Upper Limb Prosthesis Market Size and Share: 2031 Key Findings
The Upper Limb Prosthesis Market is expected to register a CAGR of 5.9% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Component (Prosthetic Wrist, Prosthetic Elbow, Prosthetic Shoulder, Prosthetic Arm, and Terminal Devices). The report further presents analysis based on the Product (Passive Prosthetic Devices, Body Powered Prosthetic Devices, Myoelectric Prosthetic Devices, and Hybrid Prosthetic Devices). The report is segmented by Cause (Trauma, Vascular Disease and Diabetes, and Cancer). The report further presents analysis based on the End User (Hospitals, Prosthetic Clinics, Ambulatory Surgical Centers, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Upper Limb Prosthesis Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Upper Limb Prosthesis Market Segmentation
Component- Prosthetic Wrist
- Prosthetic Elbow
- Prosthetic Shoulder
- Prosthetic Arm
- Terminal Devices
- Passive Prosthetic Devices
- Body Powered Prosthetic Devices
- Myoelectric Prosthetic Devices
- Hybrid Prosthetic Devices
- Trauma
- Vascular Disease and Diabetes
- Cancer
- Hospitals
- Prosthetic Clinics
- Ambulatory Surgical Centers
- Others
Strategic Insights
Upper Limb Prosthesis Market Growth Drivers- Technological Progress: Sustained enhancements in prosthetic and orthotic devices are among the major factors positively influencing the upper limb prosthesis market. Myoelectric prostheses have revolutionized the functionality of prosthetic limbs since it enabled using electrical signals from the muscles to control the artificial limbs. These prostheses provide enhanced functionality as they allow for more sophisticated control during use enabling the user to achieve tasks that require more finesse and accurate movement. Furthermore, the utilization of AI as well as machine learning incorporated in the design of prosthetics has made smarter prosthetic limbs that adjust to the user movement maximizing its utility.
- Rising Prevalence of Limb Amputations: The market is also witnessing an upsurge owing to the increased number of population across the globe that is suffering from upper extremity limb loss amputations caused by violence, accidents, disease, such as diabetes and neoplasia. The World Health Organization has reported an alarming increase in the number of amputations performed today especially in the less developed nations of the world. Due to the upsurge of demand, there is also a growing market for effective orthotic solutions for prostheses which aim to enhance the functional capabilities in an aesthetic way.
- Increasing Awareness and Acceptance: Individuals are now more aware of the availability of enhanced prosthetic solutions. With more areas of media and pressure groups informing people about the good sides of prosthetics, many people choose to have such limbs in order to move freely once again. Psychologically, society has also positively accepted the use of prostheses due to the practicality of the devices and tolerating the changes in body image.
- Bionics and Smart Prosthetics: The combination of bionics with upper limb prostheses is one of the most promising trends on the market. Bionic prosthesis are made with the intention of imitating the motion of human body and as such able to perform functions far greater than those of standard prosthesis. These devices frequently utilize knee and elbow mechanisms that mimic an actual limb. And it can be never enough of control - inclusion of sensors or AI means that the adjustment will be ongoing.
- 3D Printing and Customization: Another trend that is expected to impact the industry is the use of 3D printing technology in the making of upper Upper Limb Prosthesis. It is a salient feature of this technology that helps the user to make the prosthesis according to one’s individual specifications. This technology renders bionics less expensive, but also improves their usefulness and ease of use. Bionics produced using 3D printing technology can be designed to be lighter, more user-friendly, more attractive and provide wide range of choices for users.
- Focus on Aesthetics and Design: This also correlates with another tendency, which is its increasing relevance in the design of upper Upper Limb Prosthesis. Most of the amputees now do not want just functional prostheses as they want devices that resemble a limb. Manufactures of prosthetic devices tend to make attractive prostheses which are closer to the human limbs. There is an increasing trend in customization for example in different colors and covers.
- Creating Advanced Low-Cost Prosthesis: Indeed the figure for functional high-quality prosthetic limbs remains as relative indecisiveness for so many people especially those living in low-income regions. More cost efficient and economical options without compromising on functionality and comfort can further be invented. This is how science for production of material particularly plastics such as bio-compatible plastics and composites plus the incorporation of 3D printing comes in to help scale-down the cost of production making the prosthesis more reachable to a wider range of consumers.
