The North America Upper Limb Prosthetics Market would witness market growth of 5.3% CAGR during the forecast period (2023-2030).
The rapid progression of technology has been a key driver in the adoption of upper limb prosthetics. Modern prosthetic limbs have advanced features, including myoelectric sensors, artificial intelligence algorithms, and sensory feedback systems. These technological enhancements result in prosthetic devices that closely mimic human limbs' natural movements and agility, providing users with a more intuitive and responsive experience. As technology evolves, prosthetic devices become increasingly sophisticated, appealing, and functional, increasing adoption rates.
The integration of 3D printing technology allows for highly customized prosthetic designs, ensuring a better fit and addressing users' individual needs and preferences. Improved comfort and customization increase user satisfaction, making individuals more likely to adopt and integrate prosthetic limbs into their daily lives. Increased awareness about the capabilities of modern prosthetics plays a crucial role in driving adoption. Educational campaigns, outreach programs, and advancements in media coverage have contributed to a better understanding of the benefits of these prosthetics.
In Mexico, the adoption of 3D printing technology allows for creating customized and lightweight prosthetic limbs tailored to the individual's anatomy and preferences. According to the Canadian Institute for Health Information, Canada's senior population of those 65 and older will expand by 68% over the next 20 years. It has more than tripled in size in the last 40 years. In 2017, it was around 6.2 million. It is anticipated to reach 10.4 million in 2037. Seniors are increasingly focused on maintaining and enhancing their quality of life. These contribute to improved quality of life by enabling individuals to perform essential daily tasks and engage in meaningful activities. Therefore, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Upper Limb Prosthetics Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $319.5 Million by 2030. The Canada market is experiencing a CAGR of 7.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.7% during (2023 - 2030).
Free Valuable Insights: The Upper Limb Prosthetics Market is Predict to reach $1.1 Billion by 2030, at a CAGR of 5.9%
Based on Product Type, the market is segmented into Passive Prosthetic Devices, Body Powered Prosthetic Devices, Myoelectric Prosthetic Devices, and Hybrid Prosthetic Devices. Based on Component, the market is segmented into Prosthetic Arm, Prosthetic Elbow, Prosthetic Wrist, Prosthetic Shoulder, and Others. Based on End-user, the market is segmented into Clinics, Hospitals, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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