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Limb Prosthetics Market 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 (Hospitals, Clinics, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

July 2024 | 280 pages | ID: LF54EAF3856EEN
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The limb prosthetics market was valued at $1.7 billion in 2023, and is projected t%li%reach $2.9 billion by 2033, growing at a CAGR of 5.6% from 2024 t%li%2033.

Limb prosthetics are artificial limbs designed t%li%replace and mimic the movement and function of natural limbs among patients whose limbs have been amputated. This assistive technology plays a crucial role in enhancing the quality of life for amputees, enabling them t%li%regain mobility, independence, and confidence. Modern prosthetics often incorporate smart technology, such as sensors and microprocessors, t%li%provide more precise and responsive movements. They further alleviate discomfort by providing better weight distribution and reducing the strain on remaining limbs and muscles.

The growth of the global limb prosthetics market is driven by increase in cases of accidents causing traumatic injuries and rise in prevalence of diabetes, vascular diseases, and traumatic injuries. According t%li%a study published in 2020 in ScienceDirect—the world's leading source for scientific, technical, and medical research—approximately 30,000 t%li%40,000 civilian injury-related amputations are performed every year in the U.S. Around 59% of the traumatic amputations most commonly involve the lower limb as compared with the upper limb, which is 41%. As per the same source, a study published in January 2023 revealed that approximately 139.97 and 94.82 cases/100,000 individuals underwent diabetes-related minor and major amputations, respectively, during the 2010-2020 period. The market growth is further propelled by surge in geriatric population. This is attributed t%li%the fact that as the global population ages, the prevalence of conditions like diabetes and peripheral artery disease increases, leading t%li%a higher incidence of amputations and a greater need for prosthetics. As per the World Health Organization, the number of people aged 60 years and older was 1 billion in 2019. This number is estimated t%li%increase t%li%1.4 billion by 2030 and 2.1 billion by 2050, which is likely t%li%significantly contribute toward the market growth. Improved awareness about the availability and benefits of prosthetics, along with better healthcare infrastructure, especially in developing regions, is further augmenting the market growth. Moreover, increase in investment in healthcare, particularly in developed countries and rise in awareness about the availability and benefits of prosthetics support the development and accessibility of advanced prosthetic solutions. However, high cost associated with limb prosthetics and lack of acceptance act as the key deterrent factors of the market. Moreover, lack of appropriate health facilities t%li%meet population needs in most countries and limited access restrain the market growth. On the contrary, increase in government funding and support for the development and distribution of limb prosthetics is expected t%li%offer remunerative opportunities for the expansion of the market during the forecast period. For instance, the United States Department of Veterans Affairs (VA) initiatives provide extensive support t%li%veterans wh%li%have lost limbs through its Prosthetic and Sensory Aids Service. VA allocates substantial funding for the provision of prosthetic devices, including prosthetic feet, t%li%eligible veterans. In addition, innovations in materials, design, and robotics have significantly improved the functionality, comfort, and durability of prosthetics, which are anticipated t%li%open new avenues for the growth of the market.

The global limb prosthetics industry is segmented int%li%type, technology, component, end user, and region. By type, the market is bifurcated int%li%upper limb prosthetics and lower limb prosthetics. As per technology, it is classified int%li%conventional prosthetic devices, electric prosthetic devices, and hybrid prosthetic devices. Depending on component, it is segregated int%li%socket, appendage, joint, connecting module, and others. On the basis of end user, it is fragmented int%li%hospitals, clinics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By type, the lower limb prosthetics segment dominated the market share in 2023.

On the basis of technology, the conventional prosthetic devices segment garnered the maximum share in 2023.

Depending on component, the socket segment led the market, in terms of share, in 2023.

As per end user, the clinics segment emerged as the major shareholder in 2023.

Region wise, North America dominated the market in 2023; however, Asia-Pacific is expected t%li%lead from 2024 t%li%2033.

Competition Analysis

Competitive analysis and profiles of the major players in the global limb prosthetics market include Fillauer LLC Companies, Inc., Hanger, Inc., Цssur, Blatchford Limited, Spinal Technology Inc., Ottobock, WillowWood Global LLC, Steeper Inc., Uniprox, and Orth%li%Europe. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships t%li%sustain the intense competition and gain a strong foothold in the global market.