- Prosthetic Solutions Adapting to the Individual Users: The market is on the rise to ‘the’ growing need for implants that are designed to suit the patient; everyone is getting used to such prosthesis. The impression of the companies is thus to deliver an orthopaedic limb that will be fitted into an athlete, a child or someone with strange upper and lower limbs configuration. On the other hand, customized prosthetics tend to serve more than just functionality and beauty which in turn enhances users experience and satisfaction with the product.
- Inter-Industry and Inter-Academia Cooperation: Joint work of limb prosthesis manufacturers and suppliers of medical services, research and development organizations, and technology business has good prospects for innovation. Integrating biomechanic, robotic, and material studies presents a wider set of opportunities for improving design and function of prostheses. Such cooperative efforts can also speed up the process of creating high-end prosthetic devices that will suit various patients.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Upper Limb Prosthesis Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Upper Limb Prosthesis Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Trauma segment, by cause, dominated the market in 2023.
North America region dominated the Upper Limb Prosthesis market in 2023.
Creating Advanced Low-Cost Prosthesis as a opportunity for growth of the market in forecast period.
The Upper Limb Prosthesis Market is estimated to witness a CAGR of 5.9% from 2023 to 2031
The major factors driving the Upper Limb Prosthesis market are:
1. Technological Progress
2. Rising Prevalence of Limb Amputations
Players operating in the market are Ottobock SE & Co. KGaA, Endolite India Ltd., Ossur, Fillauer LLC, College Park Industries, Steeper Inc., TRS Inc., Howard Orthopedics Inc., WillowWood Global LLC, CPOUSA
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Upper Limb Prosthesis Market - By Component
1.3.2 Upper Limb Prosthesis Market - By Product
1.3.3 Upper Limb Prosthesis Market - By Cause
1.3.4 Upper Limb Prosthesis Market - By End Use
1.3.5 Upper Limb Prosthesis Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. UPPER LIMB PROSTHESIS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. UPPER LIMB PROSTHESIS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. UPPER LIMB PROSTHESIS MARKET - GLOBAL MARKET ANALYSIS
6.1. UPPER LIMB PROSTHESIS - GLOBAL MARKET OVERVIEW
6.2. UPPER LIMB PROSTHESIS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. UPPER LIMB PROSTHESIS MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. PROSTHETIC WRIST
7.3.1. Overview
7.3.2. Prosthetic Wrist Market Forecast and Analysis
7.4. PROSTHETIC ELBOW
7.4.1. Overview
7.4.2. Prosthetic Elbow Market Forecast and Analysis
7.5. PROSTHETIC SHOULDER
7.5.1. Overview
7.5.2. Prosthetic Shoulder Market Forecast and Analysis
7.6. PROSTHETIC ARM
7.6.1. Overview
7.6.2. Prosthetic Arm Market Forecast and Analysis
7.7. TERMINAL DEVICES
7.7.1. Overview
7.7.2. Terminal Devices Market Forecast and Analysis
8. UPPER LIMB PROSTHESIS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
8.1. OVERVIEW
8.2. PRODUCT MARKET FORECASTS AND ANALYSIS
8.3. PASSIVE PROSTHETIC DEVICES
8.3.1. Overview
8.3.2. Passive Prosthetic Devices Market Forecast and Analysis
8.4. BODY POWERED PROSTHETIC DEVICES
8.4.1. Overview
8.4.2. Body Powered Prosthetic Devices Market Forecast and Analysis
8.5. MYOELECTRIC PROSTHETIC DEVICES
8.5.1. Overview
8.5.2. Myoelectric Prosthetic Devices Market Forecast and Analysis
8.6. HYBRID PROSTHETIC DEVICES
8.6.1. Overview
8.6.2. Hybrid Prosthetic Devices Market Forecast and Analysis
9. UPPER LIMB PROSTHESIS MARKET - REVENUE AND FORECASTS TO 2028 - CAUSE
9.1. OVERVIEW
9.2. CAUSE MARKET FORECASTS AND ANALYSIS
9.3. TRAUMA
9.3.1. Overview
9.3.2. Trauma Market Forecast and Analysis
