Artificial Limbs Market Report

Several initiatives are being launched by governments around the world to raise awareness about amputation and the use of prostatic limbs. Non-governmental organisations also offer advice and assistance to patients who use prosthesis. For example, the United Amputee Services Association (UASA) is a non-profit organisation committed to helping amputees across the country in enjoying a happy life with dignity and independence. The number of amputations performed worldwide has been steadily increasing. As reported by Access Prosthetic, over 1 million amputations occur globally each year. In the United States, around 185,000 amputations are performed each year. It is anticipated that 3.6 million people in the United States would have had limbs amputated by 2050. In addition, an increasing number of traumatic accidents such as falls, road accidents, other transportation injuries and mechanical stresses are some of the factors driving the growth of the global artificial limb market.

The issue of proper prostheses is significantly more important for children and adolescents, as there are fewer options available. In addition, high production costs for advanced prosthetic devices restrict accessibility, especially in lower-income regions, due to the expensive materials and technology involved. This financial strain is compounded by the need for ongoing maintenance and replacements. Additionally, the shortage of trained professionals for fitting and maintaining prosthetics limits distribution, particularly in rural and underserved areas. Regulatory delays and stringent approval processes also hinder the timely market entry of innovative solutions. Furthermore, according to the WHO, merely 10% of individuals requiring assistive products, such as prostheses and orthoses, have access due to excessive costs, insufficient awareness, and inadequate availability of trained professionals. Additionally, fragmented policy frameworks and limited financial resources further impede market expansion, featuring significant barriers to reaching broader populations and improving accessibility.

Major industry leaders utilize strategies that focus on launching new products, merging with competitors, and purchasing companies to grow their customer base and enhance their range of products. In January 2024, Aether Biomedical forged a partnership with Ukraine's Superhumans Center to provide advanced Zeus Hands prosthetics to wounded Ukrainians. This collaboration highlights the growing demand for innovative prosthetic solutions in conflict zones. The Zeus Hand’s notable features include local repairability and remote configurability, enhancing user support and adaptability. This development underscores the increasing global emphasis on providing tailored, high-tech prosthetic solutions to address the needs of individuals affected by severe injuries and amputation, particularly in regions with limited prosthetic expertise.

However, in March 2024, Nippon Express Holdings, Inc. strategically acquired a stake in Instalimb, a pioneering Japanese start-up revolutionizing the global prosthetics sector. Instalimb, known for its 3D-printed prosthetic limbs, offers cost-effective and rapid solutions, significantly reducing prices and delivery times compared to traditional methods. With operations already established in the Philippines and India, this investment aims to boost Instalimb's expansion into other emerging markets, including Africa. NIPPON EXPRESS’s move aligns with its vision of integrating logistics expertise to address social challenges and foster global accessibility to high-quality prosthetics.

North America has the largest share of the global artificial limbs market. According to the Centres for Disease Control (CDC), around 6.5 million individuals in the United States aged 40 and older have PAD, whereas 11.3% of the country's population has diabetes. This increase in disease incidence is inadvertently leading to an increase in amputation cases, which is fueling market expansion. Furthermore, the Amputee Coalition’s recent study, "Prevalence of Limb Loss and Limb Difference in the United States," reveals over 5.6 million individuals affected by limb loss or limb difference. Specifically, nearly 2.3 million individuals have experienced limb loss, while approximately 3.4 million live with limb difference. Factors such as enhanced healthcare infrastructure, an increase in the number of injuries and accidents, active regional major players and increased awareness of modern prosthetic technologies in the North American region are driving the market.