Prosthetic Foot Comprehensive Study by
Market Snapshot:
According to the Association for Safe International Road Travel (ASIRT), approximately 20-50 million people are injured or disabled owing to road accidents. Road traffic accidents account for the 9th leading cause of deaths worldwide For instance, according to Stanford Children’s Health, more than 3.5 million injuries are reported every year among children. Prosthesis is an artificial device that replaces a missing body part such as foot, which may be lost through trauma, injuries, disease, or congenital conditions. Prosthetic foot are intended to restore the normal functions of the foot. Increasing number of road accidents coupled with rapid product improvement in prosthetic foot devices is fostering the market growth of prosthetic foot.
Highlights from Prosthetic Foot Market Study
AttributesDetailsStudy Period2018-2030Base Year2023UnitValue (USD Million)
The key Players profiled in the report are College Park (United States), Roadrunnerfoot Engineering (Italy), Proteor (France), Freedom Innovations (United States), ?ssur (Iceland) and Ottobock (Germany). Additionally, other players that are part of this comprehensive study are Fillauer (United States) and Protunix (France).
Geographic Breakdown and Segment Analysis
The Global Prosthetic Foot market presents a comprehensive analysis of the Prosthetic Foot market by product type (Mechanical Foot and Microprocessor Foot), by end-user/application (Juveniles and Adults), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Prosthetic Foot industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.For instance, while theholds majority of market share of the Prosthetic Foot marketAnalyst at AMA have segmented the market study of Global Prosthetic Foot market by Type, Application and Region.
Influencing Trend:
Rising Demand for Orthopedic Prosthetics Globally and Alarming Rise in Road Accidents
Market Growth Drivers:
Increasing Demand for Joint Replacement Surgeries, Growing Geriatric & Obese Population and High Number of Participants Involved in Sports & Recreational Activities Leading to Accidents and Requiring Prosthetic Foot
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Challenges:
Inadequate Reimbursement Coverage Policies and Dearth of Skilled Professional & Specialists is posing a Challenge for the Market
Restraints:
High Cost of Prosthetic Foot and Lack of Proper Healthcare Infrastructure in Emerging Economies
Opportunities:
Increasing Spending in Healthcare Infrastructure & Medical Devices
Market Developments Activities:
In December 2020, Proteor a Dijon, France-based, international group specialized in prosthetic and orthotic solutions has successfully completed its acquisition of Freedom Innovations and the major part of the product portfolio from Ottobock.In March 2019, Stanford University mechanical engineers have developed a more stable prosthetic leg. The new design is a kind of tripod foot that responds to rough terrain by actively shifting pressure between three different contact points.The Global prosthetic foot market is fragmented with several market players who are competing with each other based on new and improved product launch with strategic collaborations. For instance, Empower is the only active prosthetic foot available on the market. Integrated sensors and microprocessors control the required propulsion, movement resistance and range of motion for every step the user takes. The Empower mimics the original functions of the muscles and tendons and gives leg amputees a nearly natural gait pattern.
Key Target Audience
Prosthetic Foot Manufacturers, Healthcare Industry, Potential Investors, Industry Associations, Marketing and Consulting firms, Government and Regulatory Bodies and Others
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