Growing Accidents to Propel Demand for Carbon Fibre Composite for Prosthetics

Carbon Fibre Composites for Prosthetics Market

Recently, Future Market Insights has published a new report on global carbon fibre composite for prosthetics market. An Analysts from FMI has fielded several question on the basis of presumptive expansion of global carbon fibre composite for prosthetics market.

Why do you think global market for prosthetic equipment will significantly grow in near future?

According to Amputee Collation, vascular disease is the key cause to limb loss, which further includes peripheral arterial and diabetes disease, cancer and trauma. Approximately, 185 thousand amputations occur in the US each year. The adoption of prosthetics has witnessed steady expansion in recent past. Thriving awareness among individuals combined with increasing disposable income in the US is anticipated to boost the sales of prosthetics. Most of people anguish from foot loss or limb loss owing to vascular disease or on the back of any accidental injury, which will further demand for prosthetic products. In addition, increasing elderly population exhibits further opportunities for orthopaedic prosthetic devices producers. Increasing preference for carbon fibre based prosthetic limb sockets among others is rising with time.

Which trends are fueling growth of global prosthetics market?

Increasing focus on physical fitness, leisure sports and conditioning like running and aerobics is increasing, which causes rise in injuries that further demands for orthopaedic rehabilitative products and services. Such trends are demonstrated by rising demand for new prosthetic devices that have increased strength, corrosion resistance and stiffness, which are the necessary properties that have enabled amputees to actively participate in leisure and fitness sports.

Why do you think North America will soar high in global market?

Maximum number of amputation are occurring in the US are lower extremity prosthetics that is resulting in rise in the consumption of carbon fibre composites for lower extremity prosthetics. People are worried about lower extremity prosthetics device compared to upper extremity prosthetics devices. Almost 65% of amputations are for lower limb according to Amputee Collation statistics. For lower extremity prosthetics, number of manufacturing players are providing more number of carbon fibre composite.

What is primarily obstructing growth of the global market?

In order to comply with reimbursement and regulatory requirements, devices manufactured by the use of 3-D printers require additional quality and testing panels than that of products manufactured by the use of conventional manufacturing technologies, thereby adding cost to manufacturing products. Owing to this fact, individuals are shifting towards substitutes with cheaper and newer materials such as stainless steel and aluminum.

How number of amputees are increasing across the globe?

Increasing number of accidents owing to rapid transformation and application of fast moving machinery and increasing number of road accidents owing to drunk and rash driving has augmented the expansion of the market. However, majority of amputees are veterans. Mines are responsible for 26 thousand amputations per annum and have generated 30 thousand amputees across the globe. Use if prosthetics has provided new opportunity to such type of people, resulting in the growth of the market.

What are the prominent players operating in the global carbon fibre composites for prosthetics market?

Össur, Hanger Inc., The Ohio Willow Wood Co., Otto Bock HealthCare GmbH, and Blatchford Ltd. are considered as prominent players operating in the global market.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6479

About Nikhil Kaitwade 315 Articles
With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.