Trial Prostheses Market Scope
Increasing incidences of trauma cases or accidental injuries are the primary factor responsible for the robust the growth of trial prostheses market over the forecast period. Additionally, the introduction of custom-made implant products and rising demand for advanced orthopedic prosthetics will upsurge the growth of the trial prostheses market. A Trial Prostheses is a tool intended to replace a missing part of the body or to make a part of the bodywork better. An artificial replacement of the jaw bone is called a maxillofacial prosthesis. Moreover, rising healthcare expenditure and the prevalence of lifestyle-related diseases and disorders will also result in the significant growth of the trial prostheses market over the forecast period. In addition, the rising focus of leading manufacturers to collaborate with hospitals and rehabilitation centers will also propel the growth of the trial prostheses market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Ossur (Iceland), Smith & Nephew (United kingdom), Zimmer Biomet (United States), Johnson & Johnson (United States), B. Braun Melsungen (Germany), The Ohio Willow Wood (United States) and Fillauer (United States) |
CAGR | % |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Trial Prostheses market throughout the predicted period.
Ossur (Iceland), Smith & Nephew (United kingdom), Zimmer Biomet (United States), Johnson & Johnson (United States), B. Braun Melsungen (Germany), The Ohio Willow Wood (United States) and Fillauer (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Blackford (United Kingdom) and Otto Bock (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Trial Prostheses market by Type , by Application (Hospitals, Prosthetic Clinics, Rehabilitation Centers and Others) and Region with country level break-up.
On the basis of geography, the market of Trial Prostheses has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In June 2020 Ossur Iceland based company has announced their acquisition with College Park. As part of this transaction, College Park’s Espire Elbow series has been purchased by Steeper Group. The acquisition has completed under the presence of three major parties and the federal trade commission. and In April 2019 Smith & Nephew United Kingdom-based company has acquired Osiris Therapeutics, Inc. The acquisition is expected to accelerate growth from Smith & Nephew’s Advanced Wound Management franchise.
In November 2019 Össur and Alfred Mann Foundation (AMF) planning trials of license the implanted myoelectric sensor (IMES) system in mind-controlled prosthetics. Össur inveterate that "testing and evaluation of the original amputees who received the IMES technology have been ongoing. The company hopes that the new agreement will enable the expansion of clinical trials starting in 2020."
Influencing Trend:
Increased demand for joint replacement surgeries
Market Growth Drivers:
Growing the demand for prosthetics and orthotics products and Increasing incidence of osteosarcoma
Challenges:
Inadequate reimbursement coverage and Long-term wear and inappropriate fit may cause discomfort or physical damage
Restraints:
lack of Knowledge among the people about the tracheostomy care procedures
Opportunities:
Growing healthcare expenditure and the prevalence of life-style related diseases and disorders will also result in the significant growth of the trial prostheses market over the forecast period.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Trial Prostheses Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry