Global Prosthetics Market Overview
A primary driver for growth of the Global Prosthetics Market is the increasing number of diabetes patients in the children and geriatric population. Prosthetics Market will grow exponentially owing to the rise of amputation surgeries worldwide along with decrease in operational cost.
According to WHO, between 20 to 50 million people worldwide suffer non-fatal road injuries, which causes a disability in their bodies. The Amputee Coalition, a U.S. nonprofit organization estimates that, as of 2017, more than 2 million Americans are living with the loss of a limb. Every year, vascular diseases (induced by diabetes or peripheral artery diseases), cancer, or traumatic injuries are the cause of approximately 185,000 amputations are performed in the United States alone. Of these, traumatic injuries is a growing concern not just because of their prevalence (45% of all amputations are due to traumatic injuries) but also because they happen without warning. The rising number of accidents are likely to give rise to a number of situations where an injury is beyond the body's ability to heal it, resulting in the body part's amputation. This leads to a further growth of the Prosthetics market.