Availability of Innovative,customizable, technologically advanced prosthetic legs and their increasing usewill support the growth of prosthetic legs market in near future
In the global ProstheticLegs Market, North America holds the largest share followed by Europe asaffordability is not a major issue in these regions. But now companies arefocusing on emerging nations possessing high customer base, and increasingadaptation of prosthetic legs with growing income and awareness. Manufacturersare also trying to cut cost of prosthetic, legs which will result in growth ofprosthetic legs market in the near future.
The growth of this market issupported by innovative devices and their improved material. Also manycompanies provide customized prosthetic legs or their components. For example,UNYQ provides personalized prosthetic covers, which offers advancedfunctionality such as IoT connectivity, wherein the prosthetic limb tracks thedaily physical activities of the wearer, which is wirelessly transmitted to asmartphone via Bluetooth. Based on end user segment, the prosthetic clinicssegment holds the largest market share, followed by hospitals andrehabilitation centers, respectively.
Artificial devices used toreplace missing limbs lost due to birth defect or amputation are calledprosthetics. Apart from birth defects, various medical conditions such ascirculation problems, traumatic injuries, cancer, and diabetes can lead toamputation of limbs. The prosthetic leg helps carry out the basic functions ofsupporting the body and helps the person with body movement to perform dailyactivities.
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Due to the technologicaladvancements, more comfortable and functional prosthetic legs such as carbonfiber prosthetics are available in market. These help the wearer performotherwise arduous task such as swimming, sky diving, complete triathlons,marathons, etc.
However, sometimes prostheticlegs need to be replaced because of reasons such as increase/decrease in bodyweight, increase in height—in case of children—incorrect size of socket,material defects such as cracking, stretching or shrinking of material, andincompatibility with the body.
According to the Centers forDisease Control and Prevention (CDC), in 2012, there were around 1.9 millionpeople in the U.S. without natural limbs. Also, according to the stats releasedby Advanced Amputee Solutions, LLC—a medical device company, specializing inthe innovation, research and development of amputee specific devices—majorcause of limb loss is vascular disease, which contributes around 54% in overalllimb loss. Peripheral arterial disease and trauma is the second-leading causeof limb loss, contributing around 45%, while cancer is the minor cause of limbloss which contributes only around 1-2% of overall limb loss.
Advanced Amputee Solutions, LLCstudy suggests that below knee amputations are more common and accounted around71% of dysvascular amputations in 2010 and is expected to increase in nearfuture. Furthermore, globally there are more than 1 million annual limbamputations performed which is around one every 30 seconds.
Prosthetic Legs Market-Competitive Landscape
Some of the major players in theprosthetic legs market are Blatchford Ltd., Ossur, Touch Bionics Inc., HangerInc., 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 foramputees.
In March 2019, Limb-art launchednew prosthetic leg cover designs at in the NEC in Birmingham.
In July 2019, Össur signed anagreement to acquire College Park Industries, a global provider of lower andupper 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 controlledprosthetic devices.
In June 2019, DW HealthcarePartners acquired a majority stake in WilloWood, a mount stering Ohio baseddesigner, manufacturer and distributor of prosthetic products and services.
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