Carbon Fibre Composites For Prosthetics Market - Forecast(2024 - 2030)

Report Code: CMR 41273 Report Format: PDF + Excel

Carbon Fibre Composites for Prosthetics Market Overview

Carbon Fibre Composites for Prosthetics market size is estimated to reach US$58.6 million by 2027, growing at a CAGR of 3.8%. Prosthetics are the implants that are used to replace a missing body part that may be lost through trauma, disease, and childbirth conditions. Carbon fibre composites consists of high elastic energy and good compression molding features ideal in prosthetics making. Carbon composites combination with epoxy resins provides intact resistance, fatigue resistance and as per Hook’s law act like spring which converts kinetic energy into potential energy, thereby providing motion in limbs. The drivers for carbon fibre composites for the prosthetics market are the growing incidence of vascular diseases and bone cancer, increasing emphasis on health and sports activities and increasing number of road accidents, and more. However, the availability of substitutes like aluminum alloy for lower limb prosthetics can hamper the demand for carbon fibre composites, thereby having a negative impact on the growth of carbon fibre composites for the prosthetics industry.

COVID-19 Impact

To prevent the widespread of COVID-19, the consequential lockdown and restrictions related to people movement implemented by governments in countries led to a decrease in traffic volume, mobility of vehicles. Hence this led to a decrease in road travel and road accidents that caused serious fatal injuries. Moreover, with rising cases of COVID, the number of elective surgeries such as orthopedics surgery consisting of prosthetic usage for missing body parts was reduced. For instance, as per International Transport Forum, the number of road fatalities in Italy decreased by 24.5% in 2020 with daily road crashes showing a decrease of 90% in April, while the UK showed a reduction of 16% in road deaths and crashes. Also, as per the National Road Safety report of France, there was a 21% reduction in road deaths and fatalities in 2020. Moreover, as per Chile’s Department of Death and Statistics, the number of orthopedic surgeries fell by 22.8% during the first year of the pandemic. Hence, such a decrease in road fatalities and orthopedics surgeries led to a decrease in usage of prosthetics for limb construction, thereby having a negative impact on carbon fibre composites for prosthetics market.

Carbon Fibre Composites for Prosthetics Market Report Coverage

The report: “Carbon Fibre Composites for Prosthetics Market – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Carbon Fibre Composites for Prosthetics industry.

By Type – Ultra-high modulus, High Modulus, Intermediate Modulus, High Tensile, Super High Tensile
By Product – Conventional, Hybrid Orthopedic Prosthetics, Electric Powered
By Technology - Fused deposition modelling, Selective laser sintering, 3-D Printing, Solid ground curing, Laminated object Manufacturing, Others
By Application – Lower Extremity Prosthetic (Tranfemoral Prosthetics, Transtibial Prosthetics), Upper Extremity Prosthetics (Tranradial Prosthetic, Transhumeral Prosthetic)
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

Key Takeaways

  • North America dominates the carbon fibre composites for prosthetics market, as the region consists of a major country like the US, which has a high number of annual amputations on account of rising road accidents and diabetes. 
  • Technological advancements such as 3-D printing have made the process of making prosthetics limbs more cost-effective, thereby increasing the affordability of prosthetics in developing countries. 
  • Filament winding provides tangibility and stiffness to carbon fibre composites, while high compression molding ability provides easy customization in these fibers, hence such unique abilities of carbon fibre composites will provide growth opportunities to carbon fibre composites for prosthetics industry.

Figure: North America Carbon Fibre Composites for Prosthetics Market Revenue, 2021-2027

 Carbon Fibre Composites for Prosthetics Market Revenue

For More Details on This Report - Request for Sample

Carbon Fibre Composites for Prosthetic Market Segment – By Type

Standard modulus held a significant share in carbon fibre composites for prosthetics market in 2021. Such carbon fibre composites are the most common and cost-effective fibers. They have high tensile strength, compressive molding ability, and fracture toughness which provides the fibre with the mechanical strength of a natural bone. The increase in the rate of limb amputation on account of growing peripheral arterial disease and diabetic patients will have a positive impact on demand for carbon fibre composite prosthetics. For instance, as per the Federal Statistics Office of Germany, in 2019, Germany recorded 16,400 major and 45,500 minor amputations, with causes like peripheral arterial disease forming 50.7% in major & 35.7% in minor amputation, while diabetes mellitus forming 18.5% in major and 44.2% in minor amputation. Vascular disease and diabetes are the major reason for limb amputation, and the growing rate of such disease-related amputation will create demand for affordable prosthetics, act like natural bone and show resistance to fungal infection. Standard modulus carbon fibre composites are rich in such properties, hence will be put to more use in making prosthetics, which will positively impact the growth of carbon fibre composites for prosthetics industry.

