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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Cfrp Orthopedic Prosthetics Market

Pre Book