9.4. VASCULAR DISEASE AND DIABETES
9.4.1. Overview
9.4.2. Vascular Disease and Diabetes Market Forecast and Analysis
9.5. CANCER
9.5.1. Overview
9.5.2. Cancer Market Forecast and Analysis
10. UPPER LIMB PROSTHESIS MARKET - REVENUE AND FORECASTS TO 2028 - END USE
10.1. OVERVIEW
10.2. END USE MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS
10.3.1. Overview
10.3.2. Hospitals Market Forecast and Analysis
10.4. PROSTHETIC CLINICS
10.4.1. Overview
10.4.2. Prosthetic Clinics Market Forecast and Analysis
10.5. AMBULATORY SURGICAL CENTERS
10.5.1. Overview
10.5.2. Ambulatory Surgical Centers Market Forecast and Analysis
10.6. OTHERS
10.6.1. Overview
10.6.2. Others Market Forecast and Analysis
11. UPPER LIMB PROSTHESIS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Upper Limb Prosthesis Market Overview
11.1.2 North America Upper Limb Prosthesis Market Forecasts and Analysis
11.1.3 North America Upper Limb Prosthesis Market Forecasts and Analysis - By Component
11.1.4 North America Upper Limb Prosthesis Market Forecasts and Analysis - By Product
11.1.5 North America Upper Limb Prosthesis Market Forecasts and Analysis - By Cause
11.1.6 North America Upper Limb Prosthesis Market Forecasts and Analysis - By End Use
11.1.7 North America Upper Limb Prosthesis Market Forecasts and Analysis - By Countries
11.1.7.1 United States Upper Limb Prosthesis Market
11.1.7.1.1 United States Upper Limb Prosthesis Market by Component
11.1.7.1.2 United States Upper Limb Prosthesis Market by Product
11.1.7.1.3 United States Upper Limb Prosthesis Market by Cause
11.1.7.1.4 United States Upper Limb Prosthesis Market by End Use
11.1.7.2 Canada Upper Limb Prosthesis Market
11.1.7.2.1 Canada Upper Limb Prosthesis Market by Component
11.1.7.2.2 Canada Upper Limb Prosthesis Market by Product
11.1.7.2.3 Canada Upper Limb Prosthesis Market by Cause
11.1.7.2.4 Canada Upper Limb Prosthesis Market by End Use
11.1.7.3 Mexico Upper Limb Prosthesis Market
11.1.7.3.1 Mexico Upper Limb Prosthesis Market by Component
11.1.7.3.2 Mexico Upper Limb Prosthesis Market by Product
11.1.7.3.3 Mexico Upper Limb Prosthesis Market by Cause
11.1.7.3.4 Mexico Upper Limb Prosthesis Market by End Use
11.2. EUROPE
11.2.1 Europe Upper Limb Prosthesis Market Overview
11.2.2 Europe Upper Limb Prosthesis Market Forecasts and Analysis
11.2.3 Europe Upper Limb Prosthesis Market Forecasts and Analysis - By Component
11.2.4 Europe Upper Limb Prosthesis Market Forecasts and Analysis - By Product
11.2.5 Europe Upper Limb Prosthesis Market Forecasts and Analysis - By Cause
11.2.6 Europe Upper Limb Prosthesis Market Forecasts and Analysis - By End Use
11.2.7 Europe Upper Limb Prosthesis Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Upper Limb Prosthesis Market
11.2.7.1.1 Germany Upper Limb Prosthesis Market by Component
11.2.7.1.2 Germany Upper Limb Prosthesis Market by Product
11.2.7.1.3 Germany Upper Limb Prosthesis Market by Cause
11.2.7.1.4 Germany Upper Limb Prosthesis Market by End Use
11.2.7.2 France Upper Limb Prosthesis Market
11.2.7.2.1 France Upper Limb Prosthesis Market by Component
11.2.7.2.2 France Upper Limb Prosthesis Market by Product
11.2.7.2.3 France Upper Limb Prosthesis Market by Cause
11.2.7.2.4 France Upper Limb Prosthesis Market by End Use
11.2.7.3 Italy Upper Limb Prosthesis Market
11.2.7.3.1 Italy Upper Limb Prosthesis Market by Component
11.2.7.3.2 Italy Upper Limb Prosthesis Market by Product
11.2.7.3.3 Italy Upper Limb Prosthesis Market by Cause
11.2.7.3.4 Italy Upper Limb Prosthesis Market by End Use
11.2.7.4 Spain Upper Limb Prosthesis Market
11.2.7.4.1 Spain Upper Limb Prosthesis Market by Component
11.2.7.4.2 Spain Upper Limb Prosthesis Market by Product
11.2.7.4.3 Spain Upper Limb Prosthesis Market by Cause
11.2.7.4.4 Spain Upper Limb Prosthesis Market by End Use
11.2.7.5 United Kingdom Upper Limb Prosthesis Market