Carbon Fibre Composites for Prosthetic Market Segment – By Technology

3-D printing held a significant share in carbon fibre composites for prosthetics market in 2021. Prosthetics become expensive when they are custom made which makes their production process more costly and slow. This is where 3D printing has proven to be an incredible alternative for producing prosthetics, being an affordable manufacturing technique that can work with many different materials and offer easy customization. The growing volume of road accidents in developing countries will create more demand for 3-D printing-based prosthetics. For instance, as per World Bank, in 2021, India accounted for 11% of road crashes and injuries. Usage of carbon fibre composites in 3-D printing technology will result in lightweight, customizable and cheap prosthetics which are affordable. Hence the high rate of road accidents in developing nations like India will lead to serious limb injuries thereby creating demand for such affordable prosthetics for limb replacements. This will lead to more usage of carbon fibre composites in 3-D printing for making cheap and customizable prosthetics, thereby having a positive impact on demand for carbon fibre composites prosthetics made from 3-D printing. 

Carbon Fibre Composites for Prosthetic Market Segment – By Product

Hybrid orthopedic prosthetics held a significant share in carbon fibre composites for prosthetics market in 2021 and is estimated to grow at a CAGR of 4.6% during the forecast period 2022-2027. These prosthetics significantly improve the functional restoration and rehabilitation of individuals facing limb deficiency. The prosthetics are designed to provide more stability to the wearer and also mimic the natural motion easier than other versions of prosthetics. The growing number of vascular diseases and diabetes which is a major cause of limb amputation has positively impacted the demand for high orthopedic prosthetics. For instance, as per the Centre for Disease Control and Prevention, in 2019, in the US 28.7 million people of all ages or 8.7% of the US population had been diagnosed with diabetes and the median county-level prevalence of diagnosed diabetes increased from 6.3% in 2004 to 8.4% in 2019. Compression molding and filament winding provide stiffness and tangibility to carbon fibre composites, which makes them a significant component of hybrid prosthetics. Hence, with the growing number of diabetic patients, the demand for hybrid prosthetics for limb reconstruction will also increase. Hence, this will have a positive impact on the growth of carbon fibre composites for prosthetics industry.

Carbon Fibre Composites for Prosthetics Market Segment – By Application

Lower extremity prosthetics held a significant share in carbon fibre composites for prosthetics market in 2021, with a share of over 68%. Lower limb amputation is a result of trauma, congenital abnormality, and tumor, but vascular diseases like peripheral artery disease or diabetes form the major reasons. The increasing prevalence of obesity and physical inactivity especially in developing countries has led to an increase in the number of diabetic feet in people. For instance, as per National Health Fund data of the Polish Ministry of Digital Affairs, the number of lower extremity amputations in Poland was 7,759 in 2019 compared to 5,049 in 2010 hence showing an increase of 53.6%. Such an increase in the rate of lower extremity amputation will lead to an increase in demand for lower extremity prosthetics, resulting in more usage of carbon fibre composites for lower limb reconstruction. Hence this will have a positive impact on the demand for carbon fibre composites in prosthetics making, thereby giving a boost to the growth rate of carbon fibre composites for prosthetics industry.

Carbon Fibre Composites for Prosthetics Market Segment – By Geography

North America held the largest share in carbon fibre composites for prosthetics market in 2021, with a share of over 35%. The region consists of countries such as the US and Mexico which are the major consumer of prosthetic limbs both for upper and lower. This is due to reasons like the high rate of fatal road accidents in the countries, a growing number of patients for diabetes and vascular disease, neuropathy, trauma, obesity, physical inactivity, and more. For instance, as per International Transport Forum, in 2020, fatal road accidents increased by 5.1% in the United States while the fatality rate went up by 1.11% compared to 2019, while road fatalities in Mexico increased to 9% for 18yrs to 64yrs age of people in 2019. Moreover, as per the 2020 National Diabetes Statistics Report, 88 million American adults had prediabetes in which 14% were smokers, 90% overweight, and 34% physically inactive, and as per International Health Metrics and Evaluation, in 2019, diabetes held the maximum share of 53.4% for disability of people in Mexico. Carbon fibre composites prosthetics are fatigue resistant and provide natural motion to limbs. The increase in the rate of road accidents and diabetic patients in such countries will lead to more usage of these prosthetics as replacements for damaged limbs mostly legs, thereby expanding carbon fibre composites for the prosthetics industry in the North American region.

