Global Motorized Prosthesis Market Size Sets New Record, Projected at USD 154.1 million by 2031 | CAGR of 11.2%
Rising number of road accidents, diabetes, and other medical conditions & the increasing prevalence of amputation drive the growth of the Motorized Prosthesis
PORTLAND, OREGON, UNITED STATES, June 21, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Motorized Prosthesis Market1 ๐๐ฒ ๐๐ฒ๐ฉ๐ (๐๐๐ฌ๐ฌ๐ข๐ฏ๐, ๐๐๐ญ๐ข๐ฏ๐, ๐๐ฒ๐๐ซ๐ข๐), ๐๐ฒ ๐๐ง๐-๐ฎ๐ฌ๐๐ซ (๐๐จ๐ฌ๐ฉ๐ข๐ญ๐๐ฅ๐ฌ, ๐๐ซ๐จ๐ฌ๐ญ๐ก๐๐ญ๐ข๐ ๐๐ฅ๐ข๐ง๐ข๐๐ฌ, ๐๐๐ก๐๐๐ข๐ฅ๐ข๐ญ๐๐ญ๐ข๐จ๐ง ๐๐๐ง๐ญ๐๐ซ๐ฌ, ๐๐ญ๐ก๐๐ซ๐ฌ): ๐๐ฅ๐จ๐๐๐ฅ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐๐ง๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ, ๐๐๐๐-๐๐๐๐." According to the report, the global Motorized Prosthesis Market Size was valued at USD 57.4 million in 2021, and it is projected to reach USD 154.1 million by 2031, registering a CAGR Of 11.2% from 2022 to 2031.
This report provides a comprehensive overview of the Motorized Prosthesis Market, including an in-depth analysis of market trends, key segments, investment opportunities, value chain analysis, regional landscape, and competitive scenarios. It offers valuable insights for established market players, new entrants, investors, and other stakeholders to devise effective strategies and make informed decisions to enhance their market position. The report is a valuable resource for anyone seeking to gain a deeper understanding of the Motorized Prosthesis Market and its growth potential in the future.
Rising number of road accidents, diabetes, and other medical conditions, increasing prevalence of amputation, and surge in the awareness of advanced prosthetic devices drive the growth of the global motorized prosthesis market. On the other hand, weight and durability of some motorized prostheses can be heavy and prone to breakage, which can limit their use and longevity. This factor impedes growth to some extent. However, increase in the number of initiatives taken by governments and non-profit organizations to provide financial assistance for the purchase of prosthetic devices are expected to create lucrative opportunities in the industry.
๐๐๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/request-sample/32352
๐๐จ๐ฉ ๐๐จ๐ญ๐จ๐ซ๐ข๐ณ๐๐ ๐๐ซ๐จ๐ฌ๐ญ๐ก๐๐ฌ๐ข๐ฌ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
โข Otto Bock HealthCare GmbH
โข Hanger Inc.
โข Faulhaber Group
โข Arm Dynamics
โข Orthotics
โข BionX Medical Technologies Inc.
โข Freedom Innovations LLC
โข Mobius Bionics LLC
โข รssur hf.
โข Otto Bock HealthCare GmbH
โข Touch Bionics Inc
โข Integrum AB
๐๐จ๐ญ๐จ๐ซ๐ข๐ณ๐๐ ๐๐ซ๐จ๐ฌ๐ญ๐ก๐๐ฌ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง: โ
By type, the passive segment accounted for the major share in 2021, garnering more than two-fifths of the global motorized prosthesis market revenue. This is because passive prostheses can be fixed or can be adjusted as per the needs. The active segment, however, would cite the fastest CAGR of 11.7% from 2022 to 2031. This is owing to the fact that active prostheses generally offer more functional qualities compared to passive prostheses.
By end-user, the hospital's segment held the highest share in 2021, holding around two-fifths of the global motorized prosthesis market revenue. The same segment would also portray the fastest CAGR of 11.6% from 2022 to 2031. This is because motorized prostheses are mostly prescribed by hospitals.
By region, North America garnered the major share in 2021, accounting for nearly two-fifths of the global motorized prosthesis market revenue. Increased technological advancements and surge in R&D expenditure on healthcare across the region drive the market growth. The Asia-Pacific region, simultaneously, would portray the fastest CAGR of 12.9% by 2031. This is due to the growing prevalence of critical diseases such as diabetes in this province.
๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/purchase-enquiry/32352
Key Benefits For Stakeholders
โข This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the motorized prosthesis market analysis from 2021 to 2031 to identify the prevailing motorized prosthesis market opportunities.
โข The market research is offered along with information related to key drivers, restraints, and opportunities.
โข Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
โข In-depth analysis of the motorized prosthesis market segmentation assists to determine the prevailing market opportunities.
โข Major countries in each region are mapped according to their revenue contribution to the global market.
โข Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
โข The report includes the analysis of the regional as well as global motorized prosthesis market trends, key players, market segments, application areas, and market growth strategies.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
โข Which are the driving factors responsible for the growth of market?
โข Which are the roadblock factors of this market?
โข What are the new opportunities, by which market will grow in coming years?
โข What are the trends of this market?
โข Which are main factors responsible for new product launch?
โข How big is the global & regional market in terms of revenue, sales and production?
โข How far will the market grow in forecast period in terms of revenue, sales and production?
โข Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
โข How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
โข Which region has more opportunities?
By Region Outlook
โข North America
(U.S., Canada, Mexico)
โข Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
โข Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
โข LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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David Correa
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of โMarket Research Reportsโ and โBusiness Intelligence Solutions.โ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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