According to Research by SNS Insider, The global Prosthetic Limbs Market size was valued at USD 1.95 billion in 2023, is projected to reach USD 3.07 billion by 2032, growing at a CAGR of 5.18% during the forecast period from 2024 to 2032.
Market analysis
The prosthetic limbs market is influenced by factors such as technological advancements, the aging population, and the increasing adoption of modern prosthetics. Governments and non-governmental organizations (NGOs) are increasingly focusing on improving healthcare accessibility for amputees through advanced prosthetic solutions. For instance, in the United States, the Centers for Disease Control and Prevention (CDC) reports that over 185,000 amputations are performed annually due to various causes, including diabetes, cardiovascular diseases, and accidents. According to the World Health Organization (WHO), over 40 million people worldwide are living with limb loss, and approximately 1 million people lose a limb every year.
Advancements in prosthetic technologies, including body-powered, myoelectric, and robotic prosthetics, are significantly improving the functionality, comfort, and affordability of prosthetic limbs. These innovations have increased the adoption of prosthetic limbs among individuals requiring long-term solutions for mobility and rehabilitation. Moreover, the growing prevalence of chronic conditions, such as diabetes and vascular diseases, which contribute to an increase in amputations, is further propelling the growth of the prosthetic limbs market.
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Key Players in Prosthetic Limbs Market
• Medtronic
• Ortho Europe
• Fillauer LLC (Fillauer Companies Inc.)
• Uniprox (Bauerfeind)
• Hanger Inc.
• Steeper Inc.
• Össur
• Ottobock
• WillowWood Global LLC.
• Blatchford Limited
• RSL Steeper Group Ltd.
• Blatchford Group
Segmentation Insights
By Type
The lower limb prosthetics segment dominated the market in 2023, accounting for 62.40% of the overall market share. Lower limb prosthetics include devices designed for individuals with amputations of the leg, knee, or foot. This segment is expected to continue its dominance throughout the forecast period due to the high occurrence of lower limb amputations, which are often caused by diabetes, peripheral vascular disease, and trauma. These prosthetics enable individuals to regain mobility, participate in daily activities, and lead independent lives.
By Technology
In 2023, conventional prosthetics, which are body-powered devices, held the largest market share at 63.23%. These prosthetics, which rely on mechanical devices such as harnesses and cables to enable movement, remain popular due to their affordability, simplicity, and reliability. Body-powered prosthetics are typically used by individuals who require functional but cost-effective solutions.
By Component
In 2023, sockets held the largest share of 41.08% in the prosthetic limbs market. The socket is the interface between the prosthetic limb and the residual limb, and its quality is crucial to the comfort, stability, and functionality of the prosthetic device. Innovations in socket designs, such as adjustable and customizable sockets, are enhancing patient comfort and improving prosthetic limb performance.
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Prosthetic Limbs Market Segmentation
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
• Orthotists & Prosthetists (O&P) Clinics
• Orthopedic Clinics
• Others
Regional Analysis
North America dominated the prosthetic limbs market in 2023, with a market share of 37.88%. The region's growth is driven by a combination of factors, including a high incidence of amputations, significant healthcare infrastructure, and the growing adoption of advanced prosthetic technologies. The United States remains the largest market in North America, with the CDC reporting a high number of amputations due to chronic diseases such as diabetes and vascular conditions. Additionally, the strong presence of key market players, ongoing research and development, and increased government funding for rehabilitation and healthcare are further fueling market growth in the region.
The Asia-Pacific region is expected to experience the highest growth rate during the forecast period. Rapid advancements in healthcare infrastructure, a rising aging population, and an increasing number of amputations due to trauma and chronic conditions are contributing to the growth of the prosthetic limbs market in this region. Countries such as China, India, and Japan are leading the charge, with governments investing in the development of affordable and high-quality prosthetic solutions. Furthermore, the growing focus on prosthetic limb research and development in Asia-Pacific is expected to attract significant investments, thus boosting market growth.
By
The Editor