11.2.7.5.1 United Kingdom Upper Limb Prosthesis Market by Component
11.2.7.5.2 United Kingdom Upper Limb Prosthesis Market by Product
11.2.7.5.3 United Kingdom Upper Limb Prosthesis Market by Cause
11.2.7.5.4 United Kingdom Upper Limb Prosthesis Market by End Use
11.2.7.6 Rest of Europe Upper Limb Prosthesis Market
11.2.7.6.1 Rest of Europe Upper Limb Prosthesis Market by Component
11.2.7.6.2 Rest of Europe Upper Limb Prosthesis Market by Product
11.2.7.6.3 Rest of Europe Upper Limb Prosthesis Market by Cause
11.2.7.6.4 Rest of Europe Upper Limb Prosthesis Market by End Use
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Upper Limb Prosthesis Market Overview
11.3.2 Asia-Pacific Upper Limb Prosthesis Market Forecasts and Analysis
11.3.3 Asia-Pacific Upper Limb Prosthesis Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Upper Limb Prosthesis Market Forecasts and Analysis - By Product
11.3.5 Asia-Pacific Upper Limb Prosthesis Market Forecasts and Analysis - By Cause
11.3.6 Asia-Pacific Upper Limb Prosthesis Market Forecasts and Analysis - By End Use
11.3.7 Asia-Pacific Upper Limb Prosthesis Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Upper Limb Prosthesis Market
11.3.7.1.1 Australia Upper Limb Prosthesis Market by Component
11.3.7.1.2 Australia Upper Limb Prosthesis Market by Product
11.3.7.1.3 Australia Upper Limb Prosthesis Market by Cause
11.3.7.1.4 Australia Upper Limb Prosthesis Market by End Use
11.3.7.2 China Upper Limb Prosthesis Market
11.3.7.2.1 China Upper Limb Prosthesis Market by Component
11.3.7.2.2 China Upper Limb Prosthesis Market by Product
11.3.7.2.3 China Upper Limb Prosthesis Market by Cause
11.3.7.2.4 China Upper Limb Prosthesis Market by End Use
11.3.7.3 India Upper Limb Prosthesis Market
11.3.7.3.1 India Upper Limb Prosthesis Market by Component
11.3.7.3.2 India Upper Limb Prosthesis Market by Product
11.3.7.3.3 India Upper Limb Prosthesis Market by Cause
11.3.7.3.4 India Upper Limb Prosthesis Market by End Use
11.3.7.4 Japan Upper Limb Prosthesis Market
11.3.7.4.1 Japan Upper Limb Prosthesis Market by Component
11.3.7.4.2 Japan Upper Limb Prosthesis Market by Product
11.3.7.4.3 Japan Upper Limb Prosthesis Market by Cause
11.3.7.4.4 Japan Upper Limb Prosthesis Market by End Use
11.3.7.5 South Korea Upper Limb Prosthesis Market
11.3.7.5.1 South Korea Upper Limb Prosthesis Market by Component
11.3.7.5.2 South Korea Upper Limb Prosthesis Market by Product
11.3.7.5.3 South Korea Upper Limb Prosthesis Market by Cause
11.3.7.5.4 South Korea Upper Limb Prosthesis Market by End Use
11.3.7.6 Rest of Asia-Pacific Upper Limb Prosthesis Market
11.3.7.6.1 Rest of Asia-Pacific Upper Limb Prosthesis Market by Component
11.3.7.6.2 Rest of Asia-Pacific Upper Limb Prosthesis Market by Product
11.3.7.6.3 Rest of Asia-Pacific Upper Limb Prosthesis Market by Cause
11.3.7.6.4 Rest of Asia-Pacific Upper Limb Prosthesis Market by End Use
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Upper Limb Prosthesis Market Overview
11.4.2 Middle East and Africa Upper Limb Prosthesis Market Forecasts and Analysis
11.4.3 Middle East and Africa Upper Limb Prosthesis Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Upper Limb Prosthesis Market Forecasts and Analysis - By Product
11.4.5 Middle East and Africa Upper Limb Prosthesis Market Forecasts and Analysis - By Cause
11.4.6 Middle East and Africa Upper Limb Prosthesis Market Forecasts and Analysis - By End Use
11.4.7 Middle East and Africa Upper Limb Prosthesis Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Upper Limb Prosthesis Market
11.4.7.1.1 South Africa Upper Limb Prosthesis Market by Component
11.4.7.1.2 South Africa Upper Limb Prosthesis Market by Product
11.4.7.1.3 South Africa Upper Limb Prosthesis Market by Cause
11.4.7.1.4 South Africa Upper Limb Prosthesis Market by End Use
11.4.7.2 Saudi Arabia Upper Limb Prosthesis Market
