What is the global market size of Orthopaedic Prosthetics Market?

Orthopaedic Prosthetics Market size was valued at USD 2.09 billion in 2021 and is poised to grow from USD 2.20 billion in 2022 to USD 3.27 billion by 2030, growing at a CAGR of 5.1% in the forecast period (2023-2030).

What is the key driver of Global Orthopaedic Prosthetics Market?

The global population is experiencing a rise in the number of elderly individuals, leading to a higher prevalence of orthopaedic conditions such as osteoarthritis, osteoporosis, and limb loss. As older adults aim to maintain an active lifestyle, there is a growing demand for orthopaedic prosthetics. The expanding geriatric population is a significant driving factor for market growth.

Orthopaedic Prosthetics Market Size, Share, Growth Analysis, By Product Type(Orthotics (Upper limb, Lower limb, Spinal), Prosthetics (Upper Extremity), By Application(Hospitals, Prosthetic Clinics, Rehabilitation Centers and Others.), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2664 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 68 | Figures: 75

Orthopaedic Prosthetics Market News

In May 2023, Hanger Inc. announced the launch of a new prosthetic knee called the Hanger X3 Knee. The new knee is designed to provide more natural movement and stability than traditional prosthetic knees.
In April 2023, Otto Bock HealthCare GmbH announced the launch of a new prosthetic hand called the Otto Bock Michelangelo Hand. The new hand is designed to be more lifelike and functional than traditional prosthetic hands.
In March 2023, Zimmer Biomet Holdings Inc. announced the launch of a new prosthetic ankle called the Zimmer Biomet iWalk Ankle. The new ankle is designed to be more lightweight and portable than traditional prosthetic ankles.

Orthopaedic Prosthetics Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Orthopedic Prosthetics Market size was valued at USD 8.64 Billion in 2022 and is poised to grow from USD 9.39 Billion in 2023 to USD 18.21 Billion by 2031, at a CAGR of 8.64% during the forecast period (2024-2031).

The global orthopaedic prosthetics market is characterised by intense competition among various players operating in the industry. This market encompasses the production and distribution of prosthetic devices used to replace or support missing or damaged body parts, particularly in the field of orthopaedics. The competitive landscape of this market is shaped by several factors, including technological advancements, product innovation, strategic partnerships, and extensive research and development activities. 'Össur (Iceland)', 'Johnson & Johnson (US)', 'Zimmer Biomet Holdings Inc. (US)', 'Stryker Corporation (US) ', 'Ottobock (Germany) ', 'Blatchford Group (UK) ', 'Hanger Inc. (US) ', 'Fillauer LLC (US) ', 'WillowWood (US) ', 'College Park Industries (US) ', 'Össur Americas (US) ', 'Touch Bionics (UK) ', 'Proteor (France) ', 'Ottobock Healthcare (Germany) ', 'Endolite (UK) ', 'BiOM, Inc. (US) ', 'Trulife (Ireland) ', 'SPS (US) ', 'Freedom Innovations (US) ', 'Steeper Group (UK)'

Growing Adoption of Advanced Technologies and Materials: Rapid advancements in technology and materials have significantly improved the design, functionality, and comfort of orthopaedic prosthetic devices. The introduction of lightweight and durable materials, such as carbon fibre composites and titanium alloys, has revolutionised the field by offering prosthetics that are not only more natural-looking but also provide enhanced mobility and functionality for individuals with limb loss or limb impairment.

In the global Orthopaedic Prosthetics market, the most dominant region is North America. North America has a well-established healthcare infrastructure, advanced technology adoption, and high healthcare expenditure, which contribute to its dominance in the market. Additionally, factors such as a large patient pool, favourable reimbursement policies, and increasing awareness about advanced prosthetic solutions drive the growth of the Orthopaedic Prosthetics market in this region.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Orthopaedic Prosthetics Market Size, Share, Growth Analysis, By Product Type(Orthotics (Upper limb, Lower limb, Spinal), Prosthetics (Upper Extremity), By Application(Hospitals, Prosthetic Clinics, Rehabilitation Centers and Others.), By Region - Industry Forecast 2024-2031

Orthopaedic Prosthetics Market News

Orthopaedic Prosthetics Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Orthopaedic Prosthetics Market?

Who are the key vendors in the Orthopaedic Prosthetics Market?

What is the key driver of Orthopaedic Prosthetics Market?

What is the key market trend for Orthopaedic Prosthetics Market?

Which region accounted for the largest share in Orthopaedic Prosthetics Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300