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Carbon Fibre Composites For Prosthetics Market - Forecast(2024 - 2030)
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
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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:
- Otto Bock Healthcare GmBH
- Smith & Nephew PLC
- Willow Wood Global LLC
- Zimmer Biomet Holdings Inc.
- Ossur HF
- Touch Bionics Inc.
- Blatchford Ltd
- Freedom Innovation LLC
- Kinetic Research Inc.
- 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)
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Code – CMR 0055
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