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Global Prosthetics and Orthotics Market Size, Forecast: By Product: Orthotic Products, Prosthetic Products; Market Dynamics: SWOT Analysis, Porter’s Five Forces Model, Key Demand Indicators, Key Price Indicators, Industry Events, Initiatives, and Trends, Value Chain Analysis; Supplier Landscape; Key Opinion Leaders (KOL) Insights; 2024-2032
Global Prosthetics and Orthotics Market Outlook
The global prosthetics and orthotics market size was valued at USD 9.22 billion in 2023, driven by the increasing advancement of technologies and personalization in prosthetics and orthotics across the globe. The market size is anticipated to grow at a CAGR of 4.77% during the forecast period of 2024-2032 to achieve a value of USD 14.02 billion by 2032.
Prosthetics and Orthotics: Introduction
The devices that are designed and created in prosthetics imitate the functioning of real body parts and appearance. The development of these devices is custom made to fit the exact need and requirement of person's anatomy.
Orthotics are used in cases of development and placement of devices that support or correct the musculoskeletal deformities or abnormalities. These devices could include braces, shoe inserts, and some other devices as supportive devices. Alignments can be corrected and improved by the use of these devices.
Prosthetics and Orthotics Market Analysis
Prosthetics and orthotics are specialized fields in which designing, placement, and fitting of artificial limbs is performed in order to replace or support the disabled body parts. These devices are used to enhance mobility and functionality, and general well-being of people who have lost limbs, deformities, or musculoskeletal conditions.
With the rising cases of sports injury and accidents, the demand for advanced prosthetics and orthotics is constantly rising. Due to the rising demand, key players are increasingly investing in advanced products in order to have an edge over the other competitors in the market. This has been favouring the prosthetics and orthotics market expansion and is likely to continue propelling the demand in the coming years as well.
The rapid advancement in prosthetic and orthotics field, such as the use lightweight materials and integration of technology in development of devices, is also aiding the prosthetics and orthotics market development. The integration of 3D printing and computer aided design is increasing the convenience of creating custom and personalized products for people, which is increasing its demand in the medical field as well. Along with the use of 3D printing, use of sensors is also an innovative step towards creating more secure and sensible devices in order to fit the requirements of the person in need.
Additionally, the increased emphasis on natural appearance, use of eco-friendly solutions, coordination with healthcare and digital health systems, are among the key factors aiding the market growth.
Prosthetics and Orthotics Market Segmentations
Market Breakup by Product
- Orthotic Products
- Upper Limb
- Lower Limb
- Spinal
- Prosthetic Products
- Upper Extremity
- Lower Extremity
- Liners
- Sockets
- Modular Component
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Prosthetics and Orthotics Market Overview
The growth of the prosthetics and orthotics market is driven by several factors as increasing personalization, focus on natural appearance of devices, involvement of advanced technologies, and eco-friendly materials. The rising case of diabetes is also leading to increased demand for prosthetics and orthotics.
Prosthetics and Orthotics Market Share by Region
Based on region, the global market was dominated by North America during the historical period and the region is most likely to continue leading the global market. The dominance of the region can be attributed to the developed healthcare infrastructure in the region, favourable reimbursement policies by the governments, and the rising investment by the government, among others.
Prosthetics and Orthotics 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:
- Ossur
- Blatchford Inc
- Ottobock
- Bauerfeind AG
- WillowWood Global LLC
- Ability Matters Group
- Smith+Nephew
- Esko Bionics
- Mobius Bionics
- Boston Orthotics & Prosthetics
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 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 Prosthetics and Orthotics Market Overview
3.1 Global Prosthetics and Orthotics Market Historical Value (2017-2023)
3.2 Global Prosthetics and Orthotics Market Forecast Value (2024-2032)
4 Global Prosthetics and Orthotics Market Landscape
4.1 Prosthetics and Orthotics: 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 Prosthetics and Orthotics: Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Technology
4.2.3 Analysis by Body Part
5 Global Prosthetics and Orthotics 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 Prosthetics and Orthotics Market Segmentation
6.1 Global Prosthetics and Orthotics Market by Product
6.1.1 Market Overview
6.1.2 Orthotic Products
6.1.2.1 Upper Limb
6.1.2.2 Lower Limb
6.1.2.3 Spinal
6.1.3 Prosthetic Products
6.1.3.1 Upper Extremity
6.1.3.2 Lower Extremity
6.1.3.3 Liners
6.1.3.4 Sockets
6.1.3.5 Modular Component
6.2 Global Prosthetics and Orthotics Market by Region
6.2.1 Market Overview
6.2.2 North America
6.2.3 Europe
6.2.4 Asia Pacific
6.2.5 Latin America
6.2.6 Middle East and Africa
7 North America Prosthetics and Orthotics Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Prosthetics and Orthotics 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 Prosthetics and Orthotics 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 Prosthetics and Orthotics Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Prosthetics and Orthotics 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 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by NIH Departments
14.7 Analysis by Recipient Organization
15 Clinical Trials Analysis
15.1 Analysis by Trial Registration Year
15.2 Analysis by Trial Status
15.3 Analysis by Trial Phase
15.4 Analysis by Therapeutic Area
15.5 Analysis by Geography
16 Funding and Investment Analysis
16.1 Analysis by Funding Instances
16.2 Analysis by Type of Funding
16.3 Analysis by Funding Amount
16.4 Analysis by Leading Players
16.5 Analysis by Leading Investors
16.6 Analysis by Geography
17 Partnership and Collaborations Analysis
17.1 Analysis by Partnership Instances
17.2 Analysis by Type of Partnership
17.3 Analysis by Leading Players
17.4 Analysis by Geography
18 Supplier Landscape
18.1 Ossur
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 Blatchford Inc
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 Ottobock
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Bauerfeind AG
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 WillowWood Global LLC
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Ability Matters Group
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 Smith+Nephew
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 Esko Bionics
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 Mobius Bionics
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Boston Orthotics & Prosthetics
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
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 9.22 billion in 2023, driven by the rising cases of accidents and amputations due to various diseases and conditions.
The market is anticipated to grow at a CAGR of 4.77% during the forecast period of 2024-2032 to reach a value of USD 14.02 billion by 2032.
The key drivers aiding the market growth include the rising healthcare sector, rising technological advancements in the market, and the increasing involvement of advanced technology and personalization.
The increased emphasis on natural appearance and the rising use of eco-friendly solutions are some of the key trends aiding the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America has been leading the global market.
The products in the market include orthotic products and prosthetic products.
Key players involved in the market are Ossur, Blatchford Inc, Ottobock, Bauerfeind AG, WillowWood Global LLC, Ability Matters Group, Smith+Nephew, Esko Bionics, Mobius Bionics, and Boston Orthotics & Prosthetics.
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