What Has Been The Evolution of the Limb Prosthetics Market in Recent Years?
The limb prosthetics market has seen considerable growth due to a variety of factors.
• In recent times, the limb prosthetics market has seen significant expansion. The market size is projected to escalate from $1.64 billion in 2024 to $1.78 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%.
The remarkable growth during the historical period is credited to heightened awareness of prosthetic choices, enhanced healthcare service accessibility, advancements in surgical methods and rehab practices, the adoption of carbon fiber and a heightened emphasis on quality of life.
What Are the Future Growth Projections for the Limb Prosthetics Market?
The limb prosthetics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for limb prosthetics is projected to experience robust growth in the coming years, reaching $2.38 billion by 2029 with a compound annual growth rate (CAGR) of 7.6%.
The factors contributing to this anticipated growth span increasing trauma cases, government aid, enhancement in medical tourism, support from insurance companies, the evolution of healthcare infrastructures, and advancements in bionic and neural prosthetics. Key trends expected during this forecast period encompasses improved control and functionality, progression in materials and manufacturing processes, ensuring affordability and access, integrating regenerative medicine and biotechnology, and maintaining focus on user-oriented design and experience.
What Are The Core Factors Supporting Growth In The Limb Prosthetics Market?
The growth of the limb prosthetics industry is set to surge in response to a growing number of road accidents. This escalation in accidents is largely due to an upsurge in vehicle traffic, distracted driving, speeding, and subpar road conditions. Limb prosthetics cater immensely to survivors of road mishaps through the provision of functional substitutes for lost or critically injured limbs, thereby augmenting their mobility and elevating their quality of life by employing cutting-edge technology and personal customization. For example, Brake, a UK Charity focused on road safety, reported in October 2023 that road accidents resulted in 1,766 deaths and 28,941 serious injuries in 2022, marking a 10% rise in fatalities in comparison to 2021. Consequently, the increasing rate of accidents is fuelling the expansion of the limb prosthetics market.
What Are The Major Segments Within The Global Limb Prosthetics Market?
The limb prostheticsmarket covered in this report is segmented –
1) By Type: Lower Limb Prosthetics, Upper Limb Prosthetics
2) By Component: Socket, Appendage, Joint, Connecting Module, Other Components
3) By Technology: Conventional Prosthetic Devices, Electric Prosthetic Devices, Hybrid Prosthetic Devices
4) By End-User: Orthotics And Prosthetics (O&P) Clinics, Orthopedic Clinics, Other End-Users
Subsegments:
1) By Lower Limb Prosthetics: Below Knee Prosthetics (BK), Above Knee Prosthetics (AK), Transfemoral Prosthetics, Transtibial Prosthetics, Knee and Ankle Prosthetics, Prosthetic Feet
2) By Upper Limb Prosthetics: Transradial Prosthetics, Transhumeral Prosthetics, Partial Hand Prosthetics, Myoelectric Prosthetics, Body-Powered Prosthetics, Prosthetic Hands
Pre-Book The Limb Prosthetics Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Limb Prosthetics Industry?
The prime players in the limb prosthetics market are putting their efforts into the creation of actively powered microprocessor prosthetic knees, a move designed to provide more bespoke and intuitive prosthetic options. These advanced prosthetic knees employ sensors and microprocessors to intelligently adapt resistance and movement achieving a refined gait and stability. As an illustration, Össur hf, a firm from Iceland that specializes in non-invasive orthopedics, introduced the Power Knee to the market in February 2022. This is the first actively powered microprocessor prosthetic knee on the planet, crafted to boost mobility and autonomy for those who have undergone above-knee amputations or have limb differences. The Power Knee uses innovative algorithms to identify human movement patterns and dynamically learns and adjusts to the wearer's velocity, offering active powered assistance in diverse surfaces, inclines, declines, stairs, and ramps situations. This leads to more balanced motion, conserves energy for the wearer, and lets users undertake activities that conventional prosthetics would have found demanding or unachievable.
Who Are the Key Players In The Limb Prosthetics Market?
Major companies operating in the limb prosthetics market are:
• Össur Kristinsson
• Ottobock SE & Co. KGaA
• Hanger Inc.
• Kare Enterprise Private Limited
• Blatchford Limited
• Endolite India Ltd.
• Trulife India Private Limited
• Steeper Inc.
• Uniprox GmbH & Co. KG
• College Park Industries
• Fillauer LLC
• Freedom Innovations LLC
• Silipos Holding LLC
• ST&G Corporation
• WillowWood Global LLC
• Ortho Europe Ltd.
• ALVI Labs
• BioGrip GmbH
• Toughware Prosthetics
• ALIMCO (Artificial Limbs Manufacturing Corporation of India)
• Streifeneder USA
What Is The Most Dominant Region In The Limb Prosthetics Market?
North America was the largest region in the limb prosthetics market in 2024. The regions covered in the limb prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