Carbon Fibre Composites for Prosthetics Market Drivers

Growing Number of Road Accidents

Road accidents have become the major cause of limb amputation as the vehicle when it crumples on the victim’s limbs either legs or hands cause severe injuries. These injuries lead to mass blood loss, crushing of bones and can also cause gangrene problems in wounds. Hence, with the increase in the rate of reckless driving, and road rage. the number of fatal injuries has also increased. For instance, as per International Transport Forum, in 2020, the number of fatal road accidents increased in Switzerland by 4.6% and in Ireland by 2.1%, while road fatality risk increased in Australia by 4%, in the Netherlands by 12%, and in Great Britain by 3%. Such a growing rate of road accidents will increase the cases of fatal limb injuries, resulting in amputation. Hence this will create more demand for prosthetics to be used as a replacement for amputated limbs, thereby increasing the usage of carbon fibre composites for making prosthetic limbs. This will positively impact the growth of carbon fibre composites for prosthetics market.

Increasing Incidence of Osteosarcoma

Osteosarcoma is a type of bone cancer that begins in the cell that forms bones and is mostly found in long bones that make up arms and legs. To prevent the spread of cancer in other bones, surgical removal of the bone and tissue around the tumor is done. Hence implants or prosthetics are used to replace the part of the limb removed followed by continuous therapies. The growing number of bone cancer patients in major countries will increase the usage of prosthetics as limb replacement. For instance, as per the American Society of Clinical Oncology, in 2021, 3,610 people of which 2,100 were men & boys while 1,510 was women & girls were diagnosed with primary bone cancer with osteosarcoma being found in 56% teens and 28% adults forming major share of primary bonce cancer. Such an increasing rate of osteosarcoma will cause more limb amputation, resulting in more usage of prosthetics as limb replacement. Hence this will have a positive impact on the demand and usage of carbon fibre composites prosthetics since such prosthetics are anti-infective and provide more durability compared to metal-based prosthetics.

Carbon Fibre Composites for Prosthetics Market Challenge

Availability of Substitutes

Carbon fibre composites though they are light weighted, they are not suitable for use in components with sliding and mating surfaces like such as the prosthetic knee. Moreover, the carbon fiber prosthetics developed by technologies like 3-D printing requires additional testing as they run into problems with durability. To overcome such issues, the usage of other materials like aluminum alloy which has high strength weight ratio and corrosion resistance has become a replacement for carbon fibre composites in prosthetic making. The usage of such substitute material for prosthetics making will decrease the demand for carbon fibre composites in prosthetics making, thereby having a negative impact on the growth of carbon fibre composites for prosthetic industry

Carbon Fibre Composites for Prosthetics Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. Carbon Fibre Composites for Prosthetics top 10 companies include:

  1. Otto Bock Healthcare GmBH
  2. Smith & Nephew PLC
  3. Willow Wood Global LLC
  4. Zimmer Biomet Holdings Inc.
  5. Ossur HF
  6. Touch Bionics Inc.
  7. Blatchford Ltd
  8. Freedom Innovation LLC
  9. Kinetic Research Inc.
  10. Fillauer LLC

Recent Developments

  • In 2021, Ossur a global leader in innovative prosthetics and non-invasive orthopedic technologies launched three products in its Cheetah Prosthetics designed especially for amputee athletes participating in activities like distance running & long jumping 
  • In 2019, Stryker acquired Wright Medical, a medical device company focused on Extremities and Biologics. Through this acquisition, the company expanded its business of shoulder and wrist implants 
  • In 2019, Smith & Nephew acquired Brainlab orthopedic joint reconstruction business. Though such acquisition, the company expanded its portfolio in multi-asset digital surgery and robotic ecosystem

Relevant Reports

Carbon Fibre Market - Forecast (2022 - 2027)

Report Code – CMR 0054

Carbon Composites Market - Forecast 2020-2025

Report Code – CMR 96008

Carbon Fiber Reinforced Plastic Market – Forecast (2022 - 2027)

