#Artificial #Limbs #Market #Report
Pune, Oct. 10, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled, “Artificial Limbs Market by Product Type (Lower Extremity, Upper Extremity Accessories), by Technology (Electrically Powered/Myoelectric, Cosmetic Prosthetics, and Cable Operated), and by End-User (Hospitals, Prosthetic Clinics Rehabilitation Centers, and Prosthetic Clinics) – Global Outlook & Forecast 2022-2030″ published by Growth Plus Reports, the Artificial Limbs market is expected to grow at a CAGR of 4.1% from 2021 to reach US$ 9.30 billion by 2030. Owing to the rising prevalence of vascular diseases, traumatic accidents, and the availability of technologically advanced products coupled with intense research and development.
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Market Driver
Governments worldwide are taking several initiatives to generate awareness regarding amputation and the use of prostatic limbs. Non-government organizations are also providing guidance and aid to patients with prosthetics. For instance, in the U.S., organizations like the Amputee Coalition and AMPOWER provide trained mentors who guide patients with new technologies in artificial limbs. There has been a consistent increase in the number of amputations occurring worldwide. According to Amputee Coalition of America, more than 1 million amputations occur annually globally, representing around 1 in every 30 seconds. Approximately 185,000 amputations take place in the U.S. per year. It is estimated that by 2050 a staggering 3.6 million people in the U.S. will be coping with amputations of limbs. Moreover, the adoption of advanced technologies such as integration with robotics, bionics, and AI. Additionally, the rising incidence of traumatic accidents such as falls, road injuries, other transportation injuries, and mechanical forces are some factors fueling the growth of the global artificial limb market.
