Upper Limb Prosthetics Market

Global Upper Limb Prosthetics Market Size (2024 to 2029)

The global upper limb prosthetics market is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2029 and be worth USD 1.54 billion by 2029 from USD 1.20 billion in 2024.

MARKET DRIVERS

The rising incidences of amputations will drive the demand for upper limb prosthetic devices in the coming years and drive the market growth.

Accidents, trauma, congenital limb deficiencies, and medical conditions such as cancer, diabetes, and vascular diseases contribute to the need for upper limb prosthetics. Surgery is a crucial part of treatment for almost all osteosarcomas, including the biopsy to diagnose cancer and the removal of the tumour. Therefore, a high number of bone cancer cases across the world will boost the demand for prosthetics. The rising prevalence of sports injuries such as tennis elbow is also anticipated to fuel the growth of the market as it will increase the demand for prosthetic elbows.

Technological advancements further propel the upper limb prosthetics market growth. Advancements in technology have increased the adoption and demand for upper limb prosthetics as innovations in myoelectric control systems, robotics, and AI have enhanced the functionality and usability of prosthetic devices. Improved capabilities allow the manufacturing of personalized prosthetic devices that better fit the needs of individuals. Therefore, the growing trend of customized prosthetic solutions will contribute to the market growth.

The increased awareness about prosthetic options has also raised the visibility of upper limb prosthetics, thereby driving market growth. Improved insurance coverage and reimbursement policies for prosthetic devices have increased the affordability for individuals, thereby increasing the adoption of prosthetics among individuals.

MARKET RESTRAINTS

High costs associated with the upper limb prosthetics hampers the market growth. upper limb prosthetic devices can be expensive, and the cost may act as a significant restraint for many individuals. The advanced technologies and materials used in prosthetics contribute to their high price, making them less accessible to certain segments of the population, especially in regions with limited healthcare resources or inadequate insurance coverage. While there has been an overall increase in awareness of upper limb prosthetics, many individuals may not be aware of the available options in the market and the benefits of prosthetics. Therefore, a lack of awareness can hinder market growth. Another major restraint can be the fit and comfort challenges of prosthetic devices. Everyone requires customization and adjustments for achieving the right fit. Ill-fitting or uncomfortable prosthetics may contribute to patient dissatisfaction and decreased usage.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Upper Limb Prosthetics Market Analysis By Product Type

Based on the product type, the passive prosthetic devices segment held the dominant position in the upper limb prosthetics market in 2023 and the domination of the segment is likely to continue throughout the forecast period. Passive prostheses have gained popularity due to the factors such as technological developments in the prosthesis sector and an increase in trauma cases.

However, the myoelectric prosthetic devices segment is expected to grow at a significant growth rate over the forecast period. Myoelectric prostheses, also commonly known as electric prostheses, are controlled using electric signals created by the body muscles. These prosthetics work by using the patient’s existing muscles in the residual limb to control the functions of the prosthetic device itself. Hence, these have gained popularity among those who want natural-looking prostheses. Additionally, recent technological advancements enhancing the efficacy of myoelectric prosthetics are expected to contribute to market growth. Thus, due to the above-mentioned factors, the myoelectric segment is expected to grow significantly over the forecast period.

Global Upper Limb Prosthetics Market Analysis By Component

Based on the component, the prosthetic arm segment dominates the upper limb prosthetics market currently and is expected to remain dominant over the forecast period, owing to the rise in the prevalence of joint disorders in both developed as well as emerging nations, rise in the number of accidents, and increase in the geriatric population which have led to a surge in the demand for upper limb prosthetics market.

Global Upper Limb Prosthetics Market Analysis By End-User

Based one end-user, the prosthetic clinics segment is expected to occupy the leading share of the global market during the forecast period. Factors such as the growing awareness about advanced prosthetic technologies and innovations offered by prosthetic clinics, increasing number of collaborations between prosthetic clinics and manufacturers for custom-designed upper limb prosthetics and growing demand for personalized care and rehabilitation services to optimize functional outcomes primarily drive the growth of the prosthetic clinics segment.

The hospital segment is anticipated to account for a considerable share of the global market in the coming years owing to the rising prevalence of upper limb amputations due to trauma, accidents, and congenital conditions, leading to an increased demand for prosthetic services in hospitals. The growing number of improvements in the healthcare infrastructure and increasing number of initiatives from the governments of several countries supporting prosthetic care in hospitals further propel the growth of the hospital segment.

REGIONAL ANALYSIS

North America dominated the upper limb prosthetics market in 2023, accounting for the highest market share, and is expected to maintain its position throughout the forecast period. This can be attributed to the presence of major key players in the region, increasing incidences of accidents and trauma, a rise in patient awareness towards prosthetic surgeries, a surge in demand for prosthetic devices, and the availability of advanced healthcare infrastructure in the region. Recent developments in the upper limb prosthetics market in North America include the use of novel polymer materials and the creation of prosthetics that meet patients' functional requirements. To meet customer expectations, manufacturers are emphasising the development of orthopaedic prosthetics that are lightweight but incredibly durable.

Europe is a prominent regional market for upper limb prosthetics and is expected to account for a substantial share of the global market during the forecast period. The presence of a well-established healthcare system, increasing prevalence of limb amputations and rising awareness about advanced prosthetic solutions primarily drive the growth of the European market. An increasing number of traumatic injuries and age-related conditions leading to limb loss, rising focus on personalized and patient-centric prosthetic solutions to enhance user comfort and functionality and growing number of collaborations between prosthetic manufacturers and research institutions for innovation and product development further boost the growth rate of the European market. The UK, Germany and France are estimated to hold the leading share of the European market during the forecast period.

APAC is the most lucrative regional market for upper limb prosthetics and is anticipated to witness a promising CAGR in the coming years. The growing prevalence of limb amputations due to road accidents, work-related injuries, and congenital conditions is one of the major factors propelling the APAC market growth. The growing number of improvements in the healthcare infrastructure, increasing availability of prosthetic clinics and rehabilitation centers and rapid adoption of 3D-printed prosthetics that offer cost-effective and customized solutions further fuel the growth rate of the APAC market. China led the market in the APAC region in 2023, followed by India and Japan.

KEY MARKET PLAYERS