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Prosthetics market will grow exponentially with rise in acceptance of prosthetics procedures and decline in the prices

Publish Date: January 2021

The Global Prosthetic Market is projected to display significant growth represented by a CAGR of 4.7% during 2020 - 2025. The Global Prosthetic Market was valued at USD 1281.39 million in the year 2019 with North America leading the regional market share.

The Prosthetic market is expected to grow on the back of the increased incidence of diabetes among children and the geriatric population. The Prosthetics market will grow exponentially with rising in acceptance of prosthetics procedures and a decline in the prices of the procedures. A considerable increase of ergonomics in prosthetics products will leave a positive impact on their demand and the health of consumers.

Asia Pacific region holds great potential in the Prosthetics Devices market owing to the presence of a vast consumer base, improvement in healthcare infrastructure, and rapid economic development. The rapid economic growth in the Asia Pacific Region has led to change in lifestyle and change in dietary habits, which has led to the rise in the prevalence of diabetic foot ulcers in the region. Thus. a rise in the amputation of limbs has recorded in the last few decades. Mechanical Limbs are expected to hold the largest market share with growing incidences of diabetes among the older population and their ineligibility for bionic limbs.  

The Azoth Analytics research report titled Global Prosthetics Market Analysis By Technology (Bionic Limb, Mechanical Limb), End-User, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025) has analyzed and segmented the Prosthetics Market by Value (USD million). The report has also analyzed the Prosthetics Market By Technology (Bionic Limb, Mechanical Limb), By End User (Hospital, Prosthetics Clinic, Others), and By Application (Lower Limb and Upper Limb). The Global Prosthetics Market has been analyzed By Region (North America, Europe, Asia Pacific) and By Country (United States, Canada, Germany, France, Italy, United Kingdom, China, Japan, India, South Korea) for the historical period of 2015-2019 and the forecast period of 2020-2025.

 

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