Global Orthopedic Prosthetics Market Price 2024, Forecast To 2033
17 Jan, 2024
The orthopedic prosthetics market has demonstrated robust growth, rising from $1.96 billion in 2023 to $2.07 billion in 2024, featuring a 5.4% CAGR. Historical expansion is attributed to an aging population, trauma and injuries, chronic conditions, and a heightened focus on rehabilitation and physical therapy. Expecting sustained growth, the market is projected to reach $2.55 billion in 2028, reflecting a 5.4% CAGR. Anticipated growth is fueled by the expansion of emerging markets, the adoption of personalized prosthetic solutions, supportive regulatory frameworks, and the evolution towards value-based healthcare. Key trends include advancements in materials, the integration of sensors, osseointegration, and an increased focus on user-centered design.
Global Orthopedic Prosthetics Market Key Driver
Increasing trauma cases and accidental injuries drive the orthopedic prosthetics market. Trauma from road accidents, sports injuries, and work-related incidents often requires amputations and prosthetic devices. With 2.1 million people in the USA living with limb loss and an expected doubling by 2050, the demand for orthopedic prosthetics grows.
Get A Free Sample Of The Global Orthopedic Prosthetics Market ReportGlobal Orthopedic Prosthetics Market Segments
The orthopedic prosthetics market covered in this report is segmented –
1) By Product Type: Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, Other Products
2) By Technology: Conventional orthopedic prosthetics, Electric-powered orthopedic prosthetics, Hybrid orthopedic prosthetics
3) By End Users: Hospitals, Prosthetic Clinics, Rehabilitation Center, Other End Users
By Geography: The regions covered in the orthopedic prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
North America was the largest region in the global orthopedic prosthetics market in 2023. Western Europe was the second-largest region in the orthopedic prosthetics market. The regions covered in the orthopedic prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Orthopedic Prosthetics Industry Players
Otto Bock HealthCare GmbH, Blatchford Ltd., Zimmer Biomet Inc., DePuy Synthes, Stryker Corporation, WillowWood, Smith and Nephew plc, Biomet Inc., Touch Bionics Inc., Fillauer Companies Inc., Advanced Arm Dynamics, Bock Healthcare Gmbh, Medtronic Spine LLC, DJO Global, Integra Lifesciences, NuVasive Inc., Globus Medical, Wright Medical Group Inc., Arthrex Inc., Johnson & Johnson, OrthoPediatrics Corp., WishBone Medical Inc., Hanger Inc., Howard Orthopaedics Inc., Exactech Inc., Ossur hf., B. Braun Melsungen AG, Mobius Bionics LLC, Esper Bionics, ToughWare Prosthetics, Enovis, Argomedical AG, Astrek Innovations Pvt Ltd., Boston Orthotics & Prosthetics, LeTourneau Lifelike Orthotics and Prosthetics Inc., TASKA Prosthetics, Naked Prosthetics, Steeper Inc., medi GmbH & Co. KG, Orthotic & Prosthetic Lab Inc., Trulife Group Limited
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Orthopedic Prosthetics Market Overview
Orthopedic prosthetics are artificial devices that replace a missing body part that may be lost through trauma, disease, surgical removal of body appendage, disabling illness, or congenital conditions.
Orthopedic Prosthetics Global Market Report 2023 provides data on the global orthopedic prosthetics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The orthopedic prosthetics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.