This Passive Prosthetics market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Passive Prosthetics market.
Attempts have been made by man to develop passive prosthetics from the beginning time of the loss of organs for cosmetic restoration. A Roman general named Marcus Sergius used a passive prosthetic hand to successfully return into the battle. Passive prosthetics can be of two types, static or adjustable. Nowadays, unlike the static (passive) prosthetics, the adjustable (passive) prosthetics offer more recognition in the market due to its adjustable mechanisms. There are various types of passive prosthetics available in the market to substitute different body parts such as silicon ear, prosthetic foot, prosthetic knee, prosthetic legs, prosthetic hand, passive prosthetic arm etc. However, it is expected as a great choice among the users who do not require specific control or grasp but still seek a cosmetically pleasing body part. Organizations, such as the International Committee of the Red Cross (ICRC), involved in creating passive prosthetic devices for developing countries. Countries such as the US, UK, Australia, India, China, Nepal, and New Zealand are currently engaged in making of low cost passive prosthetic devices for making them attainable for many amputees.
Passive Prosthetics Market: Drivers and Restraints
The absence of body parts/organs due to genetic or physical damage influenced social as well as the psychological state of human life. These conditions drive the demand for passive prosthetic devices particularly in cosmetics around the world. The awareness among the individuals about the appealing look by substituting the missed organs drives the demand for passive prosthetic devices in the developing as well as developed countries. Though, the idea of substituting the organs artificially very appealing, still the passive prosthetic devices suffered a high rejection rate. The advancement of active prosthetic devices and fragile design, insufficient functionality of hardware's resulting little attention of the passive prosthetic devices to the clients. Also, due to the advancement of the active prosthetic devices with several degrees of freedom and advances in robotic technologies expected to hamper the demand for the passive prosthetics.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Passive Prosthetics Market: Overview
The manufacturing of passive prosthetic devices is growing rapidly in last few years. The advancement of technology, availability of durable and high-quality materials and the consciousness among the people gradually increasing the manufacturing of the passive prosthetic devices. However, considering the importance of the passive prosthetic devices in human psychology as well as social life more technological advancement is required to optimize the quality, durability and functionality for high user adoption rate.
Passive Prosthetics Market: Region-wise outlook
The U.S. is expected as the leading market of passive prosthetic products due to a greater degree of awareness and among the people of this region to substitute the physical disability using passive prosthetic devices for their social life. The use of passive prosthetic products is descent in Europe and several Middle East countries. However, the South Asian countries such as India and China, the physical damage and genetic disability rate is high with high population and low awareness among the peoples about the road safety, which is expected to provide huge growth opportunities of passive prosthetic product to the market players.
Passive Prosthetics Market: Key Market Participants
Examples of some of the key market participants operating in the passive prosthetics market are COAPT LLC, Ossur (Ossur Americas), Fillauer LLC (Fillauer Companies, Inc.), Ottobock (Otto Bock Holding GmbH & Co. KG), WillowWood Global LLC, Endolite India Ltd (Prime Group), College Park Industries, Steeper Inc., TRS Inc., comprehensive prosthetics & orthotics USA, Liberating Technologies, Inc.,
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (India, China ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Passive Prosthetics Market: Segmentation
On the basis of product type, passive prosthetics market can be segmented as:
- Prosthetic Foot
- Prosthetic Knee
- Prosthetic Legs
- Prosthetic Hand
- Passive Prosthetic Arm
On the basis of price range, the passive prosthetics market can be segmented as:
- Low Cost
- High Cost
On the basis of end-user the passive prosthetics market can be segmented as:
- Prosthetic Clinics
- Trauma Centers
- Ambulatory Surgical Centers
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
- Extensive database and key dynamics elevating the market with varied verticals associated
- Underlying Passive Prosthetics Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Passive Prosthetics Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the Passive Prosthetics Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)