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    • Additional company profiles with specific t%li%client's interest
  • Additional country or region analysis- market size and forecast
  • Expanded list for Company Profiles
  • Historic market data
  • Key player details (including location, contact details, supplier/vendor network etc. in excel format)
Key Market Segments

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
  • Hospitals
  • Clinics
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • Chain
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
  • Key Market Players
  • Fillauer LLC Companies, Inc
  • Hanger, Inc
  • Цssur
  • Blatchford Limited
  • Spinal Technology Inc
  • ottobock
  • WillowWood Global LLC
  • Steeper Inc
  • Uniprox
    • Orth%li%Europe
CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
  1.4.1. Primary Research
  1.4.2. Secondary Research
  1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
  3.2.1. Top Investment Pockets
  3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
  3.3.1. Bargaining Power of Suppliers
  3.3.2. Threat of New Entrants
  3.3.3. Threat of Substitutes
  3.3.4. Competitive Rivalry
  3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
  3.4.1. Drivers
  3.4.2. Restraints
  3.4.3. Opportunities

CHAPTER 4: PROSTHETIC FOOT MARKET, BY TYPE

4.1. Market Overview
  4.1.1 Market Size and Forecast, By Type
4.2. Mechanical Foot
  4.2.1. Key Market Trends, Growth Factors and Opportunities
  4.2.2. Market Size and Forecast, By Region
  4.2.3. Market Share Analysis, By Country
4.3. Microprocessor Foot
  4.3.1. Key Market Trends, Growth Factors and Opportunities
  4.3.2. Market Size and Forecast, By Region
  4.3.3. Market Share Analysis, By Country

CHAPTER 5: PROSTHETIC FOOT MARKET, BY AGE GROUP

5.1. Market Overview
  5.1.1 Market Size and Forecast, By Age Group
5.2. Juveniles
  5.2.1. Key Market Trends, Growth Factors and Opportunities
  5.2.2. Market Size and Forecast, By Region
  5.2.3. Market Share Analysis, By Country
5.3. Adults
  5.3.1. Key Market Trends, Growth Factors and Opportunities
  5.3.2. Market Size and Forecast, By Region
  5.3.3. Market Share Analysis, By Country

CHAPTER 6: PROSTHETIC FOOT MARKET, BY REGION

6.1. Market Overview
  6.1.1 Market Size and Forecast, By Region
6.2. North America
  6.2.1. Key Market Trends and Opportunities
  6.2.2. Market Size and Forecast, By Type
  6.2.3. Market Size and Forecast, By Age Group
  6.2.4. Market Size and Forecast, By Country
  6.2.5. U.S. Prosthetic Foot Market
    6.2.5.1. Market Size and Forecast, By Type
    6.2.5.2. Market Size and Forecast, By Age Group
  6.2.6. Canada Prosthetic Foot Market
    6.2.6.1. Market Size and Forecast, By Type
    6.2.6.2. Market Size and Forecast, By Age Group
  6.2.7. Mexico Prosthetic Foot Market
    6.2.7.1. Market Size and Forecast, By Type
    6.2.7.2. Market Size and Forecast, By Age Group
6.3. Europe
  6.3.1. Key Market Trends and Opportunities
  6.3.2. Market Size and Forecast, By Type
  6.3.3. Market Size and Forecast, By Age Group
  6.3.4. Market Size and Forecast, By Country
  6.3.5. Germany Prosthetic Foot Market
    6.3.5.1. Market Size and Forecast, By Type
    6.3.5.2. Market Size and Forecast, By Age Group
  6.3.6. France Prosthetic Foot Market
    6.3.6.1. Market Size and Forecast, By Type
    6.3.6.2. Market Size and Forecast, By Age Group
  6.3.7. UK Prosthetic Foot Market
    6.3.7.1. Market Size and Forecast, By Type
    6.3.7.2. Market Size and Forecast, By Age Group
  6.3.8. Italy Prosthetic Foot Market
    6.3.8.1. Market Size and Forecast, By Type
    6.3.8.2. Market Size and Forecast, By Age Group
  6.3.9. Spain Prosthetic Foot Market
    6.3.9.1. Market Size and Forecast, By Type
    6.3.9.2. Market Size and Forecast, By Age Group
  6.3.10. Rest of Europe Prosthetic Foot Market
    6.3.10.1. Market Size and Forecast, By Type
    6.3.10.2. Market Size and Forecast, By Age Group
6.4. Asia-Pacific
  6.4.1. Key Market Trends and Opportunities
  6.4.2. Market Size and Forecast, By Type
  6.4.3. Market Size and Forecast, By Age Group
  6.4.4. Market Size and Forecast, By Country
  6.4.5. Japan Prosthetic Foot Market
    6.4.5.1. Market Size and Forecast, By Type
    6.4.5.2. Market Size and Forecast, By Age Group
  6.4.6. China Prosthetic Foot Market
    6.4.6.1. Market Size and Forecast, By Type
    6.4.6.2. Market Size and Forecast, By Age Group
  6.4.7. Australia Prosthetic Foot Market
    6.4.7.1. Market Size and Forecast, By Type
    6.4.7.2. Market Size and Forecast, By Age Group
  6.4.8. India Prosthetic Foot Market
    6.4.8.1. Market Size and Forecast, By Type
    6.4.8.2. Market Size and Forecast, By Age Group
  6.4.9. South Korea Prosthetic Foot Market
    6.4.9.1. Market Size and Forecast, By Type
    6.4.9.2. Market Size and Forecast, By Age Group
  6.4.10. Rest of Asia-Pacific Prosthetic Foot Market
    6.4.10.1. Market Size and Forecast, By Type
    6.4.10.2. Market Size and Forecast, By Age Group
6.5. LAMEA
  6.5.1. Key Market Trends and Opportunities
  6.5.2. Market Size and Forecast, By Type
  6.5.3. Market Size and Forecast, By Age Group
  6.5.4. Market Size and Forecast, By Country
  6.5.5. Brazil Prosthetic Foot Market
    6.5.5.1. Market Size and Forecast, By Type
    6.5.5.2. Market Size and Forecast, By Age Group
  6.5.6. Saudi Arabia Prosthetic Foot Market
    6.5.6.1. Market Size and Forecast, By Type
    6.5.6.2. Market Size and Forecast, By Age Group
  6.5.7. South Africa Prosthetic Foot Market
    6.5.7.1. Market Size and Forecast, By Type
    6.5.7.2. Market Size and Forecast, By Age Group
  6.5.8. Rest of LAMEA Prosthetic Foot Market
    6.5.8.1. Market Size and Forecast, By Type
    6.5.8.2. Market Size and Forecast, By Age Group

