Prosthetics and Orthotics Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Global Prosthetics and Orthotics Market Size accounted for USD 6.4 Billion in 2022 and is estimated to achieve a market size of USD 11.3 Billion by 2032 growing at a CAGR of 5.9% from 2023 to 2032.

Prosthetics and Orthotics Market Highlights

• Global prosthetics and orthotics market revenue is poised to garner USD 11.3 billion by 2032 with a CAGR of 5.9% from 2023 to 2032
• North America prosthetics and orthotics market value occupied around USD 2.4 billion in 2022
• Asia-Pacific prosthetics and orthotics market growth will record a CAGR of more than 6% from 2023 to 2032
• Among type, the orthotics sub-segment generated over US$ 4.2 billion revenue in 2022
• By technology, conventional technology generated over US$ 3 billion in 2022
• The rising adoption of 3D printing for prosthetic fabrication is a popular market trend that fuels the industry demand

Prosthetics and orthotics are branches of clinical disciplines that deal with artificial limbs for patients after amputations and supportive devices (orthoses) for people suffering from musculoskeletal weakness or neurological disorders. All the devices must be a unique combination of suitable materials, design, alignment, and construction to match the functional needs of the individual. These needs may vary for upper & lower extremities and prosthetics & orthotics. Upper limb prostheses need to address reaching, grasping, specific occupational challenges such as painting, hammering, or weight lifting, and daily living activities such as writing, eating, and dressing. However, lower limb prostheses need to address stability during standing and walking, energy storage, shock absorption, cosmetic appearance, and also some extraordinary functional needs such as jumping, running, and other athletic activities.

Global Prosthetics and Orthotics Market Dynamics

Market Drivers

• Increasing incidence of sports injuries and road accidents
• Growing prevalence of osteosarcoma
• Increasing prevalence of disabilities and chronic conditions
• Advancements in technology and materials for prosthetics and orthotics
• The growing aging population and related mobility issues

Market Restraints

• Lack of adequate healthcare infrastructure
• High costs associated with prosthetic and orthotic devices
• Limited reimbursement policies and insurance coverage
• Lack of skilled professionals and expertise in the field
• Social stigma and psychological barriers associated with using prosthetics

Market Opportunities

• Expanding healthcare infrastructure in developing regions
• Growing demand for personalized and customizable prosthetic solutions
• Integration of artificial intelligence and robotics in prosthetics and orthotics
• Collaborations between research institutions and industry players

Prosthetics and Orthotics Market Report Coverage

Prosthetics and Orthotics Market Insights

An increasing incidence of injuries during sports and road accidents, growing prevalence of osteosarcoma around the world due to unhealthy lifestyles & increasing geriatric population, growing awareness about prosthetics & orthotics, and rising number of diabetes-related amputations are expected to propel the market growth. A continuous rise in the number of road accidents is also a key factor to boost market growth. According to the WHO’s infographics on road safety, annually about 20-50 million people are injured or disabled due to road accidents across the world. Furthermore, the data also reported that in the U.S., around 2.35 million are injured or disabled and more than 37,000 people die in road accidents each year.

However, the lack of well-equipped rehabilitation centers, high cost of treatment, and unfavorable reimbursement scenarios in most of the regions across the world are some of the factors that may limit the market growth.

Prosthetics and Orthotics Market Segmentation

The worldwide market for prosthetics and orthotics is split based on type, technology, end-user, and geography.

Prosthetics and Orthotics Types

• Orthotics
  • Upper limb
  • Lower limb
  • Spinal
• Prosthetics
  • Upper extremity
  • Lower extremity
  • Liners
  • Sockets
  • Modular Technology

Based on the type, the global prosthetics and orthotics market is segmented into orthotics and prosthetics. Orthotics is further sub-segmented into the upper limb, lower limb, and spinal. Whereas, prosthetics are sub-segmented into upper extremity, lower extremity, sockets, liners, and modular Technology. Orthotics accounted for the largest share of the market in 2022. Rising incidences of sports injuries, increasing prevalence of osteoarthritis, unhealthy lifestyles, entry of various products in the market, and growing penetration of innovative orthopedic technology are the key factors responsible for the growth of the market. For instance, according to the United Nations published data, the number of people aged 60 years or over is anticipated to more than double by 2050, from 962 million in 2017 to 2.1 billion in 2050 across the world. The geriatric population is more susceptible to orthopedic conditions such as osteopenia and osteoporosis, making them a larger share of the users of various orthopedic products. The upper limb orthotics segment accounted for the largest share of the orthotics due to benefits offered by the products, such as the reduction in pain and recovery time in terms of movement. However, the spinal orthotics segment is anticipated to exhibit the fastest growth rate due to the rising geriatric population, an increasing number of spinal injuries, and unhealthy lifestyles such as stress, long working hours, and lesser exercise activities. In the prosthetics segment, the upper extremity held the largest share of the market.

Prosthetics and Orthotics Technologies

• Conventional
• Electric Powered
• Hybrid Orthopedic Prosthetics

Based on technology, this market is classified into three sub-segments. During the pandemic, the National Association for the Advancement of Orthotics and Prosthetics issued an alert advising state and local health authorities in the US that orthopedic and prosthetic practices should be considered essential services and made available to patients in need of orthopedic and prosthetics care. The largest share of the global orthotics and prosthetics market in 2022 is held by the conventional segment, primarily due to its affordability. The advantages of this technology include safety, energy efficiency, stability, and affordability, which attract consumers and are predicted to drive the growth of this segment in the market.

Prosthetics and Orthotics End-Users

• Clinics
• Hospitals
• Others

On the basis of end-users, the global prosthetic and orthotics market is subdivided into clinics, hospitals, and rehabilitation centers. The largest market share in 2022 is held by the prosthetics and orthotics clinics segment, and it is expected to remain dominant throughout the forecast period. This is due to the preference of the population for perioperative monitoring in hospitals and the convenient accessibility of patients to hospitals and clinics after the COVID-19 pandemic situation. Apart from two segments, prosthetic and orthotics clinics are expected to have a stronger market presence. This is because of the investments made by companies that want to have their clinics in addition to their products. A large share is attributed to the number of amputee patients, the presence of skilled medical professionals, and the personalized attention provided to each patient. The hospital segment is also expected to grow steadily due to its extensive infrastructure and high budget.

Prosthetics and Orthotics Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Prosthetics and Orthotics Market Regional Analysis

Geographically, the market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share of the market in 2022. This can be attributed to well-established healthcare infrastructure, favorable reimbursement policies, the local presence of major market players, and investment by companies in research and development activities. However, Asia-Pacific is anticipated to boost the market during the forecast period. The increasing number of road accidents, supportive government initiatives, and raising awareness about newer products are some of the key factors to propel the market growth in the coming years. Furthermore, the rising disposable income of people in emerging countries such as China, India, South Korea, and Indonesia also helps to boost the market growth.

Prosthetics and Orthotics Market Players

Some of the top prosthetics and orthotics companies offered in our report includes BCP Group, Blatchford Inc., Boston Orthotics & Prosthetics, Fillauer LLC, Ossur, Ottobock Healthcare GmbH, The Ohio Willow Wood Company, Ultraflex Systems Inc., Zimmer Biomet Holdings Inc., Steeper Group, and WillowWood.