This Limb Prosthetics market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The limb prosthetics market size has grown strongly in recent years. It will grow from $1.53 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth during the historic period can be attributed to increased awareness of prosthetic options, improved access to healthcare services, advancements in surgical techniques and rehabilitation practices, the use of carbon fiber in prosthetics, and a heightened focus on enhancing quality of life.
The limb prosthetics market size is expected to see strong growth in the next few years. It will grow to $2.22 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth during the forecast period can be attributed to rising incidences of trauma, increased government and insurance support, expansion of medical tourism, growth in healthcare infrastructure, and advancements in bionic and neural prosthetics. Key trends expected to influence this period include enhanced control and functionality of prosthetics, the development of advanced materials and manufacturing techniques, improved affordability and accessibility, integration of regenerative medicine and biotechnology, and a focus on user-centric design and experience.
The increase in road accidents is anticipated to drive the growth of the limb prosthetics market. Rising vehicle traffic, driver distractions, speeding, and poor road conditions are contributing to a higher number of accidents. Limb prosthetics provide vital support for survivors by offering functional replacements for lost or severely damaged limbs, improving mobility, and enhancing quality of life through advanced technology and customization. For example, in October 2023, Brake, a UK-based road safety charity, reported that road accidents in 2022 resulted in 1,766 deaths and 28,941 serious injuries, representing a 10% increase in fatalities from 2021. Thus, the growing incidence of accidents is fueling demand for limb prosthetics.
Key players in the limb prosthetics market are focusing on developing actively powered microprocessor prosthetic knees to offer more personalized and intuitive solutions. These prosthetic knees use sensors and microprocessors to adjust resistance and movement dynamically, enhancing gait and stability. For instance, in February 2022, Össur hf, an Iceland-based orthopedics manufacturer, introduced the Power Knee, the world's first actively powered microprocessor prosthetic knee. This device is designed to improve mobility and independence for individuals with above-knee amputations or limb differences. It uses advanced algorithms to detect and adapt to movement patterns in real-time, providing active assistance across different surfaces, inclines, declines, stairs, and ramps. The Power Knee promotes symmetrical motion, conserves the wearer's energy, and allows users to perform tasks that traditional prosthetics may have made challenging or impossible.
In August 2022, Össur hf acquired Naked Prosthetics for an undisclosed amount. This acquisition aims to expand Össur’s upper limb product range by integrating durable finger prostheses for individuals with finger and partial hand amputations. Naked Prosthetics, a US-based company, specializes in manufacturing durable and functional finger prostheses, contributing to Össur’s goal of strengthening its global market position.
Major companies operating in the limb prosthetics market are Össur Kristinsson, Ottobock SE & Co. KGaA, Hanger Inc., Kare Enterprise Private Limited, Blatchford Limited, Endolite India Ltd., Trulife India Private Limited, Steeper Inc., Uniprox GmbH & Co. KG, College Park Industries, Fillauer LLC, Freedom Innovations LLC, Silipos Holding LLC, ST&G Corporation, WillowWood Global LLC, Ortho Europe Ltd., ALVI Labs, BioGrip GmbH, Toughware Prosthetics, ALIMCO (Artificial Limbs Manufacturing Corporation of India), Streifeneder USA.
North America was the largest region in the limb prosthetics market in 2023. The regions covered in the limb prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the limb prosthetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Limb prosthetics are artificial devices created to replace missing limbs, aiming to restore functionality and mobility. These prosthetics are custom-made to fit the residual limb and assist individuals in performing daily activities by mimicking the natural movement and appearance of the lost limb. Their primary purpose is to enable individuals to regain functionality, mobility, and independence.
The main types of limb prosthetics are lower limb prosthetics and upper limb prosthetics. Lower limb prosthetics are designed to replace all or part of a leg or foot lost due to injury, disease, or congenital conditions. This category includes various components such as the socket, appendage, joint, and connecting module. It employs technologies such as conventional prosthetics, electric prosthetics, and hybrid prosthetics. These devices are used by various end users, including orthotics and prosthetics (O&P) clinics, orthopedic clinics, and others.