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023

CHAPTER 8: COMPANY PROFILES

8.1. Otto Bock Healthcare GmbH
  8.1.1. Company Overview
  8.1.2. Key Executives
  8.1.3. Company Snapshot
  8.1.4. Operating Business Segments
  8.1.5. Product Portfolio
  8.1.6. Business Performance
  8.1.7. Key Strategic Moves and Developments
8.2. Smith And Nephew Plc.
  8.2.1. Company Overview
  8.2.2. Key Executives
  8.2.3. Company Snapshot
  8.2.4. Operating Business Segments
  8.2.5. Product Portfolio
  8.2.6. Business Performance
  8.2.7. Key Strategic Moves and Developments
8.3. WillowWood Global LLC
  8.3.1. Company Overview
  8.3.2. Key Executives
  8.3.3. Company Snapshot
  8.3.4. Operating Business Segments
  8.3.5. Product Portfolio
  8.3.6. Business Performance
  8.3.7. Key Strategic Moves and Developments
8.4. Zimmer Biomet Holdings, Inc.
  8.4.1. Company Overview
  8.4.2. Key Executives
  8.4.3. Company Snapshot
  8.4.4. Operating Business Segments
  8.4.5. Product Portfolio
  8.4.6. Business Performance
  8.4.7. Key Strategic Moves and Developments
8.5. Ossur Corporate
  8.5.1. Company Overview
  8.5.2. Key Executives
  8.5.3. Company Snapshot
  8.5.4. Operating Business Segments
  8.5.5. Product Portfolio
  8.5.6. Business Performance
  8.5.7. Key Strategic Moves and Developments
8.6. Streifeneder KG
  8.6.1. Company Overview
  8.6.2. Key Executives
  8.6.3. Company Snapshot
  8.6.4. Operating Business Segments
  8.6.5. Product Portfolio
  8.6.6. Business Performance
  8.6.7. Key Strategic Moves and Developments
8.7. Blatchford Group
  8.7.1. Company Overview
  8.7.2. Key Executives
  8.7.3. Company Snapshot
  8.7.4. Operating Business Segments
  8.7.5. Product Portfolio
  8.7.6. Business Performance
  8.7.7. Key Strategic Moves and Developments
8.8. Fillauer LLC
  8.8.1. Company Overview
  8.8.2. Key Executives
  8.8.3. Company Snapshot
  8.8.4. Operating Business Segments
  8.8.5. Product Portfolio
  8.8.6. Business Performance
  8.8.7. Key Strategic Moves and Developments
8.9. Ultraflex Systems
  8.9.1. Company Overview
  8.9.2. Key Executives
  8.9.3. Company Snapshot
  8.9.4. Operating Business Segments
  8.9.5. Product Portfolio
  8.9.6. Business Performance
  8.9.7. Key Strategic Moves and Developments
8.10. Touch Bionics, Inc
  8.10.1. Company Overview
  8.10.2. Key Executives
  8.10.3. Company Snapshot
  8.10.4. Operating Business Segments
  8.10.5. Product Portfolio
  8.10.6. Business Performance
  8.10.7. Key Strategic Moves and Developments


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