The global market for carbon fibre composites in prosthetics is poised for substantial growth, with a projected valuation of US$ 49.5 million by the close of 2022. These advanced materials play a pivotal role in the field of prosthetics by significantly reducing the weight of artificial limbs, enhancing the comfort and mobility of individuals. Notably, carbon fibre composites offer additional benefits such as resistance to corrosion and non-toxic properties, further contributing to their widespread adoption in the development of prosthetic limbs. As a result, the market is expected to experience a commendable Compound Annual Growth Rate (CAGR) of 3.2%, reaching a remarkable valuation surpassing US$ 61.9 million between the years 2022 and 2028.
The surge in demand for carbon fibre composites for prosthetics underscores the industry’s commitment to innovation and improving the quality of life for amputees. This projected growth reflects the increasing recognition of the unique advantages offered by these materials in prosthetic applications, making them a crucial component in the evolution of the healthcare and assistive technology sectors.
Request a Sample Report and Explore New Growth Opportunities Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-6479
Growing Physical Health Consciousness to Augur Well for the Market
The emphasis on leisure sports, physical fitness, and conditioning, such as aerobics and running is mounting, which has led to increased injuries requiring orthopaedic rehabilitative services and products. These trends are demonstrated by the increasing demand for new prosthetic devices that have heightened strength, corrosion resistance, stiffness, etc., essentially properties that enable amputees to actively participate in fitness and leisure sports.
Children with congenital deformity of limbs are able to join leisure sports as per their choice. Some military amputees in the U.S army have even returned to active duty in war zones such as Afghanistan and Iraq. For instance, in 2007, out of the 600 service members that came back from Iraq or Afghanistan without a leg, arm, hand or foot, almost 31 resumed active duty owing to prosthetics.
Moreover, growing incidences of accidents due to rapid transformation and use of fast moving machinery as well as an increase in road accidents due to rash and drunk driving has augmented the growth of the market. War victims is another demographic that needs orthopaedic prosthetics. It is projected that the majority of amputees are veterans. Mines are responsible for 26,000 amputations per year and have produced 300,000 amputees worldwide. The use of prosthetics has given new opportunities to these people, thereby pushing the market towards growth in return.
Availability of Substitutes to Obstruct Market Revenue Growth
Devices manufactured using 3-D printers need additional testing and quality panels than that for products manufactured using conventional manufacturing techniques in order to comply with regulatory and reimbursement requirements, thereby adding to the cost of the manufactured products. As a result, people are shifting towards substitutes with newer and cheaper materials such as aluminium and stainless steel. This could obstruct the growth trajectory of the global carbon fibre composites for prosthetics market.
Key Companies Profiled
- Ossur
- Hanger Inc.
- Otto Bock HealthCare GmbH
- Blatchford Ltd.
- Touch Bionics Inc.
- The Ohio Willow Wood Co.
- Fillauer LLC.
- Alchemy Composites
- Freedom Innovations LLC.
- Trulife
- Kinetic Research Inc.
- Others
Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights: https://www.futuremarketinsights.com/checkout/6479
Carbon Fibre Composites for Prosthetics Market by Category
By Product:
- Upper Extremity Prosthetics
- Lower Extremity Prosthetics
- Socket
- Modular Components
By Technology:
- Conventional
- Electric Powered
- Hybrid Orthopaedic Prosthetics
By Region:
- North America
- LAMEA
- Europe
- Asia Pacific
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube