The limb prosthetics market was valued at $1.7 billion in 2023, and is projected to reach $2.9 billion by 2033, growing at a CAGR of 5.6% from 2024 to 2033.
Limb prosthetics are artificial limbs designed to replace and mimic the movement and function of natural limbs among patients whose limbs have been amputated. This assistive technology plays a crucial role in enhancing the quality of life for amputees, enabling them to regain mobility, independence, and confidence. Modern prosthetics often incorporate smart technology, such as sensors and microprocessors, to provide more precise and responsive movements. They further alleviate discomfort by providing better weight distribution and reducing the strain on remaining limbs and muscles.
The growth of the global limb prosthetics market is driven by increase in cases of accidents causing traumatic injuries and rise in prevalence of diabetes, vascular diseases, and traumatic injuries. According to a study published in 2020 in ScienceDirect - the world's leading source for scientific, technical, and medical research - approximately 30,000 to 40,000 civilian injury-related amputations are performed every year in the U.S. Around 59% of the traumatic amputations most commonly involve the lower limb as compared with the upper limb, which is 41%. As per the same source, a study published in January 2023 revealed that approximately 139.97 and 94.82 cases/100,000 individuals underwent diabetes-related minor and major amputations, respectively, during the 2010-2020 period. The market growth is further propelled by surge in geriatric population. This is attributed to the fact that as the global population ages, the prevalence of conditions like diabetes and peripheral artery disease increases, leading to a higher incidence of amputations and a greater need for prosthetics. As per the World Health Organization, the number of people aged 60 years and older was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050, which is likely to significantly contribute toward the market growth. Improved awareness about the availability and benefits of prosthetics, along with better healthcare infrastructure, especially in developing regions, is further augmenting the market growth. Moreover, increase in investment in healthcare, particularly in developed countries and rise in awareness about the availability and benefits of prosthetics support the development and accessibility of advanced prosthetic solutions. However, high cost associated with limb prosthetics and lack of acceptance act as the key deterrent factors of the market. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access restrain the market growth. On the contrary, increase in government funding and support for the development and distribution of limb prosthetics is expected to offer remunerative opportunities for the expansion of the market during the forecast period. For instance, the United States Department of Veterans Affairs (VA) initiatives provide extensive support to veterans who have lost limbs through its Prosthetic and Sensory Aids Service. VA allocates substantial funding for the provision of prosthetic devices, including prosthetic feet, to eligible veterans. In addition, innovations in materials, design, and robotics have significantly improved the functionality, comfort, and durability of prosthetics, which are anticipated to open new avenues for the growth of the market.
The global limb prosthetics industry is segmented into type, technology, component, end user, and region. By type, the market is bifurcated into upper limb prosthetics and lower limb prosthetics. As per technology, it is classified into conventional prosthetic devices, electric prosthetic devices, and hybrid prosthetic devices. Depending on component, it is segregated into socket, appendage, joint, connecting module, and others. On the basis of end user, it is fragmented into hospitals, clinics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of technology, the conventional prosthetic devices segment garnered the maximum share in 2023.
Depending on component, the socket segment led the market, in terms of share, in 2023.
As per end user, the clinics segment emerged as the major shareholder in 2023.
Region wise, North America dominated the market in 2023; however, Asia-Pacific is expected to lead from 2024 to 2033.
Limb prosthetics are artificial limbs designed to replace and mimic the movement and function of natural limbs among patients whose limbs have been amputated. This assistive technology plays a crucial role in enhancing the quality of life for amputees, enabling them to regain mobility, independence, and confidence. Modern prosthetics often incorporate smart technology, such as sensors and microprocessors, to provide more precise and responsive movements. They further alleviate discomfort by providing better weight distribution and reducing the strain on remaining limbs and muscles.
The growth of the global limb prosthetics market is driven by increase in cases of accidents causing traumatic injuries and rise in prevalence of diabetes, vascular diseases, and traumatic injuries. According to a study published in 2020 in ScienceDirect - the world's leading source for scientific, technical, and medical research - approximately 30,000 to 40,000 civilian injury-related amputations are performed every year in the U.S. Around 59% of the traumatic amputations most commonly involve the lower limb as compared with the upper limb, which is 41%. As per the same source, a study published in January 2023 revealed that approximately 139.97 and 94.82 cases/100,000 individuals underwent diabetes-related minor and major amputations, respectively, during the 2010-2020 period. The market growth is further propelled by surge in geriatric population. This is attributed to the fact that as the global population ages, the prevalence of conditions like diabetes and peripheral artery disease increases, leading to a higher incidence of amputations and a greater need for prosthetics. As per the World Health Organization, the number of people aged 60 years and older was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050, which is likely to significantly contribute toward the market growth. Improved awareness about the availability and benefits of prosthetics, along with better healthcare infrastructure, especially in developing regions, is further augmenting the market growth. Moreover, increase in investment in healthcare, particularly in developed countries and rise in awareness about the availability and benefits of prosthetics support the development and accessibility of advanced prosthetic solutions. However, high cost associated with limb prosthetics and lack of acceptance act as the key deterrent factors of the market. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access restrain the market growth. On the contrary, increase in government funding and support for the development and distribution of limb prosthetics is expected to offer remunerative opportunities for the expansion of the market during the forecast period. For instance, the United States Department of Veterans Affairs (VA) initiatives provide extensive support to veterans who have lost limbs through its Prosthetic and Sensory Aids Service. VA allocates substantial funding for the provision of prosthetic devices, including prosthetic feet, to eligible veterans. In addition, innovations in materials, design, and robotics have significantly improved the functionality, comfort, and durability of prosthetics, which are anticipated to open new avenues for the growth of the market.
The global limb prosthetics industry is segmented into type, technology, component, end user, and region. By type, the market is bifurcated into upper limb prosthetics and lower limb prosthetics. As per technology, it is classified into conventional prosthetic devices, electric prosthetic devices, and hybrid prosthetic devices. Depending on component, it is segregated into socket, appendage, joint, connecting module, and others. On the basis of end user, it is fragmented into hospitals, clinics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
By type, the lower limb prosthetics segment dominated the market share in 2023.On the basis of technology, the conventional prosthetic devices segment garnered the maximum share in 2023.
Depending on component, the socket segment led the market, in terms of share, in 2023.
As per end user, the clinics segment emerged as the major shareholder in 2023.
Region wise, North America dominated the market in 2023; however, Asia-Pacific is expected to lead from 2024 to 2033.
Competition Analysis
Competitive analysis and profiles of the major players in the global limb prosthetics market include Fillauer LLC Companies, Inc., Hanger, Inc., Össur, Blatchford Limited, Spinal Technology Inc., Ottobock, WillowWood Global LLC, Steeper Inc., Uniprox, and Ortho Europe. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Type
- Upper Limb Prosthetics
- Lower Limb Prosthetics
By Technology
- Conventional Prosthetic Devices
- Electric Prosthetic Devices
- Hybrid Prosthetic Devices
By Component
- Socket, Appendage
- Joint
- Connecting Module
- Others
By End User
- Hospitals
- Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- Chain
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Fillauer LLC Companies, Inc
- Hanger, Inc
- Össur
- Blatchford Limited
- Spinal Technology Inc
- ottobock
- WillowWood Global LLC
- Steeper Inc
- Uniprox
- Ortho Europe
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: LIMB PROSTHETICS MARKET, BY TYPE
CHAPTER 5: LIMB PROSTHETICS MARKET, BY TECHNOLOGY
CHAPTER 6: LIMB PROSTHETICS MARKET, BY COMPONENT
CHAPTER 7: LIMB PROSTHETICS MARKET, BY END USER
CHAPTER 8: LIMB PROSTHETICS MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
Key Market Players in the Limb Prosthetics Market include:- Fillauer LLC Companies, Inc
- Hanger, Inc
- Össur
- Blatchford Limited
- Spinal Technology Inc
- ottobock
- WillowWood Global LLC
- Steeper Inc
- Uniprox
- Ortho Europe
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 280 |
| Published | July 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 1.7 billion |
| Forecasted Market Value ( USD | $ 2.9 billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
