorized prostheses offer numerous benefits such as durability, training time, frequency of adjustment, and maintenance.
By region, the North America motorized prosthesis market accounted for the highest market share in 2021. The significant demand for motorized prosthesis in this region can be attributed to the factors such as presence of major players, increased spending on advanced technologies, and rise in prevalence of amputations.
Motorized prostheses offer external power through motors to the amputee. They provide greater performance as well as functionality. In the last several years, numerous active ankle joints, knee joints, and systems combining ankle & knee have been developed by companies. Motorized prostheses are important tools that can restore the ability to pick up & grab objects and help the user’s active hand. Motorized prostheses device offers the physical, societal, and personal betterment of amputees.
The coronavirus pandemic harmed the motorized prosthesis market growth. Strict lockdowns, quarantine, and social distancing restrained manufacturing operations and logistics activities, which disrupted the supply chains. As per the World Health Organization (WHO), the organizations operating in the life science R&D area had to function as per the stringent government guidelines with appropriate sanitary measures and social distancing norms. Thus, numerous private research and academic institutes halted or slowed down their research activities.
Research organizations working in life science R&D had to handle their studies with limited resources as they were unable to procure raw materials. The downturn in the world economy during the pandemic declined investment on research and investors delayed their investments. During the COVID-19 pandemic, the governments were more focused on COVID-19 and its vaccine development, owing to which the governments shifted healthcare sector resources toward COVID-19, and hence away from prosthetic sector, resulting in less funding and hampering the growth of the market.
The increase in number of amputees today is on account of chronic diseases such as cancer and diabetes as well as an increased number of accidents worldwide. The most common reason for amputation is trauma followed by chronic diseases. Lower limb amputation is more common than upper limb amputation. With an increasing number of individuals with diabetes and cancer, the rate of amputation has increased in the last several years. These numbers are expected to further increase with rise in prevalence of such diseases. Motorized prostheses are employed to substitute a lost body part such as the upper limb or lower limb. The amputee by wearing this device can be able to walk, stand, possess balance, and regain upright posture. Therefore, prosthesis is used by an amputee. Motorized prosthesis is most commonly used for lower limb amputation. Lower limb prostheses provide an amputee the opportunity to perform functional tasks majorly walking.
To know more about global motorized prosthesis market drivers, get in touch with our analysts here.
The high cost of motorized prosthesis may restrain the motorized prosthesis market growth during the forecast period. Despite a substantial demand for these devices, the high cost of these prosthetic devices is a big challenge. An orthotist or prosthetist prescribes a motorized prosthesis that is customized as per the patient's specific requirements. The cost of these devices rises depending on the level of advancement and sophistication. In addition, less demand for motorized prosthesis in developing nations may limit the Motorized Prosthesis market growth.
Individuals with diabetes are more at risk of requiring lower limb amputation. Ulcers and wounds that do not heal generally cause amputation. Diabetes is connected to two major disorders that increase the probability of foot amputation: diabetic neuropathy and peripheral artery disease (PAD). Diabetic foot ulcers are linked with high morbidity and mortality. Mortality is higher in ischemic ulcers than in neuropathic ulcers. In addition, factors including high blood sugar levels and smoking can augment foot-related complications, which can increase the need for amputation.
To know more about global motorized prosthesis market opportunities, get in touch with our analysts here.
By type, the market is further divided into passive, active, and hybrid. Among these, the passive segment held the largest market share in 2021 and active segment is anticipated to show the fastest CAGR during the forecast period.
Source: Research Dive Analysis
The passive segment held the largest market share in 2021. Passive prostheses often consist of prosthetic hands and prosthetic tools. These can either be adjustable as well as static. Many amputees utilize these prosthesis types. Advancement in prosthetic devices offers passive prosthesis a more realistic look and cosmesis to the amputee limb. Passive prosthetic hands give a realistic appearance and can help in a wide range of activities. Prosthetic tools have a robotic impression and are most commonly developed for distinctive activities, which need to be performed with both hands.
The active segment is expected to show the fastest CAGR during the forecast period. Active prostheses offer external power to the user through motors. These prostheses typically provide more functional qualities than passive prostheses. These devices are lightweight and have adequate control techniques for a broad range of locomotor activities. Active prostheses are generally used by individuals with upper limb weakness. Recent amputees and young children have generally been prescribed a passive prosthetic, which is relatively easy to use. After a period of use, these people are expected to use an active prosthesis.
By end-user, the global motorized prosthesis market has been divided into hospitals, prosthetic clinics, rehabilitation centers, and others. Among these, the hospitals segment is anticipated to show the fastest CAGR during the forecast period.
Source: Research Dive Analysis
The hospitals segment is expected to have the fastest growth during the forecast period. Mostly motorized prostheses are prescribed by hospitals. Most Government-approved prostheses are covered by hospital cover. The hospitals prescribe motorized prostheses who have undergone amputation. Hospitals also provide other services such as the maintenance and repair of artificial limbs by a team of experts.
