Orthopedic Prosthetics Market Analysis

Global Orthopedic Prosthetics Market Overview

Orthopedic Prosthetics Market Size was valued at USD 6.2 Billion in 2022. The Orthopedic prosthetics market industry is projected to grow from USD 6.5 Billion in 2023 to USD 10.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2024 - 2032). Increasing incidence of diseases and injuries that lead to amputations and growing demand for aesthetic and functional prosthetics are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Orthopedic Prosthetics Market Trends

• Increasing incidence of diseases and injuries that lead to amputations is driving the market growth

The rapid growth of the orthopedic prosthetics industry has been significantly fueled by the rising prevalence of illnesses and accidents that result in amputations. The landscape of healthcare for people with limb loss has been completely transformed as a result of this development, which has spurred a spike in demand for cutting-edge prosthetic alternatives.

The increasing incidence of chronic conditions like diabetes and vascular disorders is one of the main causes of the increased need for orthopedic prosthesis. These disorders frequently have consequences that impair tissue health and blood flow, necessitating amputations. The incidence of associated amputations has grown in lockstep with the rise in the global prevalence of diabetes, particularly in low- and middle-income nations. Due to patients' desperate need for high-quality prosthetic limbs to regain their mobility and improve their general quality of life, this severe circumstance has driven the orthopedic prosthetics industry forward.

Another important cause is the rise in traumatic injuries, which are linked to urbanization, increasing traffic, and sports involvement. Arms and legs may sustain irreparable damage in severe accidents, workplace disasters, and military warfare, necessitating amputation as a life-saving procedure. People who have gone through such catastrophes are now looking for cutting-edge prosthetic solutions that allow them to not only conduct daily duties but also engage in sports and recreational activities, since there is an increasing emphasis on keeping an active lifestyle. Due to this need, the orthopedic prosthetics market has developed quickly, creating highly sophisticated products that meet the specific requirements and goals of amputees.

The increased need for orthopedic prosthesis has also been fueled by the social and psychological effects of amputation. Amputation patients frequently struggle emotionally as they adjust to their altered bodily states and lose their sense of self-worth and body image. In response, the prosthetics sector has concentrated on developing tools that improve psychological health in addition to restoring physical function. Amputees now have the ability to rebuild their confidence and actively participate in social and professional domains because to the availability of lifelike and adaptable prosthetics. Thus, driving the orthopedic prosthetics market revenue.

Orthopedic Prosthetics Market Segment Insights

Orthopedic prosthetics Product Type Insights

The Orthopedic Prosthetics Market segmentation, based on product type, includes upper extremity prosthetics, lower extremity prosthetics, liners, sockets and modular components. The lower extremity prosthetics segment dominated the market in 2022. Amputations of the lower extremities are frequently caused by diabetes. The demand for lower extremity prosthetics has increased as the prevalence of diabetes continues to rise, particularly in low- and middle-income nations. The foot or lower leg is frequently amputated due to diabetes, and prosthetic devices are essential for patients to restore mobility and independence.

Orthopedic prosthetics Technology Insights

The Orthopedic Prosthetics Market segmentation, based on technology, includes conventional, electric powered and hybrid orthopedic prosthetics. The electric powered category generated the most income in 2022. In comparison to conventional prosthetics, electric-powered prosthetic devices offer greater mobility and usefulness. They include cutting-edge technologies including microprocessors, sensors, and motors that let users walk, run, and carry out a variety of tasks with more ease and accuracy.

Figure 1: Orthopedic Prosthetics Market, by Technology, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Orthopedic prosthetics End User Insights

The Orthopedic Prosthetics Market segmentation, based on end user, includes hospitals, prosthetic clinics, rehabilitation center and others. The hospitals segment dominated the market in 2022. Hospitals are implementing cutting-edge surgical methods that increase the accuracy and success rates of orthopedic procedures, such as minimally invasive surgeries and computer-assisted surgeries. Orthopedic prosthetic devices are frequently used in these procedures to replace joints or correct fractures.

Orthopedic prosthetics Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Orthopedic Prosthetics Market dominated this market in 2022 (45.80%). Despite their differences, the healthcare systems in the region frequently offer extensive health insurance coverage. As a result of this coverage, patients' financial burdens are reduced, making orthopedic prosthetic devices more widely available. Orthopedic prosthesis alternatives are plentiful, and patients can personalize their appliances to suit their unique requirements and lifestyles. Further, the U.S. Orthopedic prosthetics market held the largest market share, and the Canada Orthopedic prosthetics market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: ORTHOPEDIC PROSTHETICS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Orthopedic prosthetics market accounts for the second-largest market share. Strict restrictions provide patients and healthcare professional’s confidence in the security and effectiveness of orthopedic prosthesis. Patients can have confidence that the equipment they receive has passed rigorous testing and is up to par in terms of quality. Further, the German Orthopedic prosthetics market held the largest market share, and the UK Orthopedic prosthetics market was the fastest growing market in the European region.

