Limb Salvage Systems Market
Number of pages: 100 | Report Format: PDF | Published date: May 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
CAGR |
5.3% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product, Application, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global limb salvage systems market is expected to register a revenue CAGR of 5.3% in the forecast years 2023 to 2031.
Limb Salvage Systems Market Fundamentals
Limb salvage systems are medical devices used to save and restore function in a limb on the verge of amputation owing to severe damage, trauma, or infection. Limb salvage aims to avoid amputation and allow patients to keep as much of their limbs as possible, enhancing their quality of life. Limb salvage systems are interdisciplinary in nature, including orthopedic surgeons, vascular surgeons, plastic surgeons, and other healthcare experts. The precise procedures and equipment employed differ depending on the individual situation, but the overarching goal is to address the underlying ailment or damage while preserving the structural integrity and efficacy of the limb.
Advances in medical research, surgical procedures, and technology developments promote the evolution of limb salvage techniques and technologies. These advancements have greatly improved the quality of life for individuals who have suffered limb loss or are at risk of amputation. With ongoing research and innovation, companies continue to enhance these techniques and technologies, ultimately providing better outcomes and a brighter future for those in need.
The global limb salvage systems industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the limb salvage systems market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the limb salvage systems market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
Limb Salvage Systems Market Dynamics
The increasing prevalence of limb loss due to critical limb ischemia is the most prominent factor driving the limb salvage systems market. In 2019, National Center for Biotechnology Information stated that approximately 25% of patients with critical limb ischemia are reported to need a significant limb amputation within a year, while roughly 35-67% of these patients require such an amputation within four years. Furthermore, innovative technologies and advancements in limb salvage are expected to drive market growth in the forecast years.
Moreover, research and development efforts are concentrated on incorporating sensors and smart technology into implants and prostheses for limb salvage. These technologies can give real-time information on implant function, weight distribution, and tissue health. The researchers aim to create implanted sensors and wireless communication systems that will allow for continuous monitoring and individualized therapy actions.
However, high costs, limited reimbursement policies, lack of awareness, and stringent regulatory requirements are the major restraining factor in the global limb salvage systems market.
Limb Salvage Systems Market Ecosystem
Limb Salvage Systems Market, by Product Type
Limb Salvage Systems Market, by Application
Limb Salvage Systems Market, by End User
Limb Salvage Systems Market by Product Type
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Allo-metal prostheses segment accounted for 35% of the global limb salvage systems market share. Allo-metal prostheses combine materials, typically metal alloys, to provide structural support and functionality in limb salvage procedures. Additionally, allo-metal prostheses are highly regarded for their success in limb salvage surgeries. They have proven effective in restoring limb function and durability, making them a preferred choice for surgeons and patients. Using metal alloys in these prostheses, such as titanium and cobalt-chromium, ensures excellent mechanical strength, corrosion resistance, and biocompatibility, which are crucial for the long-term survival of the implant.
The market segmentation sections provide the limb salvage systems market outlook in terms of the demarcation of different consumer groups. Market segmentation is the splitting of industry into subgroups depending on characteristics such as product, application, end user, and region. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential limb salvage systems market demand opportunities.
Limb Salvage Systems Market by Region
North America accounted for the majority of the market revenue share. The most prominent factor supporting this dominance is the increasing prevalence of bone cancer. As stated by the American cancer society, in 2023, around 3,970 new cases of bone cancer were diagnosed, among which 2,140 deaths were reported. Moreover, North America is a leading region in medical technology innovation, with numerous research institutes and medical device businesses making significant improvements in limb salvage systems. For instance, Osseointegration International is developing cutting-edge prosthetic implants that fuse directly with bone tissue, restoring natural mobility to amputate limbs.
Asia Pacific limb salvage systems market is expected to show high revenue growth in forecast years due to rising incidences of trauma injuries, diabetic foot ulcers, peripheral artery disease, and cancer-related bone and soft tissue tumors. According to National Center for Biotechnology Information in the Asia-Pacific region, peripheral artery disease prevalence rates varied from 5% in the Philippines to 5.2% in Thailand, 8.2% in Singapore, 10.1% in Australia, and 12.1% in Japan. Additionally, increasing adoption of technologically advanced products and rising healthcare infrastructure are expected to boost the limb salvage systems market revenue growth in the forecast years.
Based on the regions, the global limb salvage systems market is segmented into:
The industry's regional segmentation provides insights into geographic pockets regarding limb salvage systems industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level limb salvage systems market overview.
Key Components of the Report
Limb Salvage Systems Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Limb Salvage Systems Market Strategic Developments
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Limb salvage systems are medical devices and techniques used to save and restore function in a limb on the verge of amputation owing to serious damage, trauma, or infection.
North America will have the largest limb salvage systems market size during the forecast period from 2023 to 2031.
Allo-metal prostheses will have the largest limb salvage systems market size during the forecast period from 2023 to 2031.
Technological advancements in limb salvage systems are the most prominent trend in the limb salvage systems market.
The rising prevalence of limb disorders is a significant growth opportunity in the global limb salvage systems market.
High costs, limited reimbursement policies, lack of awareness, and stringent regulatory requirements are the major restraining factor in the global limb salvage systems market.
Product innovation, strategic partnerships and collaborations, mergers and acquisitions, and expanding their geographical presence are major strategies key market players adopt in the limb salvage systems market.
The rising prevalence of limb disorders and increased adoption of limb salvage systems is the major driver in the global limb salvage systems market.
Zimmer Biomet, Inc., Wright Medical Group N.V., and Hanger, Inc. are the key players in the global limb salvage systems market.
*Insights on financial performance are subject to the availability of information in the public domain