Availability of Innovative,
customizable, technologically advanced prosthetic legs and their increasing use
will support the growth of prosthetic legs market in near future
In the global Prosthetic
Legs Market, North America holds the largest share followed by Europe as
affordability is not a major issue in these regions. But now companies are
focusing on emerging nations possessing high customer base, and increasing
adaptation of prosthetic legs with growing income and awareness. Manufacturers
are also trying to cut cost of prosthetic, legs which will result in growth of
prosthetic legs market in the near future.
The growth of this market is
supported by innovative devices and their improved material. Also many
companies provide customized prosthetic legs or their components. For example,
UNYQ provides personalized prosthetic covers, which offers advanced
functionality such as IoT connectivity, wherein the prosthetic limb tracks the
daily physical activities of the wearer, which is wirelessly transmitted to a
smartphone via Bluetooth. Based on end user segment, the prosthetic clinics
segment holds the largest market share, followed by hospitals and
rehabilitation centers, respectively.
Artificial devices used to
replace missing limbs lost due to birth defect or amputation are called
prosthetics. Apart from birth defects, various medical conditions such as
circulation problems, traumatic injuries, cancer, and diabetes can lead to
amputation of limbs. The prosthetic leg helps carry out the basic functions of
supporting the body and helps the person with body movement to perform daily
activities.
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Due to the technological
advancements, more comfortable and functional prosthetic legs such as carbon
fiber prosthetics are available in market. These help the wearer perform
otherwise arduous task such as swimming, sky diving, complete triathlons,
marathons, etc.
However, sometimes prosthetic
legs need to be replaced because of reasons such as increase/decrease in body
weight, increase in height—in case of children—incorrect size of socket,
material defects such as cracking, stretching or shrinking of material, and
incompatibility with the body.
According to the Centers for
Disease Control and Prevention (CDC), in 2012, there were around 1.9 million
people in the U.S. without natural limbs. Also, according to the stats released
by Advanced Amputee Solutions, LLC—a medical device company, specializing in
the innovation, research and development of amputee specific devices—major
cause of limb loss is vascular disease, which contributes around 54% in overall
limb loss. Peripheral arterial disease and trauma is the second-leading cause
of limb loss, contributing around 45%, while cancer is the minor cause of limb
loss which contributes only around 1-2% of overall limb loss.
Advanced Amputee Solutions, LLC
study suggests that below knee amputations are more common and accounted around
71% of dysvascular amputations in 2010 and is expected to increase in near
future. Furthermore, globally there are more than 1 million annual limb
amputations performed which is around one every 30 seconds.
Prosthetic Legs Market-
Competitive Landscape
Some of the major players in the
prosthetic legs market are Blatchford Ltd., Ossur, Touch Bionics Inc., Hanger
Inc., Otto Bock HealthCare GmbH, and The Ohio Willow Wood Co.
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Key Development
In March 2019, Unyq Design, Inc.
launched 3D Printed Prosthetic Leg Socket to provide total leg solution for
amputees.
In March 2019, Limb-art launched
new prosthetic leg cover designs at in the NEC in Birmingham.
In July 2019, Össur signed an
agreement to acquire College Park Industries, a global provider of lower and
upper limb prostheses and supporting services. Similarly, in February 2019,
Össur acquired the powered ankle prosthesis technology from SpringActive, Inc.,
a privately held engineering firm that specializes in computer controlled
prosthetic devices.
In June 2019, DW Healthcare
Partners acquired a majority stake in WilloWood, a mount stering Ohio based
designer, manufacturer and distributor of prosthetic products and services.
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