The Asia-Pacific Orthopedic Prosthetics Market is expected to grow at the fastest CAGR from 2024 to 2032. In the Asia-Pacific area, traumatic injuries brought on by mishaps and workplace occurrences are also common. Orthopedic prosthetic devices are frequently needed for limb replacement or reconstruction following these accidents. As a result, there is still a large demand for prosthetic solutions, especially in nations with significant industrial activity. Moreover, China’s orthopedic prosthetics market held the largest market share, and the Indian Orthopedic prosthetics market was the fastest growing market in the Asia-Pacific region.

Orthopedic prosthetics Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the orthopedic prosthetics market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, orthopedic prosthetics industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global orthopedic prosthetics industry to benefit clients and increase the market sector. In recent years, the orthopedic prosthetics industry has offered some of the most significant advantages to medicine. Major players in the Orthopedic prosthetics market, including Ossur, Hanger Inc., Ottobock, Blatchford Limited, WillowWood Global LLC, Fillauer LLC, Howard Orthopaedics Inc., Aether Biomedical, United Prosthetics, Advanced Arm Dynamic, TASKA Prosthetics, Steeper Inc., BioMetrics Prosthetic and Orthotic CT, Trulife, Open Bionics, SYNERGY PROSTHETICS, Motorica and others, are attempting to increase market demand by investing in research and development operations.

Ossur hf (Ossur), a producer of orthopedic devices. Along with prostheses, it develops, produces, and sells bracing and support systems. Another area of expertise for the company is compression therapy. It provides a large variety of high-end lower limb prosthesis, including knees, feet, and liners, as well as bandages, walkers, compression socks, thighs, and ankle and foot supports. There are manufacturing facilities for it throughout the Americas, Europe, the Middle East and Africa, and Asia-Pacific. In addition to its companies, the corporation distributes its products through a network of distributors. Ossur resides in Reykjavik, Iceland's capital.

Medical equipment is produced by Hanger Inc. (Hanger), formerly known as Hanger Orthopedic Group Inc. In addition to selling orthotic and prosthetic (O&P) products and offering rehabilitation services, the company also provides patient care. Some of its key products include orthotics, footwear, compression clothes, fabric supplies, patient assistance, children's products, and other new items. The business provides clinical services, a supplier advantage program, and an evidence-based clinical program. It provides the post-acute market with therapeutic treatments and distributes branded and private label O&P products, consumables, and components. Hanger manages a network of O&P providers and develops programs to manage all parts of O&P patient care for insurance companies. The business works with payers, patients, providers, and experts in the US. In the US, Austin, Texas, is home to Hanger's corporate headquarters.

Key Companies in the orthopedic prosthetics market include

• Ossur


• Hanger Inc.


• Blatchford Limited


• WillowWood Global LLC


• Fillauer LLC


• Howard Orthopaedics Inc.


• Aether Biomedical


• United Prosthetics


• Advanced Arm Dynamic


• TASKA Prosthetics


• Steeper Inc.


• Ottobock


• BioMetrics Prosthetic and Orthotic CT


• Trulife


• Open Bionics


• SYNERGY PROSTHETICS


• Motorica

Orthopedic Prosthetics Industry Developments

July 2023: With a construction height of little under 5.5 inches and WillowWood's META-Unibody platform, the Fiberglass META Shock X offers a number of fitting possibilities for different limb lengths. Additionally, it contains an integrated shock unit that combines torsional rotation and vertical impact protection on top of the fiberglass plate.

June 2023: The Myo/One Electrode system, created in collaboration with Coapt, was introduced by Fillauer. It is a compact, waterproof solution that eliminates the need for construction aids, sealing rings, cables, and other devices in favor of a cable. It also provides two EMG signal channels for myoelectric devices through a single preamplifier. The system includes two different ways to connect and works with most dual-site myoelectric devices.

May 2023: In collaboration with Coapt, WillowWood unveiled the Alpha Control Liner System, a cutting-edge prosthetic liner with built-in electronics. The approach benefits users of myoelectric prostheses by allowing for more reliable and pleasant electrode contact with the skin, which improves functional control. To comprehend user intentions and manage prosthetic activities, Coapt's Complete Control system uses machine learning.

March 2023: Steeper Group stated that it has merged with the Eqwal Group, with the latter purchasing all of Steeper Group's shares. The Eqwal Group is a multinational provider of prosthetics and orthotics patient care services with its headquarters in Toulouse, France. With this advancement, Steeper Group hopes to improve its healthcare capabilities in the UK and offer cutting-edge goods and services.

January 2023: For its lower limb portfolio, Steeper Group introduced the LIMB-art Prosthetic Leg Covers, which come in distinctive styles and may be customized to boost patients' confidence and self-esteem. The coverings weigh less than 250 g each and come in 4 models: Core, Vent, Ultralight, and Wave. Additionally, they were created utilizing premium Nylon, which gives the final product strength and flexibility.

Orthopedic Prosthetics Market Segmentation

Orthopedic Prosthetics Product Type Outlook

• Upper Extremity Prosthetics


• Lower Extremity Prosthetics


• Liners


• Sockets


• Modular Components

Orthopedic Prosthetics Technology Outlook

• Conventional


• Electric Powered


• Hybrid Orthopedic Prosthetics

Orthopedic Prosthetics End User Outlook

• Hospitals


• Prosthetic Clinics


• Rehabilitation Center


• Others

Orthopedic Prosthetics Regional Outlook

• North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America