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The following news article was produced in a partnership between Ukraine Rebuild Newswire and top 10 global law firm CMS. Much of the article is based on CMS' "Prosthetics Market in Ukraine" report, available here.
Some 60,000 Ukrainians have lost limbs in three years of war, and the prosthetics market in the country is bustling to meet the demand, with new technologies, increased state support, foreign investment and effective advocacy arising to ease the immense tragedy.
Dozens of manufacturers are now active in the Ukrainian market, including foreign companies such as market leader Ottobock and the UK's Blatchford, along with local firms such as Esper Bionics, as the government and private sector both push to ease the human suffering inflicted by Russian missiles, drones, landmines and other explosives.
And the market is set to grow further, by value if not by number of amputees, as the country adopts more advanced prosthetics such as electric and bionic limbs, and the government, backed by allies abroad, seeks to raise the level of care for severely injured veterans, according to a 26-page market report by CMS, a global top 10 law firm."Unfortunately, the Ukrainian market has grown from an unremarkable size in 2021 to become one of the main markets in Europe," said Borys Danevych, the Kyiv-based head of Life Sciences and Healthcare for Central and Eastern Europe at CMS. "The bright side is that prosthetics are getting better in quality, the government is greatly expanding support for the market, and foreign players are bringing that latest technology for wounded veterans."
Now, medical schools in Ukraine have launched courses for prosthetics specialists, prosthetics manufacturers can benefit from tax incentives, and the government has made it easier for amputees to receive state aid to acquire high-functionality devices. All Ukrainians, civilian and military, are now eligible for reimbursed prosthetic care, even if the issue didn't stem from the war.
Several foreign manufacturers are now active in the Ukrainian prosthetics market, including Alps, Fillauer, Toughware and TRS Prosthetics from the US, Ottobock, Wagner and Streifeneder from Germany, Blatchford and Steeper from the UK, and more.
Besides opportunities for manufacturers of prosthetics devices, the CMS report on the Ukrainian market notes opportunities for companies that maintain prosthetics as well as those that work in rehabilitation.
It also outlines the procedures for domestic standard prosthetic care providers to qualify for reimbursements, the process of the actual reimbursement and includes a table of reimbursement tariffs, with reimbursement of as much as €19,200 in a particular type of case.
The report doesn't offer a breakdown of the total number of amputees in Ukraine, but it distributes the estimate of 60,000 war-related amputees to "governmental and market sources."
The tragedy of the war has also had the effect of spotlighting local Ukrainian manufacturers, such as Esper Bionics, which was praised in Time Magazine's "Best Inventions of 2022" edition for its AI-powered robotic hand.
It also cast the limelight on medical services such as the Superhumans Center, an orthopedic specialist clinic that regularly hosts visiting dignitaries such as Prince Harry and has received a grant of more than $16 million from the Howard G. Buffet Foundation, a charity founded by the son of billionaire investor Warren Buffet.
The Superhumans Center, served by pro-bono support from CMS, also received $25 million in political risk insurance from the US International Development Finance Corporation (DFC).
"With this support, Superhumans increases its credibility in the view of large international donors," CMS writes in its market report. "It will be able to expand to other regions and provide free prosthetics, rehabilitation, reconstructive surgery, and psychological support to more Ukrainians injured in the war, as well as invest in research and development, attracting professionals from countries around the world to support the centre’s advancements."
For further details, contact CMS at: borys.danevych@cms-cmno.com