The motorized prosthesis market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The North America region dominated the global motorized prosthesis market in 2021. The rise in demand for motorized prostheses in this region is majorly attributed to the presence of major players, increase in healthcare spending, the prevalence of chronic diseases such as cancer & diabetes, well-established healthcare infrastructure, and favorable government support. Moreover, the growing prevalence of accidents is further boosting market expansion. In the U.S., diabetes has increased rapidly in the last few years. As per the National Diabetes Statistics Report (2020), around 34.2 million people in the U.S. have diabetes. The rise in prevalence of diabetes is majorly attributed to genetics as well as unhealthy eating patterns and lack of exercise. In severe diabetic cases, the patient needs to undergo amputation.
Joint ventures, investment, merger & acquisition, product development, and technological development are the common strategies followed by major motorized prosthesis market players. For instance, in 2021, Cleveland Clinic researchers developed bionic arm that restores natural behaviors in amputees with upper limb amputations. This is a first-of-its-kind bionic arm for patients with upper-limb amputations that lets amputees feel, behave, and function like a person without an amputation.
Source: Research Dive Analysis
Some of the leading players in Motorized Prosthesis market are Arm Dynamics, Bionic Prosthetics, Orthotics, BionX Medical Technologies, Inc., Faulhaber Group, Freedom Innovations, LLC, Mobius Bionics LLC, Össur hf., Otto Bock HealthCare GmbH, and Sensars Neuroprosthteics.
| Aspect | Particulars |
| Historical Market Estimations | 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast timeline for Market Projection | 2022-2031 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Type
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| Segmentation by End-User |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global motorized prosthesis market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on Motorized Prosthesis market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Motorized Prosthesis Market Analysis, by Type
5.1.Overview
5.2.Passive
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region, 2021-2031
5.2.3.Market share analysis, by country, 2021-2031
5.3.Active
5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region, 2021-2031
5.3.3.Market share analysis, by country, 2021-2031
5.4.Hybrid
5.4.1.Definition, key trends, growth factors, and opportunities
5.4.2.Market size analysis, by region, 2021-2031
5.4.3.Market share analysis, by country, 2021-2031
5.5.Research Dive Exclusive Insights
5.5.1.Market attractiveness
5.5.2.Competition heatmap
6.Motorized Prosthesis Market Analysis, by End-user
6.1.Hospitals
6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region, 2021-2031
6.1.3.Market share analysis, by country, 2021-2031
6.2.Prosthetic Clinics
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region, 2021-2031
6.2.3.Market share analysis, by country, 2021-2031
6.3.Rehabilitation Centers
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region, 2021-2031
6.3.3.Market share analysis, by country, 2021-2031
6.4.Others
6.4.1.Definition, key trends, growth factors, and opportunities
6.4.2.Market size analysis, by region, 2021-2031
6.4.3.Market share analysis, by country, 2021-2031
6.5.Research Dive Exclusive Insights
6.5.1.Market attractiveness
6.5.2.Competition heatmap
7.Motorized Prosthesis Market, by Region
7.1.North America
7.1.1.U.S.
7.1.1.1.Market size analysis, by Type, 2021-2031
7.1.1.2.Market size analysis, by End-user, 2021-2031
7.1.2.Canada
7.1.2.1.Market size analysis, by Type, 2021-2031
7.1.2.2.Market size analysis, by End-user, 2021-2031
7.1.3.Mexico
7.1.3.1.Market size analysis, by Type, 2021-2031
7.1.3.2.Market size analysis, by End-user, 2021-2031
7.1.4.Research Dive Exclusive Insights
7.1.4.1.Market attractiveness
7.1.4.2.Competition heatmap
7.2.Europe
7.2.1.Germany
7.2.1.1.Market size analysis, by Type, 2021-2031
7.2.1.2.Market size analysis, by End-user, 2021-2031
