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With a handful of effectively-established players that account for crucial market place share, global artificial limbs marketplace is extremely consolidated in nature, states Transparency Market place Study (TMR) in a new report. Technological advances and higher prices of top of the line products are attracting compact players to enter this marketplace. Over the forecast period between 2017 and 2025, the demand in the worldwide marketplace for artificial limbs is expected to translate into a revenue of US$2,869.3 mn by 2025 increasing from US$1,750 mn in 2016. If the figures hold correct, the market place will display a steady 5.7% CAGR more than the forecast period. Technology-sensible, the segment of myoelectric or electrically powered artificial limbs is anticipated to display the leading demand the segment held a substantial 41.7% market share in 2016. Myoelectric artificial limbs are appropriate for a high degree of customization and allow higher number of options for far better grip that are collectively propelling this segment. Some of the crucial companies at present operating in the worldwide artificial limbs market are RSL Steeper Group Ltd., Hanger Inc., Spinal Technology Inc., Optimus Prosthetics, and PROTEOR. This is predicted to lead to intense competition in the industry.

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