The limb prosthetics market research report is one of a series of new reports that provides limb prosthetics market statistics, including limb prosthetics industry global market size, regional shares, competitors with a limb prosthetics market share, detailed limb prosthetics market segments, market trends and opportunities, and any further data you may need to thrive in the limb prosthetics industry. This limb prosthetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The limb prosthetics market consists of sales of prosthetic arms and hands, prosthetic legs and feet, custom socket designs, advanced bionic limbs, and cosmetic prosthetics. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The limb prosthetics market size has grown strongly in recent years. It will grow from $1.53 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth during the historic period can be attributed to increased awareness of prosthetic options, improved access to healthcare services, advancements in surgical techniques and rehabilitation practices, the use of carbon fiber in prosthetics, and a heightened focus on enhancing quality of life.
The limb prosthetics market size is expected to see strong growth in the next few years. It will grow to $2.22 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth during the forecast period can be attributed to rising incidences of trauma, increased government and insurance support, expansion of medical tourism, growth in healthcare infrastructure, and advancements in bionic and neural prosthetics. Key trends expected to influence this period include enhanced control and functionality of prosthetics, the development of advanced materials and manufacturing techniques, improved affordability and accessibility, integration of regenerative medicine and biotechnology, and a focus on user-centric design and experience.
The increase in road accidents is anticipated to drive the growth of the limb prosthetics market. Rising vehicle traffic, driver distractions, speeding, and poor road conditions are contributing to a higher number of accidents. Limb prosthetics provide vital support for survivors by offering functional replacements for lost or severely damaged limbs, improving mobility, and enhancing quality of life through advanced technology and customization. For example, in October 2023, Brake, a UK-based road safety charity, reported that road accidents in 2022 resulted in 1,766 deaths and 28,941 serious injuries, representing a 10% increase in fatalities from 2021. Thus, the growing incidence of accidents is fueling demand for limb prosthetics.
Key players in the limb prosthetics market are focusing on developing actively powered microprocessor prosthetic knees to offer more personalized and intuitive solutions. These prosthetic knees use sensors and microprocessors to adjust resistance and movement dynamically, enhancing gait and stability. For instance, in February 2022, Össur hf, an Iceland-based orthopedics manufacturer, introduced the Power Knee, the world's first actively powered microprocessor prosthetic knee. This device is designed to improve mobility and independence for individuals with above-knee amputations or limb differences. It uses advanced algorithms to detect and adapt to movement patterns in real-time, providing active assistance across different surfaces, inclines, declines, stairs, and ramps. The Power Knee promotes symmetrical motion, conserves the wearer's energy, and allows users to perform tasks that traditional prosthetics may have made challenging or impossible.
In August 2022, Össur hf acquired Naked Prosthetics for an undisclosed amount. This acquisition aims to expand Össur’s upper limb product range by integrating durable finger prostheses for individuals with finger and partial hand amputations. Naked Prosthetics, a US-based company, specializes in manufacturing durable and functional finger prostheses, contributing to Össur’s goal of strengthening its global market position.
Major companies operating in the limb prosthetics market are Össur Kristinsson, Ottobock SE & Co. KGaA, Hanger Inc., Kare Enterprise Private Limited, Blatchford Limited, Endolite India Ltd., Trulife India Private Limited, Steeper Inc., Uniprox GmbH & Co. KG, College Park Industries, Fillauer LLC, Freedom Innovations LLC, Silipos Holding LLC, ST&G Corporation, WillowWood Global LLC, Ortho Europe Ltd., ALVI Labs, BioGrip GmbH, Toughware Prosthetics, ALIMCO (Artificial Limbs Manufacturing Corporation of India), Streifeneder USA.
North America was the largest region in the limb prosthetics market in 2023. The regions covered in the limb prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the limb prosthetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Limb prosthetics are artificial devices created to replace missing limbs, aiming to restore functionality and mobility. These prosthetics are custom-made to fit the residual limb and assist individuals in performing daily activities by mimicking the natural movement and appearance of the lost limb. Their primary purpose is to enable individuals to regain functionality, mobility, and independence.