Report Code – CMR 0055

For more Chemicals and Materials Market reports, please click here

1. Carbon Fibre Composites for Prosthetics Market- Market Overview
    1.1 Definitions and Scope
2. Carbon Fibre Composites for Prosthetics Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Product Type
    2.3 Key trends by Technology
    2.4 Key Trend by Application
    2.5 Key Trends by Geography
3. Carbon Fibre Composites for Prosthetics Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Carbon Fibre Composites for Prosthetics Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Carbon Fibre Composites for Prosthetics Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Carbon Fibre Composites for Prosthetics Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Carbon Fibre Composites for Prosthetics Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Carbon Fibre Composites for Prosthetics Market – By Type (Market Size – US$ Million/ Billion)
    8.1 Ultra-high Modulus
    8.2 High Modulus
    8.3 Intermediate Modulus
    8.4 High Tensile
    8.5 Super High Tensile
9. Carbon Fibre Composites for Prosthetics Market – By Product Type (Market Size -US$ Million/Billion)
    9.1 Conventional
    9.2 Hybrid Orthopedic Prosthetics 
    9.3 Electric Powered 
10. Carbon Fibre Composites for Prosthetics Market – By Technology (Market Size - US$ Million/ Billion)
    10.1 Fused Deposition Modelling
    10.2 Selective Laser Sintering
    10.3 3-D Printing
    10.4 Solid ground curing
    10.5 Laminated Object Manufacturing
    10.6 Others
11. Carbon Fibre Composites for Prosthetics Market – By Application (Market Size -US$ Million/Billion)
    11.1 Lower Extremity Prosthetics
        11.1.1 Transfemoral Prosthetic
        11.1.2 Transtibial Prosthetic
    11.2 Upper Extremity Prosthetics
        11.2.1 Transradial Prosthetic
        11.2.2 Transhumeral Prosthetic
12. Carbon Fibre Composites for Prosthetics Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Carbon Fibre Composites for Prosthetics Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Carbon Fibre Composites for Prosthetics Market – Industry/Competition Segment Analysis Premium 
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Carbon Fibre Composites for Prosthetics Market – Key Company List by Country Premium Premium 
16. Carbon Fibre Composites for Prosthetics Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies"
LIST OF TABLES

1.Global Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
1.1 by Product Type, Market 2023-2030 ($M) - Global Industry Research
2.Global Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Technology Market 2023-2030 ($M)
2.1 by Technology, Market 2023-2030 ($M) - Global Industry Research
3.Global Competition Landscape Market 2023-2030 ($M)
4.Global Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Product Type Market 2023-2030 (Volume/Units)
4.1 by Product Type, Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Technology Market 2023-2030 (Volume/Units)
5.1 by Technology, Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Competition Landscape Market 2023-2030 (Volume/Units)
7.North America Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
7.1 by Product Type, Market 2023-2030 ($M) - Regional Industry Research
8.North America Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Technology Market 2023-2030 ($M)
8.1 by Technology, Market 2023-2030 ($M) - Regional Industry Research
9.North America Competition Landscape Market 2023-2030 ($M)
10.South America Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
10.1 by Product Type, Market 2023-2030 ($M) - Regional Industry Research
11.South America Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Technology Market 2023-2030 ($M)
11.1 by Technology, Market 2023-2030 ($M) - Regional Industry Research
12.South America Competition Landscape Market 2023-2030 ($M)
13.Europe Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
13.1 by Product Type, Market 2023-2030 ($M) - Regional Industry Research
14.Europe Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Technology Market 2023-2030 ($M)
14.1 by Technology, Market 2023-2030 ($M) - Regional Industry Research
15.Europe Competition Landscape Market 2023-2030 ($M)
16.APAC Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
16.1 by Product Type, Market 2023-2030 ($M) - Regional Industry Research
17.APAC Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Technology Market 2023-2030 ($M)
17.1 by Technology, Market 2023-2030 ($M) - Regional Industry Research
18.APAC Competition Landscape Market 2023-2030 ($M)
19.MENA Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
19.1 by Product Type, Market 2023-2030 ($M) - Regional Industry Research
20.MENA Carbon Fibre Composites for Prosthetics Market Analysis and Forecast , By Technology Market 2023-2030 ($M)
20.1 by Technology, Market 2023-2030 ($M) - Regional Industry Research
21.MENA Competition Landscape Market 2023-2030 ($M)


LIST OF FIGURES

1.US Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
2.Canada Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
3.Mexico Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
4.Brazil Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
5.Argentina Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
6.Peru Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
7.Colombia Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
8.Chile Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
9.Rest of South America Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
10.UK Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
11.Germany Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
12.France Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
13.Italy Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
14.Spain Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
15.Rest of Europe Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
16.China Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
17.India Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
18.Japan Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
19.South Korea Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
20.South Africa Carbon Fibre Composites For Prosthetics Market Revenue, 2023-2030 ($M)
21.North America Carbon Fibre Composites For Prosthetics By Application
22.South America Carbon Fibre Composites For Prosthetics By Application
23.Europe Carbon Fibre Composites For Prosthetics By Application
24.APAC Carbon Fibre Composites For Prosthetics By Application
25.MENA Carbon Fibre Composites For Prosthetics By Application