With the increasing incidence of road accidents, sports injuries, and genetic diseases, the market for artificial limbs is witnessing a tremendous rise across the world. Technological advancements in mechanical devices that offer assistance to individuals with amputation in performing everyday-duties are also supporting the growth of this market substantially and are likely to continue doing this in the years to come. Transparency Market Research (TMR) states that the opportunity in the global market is increasing at a healthy CAGR of 5.70% between 2017 and 2025, expanding from US$1.7 bn in 2016 to US$2.86 bn by the end of 2025.
Analysts at TMR are answering some of the important queries regarding the global artificial limbs market in this blog post:
Which is the most favored product in the global artificial limbs market?
The key products available in the global artificial limbs market are lower extremity prosthetics, upper extremity prosthetics, liners, and sockets. Among these, the demand for lower extremity prosthetics is comparatively higher and is expected to remain so over the forthcoming years, thanks to the increasing prevalence of vascular diseases and the augmenting number of road accidents across the world.
Read Report Overview: https://www.transparencymarketresearch.com/artificial-limbs-market.html
Which of the regional markets will acquire the leading position in future?
The market reports its spread across Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. North America, among these, has been leading the global market, thanks to the high disposable income of consumers. The early adoption of technologies in this region has also supported the growth of the North America market for artificial limbs significantly. Over the coming years, the increasing awareness among people is likely to support this regional market in maintaining its dominance.
What are the main strategies adopted by the leading players in this market?
The leading companies in this market, such as Össur, Ohio Willow Wood Co., PROTEOR, and Liberating Technologies, are emphasizing on expanding their regional boundaries to gain an edge over their competitors.