Future Market Insights (FMI) has introduced a new report on carbon fibre composites for prosthetics. The report has been titled, “Carbon Fibre Composites for Prosthetics Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028.” According to the Amputee Collation, the main causes of limb loss have been vascular diseases (54%) – including diabetes and peripheral arterial disease, trauma (45%), and cancer (less than 2%).

On average, 185,000 amputations occur in the United States every year. The adoption of prosthetics has witnessed steady growth in the last few years. Proliferating awareness among individuals together with swelling disposable income in the United States is expected to result in an increase in demand for prosthetics.

The majority of people agonize from limb or foot loss due to vascular diseases or due to some accident or injury, which is anticipated to further increase the sales of prosthetic products. The rising elderly population represents additional opportunities for orthopedic prosthetic device manufacturers.

The growing preference for carbon fiber-based prosthetic limb sockets among others is mounting with time. The major cause of amputations are diseases related to aging, such as diabetes-related gangrene, peripheral vascular disease, and osteoarthritis. An increase in the number of incidences of accidents is another core factor expected to drive the growth of the U.S. orthopedic prosthetics market.

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Competitive Landscape

The companies operating in the global carbon fibre composites for the prosthetics market are Össur, Hanger Inc., Otto Bock HealthCare GmbH, Blatchford Ltd., and The Ohio Willow Wood Co., among others. According to the report, the global carbon fibre composites for prosthetics market is expected to witness a CAGR of 3.7% from 2018 to 2028. The market is anticipated to rise to a valuation of US$ 61.9 Million by the end of 2028.

Carbon Fibre Composites for Prosthetics Market by Category

By Product:

  • Upper Extremity Prosthetics
  • Lower Extremity Prosthetics
  • Socket
  • Modular Components

By Technology:

  • Conventional
  • Electric Powered
  • Hybrid Orthopaedic Prosthetics

By Region:

  • North America
  • LAMEA
  • Europe
  • Asia Pacific

Availability of Substitutes to Obstruct Market Revenue Growth

Devices manufactured using 3-D printers need additional testing and quality panels than that products manufactured using conventional manufacturing techniques to comply with regulatory and reimbursement requirements, thereby adding to the cost of the manufactured products.

As a result, people are shifting towards substitutes with newer and cheaper materials such as aluminum and stainless steel. This could obstruct the growth trajectory of the global carbon fibre composites for the prosthetics market.