Orthopedic prosthetics are artificially made substitutes for limbs. Limb loss can be due to congenital disease, trauma, accident, illness, or amputation. The four common types of prosthetic limbs based on partial or complete limb loss are prosthetics below elbow, above elbow, below knee, and above knee. These are connected by an artificial part called socket. Commonly used materials in the manufacture of prosthetic limbs include metal, polymer, and wood. Recently, carbon fiber composites and light-metal alloys have been used in the manufacture of prosthetic limbs. Carbon fiber composites have gained popularity due to significant advantages offered by carbon technology over conventional materials. The carbon fiber-reinforced polymer (CFRP) prosthetic limbs are more preferred due to reduced weight, increased flexibility, higher strength, increased durability, more comfort, and lower cost. 

Increase in injuries leading to amputation, rise in prevalence of diabetes, cancer, and vascular complications, and technological advancements are the major factors projected to propel the growth CFRP orthopedic prosthetics market. According to Amputee Coalition’s limb loss statics, over 1 million limb amputations are performed globally each year, with below knee amputations being the most common. Low awareness about prosthetic limbs in developing countries is anticipated to hamper the growth of the global CFRP orthopedic prosthetics market. Usage of robotics in prosthetic limbs and use of environmental friendly materials are the recent trends in the global CFRP orthopedic prosthetics market. 

The global CFRP orthopedic prosthetics market can be segmented based on product type, technology, and end-user. In terms of product type, the CFRP orthopedic prosthetics market can be divided into upper extremity prosthetics, lower extremity prosthetics, sockets, and others. The lower extremity prosthetics segment dominated the market in 2017 and is expected to sustain its leadership position in terms of CFRP orthopedic prosthetics market share during the forecast period. This is attributed to suitability of CFRP for lower limb prosthetics, higher fatigue resistance, and increased load-bearing and lightweight requirements among end-users. The sockets segment is expected to grow at a high CAGR from 2018 to 2026 due to increase in demand for greater device performance, wearer comfort, and capability. Based on technology, the global CFRP orthopedic prosthetics market can be classified into traditional prosthetics, electric-powered prosthetics, and others. The traditional prosthetics segment held the largest market share in 2017 and is expected to continue to dominate the market during the forecast period. This is due to lower cost than other options, no dependence on external power for operation, and comparatively less time taken to adjust with body. In terms of end-user, the market can be categorized into hospitals, rehabilitation centers & clinics, and others. The hospitals segment accounted for the largest market share in 2017 and is expected to sustain its leadership position from 2018 to 2026. 

In terms of region, the global CFRP orthopedic prosthetics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017 due to high amputation rates in the U.S., rise in prevalence of diabetes, surge in prevalence of cancer and vascular complications leading to amputations, high awareness about prosthetics, and technological advancements. According to an article published in Physical Medicine and Rehabilitation, nearly 2 million people in the U.S. are living with limb loss. The CFRP orthopedic prosthetics market in Asia Pacific is anticipated to expand at the highest CAGR owing to rise in prevalence diabetes, surge in awareness, increase in per capita income, and improved health care infrastructure. 

Major players operating in the global CFRP orthopedic prosthetics market include Össur, The Ohio Willow Wood Company, Kinetic Research, Inc., Hanger, Inc., Touch Bionics, Inc., TRULIFE, Ottobock, Freedom Innovations, LLC, Blatchford Group, and Fillauer LLC.

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

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CFRP Orthopedic Prosthetics Market Size, Share, Growth, Sales, Trade, Pricing Forecast, Installed Bases, Export Value And Volume