What is the current size and annual growth rate of the orthopedic prosthetics market?
The orthopedic prosthetics market size has grown steadily in recent years. It will grow from $1.92 billion in 2024 to $2.01 billion in 2025 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to aging population, trauma and injuries, chronic conditions, rehabilitation and physical therapy.
The orthopedic prosthetics market size is expected to see strong growth in the next few years. It will grow to $2.56 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to emerging markets growth, personalized prosthetic solutions, regulatory support and reimbursement, value-based healthcare. Major trends in the forecast period include advanced materials, sensor integration, osseointegration, user-centered design.
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Which major factors have contributed to the expansion of the orthopedic prosthetics market?
The orthopedic prosthetics market is being driven by an increasing number of trauma cases and accidental injuries. The trauma cases and accidental injuries are caused by various factors such as road accidents, sports injuries, other medical complications, and work-related accidents. Most of these injuries may require amputations and prosthetic devices to replace the lost body part. For instance, 2.1 million people are living with limb loss in the USA, and that number is expected to double by 2050. 185,000 people in the U.S have an amputation each year. This means that 300 to 500 amputations have been performed every day. Therefore, driving the demand for orthopedic prosthetics, thus growth in the orthopedic prosthetics market.
How is the orthopedic prosthetics market segmented?
The orthopedic prosthetics market covered in this report is segmented –
1) By Product Type: Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, Other Products
2) By Technology: Conventional orthopedic prosthetics, Electric-powered orthopedic prosthetics, Hybrid orthopedic prosthetics
3) By End Users: Hospitals, Prosthetic Clinics, Rehabilitation Center, Other End Users
Subsegments:
1) By Upper Extremity Prosthetics: Prosthetic Arms, Prosthetic Hands, Prosthetic Shoulders
2) By Lower Extremity Prosthetics: Prosthetic Legs, Prosthetic Knees, Prosthetic Feet
3) By Sockets: Transfemoral Sockets, Transtibial Sockets, Below Knee Sockets, Above Knee Sockets
4) By Other Products: Prosthetic Accessories, Prosthetic Linings
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Who are the top competitors in the orthopedic prosthetics market?
Major companies operating in the orthopedic prosthetics market include Otto Bock HealthCare GmbH, Blatchford Ltd., Zimmer Biomet Inc., DePuy Synthes, Stryker Corporation, WillowWood, Smith and Nephew plc, Biomet Inc., Touch Bionics Inc., Fillauer Companies Inc., Advanced Arm Dynamics, Bock Healthcare Gmbh, Medtronic Spine LLC, DJO Global, Integra Lifesciences, NuVasive Inc., Globus Medical, Wright Medical Group Inc., Arthrex Inc., Johnson & Johnson, OrthoPediatrics Corp., WishBone Medical Inc., Hanger Inc., Howard Orthopaedics Inc., Exactech Inc., Ossur hf., B. Braun Melsungen AG, Mobius Bionics LLC, Esper Bionics, ToughWare Prosthetics, Enovis, Argomedical AG, Astrek Innovations Pvt Ltd., Boston Orthotics & Prosthetics, LeTourneau Lifelike Orthotics and Prosthetics Inc., TASKA Prosthetics, Naked Prosthetics, Steeper Inc., medi GmbH & Co. KG, Orthotic & Prosthetic Lab Inc., Trulife Group Limited
Which transformative trends will shape the orthopedic prosthetics market landscape?
The companies in the orthopedic prosthetics market are witnessing the emergence of 3D printed orthopedic prosthetics. 3D printing is a process that involves a digital model being transformed into a three-dimensional solid object. 3D printed orthopedic prosthetics are devices that are manufactured by the process of 3D printing. These devices have shorter lead times, lower costs and consistent quality. For instance, Zdravprint is a Russian company that is developing prosthetics for the hand, elbow, and shoulder using 3D printing technology.
How do regional factors impact the orthopedic prosthetics market, and which region is the largest contributor?
North America was the largest region in the global orthopedic prosthetics market in 2023. Western Europe was the second-largest region in the orthopedic prosthetics market. The regions covered in the orthopedic prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Orthopedic Prosthetics Market Report 2025 Offer?
The orthopedic prosthetics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Orthopedic prosthetics are artificial devices that replace a missing body part that may be lost through trauma, disease, surgical removal of body appendage, disabling illness, or congenital conditions. The purpose of orthopedic prosthetics is to regain function, boost mobility, and improve the overall quality of life for people with limb loss or disabilities.
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