Global Above Knee Prosthetics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Above Knee Prosthetics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The above-knee (AK) is customized for people with AK amputation. The prosthesis consists of sockets, knee joint, shin tube, prosthetic foot & ankle. Sometimes, the prosthesis may consist of sleeves or other straps, depending on the suspension system used for the patient.

Market Overview:

The latest research study on the global Above Knee Prosthetics market finds that the global Above Knee Prosthetics market reached a value of USD 1453.46 million in 2022. It’s expected that the market will achieve USD 2203.36 million by 2028, exhibiting a CAGR of 7.18% during the forecast period.

Influence of COVID-19 Outbreak on Above Knee Prosthetics Industry Development

At the beginning of an outbreak, work is usually delayed and the normal production of the company is affected. For companies in areas where the epidemic is relatively mild and can start operations normally, even if they start operations at normal times, they may face insufficient supply of raw materials, resulting in lower than normal capacity utilization. According to data, the incubation period of the new coronavirus that caused this epidemic is about 7-14 days. In many countries, there are many cases of transmission in long-distance buses, trains, airplanes and other transportation vehicles, and there is a risk of virus transmission caused by long-distance transportation. Therefore, areas with more severe epidemics have taken certain measures to control transportation. This has great impact on the supply side.

In addition, half a year has passed since the Covid-19 outbreak, and the number of confirmed cases is still increasing. It has now exceeded 23,000,000 and there is no clear turning point. As the main market for this industry, the North America has been plagued by the epidemic and the unemployment rate has soared. Out of worries about losing jobs and falling income in the future, many consumers have begun to reduce spending. AK prostheses are not cheap. Consumers may reduce expenditures through other means such as reducing going out and looking for alternatives like crutches. Regardless of the supply side or the demand side, the industry is facing great pressure. So we expect the market growth rate this year will be lower than in previous years.

Drivers of Above Knee Prosthetics

Above-knee amputation (AKA) is a common complication in patients with diabetes. In some cases, diabetes can cause peripheral artery disease (PAD). PAD can narrow the patient's blood vessels and reduce blood flow to the legs and feet. According to WHO data, the number of diabetic patients increased from 108 million in 1980 to 422 million in 2014. IDF, The International Diabetes Federation, also said that approximately 463 million adults (20-79 years old) have diabetes; this number will rise to 700 million by 2045. With the growth of diabetes patients worldwide, the probability of AKA has increased, which has promoted the growth of the industry.
Because of the absence of the knee, a transfemoral amputee must have more energy than a person with two whole legs. The industry uses hydraulic systems, carbon fibers, mechanical connections, electric motors, computer microprocessors, and innovative combinations of these technologies in updated and improved designs to provide users with more control. Over the years, AK prostheses have improved. New plastics and other materials (such as carbon fiber) make artificial limbs stronger and lighter, thereby limiting the additional energy required to operate the limbs. High-strength thermoplastics can tailor models for patients; cutting-edge materials (such as carbon fiber, titanium) provide strength and durability while making new prostheses lighter; more complex prostheses are equipped with advanced electronic equipment can provide additional stability and control. The advancement of technology can better meet the needs of customers, thereby bringing sales growth and promoting the development of the industry.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Ottobock is one of the major players operating in the Above Knee Prosthetics market, holding a share of 39.39% in 2020.

Ottobock is a German prosthetic company based in Duderstadt, Germany. It is responsible for many innovations in prosthetics, including C-Leg, which is a computerized knee joint that can adaptively change its passive resistance to adapt to the patient’s different walking gait; and Michelangelo Hand, which is a complete Articulated manipulator prosthesis.

Ossur Is an Icelandic company that develops, manufactures and sells non-invasive orthopedic equipment, including support and support products, compression therapy and prosthetics. The company is headquartered in Reykjavik, with offices in the Americas, Europe and Asia, and distributors in other markets.

Segmentation Overview:

Among different product types, Lightweight Metals segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Adults segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Above Knee Prosthetics market covered in Chapter 3:

Streifeneder
Fillauer
Blatchford
Ossur
Ottobock
Trulife
Proteor
WillowWood

In Chapter 4 and Chapter 14.2, on the basis of types, the Above Knee Prosthetics market from 2018 to 2029 is primarily split into:

Plastics
Rubber
Lightweight Metals
Composites

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Above Knee Prosthetics market from 2018 to 2029 covers:

Juveniles
Adults

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)