ALBANY, N.Y., April 19, 2021 /PRNewswire/ — The prosthetics market expects to gain a considerable growth-share across the assessment period of 2019-2027 on the back of the rising cases of road accidents and other health-related amputations. The growing inclination of many individuals toward sports activities is also considered as a prominent reason for propelling the growth of the prosthetics market. Sports activities lead to many injuries. These injuries sometimes lead to amputation, which eventually boosts the growth of the prosthetics market.
Prosthetics describe the making and fitting of an artificial body part to replace the one that’s lost. Prosthesis is developed for cosmetic and functional reasons. The benefits attached to the usage of prosthetics bode well for growth. Furthermore, the rising investments in the prosthetics market will serve as a profitable growth factor.
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The Transparency Market Research (TMR) team projects the prosthetics market to expand at a CAGR of ~6 percent during the tenure of 2019-2027. The global prosthetics market was valued at ~US$ 8.9 bn in 2018 and is prognosticated to reach a valuation of ~US$ 15 bn by the end of the forecast period, that is, 2027.
The rising number of diabetics around the globe will serve as a vital growth-contributing factor for the prosthetics market. Vascular diseases and diabetes are…