Passive Prosthetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Passive Prosthetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : June, 2020 | Medical Devices | PPT format

Report Digest


Global Passive Prosthetics Market – Overview

Physical disability can be very traumatic for a human being. Irrespective of the cause of the disability, it has a deep psychological effect on people’s minds. Since long there have been attempts to recreate the lost limbs or legs. There are two types of passive prosthetics – static and adjustable. In recent years, adjustable passive prosthetics have gained huge popularity among people due to its superior adjustment abilities. Several recognized organizations such as the International Committee of the Red Cross are now actively participating in the production of such passive prosthetics. They are also working in spreading the awareness about the benefits of using these passive prosthetics in developing countries such as Nepal, India, China, and New Zealand among others.

Global Passive Prosthetics Market – Notable Developments

The technological advancements in recent years have considerably helped the growth of the global passive prosthetics market. Leading companies in the market are launching new products to build better brand value and loyalty. Some of the notable developments in the market are listed below:

  • In September 2019, Steeper Inc. announced that the company has added Lindhe Xtend Connect solution to their lower limb prosthetics product range. The company has teamed up with another promising player in the market Lindhe Xtend.
  • In June 2015, WillowWood Global LLC, a prominent name in the passive prosthetics market announced that the company has teamed up with the OPIE Choice Network. This new agreement allowed WillowWood Global to be the primary line supplier for the network.

Global Passive Prosthetics Market – Drivers and Restraints

There are several factors that are helping to drive the growth of the global passive prosthetics market. One of the biggest driving factors in the growing number of accidents and mishaps that lead to some form of physical disability. Moreover, the growing demand for such passive prosthetics in the cosmetics industry is also helping to drive the growth of the market.

In recent years, people have become more aware about the treatment techniques and the benefits offered by the passive prosthetics. This has significantly helped in increasing the popularity of the market among the masses. Moreover, the constant developments and advancements in the healthcare sector are also helping the market growth. Both public and private sector investments are helping the passive prosthetics manufacturers to develop new and affordable products that will cater to the wide range of demands across the globe.

Global Passive Prosthetics Market – Geographical Outlook

In terms of regional segmentation, the global passive prosthetics market is divided into five key regions namely Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Currently, the North America market is the leading regional segment. The growth of the market is due to the growing awareness about passive prosthetics among the people. Moreover, the early access to the new technologies and products in the market are also helping the passive prosthetics market grow in the region. Other region such as the Middle East and Africa and Europe are showing steady growth of the market in recent years.

On the other hand, the Asia Pacific region is expected to undergo massive transformation in terms of the growth of the passive prosthetics market. With the growing incidences of physical disabilities due to accidents or mishaps, the region provides ample growth opportunities for the leading players in the market. Moreover, with the developments in the healthcare infrastructure of the emerging nations such as India and China, passive prosthetics market players are sensing lucrative business opportunities.

Global Passive Prosthetics Market Segmentation

Product Type

  • Prosthetic Foot
  • Prosthetic Knee
  • Prosthetic Legs
  • Prosthetic Hand
  • Passive Prosthetic Arm
  • Others

Price Range

  • Low Cost
  • High Cost

End User

  • Hospitals
  • Prosthetic Clinics
  • Trauma Centers
  • Ambulatory Surgical Centers

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.