11.4.7.2.1 Saudi Arabia Upper Limb Prosthesis Market by Component
11.4.7.2.2 Saudi Arabia Upper Limb Prosthesis Market by Product
11.4.7.2.3 Saudi Arabia Upper Limb Prosthesis Market by Cause
11.4.7.2.4 Saudi Arabia Upper Limb Prosthesis Market by End Use
11.4.7.3 U.A.E Upper Limb Prosthesis Market
11.4.7.3.1 U.A.E Upper Limb Prosthesis Market by Component
11.4.7.3.2 U.A.E Upper Limb Prosthesis Market by Product
11.4.7.3.3 U.A.E Upper Limb Prosthesis Market by Cause
11.4.7.3.4 U.A.E Upper Limb Prosthesis Market by End Use
11.4.7.4 Rest of Middle East and Africa Upper Limb Prosthesis Market
11.4.7.4.1 Rest of Middle East and Africa Upper Limb Prosthesis Market by Component
11.4.7.4.2 Rest of Middle East and Africa Upper Limb Prosthesis Market by Product
11.4.7.4.3 Rest of Middle East and Africa Upper Limb Prosthesis Market by Cause
11.4.7.4.4 Rest of Middle East and Africa Upper Limb Prosthesis Market by End Use
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Upper Limb Prosthesis Market Overview
11.5.2 South and Central America Upper Limb Prosthesis Market Forecasts and Analysis
11.5.3 South and Central America Upper Limb Prosthesis Market Forecasts and Analysis - By Component
11.5.4 South and Central America Upper Limb Prosthesis Market Forecasts and Analysis - By Product
11.5.5 South and Central America Upper Limb Prosthesis Market Forecasts and Analysis - By Cause
11.5.6 South and Central America Upper Limb Prosthesis Market Forecasts and Analysis - By End Use
11.5.7 South and Central America Upper Limb Prosthesis Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Upper Limb Prosthesis Market
11.5.7.1.1 Brazil Upper Limb Prosthesis Market by Component
11.5.7.1.2 Brazil Upper Limb Prosthesis Market by Product
11.5.7.1.3 Brazil Upper Limb Prosthesis Market by Cause
11.5.7.1.4 Brazil Upper Limb Prosthesis Market by End Use
11.5.7.2 Argentina Upper Limb Prosthesis Market
11.5.7.2.1 Argentina Upper Limb Prosthesis Market by Component
11.5.7.2.2 Argentina Upper Limb Prosthesis Market by Product
11.5.7.2.3 Argentina Upper Limb Prosthesis Market by Cause
11.5.7.2.4 Argentina Upper Limb Prosthesis Market by End Use
11.5.7.3 Rest of South and Central America Upper Limb Prosthesis Market
11.5.7.3.1 Rest of South and Central America Upper Limb Prosthesis Market by Component
11.5.7.3.2 Rest of South and Central America Upper Limb Prosthesis Market by Product
11.5.7.3.3 Rest of South and Central America Upper Limb Prosthesis Market by Cause
11.5.7.3.4 Rest of South and Central America Upper Limb Prosthesis Market by End Use
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL UPPER LIMB PROSTHESIS MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. UPPER LIMB PROSTHESIS MARKET, KEY COMPANY PROFILES
14.1. OTTOBOCK SE AND CO. KGAA
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. ENDOLITE INDIA LTD.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. OSSUR
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. FILLAUER LLC
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. COLLEGE PARK INDUSTRIES
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. STEEPER INC.
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. TRS INC.
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. HOWARD ORTHOPEDICS INC.
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. WILLOWWOOD GLOBAL LLC
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. CPOUSA
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Ottobock SE & Co. KGaA
2. Endolite India Ltd.
3. Ossur
4. Fillauer LLC
5. College Park Industries
6. Steeper Inc.
7. TRS Inc.
8. Howard Orthopedics Inc.
9. WillowWood Global LLC
10. CPOUSA
11. Coapt LLC
12. Touch Bionics Inc.
13. Open Bionics Ltd
14. Protunix
15. Blatchford Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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