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

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 has witnessed significant growth in recent years due to several factors such as an increasing geriatric population, rising prevalence of orthopaedic disorders and disabilities, advancements in prosthetic technologies, and growing awareness about the benefits of prosthetic devices. This market analysis will provide insights into the current state and future prospects of the global orthopaedic prosthetics market. With aging, the risk of orthopaedic conditions such as osteoarthritis, rheumatoid arthritis, and osteoporosis increases, leading to the need for orthopaedic prosthetic devices. Moreover, advancements in medical treatments and technologies have increased the life expectancy of individuals, resulting in a larger population requiring orthopaedic prosthetics. Additionally, the increasing prevalence of orthopaedic disorders and disabilities, including bone injuries, amputations, and congenital limb deficiencies, has contributed to the growth of the orthopaedic prosthetics market. These conditions often require the use of prosthetic devices to restore mobility and improve the quality of life for individuals. The growing awareness about the benefits of prosthetic devices, coupled with the availability of advanced and customizable prosthetic solutions, has further fueled the market demand.

US Orthopaedic Prosthetics Market is poised to grow at a sustainable CAGR for the next forecast year.