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Global Orthopedic Prosthetics Market Size, Trends, Report: By Product: Upper Extremity Prosthetics, Lower Extremity Prosthetics, Liners, Sockets, Other Products; By Technology: Conventional Electric-powered, Hybrid Orthopedic Prosthetics; By End User: Hospitals, Prosthetic Clinics, Others; Regional Analysis; Supplier Landscape: 2024-2032
Global Orthopedic Prosthetics Market Outlook
The global orthopedic prosthetics market size was valued at USD 2.2 billion in 2023, driven by the increasing trauma cases and accidental injuries. The market size is anticipated to grow at a CAGR of 6.57% during the forecast period of 2024-2032 to achieve a value of USD 4.2 billion by 2032.
Orthopedic Prosthetics: Introduction
Orthopedic prostheses are medical devices that can replace missing or damaged bones and joints, restoring mobility and functionality for individuals with musculoskeletal injuries or conditions. Designing orthopedic prostheses involves creating durable, functional, and flexible medical devices that are affordable and accessible to individuals with different requirements. The goal of orthopedic prosthesis design is to ensure that these devices are suitable for a wide range of applications. Recent advancements in orthopedic prosthesis design have significantly improved the quality of life for people with orthopedic disabilities.
Global Orthopedic Prosthetics Market Analysis
The market growth is driven by the increased adoption of advanced technologies such as 3D printing to produce custom prosthetics. For example, a startup company, LIMBER Prosthetics & Orthotics, Inc. creates prosthetics by 3D printing. Such innovative approaches are responsible for the growth of the market in the forecast period as they are less time-consuming and more cost-effective.
Moreover, the market is driven by the acquisition activities between key players to provide better solutions to the patients exemplified by the acquisition of Italian surgical implant manufacturer LimaCorporate by Enovis Corp, which offers orthopedic bracing, surgical implants, and footcare solutions, for a whopping amount of 800 million euros ($850 million), including debt. Such acquisition events aid the enhancement of the reconstructive business of Enovis Corp, and contribute to the orthopedic prosthetics market share.
Additionally, the market growth can be collectively attributed to the ongoing collaboration between key players. For example, the Massachusetts Institute of Technology’s K. Lisa Yang Center for Bionics entered a collaboration with the government of Sierra Leone to strengthen the capabilities and services nation’s orthotic and prosthetic (O&P) sector. This collaboration is expected to drive the orthopedic prosthetics market growth as it will help in demographic expansion. Due to limited access to orthotic braces and artificial limbs, this collaboration is expected to fill a crucial gap of unmet needs in the market while experiencing an increased demand.
Global Orthopedic Prosthetics Market Segmentations
Market Breakup by Product
- Upper Extremity Prosthetics
- Lower Extremity Prosthetics
- Liners
- Sockets
- Other Products
Market Breakup by Technology
- Conventional Electric-powered
- Hybrid Orthopedic Prosthetics
Market Breakup by End User
- Hospitals
- Prosthetic Clinics
- Rehabilitation Centers
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Orthopedic Prosthetics Market Overview
The market is driven by the increasing number of trauma cases and accidental injuries worldwide. The increased adoption of technological advancements and the development of advanced orthopedic prosthetics are among the major factors responsible for the market growth in the forecast period. The market is further driven by the rising burden of osteosarcoma. The increasing efforts of med-tech companies and new startups toward developing new, cost-effective alternates and innovative prosthetics and launching them are collectively contributing to the global orthopedic prosthetics market demand.
Geographically, North America is dominating the market growth due to the technological advancements in the region. Factors driving the market growth include the presence of key players, coupled with a robust distribution network and a well-established healthcare infrastructure. The increasing interest in adventure activities and meeting an accident during the activity is playing a crucial role in the growth of the market.
Global Orthopedic Prosthetics Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Blatchford Limited
- Fillauer LLC
- Willow Wood Global LLC
- Steeper Inc.
- Mobius Bionics
- Synergy Prosthetics
- Human Technology Inc.
- United Prosthetics Inc.
- Coapt LLC
- Protunix
- Ossur
- Ottobock Inc.
- DGO Global Inc.
- Globus Medical
- Integra Lifesciences
Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Technology |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Orthopedic Prosthetics Market Overview
3.1 Global Orthopedic Prosthetics Market Historical Value (2017-2023)
3.2 Global Orthopedic Prosthetics Market Forecast Value (2024-2032)
4 Global Orthopedic Prosthetics Market Landscape
4.1 Global Orthopedic Prosthetics Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Orthopedic Prosthetics Product Landscape
4.2.1 Analysis by Product
4.2.2 Analysis by Technology
5 Global Orthopedic Prosthetics Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Orthopedic Prosthetics Market Segmentation
6.1 Global Orthopedic Prosthetics Market by Product
6.1.1 Market Overview
6.1.2 Upper Extremity Prosthetics
6.1.3 Lower Extremity Prosthetics
6.1.4 Liners
6.1.5 Sockets
6.1.6 Other Products
6.2 Global Orthopedic Prosthetics Market by Technology
6.2.1 Market Overview
6.2.2 Conventional Electric-powered
6.2.3 Hybrid Orthopedic Prosthetics
6.3 Global Orthopedic Prosthetics Market by End User
6.3.1 Market Overview
6.3.2 Hospitals
6.3.3 Prosthetic Clinics
6.3.4 Rehabilitation Centers
6.3.5 Others
6.4 Global Orthopedic Prosthetics Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Orthopedic Prosthetics Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Orthopedic Prosthetics Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Orthopedic Prosthetics Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Orthopedic Prosthetics Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Orthopedic Prosthetics Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Blatchford Limited
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Fillauer LLC
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Willow Wood Global LLC
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Steeper Inc.
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Mobius Bionics
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Synergy Prosthetics
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Human Technology Inc.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 United Prosthetics Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Coapt LLC
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Protunix
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Ossur
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Ottobock Inc.
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 DGO Global Inc.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Globus Medical
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 Integra Lifesciences
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
18 Global Orthopedic Prosthetics Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 2.2 billion in 2023, driven by increasing number of accidents.
The market is anticipated to grow at a CAGR of 6.57% during the forecast period of 2024-2032 and is likely to reach a market value of USD 4.2 billion by 2032.
Increasing awareness and technological advancement of the benefits of orthopedic prosthetics are among the major factors driving the market growth.
The companies trying to develop cost-effective and innovative orthopedic prosthetics is a major trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
The market includes upper extremity prosthetics, lower extremity prosthetics, liners, and sockets, among other products.
There are two types of technologies in the market, conventional electric-powered and hybrid orthopedic prosthetics.
End users in the market include hospitals, prosthetic clinics, rehabilitation centers, and others.
Key players involved in the market are Blatchford Limited, Fillauer LLC, Willow Wood Global LLC, Steeper Inc., Mobius Bionics, Synergy Prosthetics, Human Technology Inc., United Prosthetics Inc., Coapt LLC, Protunix, Ossur, Ottobock Inc., DGO Global Inc., Globus Medical, and Integra Lifesciences.
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