Upper Limb Prosthetics Market Trends

Growth Drivers

• Rising Geriatric Population – The elderly population is more prone to risk of falls and accidents owing to age-related weakness and the rising value of independence among elderly people across the globe is estimated to drive market growth.According to estimates, the number of people over 65 in the world is increasing quickly, and lately, more than 610 million individuals, or roughly 8% of the world's population, are over 65 or older.
• Growing Prevalence of Bone Cancer- The most frequent procedure for an arm bone tumour is limb-sparing or limb-salvage surgery which can lead to upper limb amputations. This may necessitate the use of prosthesis equipment such as upper limb prosthetics as it can aid function after amputation.More than 3% of cancers in children are bone tumors, amongst these Osteosarcoma is the most frequently identified primary malignant bone tumor.

Challenges

• Exorbitant Cost of Upper Limb Prosthetics - Implications for rehabilitation after upper limb amputation, abandonment rates in prosthetic rehabilitation have been demonstrated to reach higher than 40%, owing to which patients prefer other surgical methods for the treatment. As a result, the adoption rate of upper limb prosthetics is impacted.
• Lack of Access to Prosthetic Care in Several Developing Regions
• Lack of Skilled Professionals and Rehabilitation Services