7.2.2.UK
7.2.2.1.Market size analysis, by Type, 2021-2031
7.2.2.2.Market size analysis, by End-user, 2021-2031
7.2.3.France
7.2.3.1.Market size analysis, by Type, 2021-2031
7.2.3.2.Market size analysis, by End-user, 2021-2031
7.2.4.Switzerland
7.2.4.1.Market size analysis, by Type, 2021-2031
7.2.4.2.Market size analysis, by End-user, 2021-2031
7.2.5.Italy
7.2.5.1.Market size analysis, by Type, 2021-2031
7.2.5.2.Market size analysis, by End-user, 2021-2031
7.2.6.Russia
7.2.6.1.Market size analysis, by Type, 2021-2031
7.2.6.2.Market size analysis, by End-user, 2021-2031
7.2.7.Rest of Europe
7.2.7.1.Market size analysis, by Type, 2021-2031
7.2.7.2.Market size analysis, by End-user, 2021-2031
7.2.8.Research Dive Exclusive Insights
7.2.8.1.Market attractiveness
7.2.8.2.Competition heatmap
7.3.Asia Pacific
7.3.1.China
7.3.1.1.Market size analysis, by Type, 2021-2031
7.3.1.2.Market size analysis, by End-user, 2021-2031
7.3.2.Japan
7.3.2.1.Market size analysis, by Type, 2021-2031
7.3.2.2.Market size analysis, by End-user, 2021-2031
7.3.3.India
7.3.3.1.Market size analysis, by Type, 2021-2031
7.3.3.2.Market size analysis, by End-user, 2021-2031
7.3.4.Australia
7.3.4.1.Market size analysis, by Type, 2021-2031
7.3.4.2.Market size analysis, by End-user, 2021-2031
7.3.5.South Korea
7.3.5.1.Market size analysis, by Type, 2021-2031
7.3.5.2.Market size analysis, by End-user, 2021-2031
7.3.6.Rest of Asia Pacific
7.3.6.1.Market size analysis, by Type, 2021-2031
7.3.6.2.Market size analysis, by End-user, 2021-2031
7.3.7.Research Dive Exclusive Insights
7.3.7.1.Market attractiveness
7.3.7.2.Competition heatmap
7.4.LAMEA
7.4.1.Brazil
7.4.1.1.Market size analysis, by Type, 2021-2031
7.4.1.2.Market size analysis, by End-user, 2021-2031
7.4.2.Saudi Arabia
7.4.2.1.Market size analysis, by Type, 2021-2031
7.4.2.2.Market size analysis, by End-user, 2021-2031
7.4.3.UAE
7.4.3.1.Market size analysis, by Type, 2021-2031
7.4.3.2.Market size analysis, by End-user, 2021-2031
7.4.4.South Africa
7.4.4.1.Market size analysis, by Type, 2021-2031
7.4.4.2.Market size analysis, by End-user, 2021-2031
7.4.5.Rest of LAMEA
7.4.5.1.Market size analysis, by Type, 2021-2031
7.4.5.2.Market size analysis, by End-user, 2021-2031
7.4.6.Research Dive Exclusive Insights
7.4.6.1.Market attractiveness
7.4.6.2.Competition heatmap
8.Competitive Landscape
8.1.Top winning strategies, 2021
8.1.1.By strategy
8.1.2.By year
8.2.Strategic overview
8.3.Market share analysis, 2021
9.Company Profiles
9.1.Arm Dynamics
9.1.1.Overview
9.1.2.Business segments
9.1.3.Product portfolio
9.1.4.Financial performance
9.1.5.Recent developments
9.1.6.SWOT analysis
9.2.Bionic Prosthetics
9.2.1.Overview
9.2.2.Business segments
9.2.3.Product portfolio
9.2.4.Financial performance
9.2.5.Recent developments
9.2.6.SWOT analysis
9.3.Orthotics
9.3.1.Overview
9.3.2.Business segments
9.3.3.Product portfolio
9.3.4.Financial performance
9.3.5.Recent developments
9.3.6.SWOT analysis
9.4.BionX Medical Technologies, Inc.
9.4.1.Overview
9.4.2.Business segments
9.4.3.Product portfolio
9.4.4.Financial performance
9.4.5.Recent developments
9.4.6.SWOT analysis
9.5.Faulhaber Group
9.5.1.Overview
9.5.2.Business segments
9.5.3.Product portfolio
9.5.4.Financial performance
9.5.5.Recent developments
9.5.6.SWOT analysis
9.6.Freedom Innovations, LLC
9.6.1.Overview
9.6.2.Business segments
9.6.3.Product portfolio
9.6.4.Financial performance
9.6.5.Recent developments
9.6.6.SWOT analysis
9.7.Mobius Bionics LLC
9.7.1.Overview
9.7.2.Business segments
9.7.3.Product portfolio
9.7.4.Financial performance
9.7.5.Recent developments
9.7.6.SWOT analysis
9.8.Össur hf.
9.8.1.Overview
9.8.2.Business segments
9.8.3.Product portfolio
9.8.4.Financial performance
9.8.5.Recent developments
9.8.6.SWOT analysis
9.9.Otto Bock HealthCare GmbH
9.9.1.Overview
9.9.2.Business segments
9.9.3.Product portfolio
9.9.4.Financial performance
9.9.5.Recent developments
9.9.6.SWOT analysis
9.10.Sensars Neuroprosthteics
9.10.1.Overview
9.10.2.Business segments
9.10.3.Product portfolio
9.10.4.Financial performance
9.10.5.Recent developments
9.10.6.SWOT analysis
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