The global prosthetics market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe dominated the global prosthetics market in 2018. Growth of the market in the region can be attributed to increase in demand for dental prosthetics. Additionally, rise in awareness about aesthetics among the people and increase in the edentulous population fuels the growth of the prosthetics market in the region.
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The prosthetics market in Asia Pacific is likely to expand at a higher CAGR from 2019 to 2027. Increase in the geriatric population, rise in prevalence of diabetes & vascular diseases leading to amputation contribute to the rise in demand for orthopedic prosthetics among the population. Additionally, increase in government focus on offering technologically advanced products and rise in medical tourism for dental procedures boost the growth of the prosthetics market in Asia Pacific.
Launch of Innovative Products by Key Players to Propel Global Market
The global prosthetics market is consolidated in terms of number of players. Key players operating in the global prosthetics market include Institut Straumann AG, Danaher Corporation (Nobel Biocare Services AG), Zimmer Biomet Holdings, Inc., Dentsply Sirona, Inc., BioHorizons, Inc., Hanger, Inc., Össur, Ohio Willow Wood Company, Ottobock SE & Co. KGaA, and Blatchford Group (Chas. A. Blatchford & Sons Ltd.).
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These players have adopted various strategies such as product portfolio expansion, investment in research & development, collaborations, and product launches to establish a strong geographic presence. For instance, in March 2017, Ottobock acquired BionX Medical Technologies, Inc., engaged in offering active prosthetic foot and ankle solutions. This acquisition aligns with the company’s previous acquisition of BeBionic hand. These acquisitions strengthened the company’s position in the global orthopedic prosthetics market.
Global Prosthetics Market: Segmentation
- Prosthetics Market, by Product
- Orthopedic Prosthetics
- Upper Extremity
- Shoulder Disarticulation
- Transhumeral
- Elbow Disarticulation
- Transradial
- Wrist Disarticulation & Partial Hand
- Lower Extremity
- Foot Amputation
- Transtibial
- Knee Disarticulation
- Transfemoral
- Hip Disarticulation
- Sockets
- Liners
- Others
- Upper Extremity
- Dental Prosthetics
- Crowns
- Bridges
- Veneers
- Inlays & Onlays
- Dentures
- Partial
- Complete
- Others
- Orthopedic Prosthetics
- Prosthetics Market, by End User
- Hospitals
- Specialty Clinics
- Dental Clinics
- Others
- Prosthetics Market, by Technology
- Cosmetic Prosthetics
- Cable Operated/ Body Powered
- Electrically Powered/ Myoelectric
- Others
- Prosthetics Market, by Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
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