What is the Historic and Current Scenario of the Prosthetics & Orthotics Market?
The prosthetics & orthotics market has seen considerable growth due to a variety of factors.
• The market size of prosthetics and orthotics has seen significant growth in the past few years. The industry, which was worth $8.39 billion in 2024, is predicted to rise to $8.87 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.7%.
Factors contributing to the expansion during the historic period include the increasing incidence of disabilities and amputations, advancements in materials and the techniques used to manufacture them, rising awareness and acceptance of prosthetics, development in healthcare infrastructure, and growth in sports and rehabilitation.
What are the Forecasted Growth and Key Factors of the Prosthetics & Orthotics Market?
The prosthetics & orthotics market is expected to maintain its strong growth trajectory in upcoming years.
• In the subsequent years, the prosthetics & orthotics market is projected to witness substantial growth, with its valuation anticipated to reach $11.24 billion in 2029, escalating at a compound annual growth rate (CAGR) of 6.1%.
This growth during the forecast period is ascribed to a host of factors which include the development and application of customized and patient-specific prosthetic solutions, the incorporation of artificial intelligence and robotics in prosthetics, the utilization of sustainable and eco-friendly materials for prosthesis, an increase in the field of pediatric prosthetics and orthotics, and the increased use of telehealth for orthotic services. Moreover, significant trends to watch during the forecast period comprise prosthetics controlled by neurological systems, adherence to regulatory norms in prosthetic safety and standards, technologically advanced prosthetics providing sensory feedback, individualized prosthetic solutions catering to unique needs, and transparent prosthetic pricing and insurance policies.
What Are the Critical Driver Fuelling the Prosthetics & Orthotics Market's Growth?
The prosthetics and orthotics market is significantly influenced by the rise in sports injuries and road accident cases. The majority of road accidents are due to distracted driving and excessive speed, resulting in numerous disabilities for those injured. This necessitates the usage of prosthetics and orthotics to aid recovery and resume regular daily activities. For example, in a 2024 report by the National Highway Traffic Safety Administration, a US government agency dedicated to transportation safety, it was revealed that distracted driving resulted in 3,308 fatalities and approximately 289,310 injuries in 2022. Also, the main contributor to sports injuries is the continual involvement of athletes in a single sport, leading to an increase in injuries. Additionally, according to America's nonprofit safety advocate, the National Security Council, emergency departments treated 3.6 million people for injuries related to sports and recreational equipment in 2022. As such, the growing number of sports injuries and road accidents is predicted to spur demand for prosthetics and orthotics throughout the forecast period.
How Is the Prosthetics & Orthotics Market segmented?
The prosthetics & orthotics market covered in this report is segmented –
1) By Type: Prosthetics, Orthotics
2) By Category: Upper limb, Lower limb, Spinal
3) By Technology: Conventional, Electric-Powered, Hybrid Orthopedic Prosthetics
4) By Application: Hospitals, Clinics, Rehabilitation Centers, Other Applications
Subsegments:
1) By Prosthetics: Lower Limb Prosthetics, Upper Limb Prosthetics, Cosmetic Prosthetics, Hybrid Prosthetics, Pediatric Prosthetics
2) By Orthotics: Ankle-Foot Orthoses (AFO), Knee-Brace Orthoses, Spinal Orthoses, Wrist-Hand Orthoses (WHO), Custom Orthotics
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What New Trends Are Influencing the Prosthetics & Orthotics Market?
The rise of technological advancements is an emerging trend in the prosthetics and orthotics sector. Key players in this market are concentrating on providing cutting-edge products to solidify their market standing. They're incorporating futuristic technologies into their offerings, including automation, AI, microprocessors, neuromuscular signal technology and sensory control, to deliver a more natural and fluid movement functionality. For example, in February 2022, Ossur, a company based in Iceland that specializes in orthotics and prosthetics, launched a product called POWER KNEE. This device, the first of its kind, is an actively powered microprocessor prosthetic knee designed for individuals with limb differences or above-knee amputations. The POWER KNEE creates motion by providing active power assistance, and it is capable of detecting whether the wearer is sitting, standing, or walking on various surfaces, slopes or declines.
Who Are the Key Players in the Prosthetics & Orthotics Market?
Major companies operating in the prosthetics & orthotics market include:
• Fillauer LLC
• Bauerfeind AG
• Otto Bock Healthcare GmbH
• Zimmer Biomet Holdings Inc.
• Blatchford Limited
• Ability Matters Group Ltd.
• Steeper Inc.
• Össur hf
• WillowWood Global LLC
• Ultraflex Systems Inc.
• Hanger Inc.
• Mobius Bionics LLC
• Ohio Willow Wood Co.
• Esper Bionics Inc.
• ToughWare Prosthetics Inc.
• College Park Industries Inc.
• Hosmer Dorrance Corporation
• Kingsley Manufacturing Company
• Mica Manufacturing Company
• Carbon Copy Pathfinder
• Proteor SA
• Seattle Systems Company
• Bhagwan Mahaveer Viklang Sahayata Samiti
• Endolite Ltd.
• Freedom Innovations LLC
• Spinal Technology LLC
• Trulife Group Limited
• Fillauer Europe AB
• Ortho Europe Abingdon Ltd.
What Is The Most Dominant Region In The Prosthetics & Orthotics Market?
North America was the largest region in the prosthetics orthotics market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the prosthetics orthotics market share during the forecast period. The regions covered in the prosthetics & orthotics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
