Passive Prosthetics Market | Growing Demand for Passive Prosthetics in the Cosmetics Industry
Physical disability can be very traumatic for a human being. Irrespective of the cause of the disability, it has a deep psychological effect on people’s minds. Since long there have been attempts to recreate the lost limbs or legs. There are two types of passive prosthetics – static and adjustable. In recent years, adjustable passive prosthetics have gained huge popularity among people due to its superior adjustment abilities. Several recognized organizations such as the International Committee of the Red Cross are now actively participating in the production of such passive prosthetics. They are also working in spreading the awareness about the benefits of using these passive prosthetics in developing countries such as Nepal, India, China, and New Zealand among others.
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Global Passive Prosthetics Market – Notable Developments
The technological advancements in recent years have considerably helped the growth of the global passive prosthetics market. Leading companies in the market are launching new products to build better brand value and loyalty. Some of the notable developments in the market are listed below:
- In September 2019, Steeper Inc. announced that the company has added Lindhe Xtend Connect solution to their lower limb prosthetics product range. The company has teamed up with another promising player in the market Lindhe Xtend.
- In June 2015, WillowWood Global LLC, a prominent name in the passive prosthetics market announced that the company has teamed up with the OPIE Choice Network. This new agreement allowed WillowWood Global to be the primary line supplier for the network.
Global Passive Prosthetics Market – Drivers and Restraints
There are several factors that are helping to drive the growth of the global passive prosthetics market. One of the biggest driving factors in the growing number of accidents and mishaps that lead to some form of physical disability. Moreover, the growing demand for such passive prosthetics in the cosmetics industry is also helping to drive the growth of the market.
In recent years, people have become more aware about the treatment techniques and the benefits offered by the passive prosthetics. This has significantly helped in increasing the popularity of the market among the masses. Moreover, the constant developments and advancements in the healthcare sector are also helping the market growth. Both public and private sector investments are helping the passive prosthetics manufacturers to develop new and affordable products that will cater to the wide range of demands across the globe.
Global Passive Prosthetics Market – Geographical Outlook
In terms of regional segmentation, the global passive prosthetics market is divided into five key regions namely Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Currently, the North America market is the leading regional segment. The growth of the market is due to the growing awareness about passive prosthetics among the people. Moreover, the early access to the new technologies and products in the market are also helping the passive prosthetics market grow in the region. Other region such as the Middle East and Africa and Europe are showing steady growth of the market in recent years.
On the other hand, the Asia Pacific region is expected to undergo massive transformation in terms of the growth of the passive prosthetics market. With the growing incidences of physical disabilities due to accidents or mishaps, the region provides ample growth opportunities for the leading players in the market. Moreover, with the developments in the healthcare infrastructure of the emerging nations such as India and China, passive prosthetics market players are sensing lucrative business opportunities.
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Global Passive Prosthetics Market Segmentation
- Prosthetic Foot
- Prosthetic Knee
- Prosthetic Legs
- Prosthetic Hand
- Passive Prosthetic Arm
- Low Cost
- High Cost
- Prosthetic Clinics
- Trauma Centers
- Ambulatory Surgical Centers
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