The Global Orthopedic Prosthetics Market Will Witness A Robust CAGR Of 5.10%, Valued At $2.09 Billion In 2021, Expected To Appreciate And Reach $3.27 Billion By 2030.
Orthopedic Prosthetics Market Overview:
Orthopedic prosthetics are devices that help identify, design, produce, and fit custom-made prosthetics for patients who have lost limbs due to disease, trauma, or congenital conditions. Rise in orthopedic injuries and chronic diseases leading to bone-related deformities leads to demand for orthopedic prostheses. Rising prevalence of osteoarthritis, rising number of sports accidents, and advancements in orthopedic technology are some of the major drivers shaping the trajectory of the global prosthetics and orthotics market. Some of the major product types offered by the manufacturers and players operating in the global prosthetics and orthotics market include orthotics (including lower limbs, upper limbs, and spine) and prosthetics (including lower limbs, sockets, upper limbs, liners, and modular components). Recently, orthotic products have dominated the global prosthetics and orthotics market, and the prosthetics segment is likely to exhibit outstanding growth rate in the industry in the near future.
Orthopedic Prosthetics market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Orthopedic Prosthetics market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Major Market Segments Covered in Orthopedic Prosthetics Industry Research:
Market Key Players:
Ottobock, Stryker, Touch Bionics, Johnson & Johnson, MatOrtho, Arthrex, Corin USA, The Ohio Willow Wood, Endolite, Ossur, AAP Implantate AG, Hanger, Medtronic, Zimmer, Fillauer, And Others.
- Upper Prosthesis, Lower Prosthesis,
- Disabled Children, Disabled Adult
The North American market share will be about 38% by 2021. The market demand for prosthetics and orthotics in North America is growing at an unprecedented rate, mainly due to the presence of established prosthetic suppliers in the United States. In addition, the growing number of sports Injuries are underpinning the growth of the market in the North America region. Additionally, the level and skills of medical specialists and doctors in the region are encouraging people from other regions to travel there for prosthetic treatments. However, it is expected that the prosthetics and orthotics market in Europe and Asia Pacific will grow in Accelerate the pace in the next few years.
Asia Pacific is expected to account for a considerable market share due to the prevalence of osteoporosis in the region. Surging incidence of road accidents, increasing cases of diabetes-related amputations, and government supportive activities are driving the regional market. Rising number of road accidents, rising number of amputations related to diabetes, and supportive government initiatives are driving the growth of the region. According to a report by the Asia Diabetes Prevention Initiative, 60% of people with diabetes currently live in Asia, and by 2030, India and China are expected to have around 500,000 people with diabetes. The aforementioned factors are expected to boost the regional market over the forecast timeframe.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Various factors such as increasing prevalence of lifestyle disorders such as diabetes, increasing number of trauma cases, increasing number of sports-related injuries, and technological advancements in product development are expected to drive the orthopedic prosthetic devices market. One of the key aspects responsible for the growth of the orthopedic prosthetic devices market is the rising prevalence of diabetes globally. Diabetes is considered to be one of the leading causes of amputation, which in turn is likely to increase the demand for prosthetic orthotics, thereby providing positive growth prospects for the global orthopedic prosthetic devices market over the forecast period. Apart from this, increase in road accidents along with other causes of traumatic diseases is expected to contribute to the growth of the orthopedic prosthetic devices market over the forecast period.
Orthopedic Prosthetics Market report scope:
CAGR of 5.10% from 2022 to 2030.
Upper Prosthesis, Lower Prosthesis
Disabled Children, Disabled Adult
Ottobock, Stryker, Touch Bionics, Johnson & Johnson, MatOrtho, Arthrex, Corin USA, The Ohio Willow Wood, Endolite, Ossur, AAP Implantate AG, Hanger, Medtronic, Zimmer, Fillauer
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Key Takeaways from this Orthopedic Prosthetics Report
- Estimate Orthopedic Prosthetics market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Orthopedic Prosthetics market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Orthopedic Prosthetics market?
The Orthopedic Prosthetics Market is growing at a CAGR of 5.10% During Forecast Period.
What are the key types of Orthopedic Prosthetics market?
Upper Prosthesis, Lower Prosthesis,
What are the key applications of Orthopedic Prosthetics market?
Disabled Children, Disabled Adult
Who are the key players in Orthopedic Prosthetics market?
Ottobock, Stryker, Touch Bionics, Johnson & Johnson, MatOrtho, Arthrex, Corin USA, The Ohio Willow Wood, Endolite, Ossur, AAP Implantate AG, Hanger, Medtronic, Zimmer, Fillauer, And others.