According to the research report titled ‘Global Prosthetics Market - Analysis By Technology (Bionic Limb, Mechanical Limb), End-User, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with MarketStudyReport, global prosthetics market was valued at USD 1,281.39 million in the year 2019 and is anticipated to develop at 4.7% CAGR during the forecast timespan of 2020-2025.
 

Increasing adoption of prosthetics and their declining costs, along with rising prevalence of diabetes among children and the elderly are primarily driving the global prosthetics market growth. Moreover, significant rise in ergonomics in prosthesis products will have a favorable impact on demand and consumer health in the forthcoming years.
 

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The market, on the basis of end users, is fragmented into prosthetic clinics, hospital, and others. Among these, prosthetic clinics experienced substantial demand from all over the world in 2019 owing to investments and acquisitions of prosthetic clinics by firms.
 

In terms of technology, the industry is split into mechanical limb and bionic limb. Mechanical limbs segment is expected to hold the largest market share in the ensuing years, due to rising incidence of diabetes among the elderly and their ineligibility for bionic limbs. Meanwhile, bionic limbs segment will bolster rapidly, however, rising prices might hinder its segmental growth.
 

From a regional perspective, as per report, worldwide prosthetics industry size spans across North America (U.S., Canada), Europe (UK, Germany, Italy, France), and Asia Pacific (China, Japan, India, South Korea). For each of these geographies, key factors such as consumption value and volume, as well as growth rate during the predicted period are examined extensively.
 

Considering the competitive landscape, Proteor S.A., Streifender GmbH, Zimmer Biomet Holdings Inc., Daw industries Inc., Otto Bock SE & Co. KGaA, Össur hf, Fillauer LLC, WillowWood Group, Freedom Innovation, and Chas A Blatchford & Sons are the major contributors to the industry. Their financials and strategies are discussed at length to aid other businesses in making informed decisions over the next five years.