Increasing vascular diseases prevalence leading to the growth of the global artificial limbs market

calendar_today 04 October, 2022 person_outline Growth Plus Reports

According to the deep-dive market assessment study by Growth+ Reports, the Global Artificial Limbs Market was pegged at ~US$ 6.48 billion in 2021. The market is expected to witness a CAGR of ~4.1% from 2022 to 2030

The rise in the cases of vascular diseases like peripheral arterial diseases (PAD), diabetic neuropathy, severe injuries during adventure sports, road accidents and workplace accidents are the major factors propelling the growth of the global artificial limbs market. Moreover, the rising prevalence of cancer related to bone and muscle, increasing geriatric population, obesity, and unhealthy lifestyle are also pivotal in the growth of the global artificial limbs market. An increase in the adoption of advanced technologies, robotics, and AI are some factors driving the growth in the global artificial limbs market. However, the high cost of artificial limbs, maintenance cost, lack of pre- and post-amputation rehabilitation processes, and unfavorable regulations are some of the restricting factors of the global artificial limbs market. 

The rise in the number of amputations due to vascular diseases, diabetes, peripheral arterial disease (PAD), and blood clots are some of the major causes of amputation and amount up to 54% of all amputations in the U.S. Additionally, 55% of the patients with lower extremity amputation due to diabetes will require second leg amputation within five years. The peripheral arterial disease can narrow the arteries that carry blood to the legs and are more likely to get ulcers, 85% of lower limbs amputations cases begin with foot ulcers. According to the Centers for Disease Control and Prevention (CDC), around 1,900 babies in the U.S. are born with upper or lower limb deformities each year.

The second most common cause of amputation includes traumatic or workplace injuries, accidents related to adventure sports, and road accidents. Approximately 57.7 million people worldwide have a trauma-associated amputation, requiring around 75,850 artificial limbs. Another leading cause of traumatic amputations is falls, taking up 36% of all amputations, followed by road accidents, about 15%. The third most common cause of amputation is cancer in bones and muscles, accumulating 2% of all amputation cases. 

The rise in innovation and adoption of advanced technology like AI is a crucial trend in the overall artificial limb industry. For instance, in June 2022, the University of Minnesota Twin Cities researchers developed a robotic arm that helps users to move the arm using brain signals. An implantable device is attached to the nerve in the patient's arm; combined with AI, the device can read and interpret the brain signal so the patient can control the arm. Another innovative technology is microprocessors. It is cutting-edge prosthetic technology and an update to traditional prosthetics, mimicking regular body movements. 

Conversely, the cost of artificial limbs and their maintenance is significantly high. The lifetime healthcare costs of people with amputation are approximately US$ 150,000. In the early years after amputation, there is a change in the residual limb shape as the tissue needs to form its final shape, thus requiring a frequent change in the sockets, which in turn increases the maintenance cost.

The Asia Pacific is projected to be the fastest growing region of the artificial limbs market. The region's high growth can mainly be attributed to factors such as rapidly developing healthcare infrastructure, rising geriatric population and obesity, increasing numbers of traumatic accidents, and the highest number of amputations due to the traumatic accidents occurring in East Asia and South Asia. The governments in the region are working to create awareness regarding artificial limbs and provide affordable and high-quality artificial limbs. For instance, the Artificial Limbs Manufacturing Corporation of India provides assistive devices to 42 lakh PwDs across India. The Indian government, on humanity bases, provides Jaipur foot (traditional prosthetic). Countries such as India, China, and Japan in the APAC region, are projected to offer significant growth opportunities due to the adoption of new technologies and growing healthcare expenditure. 

Some prominent artificial limbs market players are Blatchford Ltd, Fillauer LLC, Ottobock Inc., Willow Wood Global LLC, Bock Healthcare GmbH, Ossur, Mobius Bionics, Hanger Inc., Steeper Inc., and Liberating Technologies, Inc., among others.

awards awards key differentiators

Reach Us

Web –

// // // //