The main types of limb prosthetics are lower limb prosthetics and upper limb prosthetics. Lower limb prosthetics are designed to replace all or part of a leg or foot lost due to injury, disease, or congenital conditions. This category includes various components such as the socket, appendage, joint, and connecting module. It employs technologies such as conventional prosthetics, electric prosthetics, and hybrid prosthetics. These devices are used by various end users, including orthotics and prosthetics (O&P) clinics, orthopedic clinics, and others.
The limb prosthetics market research report is one of a series of new reports that provides limb prosthetics market statistics, including limb prosthetics industry global market size, regional shares, competitors with a limb prosthetics market share, detailed limb prosthetics market segments, market trends and opportunities, and any further data you may need to thrive in the limb prosthetics industry. This limb prosthetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The limb prosthetics market consists of sales of prosthetic arms and hands, prosthetic legs and feet, custom socket designs, advanced bionic limbs, and cosmetic prosthetics. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Limb Prosthetics Market Characteristics3. Limb Prosthetics Market Trends and Strategies32. Global Limb Prosthetics Market Competitive Benchmarking33. Global Limb Prosthetics Market Competitive Dashboard34. Key Mergers and Acquisitions in the Limb Prosthetics Market
4. Limb Prosthetics Market - Macro Economic Scenario
5. Global Limb Prosthetics Market Size and Growth
6. Limb Prosthetics Market Segmentation
7. Limb Prosthetics Market Regional and Country Analysis
8. Asia-Pacific Limb Prosthetics Market
9. China Limb Prosthetics Market
10. India Limb Prosthetics Market
11. Japan Limb Prosthetics Market
12. Australia Limb Prosthetics Market
13. Indonesia Limb Prosthetics Market
14. South Korea Limb Prosthetics Market
15. Western Europe Limb Prosthetics Market
16. UK Limb Prosthetics Market
17. Germany Limb Prosthetics Market
18. France Limb Prosthetics Market
19. Italy Limb Prosthetics Market
20. Spain Limb Prosthetics Market
21. Eastern Europe Limb Prosthetics Market
22. Russia Limb Prosthetics Market
23. North America Limb Prosthetics Market
24. USA Limb Prosthetics Market
25. Canada Limb Prosthetics Market
26. South America Limb Prosthetics Market
27. Brazil Limb Prosthetics Market
28. Middle East Limb Prosthetics Market
29. Africa Limb Prosthetics Market
30. Limb Prosthetics Market Competitive Landscape and Company Profiles
31. Limb Prosthetics Market Other Major and Innovative Companies
35. Limb Prosthetics Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Limb Prosthetics Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on limb prosthetics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for limb prosthetics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The limb prosthetics market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Lower Limb Prosthetics; Upper Limb Prosthetics2) By Component: Socket; Appendage; Joint; Connecting Module; Other Components
3) By Technology: Conventional Prosthetic Devices; Electric Prosthetic Devices; Hybrid Prosthetic Devices
4) By End-User: Orthotics And Prosthetics (O&P) Clinics; Orthopedic Clinics; Other End-Users
Key Companies Mentioned: Össur Kristinsson; Ottobock SE & Co. KGaA; Hanger Inc.; Kare Enterprise Private Limited; Blatchford Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies profiled in this Limb Prosthetics market report include:- Össur Kristinsson
- Ottobock SE & Co. KGaA
- Hanger Inc.
- Kare Enterprise Private Limited
- Blatchford Limited
- Endolite India Ltd.
- Trulife India Private Limited
- Steeper Inc.
- Uniprox GmbH & Co. KG
- College Park Industries
- Fillauer LLC
- Freedom Innovations LLC
- Silipos Holding LLC
- ST&G Corporation
- WillowWood Global LLC
- Ortho Europe Ltd.
- ALVI Labs
- BioGrip GmbH
- Toughware Prosthetics
- ALIMCO (Artificial Limbs Manufacturing Corporation of India)
- Streifeneder USA
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | December 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.64 Billion |
Forecasted Market Value ( USD | $ 2.22 Billion |
Compound Annual Growth Rate | 7.8% |
Regions Covered | Global |
No. of Companies Mentioned | 22 |